Wind Power Market to Grow Significantly by Leading Players 2023 to 2030

Pune, India - (NewMediaWire) - March 3, 2023 -  "Wind Power" Size, Scope, and Forecast 2023-2030 report has been added to the Market Research Archive of Absolute Reports. Industry experts and researchers have offered an authoritative and concise analysis of the Global Wind Power with respect to various aspects such as growth factors, challenges, restraints, developments, trends, and opportunities for growth. This report will surely be a handy tool for market players to come up with effective strategies with the aim of strengthening their positions in the market.

What is the Wind Power growth?

Wind power generation refers to the use of wind turbines to directly convert wind energy into electricity. Among the various forms of wind energy utilization, wind power generation is the main form. Among renewable energies, it is also one of the most technically mature way with large-scale development conditions and commercial prospects.

According to Researchers, the total amount of wind energy in the world is about 130 billion kilowatts, of which 20 billion kilowatts are available. Currently, global wind power industry is mainly distributed in the United States, Europe, China and other regions, increasing from 31.9GW in 2013 to 93GW in 2020, a CAGR of 16.5% during 2013-2020.

The continued increase in newly installed wind power capacity in China has made China the largest region in the world in terms of cumulative installed wind power capacity, surpassing the EU. 2020 is a record year for the global wind power industry, with 93GW of new installations worldwide, up 53% YOY.

In 2020, China’s newly added wind power capacity reached 52GW, double the amount of new wind power capacity installed in 2019. China has become one of the world's largest wind power markets, with record growth in installed wind power in 2020, and its onshore wind power was responsible for 56.3% of the total new installations worldwide.

In the emerging offshore wind sector in recent years, the total cumulative global offshore wind power installed in 2020 was 35 GW, with 6.1 GW of new installations, down slightly from 6.24 GW in 2019.

China achieved more than 3 GW of new grid-connected offshore wind power in 2020, becoming the world's largest offshore wind market for the third consecutive year. The European market maintained steady growth, with the Netherlands ranking second globally with nearly 1.5 GW of new installations and Belgium in third place (706 MW).

It is expected that with the existing wind power policy, 235 GW of new offshore wind power will be installed worldwide in the next decade, an increase equivalent to seven times the existing offshore wind power installation.

According to Researchers, China's wind power market is somewhat different from the global market. 20,401 new units were installed in China in 2020, with a capacity of 54.43 million kW, an increase of 105.1% YOY. Such a prosperous market, however, has barely developed relationships with overseas companies.

The world's highest-ranked company, Vestas, accounts for only 2.1% of installed capacity in China’s wind turbine market, ranking 11th in terms of new installed capacity for China’s wind turbine manufacturers in 2020.

Accordingly, overseas markets are not open to Chinese companies. In 2020, China exported a total of 1188 MW of wind turbine capacity, accounting for only 2-3% of the total global installed capacity outside of China. At the same time, China's wind power machine industry is highly concentrated.

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The leading enterprises are more advanced in capital, technology accumulation, and industry chain integrity, with obvious advantages in the market competition, so they hold a stable leading position.

Xinjiang Goldwind Science & Technology Co., Ltd., Envision Energy and Ming Yang Smart Energy Group Limited, three wind turbine manufacturers, have been holding the top three positions in the industry since 2016. During 2016 to 2020, according to the size of the Chinese market, CR5 increased from 60% to 70%, CR10 from 84% to 90%.

In terms of cost, wind power costs are lower than PV costs. Globally, among offshore wind, onshore wind, and PV, onshore wind has the lowest LCOE of 0.25 RMB/KWh. According to the global LCOE data published by the International Renewable Energy Agency (IRENA), offshore wind, onshore wind, and PV had decreased by 48%, 56%, and 85% respectively, during 2010 to 2020. By 2020, the LCOE for offshore wind, onshore wind, and PV was about RMB 0.54/KWh, RMB 0.25/KWh, and RMB 0.37/KWh respectively.

Compared to the decline in PV, onshore wind power still has more room for improvement. China's average LCOE for onshore wind is among the highest in the world, at 0.24 RMB (about 3.7 cents)/KWh in 2020.

According to the plan of China’s National Energy Administration, China's total installed wind PV capacity will reach more than 1.2 billion kW (about 1200 GW) by the end of 2030. It means that during 2022-2030, China will need to add at least about 300 million kW of wind power, with an average annual installed capacity of at least 30 GW. For wind power, with little policy change, the industry will continue to grow at least by 2030. And the global wind power industry is expected to continue to have strong growth momentum by 2050.

Browse Detailed TOC, Tables and Figures with Charts which is spread across 60 Pages that provides exclusive data, information, vital statistics, trends, and competitive landscape details in this niche sector.

Client Focus

1. Does this report consider the impact of COVID-19 and the Russia-Ukraine war on the Wind Power?

Yes. As the COVID-19 and the Russia-Ukraine war are profoundly affecting the global supply chain relationship and raw material price system, we have definitely taken them into consideration throughout the research, in Chapters, we elaborate at full length on the impact of the pandemic and the war on the Wind Power Industry

Final Report will add the analysis of the impact of Russia-Ukraine War and COVID-19 on this Wind Power Industry.

