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Wind Turbine Generator Market Is Expected To Reach Net Valuation Of More Than US$ 90.7 Billion By 2022 To 2032

05-26-2022 01:07 PM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

Wind Turbine Generator Market Is Expected To Reach Net Valuation

Global sales of wind turbine generators have reached US$ 21 billion in 2022, and are set to top US$ 35.4 billion by 2032, increasing at a CAGR of around 5.4% over the next ten years. Demand for wind turbine generators across the world stood at around US$ 19.7 billion in valuation in 2021, accounting for 6% share of the global wind turbine market in terms of value.

The adverse impact of non-renewable sources of energy has forced countries across the world to lay down favorable regulations for renewable energy. Demand for geared drive wind turbine generators is expected to grow 1.4X, while that for direct drive wind turbine generators is 2.3X by 2032.

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Competitive Landscape

Fact.MR has profiled the following key wind turbine generator companies in its report - Acciona, Bergey Windpower Co., CRRC Wind Power Co., Ltd, Doosan Heavy Industries & Construction, Enercon GmbH, Eocycle Technologies Inc, General Electric, Hitachi Ltd, HYOSUNG HEAVY INDUSTRIES, Hyundai Heavy Industries Co., Ltd, MAPNA Group, Ming Yang Wind Power Group Limited, Mitsubishi, Nordex SE, RRB Energy Limited, SANY Group, Shanghai Electric, Siemens Gamesa Renewable Energy, S.A., Suzlon Energy Ltd., and Vestas Wind Systems A/S.

These key wind turbine generator manufacturers are constantly innovating product designs to meet modern-day challenges related to component placement in harsh environments. 

Companies are developing constructive partnerships and collaborations with end-use industries and governments. Owing to the high demand for wind turbines, market players can expand their product offerings. Market participants are channelizing their resources and capital focusing on R&D while trying to expand their regional bases.

In July 2020, Mitsubishi Heavy Industries (MHI) and Copenhagen Infrastructure Partners (CIP) announced a joint venture regarding the development of offshore wind projects in Hokkaido, Japan.
In Aug 2021, Ming Yang Wind Power Group Limited launched MySE 16.0-242, designed for high-wind IEC IB hybrid drive.

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Key Segments Covered in Wind Turbine Generator Industry Research
Wind Turbine Generator Market by Generator Type :
Direct Current Generators
Alternating Current Asynchronous Generators
Fixed Speed Induction Generators (FSIG) / Squirrel Cage Induction Generators (SQIG)
Doubly Feed Induction Generators
Alternating Current Synchronous Generators
Permanent Magnets Synchronous Generators (PMSG)
Electrically Excited Synchronous Generators (EESG)
Switched Reluctance Generators
Wind Turbine Generator Market by Capacity :
Up to 1 MW Wind Turbine Generators
1-5 MW Wind Turbine Generators
5-10 MW Wind Turbine Generators
Above 10 MW Wind Turbine Generators

Wind Turbine Generator Market by Drive :

Direct Drive Wind Turbine Generators
Geared Drive Wind Turbine Generators

Wind Turbine Generator Market by Speed :

Fixed Wind Turbine Generators
Variable Wind Turbine Generators

Wind Turbine Generator Market by Deployment :

Onshore Wind Turbine Generators
Offshore Wind Turbine Generators

Wind Turbine Generator Market by Region :

North America
Latin America
East Asia
South Asia and Oceania 
Middle East & Africa

Explore Fact.MR's Comprehensive Coverage on Industrial Goods Domain:

Utility Locator Market -
East Asia & South Asia are anticipated to hold a significant share in terms of value in the utility locator market due to the rapid growth in the oil & gas and transportation industries. European countries, such as Germany and France, are projected to witness significant share in the utility locator market due to the rapid growth in the water & utility and telecommunication industry.

Firestop Sealants Market -
The key driving factor for the global firestop sealants market is persistently evolving residential, commercial and industrial sector, which have resulted in an increased demand for firestop sealants across all major developing economies. The macroeconomic factors, such as booming industrial activities coupled with up gradation in fire protection, increase in safety guidelines and regulations for industries in many countries is further augmenting the sales for firestop sealants.

Centrifugal Chiller Market -
Global demand for centrifugal chillers is expected to heighten significantly in 2021, according to Fact.MR, a market research and competitive intelligence firm. The centrifugal chiller industry's momentum will revive as the COVID-19-induced slowdown fades, as variables in the demand-supply equation realign themselves.

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