Wind Turbine Generator Market Trends

  • Report ID: 2933
  • Published Date: Dec 24, 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

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increased focus of the countries in the APAC region towards wind power is one of the significant factors driving the market's growth. Countries such as China and India will be the primary revenue donors to the APAC wind turbine generator market in the coming years. CLICK TO DOWNLOAD SAMPLE REPORT

Wind Turbine Generator Market

The global wind turbine generator market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Base Year

2024

Forecast Year

2025-2037

CAGR

5.3%

Base Year Market Size (2024)

USD 23.33 billion

Forecast Year Market Size (2037)

USD 45.65 billion

Regional Scope

  • North America (U.S., and Canada)
  • Asia Pacific (Japan, China, India, Indonesia, Malaysia, Australia, South Korea, Rest of Asia Pacific)
  • Europe (UK, Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Latin America (Mexico, Argentina, Brazil, Rest of Latin America)
  • 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: Dec 24, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2025, the industry size of wind turbine generator is evaluated at USD 24.38 billion.

Wind Turbine Generator Market size was valued at USD 23.33 billion in 2024 and is set to exceed USD 45.65 billion by 2037, expanding at over 5.3% CAGR during the forecast period i.e., between 2025-2037.

Asia Pacific industry is predicted to account for largest revenue share by 2037, owing to increased focus towards wind power in the region.

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