Wind Electric Power Generation Global Market Report 2020
March 2020
200
About the Report
About the Report
The wind electric power generation market consists of sales of wind power and related services. The wind electric power generation industry includes establishments engaged in producing electricity by using wind turbines. The wind energy is converted to electric power through the rotation of the blades of a rotor (between 10 and 25 rpm), producing kinetic energy, which in turn drives a generator that converts the mechanical energy into electricity. The electricity produced is then supplied to electric power transmission systems, which are used to move large quantities of power from generating facilities to substations, and to distribution systems, which are used for short distances to transport electricity to customers locally. This market includes revenues generated from both offshore and onshore wind turbines.
The global wind electric power generation market reached a value of nearly USD 58.4 billion in 2019, having grown at a compound annual growth rate (CAGR) of 3.29% since 2015, and is expected to grow at a CAGR of 8.72% to nearly USD 81.6 billion by 2023.
The wind electric power generation market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Asia Pacific was the largest region in the wind electric power generation market in 2019.
The wind electric power generation market covered in this report is segmented by connectivity into on-grid, off-grid and by end-use into industrial, commercial, residential.
Growing investments in the clean energy sector is contributing to the growth of the wind electric power generation market. Clean energy is an energy derived from renewable, zero-emissions sources, that does not pollute the environment. Solar, hydro, and wind energy are the primary sources of clean energy. For instance, in 2020, according to 'Africa Business Communities', UK invested over USD 66.7 million (GBP50 million) into clean energy projects in Africa. The UK government invested in advanced, clean technology and is partnering with African countries to develop sustainable energy sources to meet the African energy demand which is set to increase by 60% by 2040. Growing investments in the clean energy sector to meet the energy demand is driving the wind electric power generation market.
Weather conditions have always been a major challenge in the wind electric power generation market. Weather change is related to most extreme weather conditions, from around the globe. For instance, in 2019, in India, according to a new study by the Harvard John A. Paulson School of Engineering and Applied Sciences (SEAS) and the Harvard China Project, warming of Indian ocean, triggered by global climate change, will cause a slow decline in wind power output in India. The study also states Indian monsoon is weakening, leading to a steady decline in wind power. As a result, over the past 40 years, the potential production of electricity has fallen by 13%. Adverse weather conditions has a negative impact on wind electric power generation resulting in decline of wind power.
Companies in the power generation industry are using hybrid wind-hydro power generation systems to improve the electricity generation outputs. Hybrid wind-hydro power generation systems generate electricity by combining wind turbines and pumped storage. Using these systems, electric power from wind energy is generated around the clock and electric power from water movement is generated when the water that flows down from the reservoirs. When there is surplus energy, the additional water is pumped back to the reservoirs, acting as a large-scale battery. Due to the simultaneous work of wind turbines and hydro turbines, there is a continuous supply of electricity from the plant. For instance, in 2018, Max Boegl Wind AG and GE Renewable Energy collaborated and started operations on the first wind farm with an integrated hydropower plant project. Power generation companies should consider embracing the hybrid wind-hydro turbine model to improve the electricity generation outputs.
In December 2018, Mitsui & Co., Ltd., a Japan-based international trade and development company, acquired 34% of the shares in Vientos Los Hercules S.A. from Total Eren S.A., a developer of solar and wind energy projects headquartered in France. Mitsui, through its equity owned power generation businesses, owns 9.1 GW of generation capacity. The transaction increased Mitsui's share in Argentina's market, and helps Mitsui meet the objectives of the government to increase the percentage of renewable energy in Argentina to 20% by 2020. Vientos Los Hercules S.A is a power generation company that operates wind farms in Argentina.
Major players in the market are Ming Yang Smart Energy Group Ltd., NextEra Energy Resources, LLC, Pacific Hydro Pty Ltd., Shell WindEnergy, Inc., TransAlta Corporation, Xinjiang GoldWind Science & Technology Co., Ltd., Berkshire Hathaway Energy, Pattern Energy and IBERDROLA Renewables.
