- What are the top global wind markets?
- What are the top global regions for wind capacity installations?
- What are the forecasts in top regions and countries for 2020-2029?
- What is the value of this market each year by region from 2020-2029?
- What are the drivers and barriers relevant to the wind market in the top global countries?
Steady Growth Ahead for the Global Wind Power Market
Global Wind Energy Insights
The global wind industry installed 59.7 GW in 2019, a substantial increase from the 51.4 GW installed in 2018. This growth comes despite a wind market that has faced challenges in recent years. These challenges include many mature country markets eliminating or reducing subsidies and many markets shifting to competitive power contract auctions, tenders, and other wind procurement mechanisms that squeeze profit margins throughout the supply chain. Meanwhile, solar PV is a capable competitor in the clean energy arena thanks to its rapid cost reductions.
Despite these challenges, the wind market is holding steady and adjusting to a new normal of intense price competition. Some markets, such as the US and China in the short term, are experiencing rapid near-term increases of capacity additions as generous policies change or phase out. The US market is expected to peak in 2020 with more than 12 GW of new capacity added as tax credits phase out. Wind power is being developed not only in a greater variety of countries but also offshore and onshore. Offshore wind development is increasing worldwide at a 13% compound annual growth rate (CAGR) from 2020-2029. China, Taiwan, and Europe are the leading markets, with the US soon to join when the first large-scale offshore wind plants are commissioned in coming years along the northeast coast of the country.
This Guidehouse Insights report analyzes the global wind power market to assess current and future development cycle and projections for new installed wind capacity. The study provides an analysis of the market issues related to wind development, including drivers and barriers such as power contract auction rates, volume, and related policy and market environments. Global market forecasts, segmented by region, extend through 2029.
- 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
- Executive Summary
- Market Inflection Trends
- Market Drivers and Barriers
- Market Forecast
- Regional Market Overview
- 2019 New Global Megawatt Capacity Additions
- Acronyms and Resources
- Global Wind Energy Market Growth Potential, World Markets: 2Q20
- Market Drivers and Barriers
- Annual Installed Wind Energy Capacity by Region, World Markets: 2020-2029
- Annual Installed Onshore and Offshore Wind Capacity, World Markets: 2020-2029
- Global Cumulative Wind Capacity in Gigawatts, Onshore and Offshore, World Markets: 2020 and 2029
- Global New Annual Megawatt Capacity Additions, World Markets: 2019