2Q 2021

Analyst Insight: Wind Energy Update and Forecast Insights

Global Wind Energy Insights

The wind market was extremely resilient in 2020, despite most renewable markets facing severe short-term disruptions caused by COVID-19. In 2020, the global wind industry installed 99 GW of annual capacity and is estimated to install another 88.5 GW in 2021. This represents a significant increase over the previous estimate of 62.6 GW made at the end of 2020. China accounted for a large portion of global annual capacity in 2020, adding more than 58 GW in 2020—growth that is expected to continue into 2021. In the US, as a result of pandemic-related delays and the phase out of the production tax credit, annual capacity in is expected to peak in 2021 at more than 15.5 GW.

The US and China are experiencing rapid near-term increases of capacity additions as generous policies change or phase out. As the global wind market matures further, wind power is being developed not only in a greater variety of countries but also in offshore and onshore capacities. In North America, new climate plans are expected to accelerate offshore wind energy construction.

This Guidehouse Insights report provides an analysis and key recommendations across the global wind market. This report provides insights, drivers and barriers, and key market inflection points on regions where the wind energy supply chain market is expected to have the greatest influence in the overall energy mix. In addition, Guidehouse Insights continues to monitor COVID-19 impacts on the wind market.

Pages 11
Tables | Charts | Figures 4
  • Which countries are expected to represent the largest markets for wind energy capacity additions in the coming decade?
  • How much wind capacity is anticipated to be installed in 2021 in key regions tracked?
  • What mix of onshore, offshore, and distributed wind is expected in different countries and regions worldwide?
  • What are the key drivers for the different wind segments around the world?
  • How does this capacity forecast by segment translate into wind plant CAPEX investments?
  • Wind turbine manufacturers
  • Electricity generation utilities
  • Independent power producers
  • Wind turbine component suppliers
  • Wind power plant operations and maintenance companies
  • Materials manufacturers for wind energy components
  • Government agencies, policymakers, and researchers
  • Investor community

Introduction

Scope

Executive Summary

Updates from the Past 6 Months

Market Inflection Trends

Market Drivers and Barriers

Market Forecast

Regional Market Overview

Key Recommendations

Additional Resources and Contact

  • Market Drivers and Barriers
  • Total Annual Wind Capacity Additions by Segment, World Markets: 2021-2030
  • Global Annual Wind Revenue Onshore and Offshore by Region, World Markets: 2021 and 2030
  • Global Wind Energy Market Growth Potential by Region, World Markets: 2021-2030