Products
Products
1) By Connectivity: On-Grid; Off-Grid; 2) By End-User: Industrial; Commercial; Residential
Companies
Ming Yang Smart Energy Group Ltd.
NextEra Energy Resources, LLC
Pacific Hydro Pty Ltd.
Shell WindEnergy, Inc.
TransAlta Corporation
Xinjiang GoldWind Science & Technology Co., Ltd.
Berkshire Hathaway Energy
Pattern Energy
IBERDROLA Renewables
EON Climate & Renewables
Alstom
ABO-Wind
Vattenfall
A2 Sea
Tradewind Energy
Geronimo
ReGen Powertech
Leitwind
Doosan Heavy Industries & Construction
Northland Power Inc.
Duke Energy Corporation
Electricite de France S.A.
American Electric Power (USA)
Orsted A/S
DeWind Inc.
Dongfang Electric Corporation Limited
Enel Green Power S.p.A.
Wind World (India) Limited
Eurus Energy Holdings Corporation
Guodian United Power Technology Company Limited
Table of Contents
Table of Contents
1. Executive Summary
2. Wind Electric Power Generation Market Characteristics
3. Wind Electric Power Generation Market Size And Growth
3.1. Global Wind Electric Power Generation Historic Market, 2015-2019, USD Billion
3.1.1. Drivers Of The Market
3.1.2. Restraints On The Market
3.2. Global Wind Electric Power Generation Forecast Market, 2019-2023F, 2025F, 2030F, USD Billion
3.2.1. Drivers Of The Market
3.2.2. Restraints On the Market
4. Wind Electric Power Generation Market Segmentation
4.1. Global Wind Electric Power Generation Market, Segmentation By Connectivity, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
