Europe Wind Turbine Generator Market report shares latest trends and future growth study by 2030

The Europe wind turbine generator market was valued at US$ 975.33 million in 2022 and is expected to reach US$ 2,635.44 million by 2030; it is estimated to record a CAGR of 13.2% from 2022 to 2030.

Rising Wind Farms Drive Europe Wind Turbine Generator Market

There is an increase in demand for a clean energy source as it eliminates greenhouse gases, reduces dependence on imported fuels, and diversifies the energy supply. This is fueling government investments in the construction of wind farms globally.

Grab PDF To Know More @ https://www.businessmarketinsights.com/sample/BMIRE00030073?utm_source=OpenPR&utm_medium=10868

Wind power is one of the largest sources of renewable electricity in the UK, which is expected to further grow in the coming years. According to the Office for National Statistics, the electricity generation from wind power has increased by 715% from 2009 to 2020 in the UK. Also, according to the National Grid, in 2020, Britain recorded high levels of wind energy generation, making it the greenest year on record. Furthermore, various new wind farm construction activities are going on in the UK to increase electricity generation through wind energy. For instance, in September 2022, Danish energy firm Orsted announced that Hornsea 2 offshore wind farm, the world's biggest offshore wind farm, started its operation.

MARKET INTRODUCTION

Germany, France, Italy, Russia, and the UK are among the major countries in Europe. The growing effects of global warming and climate change have made companies develop more sustainable products. The need for a newer and cleaner energy source is fueling the demand for wind energy, which drives the market growth. The decline in the cost of wind power generation, rise in awareness of environmental issues, and supportive government strategies for increasing wind capacity through financial incentives are expected to drive the market. Currently, Europe has 255 GW of installed wind power capacity. In 2022, Europe installed ~19 GW of wind energy across different countries of the region, in which almost 87% of the total installation was for the onshore platform, and the rest was for the offshore platform. Moreover, the UK held the highest number of new wind farms in the region, as most of the new offshore installations occur in the UK. Further, Europe and Asia account for more than 99% of the global offshore wind energy installations.

In Europe, Germany continues to have the largest installed wind capacity, followed by Spain, the UK, France, and Sweden. Moreover, other European countries such as Italy, Poland, Denmark, the Netherlands, Portugal, and Belgium have more than 5 GW of installed wind capacity each. According to the WindEurope report, the region is expected to install 116 GW of new wind farms from 2022 to 2026, out of which three-quarters of these new capacity additions will be onshore wind. According to the National Wind Energy Association (ANEV), Europe will install 116 GW of new wind power capacity by 2026, an average of 23.1 GW a year. Thus, such massive wind energy potential in European countries is expected to drive the market during the forecast period.
The UK government has also planned for a Green Energy Revolution, wherein the development of offshore wind power plays an important role. To comply with this, six new offshore wind projects in England and Wales are expected to be constructed for the next generation of the country's offshore wind projects. They will also play an important role in the UK's plan to cut carbon emissions. In early 2021, the UK's Crown Estate approved six fixed offshore wind projects with a combined capacity of ~8 GW. Moreover, in July 2022, the German Parliament adopted a new Onshore Wind Law to expand onshore wind by a massive 10 GW a year from 2025. Similarly, in July 2021, the European Commission approved France's US$ 30.54 billion renewables incentive program. Thus, a favorable policy framework, faster approval of projects, and increased investment from the European Commission are the key factors raising the demand for wind turbine components for the construction of new wind farms.
List of Companies Profiled in the Europe Wind Turbine Generator Market Report are:
• Envision Energy USA Ltd
• Mingyang Smart Energy Group Co
• Nordex SE
• Siemens Gamesa Renewable Energy SA
• Xinjiang Goldwind Science & Technology Co Ltd

Not Matching with Business Objective? Enquire for Customize Report @ https://www.businessmarketinsights.com/buy/single/BMIRE00030073?utm_source=OpenPR&utm_medium=10868

Key Segmentation:

The Europe wind turbine generator market is segmented based on type, deployment type, and country.

Based on type, the Europe wind turbine generator market is bifurcated into direct current and AC synchronous. The AC synchronous segment held a larger Europe wind turbine generator market share in 2022.

In terms of deployment type, the Europe wind turbine generator market is bifurcated into onshore and offshore. The onshore segment held a larger Europe wind turbine generator market share in 2022.
Based on country, the Europe wind turbine generator market is segmented into France, Germany, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the Europe wind turbine generator market in 2022.
Table of Contents

Report Overview: It includes the objectives and scope of the study and gives highlights of key market segments and players covered. It also includes years considered for the research study.

Executive Summary: It covers industry trends with high focus on market use cases and top market trends, market size by regions, and market size. It also covers market share and growth rate by regions.

Key Players: Here, the report concentrates on mergers and acquisitions, expansions, analysis of key players, establishment date of companies, and areas served, manufacturing base, and revenue of key players.

Breakdown by Product and Application: This section provides details about market size by product and application.

Regional Analysis: All of the regions and countries analyzed in the report are studied on the basis of market size by product and application, key players, and market forecast.

Profiles of International Players: Here, players are evaluated on the basis of their gross margin, price, sales, revenue, business, products, and other company details.

Market Dynamics: It includes supply chain analysis, analysis of regional marketing, challenges, opportunities, and drivers analyzed in the report.

Key Findings of the Research Study

Appendix: It includes details about research and methodology approach, research methodology, data sources, authors of the study, and a disclaimer.

Contact us:
If you have any questions about this report or would like further information, please contact us:
Contact person: Ankit Mathur
Email: sales@businessmarketinsights.com
Phone: +16467917070

About Us:
Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications.

This release was published on openPR.