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Wind Turbine Generator Market Trends

  • Report ID: 2933
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Wind Turbine Generator Market Trends

Growth Drivers

  • Rising Wind Energy Consumption
  • Supportive Government Policies for Wind Energy Projects

Challenges

  • High Cost of Generators
  • Complexity in Installation & Maintenance

Wind Turbine Generator Market: Key Insights

Base Year

2023

Forecast Year

2024–2036

CAGR

5.3%

Base Year Market Size (2023)

USD 22.16 billion

Forecast Year Market Size (2036)

USD 43.36 billion

Regional Scope
  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Browse Key Market Insights with Data Illustration:

Author Credits:  Dhruv Bhatia


  • Report ID: 2933
  • Published Date: Sep 23, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Rising wind energy consumption and supportive government policies for wind energy projects are the key factors driving market growth.

The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.

High cost of generators and complexity in installation & maintenance are estimated to hamper market growth.

The market in Asia Pacific region will provide ample growth opportunities owing to the increased focus of the countries in the region towards wind power.

The major players dominating the wind turbine generator market are ABB Ltd., AVANTIS Energy Group, Vestas Wind Systems A/S, and Suzlon Energy Ltd among others.
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