On-Grid
Off-Grid
4.2. Global Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Industrial
Commercial
Residential
5. Wind Electric Power Generation Market Regional And Country Analysis
5.1. Global Wind Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
5.2. Global Wind Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
6. Asia-Pacific Wind Electric Power Generation Market
6.1. Asia-Pacific Wind Electric Power Generation Market Overview
6.2. Asia-Pacific Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
7. China Wind Electric Power Generation Market
7.1. China Wind Electric Power Generation Market Overview
7.2. China Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,USD Billion
8. India Wind Electric Power Generation Market
8.1. India Wind Electric Power Generation Market Overview
8.2. India Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
9. Japan Wind Electric Power Generation Market
9.1. Japan Wind Electric Power Generation Market Overview
9.2. Japan Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
10. Australia Wind Electric Power Generation Market
10.1. Australia Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
11. Indonesia Wind Electric Power Generation Market
11.1. Indonesia Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
12. South Korea Wind Electric Power Generation Market
12.1. South Korea Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
13. Western Europe Wind Electric Power Generation Market
13.1. Western Europe Wind Electric Power Generation Market Overview
13.2. Western Europe Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
14. UK Wind Electric Power Generation Market
14.1. UK Wind Electric Power Generation Market Overview
14.2. UK Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
15. Germany Wind Electric Power Generation Market
15.1. Germany Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
16. France Wind Electric Power Generation Market
16.3. France Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
17. Eastern Europe Wind Electric Power Generation Market
17.1. Eastern Europe Wind Electric Power Generation Market Overview
17.2. Eastern Europe Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
18. Russia Wind Electric Power Generation Market
18.1. Russia Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
19. North America Wind Electric Power Generation Market
19.1. North America Wind Electric Power Generation Market Overview
19.2. North America Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
20. USA Wind Electric Power Generation Market
20.1. USA Wind Electric Power Generation Market Overview
20.2. USA Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
21. South America Wind Electric Power Generation Market
21.1. South America Wind Electric Power Generation Market Overview
21.2. South America Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
22. Brazil Wind Electric Power Generation Market
22.1. Brazil Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
23. Middle East Wind Electric Power Generation Market
23.1. Middle East Wind Electric Power Generation Market Overview
23.2. Middle East Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
24. Africa Wind Electric Power Generation Market
24.1. Africa Wind Electric Power Generation Market Overview
24.2. Africa Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
25. Wind Electric Power Generation Market Competitive Landscape And Company Profiles
25.1. Wind Electric Power Generation Market Competitive Landscape
25.2. Wind Electric Power Generation Market Company Profiles
25.2.1. Engie
25.2.1.1. Overview
25.2.1.2. Products and Services
25.2.1.3. Strategy
25.2.1.4. Financial Performance
25.2.2. NextEra Energy Resources, LLC
25.2.2.1. Overview
25.2.2.2. Products and Services
25.2.2.3. Strategy
25.2.2.4. Financial Performance
25.2.3. Pacific Hydro Pty Ltd.
25.2.3.1. Overview
25.2.3.2. Products and Services
25.2.3.3. Strategy
25.2.3.4. Financial Performance
25.2.4. Shell WindEnergy, Inc.
25.2.4.1. Overview
25.2.4.2. Products and Services
25.2.4.3. Strategy
25.2.4.4. Financial Performance
25.2.5. TransAlta Corporation
25.2.5.1. Overview
25.2.5.2. Products and Services
25.2.5.3. Strategy
25.2.5.4. Financial Performance
26. Key Mergers And Acquisitions In The Wind Electric Power Generation Market
27. Wind Electric Power Generation Market Trends And Strategies
28. Wind Electric Power Generation Market Future Outlook and Potential Analysis
29. Appendix
29.1. Abbreviations
29.2. Currencies
29.3. Research Inquiries
29.4. The Business Research Company
29.5. Copyright And Disclaimer
List of Figure
Figure 1: Global Historic Market Growth, 2015-2019, USD Billion
Figure 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 3: Global Wind Electric Power Generation Market, Segmentation By Connectivity, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 4: Global Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 5: Global Wind Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 6: Global Wind Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 7: Asia-Pacific, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 8: China, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 9: India, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 10: Japan, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 11: Australia, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 12: Indonesia, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 13: South Korea, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 14: Western Europe, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 15: UK, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 16: Germany, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 17: France, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 18: Eastern Europe, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 19: Russia, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 20: North America, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 21: USA, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 22: South America, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 23: Brazil, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 24: Middle East, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 25: Africa, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Figure 26: Engie Financial Performance
Figure 27: NextEra Energy Resources, LLC Financial Performance
Figure 28: Pacific Hydro Pty Ltd. Financial Performance
Figure 29: Shell WindEnergy, Inc. Financial Performance
Figure 30: TransAlta Corporation Financial Performance
List of Table
Table 1: Global Historic Market Growth, 2015-2019, USD Billion
Table 2: Global Forecast Market Growth, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 3: Global Wind Electric Power Generation Market, Segmentation By Connectivity, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 4: Global Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 5: Global Wind Electric Power Generation Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 6: Global Wind Electric Power Generation Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 7: Asia-Pacific, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 8: China, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 9: India, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 10: Japan, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 11: Australia, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 12: Indonesia, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 13: South Korea, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 14: Western Europe, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 15: UK, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 16: Germany, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 17: France, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 18: Eastern Europe, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 19: Russia, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 20: North America, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 21: USA, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 22: South America, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 23: Brazil, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 24: Middle East, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 25: Africa, Wind Electric Power Generation Market, Segmentation By End-User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, USD Billion
Table 26: Engie Financial Performance
Table 27: NextEra Energy Resources, LLC Financial Performance
Table 28: Pacific Hydro Pty Ltd. Financial Performance
Table 29: Shell WindEnergy, Inc. Financial Performance
Table 30: TransAlta Corporation Financial Performance
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