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This report provides a pin-point analysis of changing dynamics and emerging trends in the Global Wind Power. Additionally, it provides a futuristic perspective on various factors that are likely to fuel the growth of the Global Wind Power in the coming years. Further, the authors of the report have shed light on the factors that may hinder the growth of the Global Wind Power.

Wind Power - Competitive and Segmentation Analysis:

2. How do you determine the list of the key players included in the report?

With the aim of clearly revealing the competitive situation of the industry, we concretely analyze not only the leading enterprises that have a voice on a global scale, but also the regional small and medium-sized companies that play key roles and have plenty of potential growth.

Top Key Players of the Global Wind Power

1 Xinjiang Goldwind Science & Technology Co., Ltd.
2 Envision Energy
3 Ming Yang Smart Energy Group Limited
4 Electric Wind Power
5 Zhejiang Windey Co
6 CRRC Wind Power (Shandong) Co., Ltd.
7 Dongfang Electric
8 Sany Renewable Energy Co.,Ltd
9 China State Shipbuilding Corporation
10 Guodian United Power Technology Company Limited
11 China Guodian Corporation
12 China Datang Corporation
13 China Huaneng Group
14 China Best
15 CNOOC
16 Jingneng Group
17 Luneng Group
18 Concord New Energy
19 Hong Kong Energy (Holdings) Limited
20 Tianrun Group

Short Description About Wind Power:

The Global Wind Power is anticipated to rise at a considerable rate during the forecast period, between 2023 and 2030. In 2023, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

This report studies the Wind Power, covering market size for segment by type, by application, by sales channel (Direct Channel, Distribution Channel), and by region (North America, Europe, Asia-Pacific, South America and Middle East & Africa).

This report provides detailed historical analysis of global market for Wind Power from 2015-2020, and provides extensive market forecasts from 2023-2030 by region/country and subsectors. It covers the sales/revenue/value, gross margin, historical growth and future perspectives in the Wind Power.

Moreover, the impact of COVID-19 is also concerned. Since outbreak in December 2019, the COVID-19 virus has spread to all around the world and caused huge losses of lives and economy, and the global manufacturing, tourism and financial markets have been hit hard, while the online market/industry increase. Fortunately, with the development of vaccine and other effort by global governments and organizations, the negative impact of COVID-19 is expected to subside and the global economy is expected to recover.

This research covers COVID-19 impacts on the upstream, midstream and downstream industries. Moreover, this research provides an in-depth market evaluation by highlighting information on various aspects covering market dynamics like drivers, barriers, opportunities, threats, and industry news & trends. In the end, this report also provides in-depth analysis and professional advices on how to face the post COIVD-19 period.

The research methodology used to estimate and forecast this market begins by capturing the revenues of the key players and their shares in the market. Various secondary sources such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, have been used to identify and collect information useful for this extensive commercial study of the market. Calculations based on this led to the overall market size. After arriving at the overall market size, the total market has been split into several segments and sub-segments, which have then been verified through primary research by conducting extensive interviews with industry experts such as CEOs, VPs, directors, and executives. The data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and sub-segments.

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3. What are your main data sources?

Both Primary and Secondary data sources are being used while compiling the report.

Primary sources include extensive interviews of key opinion leaders and industry experts (such as experienced front-line staff, directors, CEOs, and marketing executives), downstream distributors, as well as end-users.Secondary sources include the research of the annual and financial reports of the top companies, public files, new journals, etc. We also cooperate with some third-party databases.

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historical data and forecast (2023-2030) of the following regions are covered in Chapter 4 and Chapter 7:

• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
• South America (Brazil, Argentina, Columbia etc.)
• Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa

Please find a more complete list of data sources in Chapters

1.To study and analyze the global Wind Power consumption (value) by key regions/countries, product type and application

2.To understand the structure of Wind Power by identifying its various sub segments.

3.Focuses on the key global Wind Power manufacturers, to define, describe and analyze the value, market share, market competition landscape, Porter's five forces analysis, SWOT analysis and development plans in next few years.

4.To analyze the Wind Power with respect to individual growth trends, future prospects, and their contribution to the total market.

5.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

6.To project the consumption of Wind Power submarkets, with respect to key regions (along with their respective key countries).

7.To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.

8.To strategically profile the key players and comprehensively analyze their growth strategies.

Customization of the Report

4. Can I modify the scope of the report and customize it to suit my requirements?

Yes. Customized requirements of multi-dimensional, deep-level and high-quality can help our customers precisely grasp market opportunities, effortlessly confront market challenges, properly formulate market strategies and act promptly, thus to win them sufficient time and space for market competition.

