Global Demand For Wind Energy Market 2023 - Segmentation Analysis, Top Players, Competitive Strategies, Industry Trends And Forecast To 2032 || Siemens Gamesa Renewable Energy, ABB India Limited, Suzlon Energy Ltd

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

Wind Energy Market Size, Growth Rate, And Forecast

The global wind energy market is expected to grow from $81.73 billion in 2022 to $90.33 billion in 2023 at a compound annual growth rate (CAGR) of 10.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The wind energy market is expected to reach $129.12 billion in 2027 at a CAGR of 9.3%.

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Wind Energy Market Drivers

An increase in the adoption of renewable energy sources is expected to propel the growth of the wind energy market going forward. The energy produced from naturally renewing but flow-restricted sources are referred to as renewable energy. The increasing use of renewable energy is creating a huge demand for wind energy as it is a clean, cost-free, and easily accessible source of renewable energy. For instance, in June 2022, as per the report by the U.S. Energy Information Administration, a US-based energy organization, the primary source of the entire yearly U.S. energy consumption was biomass. Approximately 5 quadrillion British thermal units (Btu) and 5% of all primary energy used in the United States were provided by biomass in 2021. Biofuels accounted for approximately 2,316 TBtu (mainly ethanol) of the total; 2,087 TBtu from wood and biomass derived from wood; and 431 TBtu from biomass found in municipal solid waste and sewage, animal manure, and agricultural leftovers. Thus, an increase in the adoption of renewable energy sources is driving the growth of the wind energy market.

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Wind Energy Market Segments

• By Turbine Type: Horizontal Axis, Vertical Axis

• By Component: Turbine, Support Structure, Electrical Infrastructure, Other Components

• By Location: Onshore, Offshore

• By Application: Utility, Industrial, Commercial, Residential

• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the wind energy market.

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Wind Energy Market Key Players
Major competitors in the wind energy market are Siemens Gamesa Renewable Energy, ABB India Limited, Suzlon Energy Ltd., Ørsted A/S, Goldwind, ReGen Powertech, Vensys Energy, Wind World (India) Limited, United Power.

The Business Research Company's "Global Wind Energy Market Report 2023" is a comprehensive report of the market, covering over 60 geographies and high level market segmentation per geography. The section on regional and country breakdowns examines the market in each geography as well as market size by region and country. Furthermore, it evaluates the market's historical and projected growth and identifies significant trends and strategies that businesses can use to expand their operations.

The Table Of Content For The Wind Energy Market Include:
1. Executive Summary
2. Wind Energy Market Characteristics
3. Wind Energy Market Trends And Strategies
4. Wind Energy Market - Macro Economic Scenario
5. Wind Energy Market Size And Growth
………………
27. Wind Energy Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Wind Energy Market
29. Wind Energy Market Future Outlook and Potential Analysis
30. Appendix

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