Onshore Wind Market By Technology (Wind Turbine, T&D, and Other Technologies) Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2019-2025

Market Definition

The global Onshore Wind market is expected to witness significant growth during the forecast period owing to the growing investments in renewables. The global Onshore Wind market is estimated to reach $XX million in 2019 with a CAGR of XX.X% from 2019 to 2025. Onshore wind power refers to turbines that are located on land and use the wind to generate electricity. They are commonly located in areas where there is low conservation or habitat value. Onshore wind has the benefit of being one of the most affordable renewable energy sources. The onshore wind farms are relatively cheap as compared to offshore wind farms, and allows less voltage drop off on the cabling due to shorter distance between the windmill and the consumer. The world is witnessing a steep growth in the onshore wind energy as it is an inexhaustible source of clean, safe, renewable energy. Moreover, it reduces fossil fuel consumption, which helps to avert climate change and to process the energy transition. According to the International Energy Agency (IEA), in 2018, onshore wind electricity generation increased by an estimated 12%, while capacity additions only grew 7%.

Industry Forces

Growing demand from clean and renewable energy across the globe is the primary factor driving the market. In addition, growing R&D activities for the development of airborne wind energy systems (AWES) is also another factor boosting the growth of the market. However, onshore wind projects are not capable to produce energy all year round owing to often poor wind speed or physical blockages such as buildings or hills, which may impede the market from growing. In addition to that, competition from alternative renewable energy sources such as solar PV and hydropower also limits the growth of the market. Moreover, technological advancements in the onshore wind energy projects are likely to spur the market growth in the forthcoming years. In the last two decades, there have been many technological advances for the improvement of output of wind turbines. Currently, there is a huge choice of models that suit the specific environment of each site to harness the full potential of the wind. For instance, General Electric’s latest turbines are equipped with a digital infrastructure that enables engineers to connect, monitor, predict and optimize unit and wind farm energy performance. Further, numerous government organization of developing and developed countries are investing in the onshore wind projects, which is expected to generate several growth prospects in the global market.

Market Segmentation

The global onshore wind market is mainly classified based on technology. The technology segment includes wind turbines, T&D, and other technologies.

Regional Analysis

Based on geography, the global onshore wind market is divided into North America, Europe, Asia-Pacific, South America, and Middle East & Africa. North America is further divided in the U.S., Canada, and Mexico, whereas Europe consists of the UK, Germany, France, Italy, and Rest of Europe. India, China, Japan, South Korea, and the Rest of Asia-Pacific are the categorization of the APAC region. The South America region includes Brazil, Argentina, and the Rest of South America, while the Middle East & Africa is categorized into GCC Countries, Egypt, South Africa, and Rest of Middle East & Africa. China is the major market in the global onshore wind market. China remained the largest onshore markets with approximately 21 GW of energy production in the year 2017. In addition, the U.S is the second most revenue generating market in the global onshore wind market. Then again, Europe have gained traction in the market driven by numerous government initiatives undertaken in the region. Competitive Landscape Prominent players profiled in the report include GENERAL ELECTRIC, GOLDWIND, Siemens Gamesa Renewable Energy, S.A., Suzlon, Xinjiang Goldwind Science & Technology Co., Ltd., ENERCON, Envision, Senvion, Nordex Group and United Power among others. Many industry players revised their business models and strategies by acquiring new subsidiaries in related fields and/or expanding services offered.

Onshore Wind Market Key Segments:

By Technology

• Wind Turbine
• T&D
• Other Technologies

By Geography

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • U.K
  • Germany
  • France
  • Italy
  • Rest of Europe
• Asia Pacific
  • India
  • China
  • Japan
  • South Korea
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • GCC Countries
  • Egypt
  • South Africa
  • Rest of Middle East & Africa