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Detailed TOC of Wind Power Market Insights and Forecast to 2030

1 Wind Power Industry Overview

1.1 Definition and Classification 

1.1.1 Definition

1.1.2 Classification

1.2 Global Wind Power Industry Overview

1.3 Impact of COVID-19 on Wind Power Industry

2 Wind Power Industry Development Environment 2016-2020

2.1 Economic Environment 

2.1.1 Global Economy 

2.1.2 China’s Economy

2.2 Policy Environment

2.2.1 Policy Overview

2.2.2 Policy Trends

3 Current Situation of Wind Power Industry, 2016-2021

3.1 Supply

3.1.1 Global Production

3.1.2 China's Production

3.2 Demand

3.2.1 International Market

3.2.2 China's market

3.3 Analysis of Offshore Wind Power Industry

4 Wind Power Industry Chain, 2016-2022

4.1 Components of the Wind Power Industry Chain

4.1.1 Overview

4.1.2 Blade

4.1.3 Casting

4.1.4 Bearings

4.1.5 Gearboxes

4.2 Cost Analysis of wind power industry chain

4.2.1 Raw Material Costs

4.2.2 Power Generation Costs

5 Global and China's Wind Power Industry Key Regions, 2016-2021

5.1 China

5.1.1 East China

5.1.2 North China

5.1.3 Northeast China 

5.1.4 Central China

5.1.5 Other regions

5.2 United States

5.3 Europe

5.4 Other Regions

6 Analysis of China's Wind Power Equipment Import and Export, 2018-2021

6.1 Wind Power Equipment Exports

6.1.1 Overview of wind power equipment exports

6.1.2 China's main export destinations of wind power equipment

6.2 Wind Power Equipment Imports

6.2.1 Overview of imports

6.2.2 Major Import Sources

7 Major Wind Power Equipment Manufacturers, 2020-2022

7.1 Wind Turbine Manufacturers

7.1.1 Xinjiang Goldwind Science & Technology Co., Ltd.

7.1.2 Envision Energy

7.1.3 Ming Yang Smart Energy Group Limited

7.1.4 Electric Wind Power

7.1.5 Zhejiang Windey Co

7.1.6 CRRC Wind Power (Shandong) Co., Ltd.

7.1.7 Dongfang Electric

7.1.8 Sany Renewable Energy Co.,Ltd

7.1.9 China State Shipbuilding Corporation

7.1.10 Guodian United Power Technology Company Limited

7.2 Wind Power Operators

7.2.1 China Guodian Corporation

7.2.2 China Datang Corporation

7.2.3 China Huaneng Group

7.2.4 China Best

7.2.5 CNOOC

7.2.6 Jingneng Group

7.2.7 Luneng Group

7.2.8 Concord New Energy

7.2.9 Hong Kong Energy (Holdings) Limited

7.2.10 Tianrun Group

8 Outlook on Global and China's Wind Power Industry, 2022-2030

8.1 Influencing Factors of Global and China's Wind Power Industry Development, 2022-2030

8.1.1 Drivers and Market Opportunities for Wind Power Industry, 2022-2030

8.1.2 Threats and Challenges to the Wind Power Industry

8.2 Forecast on China's Wind Power Industry Supply, 2022-2030

8.2.1 Forecast on China's Wind Power Capacity, 2022-2030 

8.2.2 Forecast on China's Wind Power Production, 2022-2030

8.3 Forecast on Wind Power Demand, 2022-2030

8.3.1 Forecast on Global Wind Power Market

8.3.2 Forecast on China's Wind Power Market Demand

8.4 Investment and Development Suggestions for China's Wind Power Industry, 2022-2030

Selected Charts:

Chart Chinese Government Support Policies for the Wind Power Industry

Chart Restrictive Policies Issued by the Chinese Government for the Wind Power Industry

Chart Global Newly Installed Capacity of Wind Power, 2016-2021

Chart Newly Installed Capacity of Wind Power in China, 2016-2021

Chart Global Newly Installed Capacity of Offshore Wind Power 2016-2021

Chart Newly Installed Capacity of Offshore Wind Power in China, 2016-2021

Chart China Polysilicon Price Trend, 2016-2021

Chart China's Wind Power Equipment Export Value, 2016-2021

Chart China's Wind Power Equipment Export Volume, 2016-2021

Chart China's Main Export Destinations of Wind Power Equipment, 2021

Chart China's Bearing Import Volume, 2016-2021 

Chart Major Import Sources of Bearings in China, 2020 

Chart Overview of Xinjiang Goldwind Science & Technology Co., Ltd.

Chart Operation of Xinjiang Goldwind Science & Technology Co., Ltd.

Chart Key Financial Indicators of Xinjiang Goldwind Science & Technology Co., Ltd., 2018-2020

Chart Overview of Envision Energy

Chart Operation of Envision Energy

Chart Key Financial Indicators of Envision Energy

Chart Forecast on China's Wind Turbine Production, 2022-2030 

Chart Forecast on Global Wind Power Installed Capacity, 2022-2030 

Chart Forecast on China's Wind Power Installed Capacity, 2022-2030

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