Prominent Wind Energy Market Trend for 2025: Weg Industries Unveils Advanced 7 Mw Wind Turbine Platform With Medium-Speed Geared Drive Technology

How Are the key drivers contributing to the expansion of the wind energy market?
The escalation in the use of renewable energy sources is projected to encourage the expansion of the wind energy market in the future. Renewable energy refers to energy obtained from resources that can naturally replenish, but there is a limit to their flow. The rising deployment of renewable energy is giving rise to a significant demand for wind energy since it is a clean, free of cost, and readily available renewable energy option. For example, the U.S. Energy Information Administration, an energy institution based in the U.S., disclosed in a June 2022 report that biomass was the predominant source of the total annual U.S. energy consumption. In 2021, biomass supplied around 5 quadrillion British thermal units (Btu), which constitutes 5% of all primary energy utilized in the United States. Out of the total, biofuels accounted for approximately 2,316 TBtu (largely ethanol), wood and wood-derived biomass contributed 2,087 TBtu, and 431 TBtu was provided by biomass sourced from municipal solid waste and sewage, animal waste, and surplus from farming. Hence, the escalating adoption of renewable energy sources is stimulating the advancement of the wind energy market.

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What growth opportunities are expected to drive the wind energy market's CAGR through 2034?
The scale of the wind energy market has expanded at a fast pace in the past few years. The market is projected to rise from $126.77 billion in 2024 to $141.16 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.4%. The expansion during the historic phase can be linked to the growth of emerging markets, heightened demand for clean energy alternatives, substantial environmental implications of traditional power generation methods, and the rise in fuel expenses.

It is anticipated that the wind energy market will experience swift expansion in the coming years, growing to a value of $219.67 billion by 2029, with a compound annual growth rate (CAGR) of 11.7%. This predicted increase for the forecasted period can be linked to factors such as global population growth and urban development, heightened electricity demand and a growing emphasis on alternative energy sources. The future trends within this timeframe will likely consist of wind-solar hybrid systems, robot inspection mechanisms, recyclable wind turbines, application of artificial intelligence (AI), expansion of new plants, product innovations, as well as various collaborations and acquisitions.

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What trends are poised to drive the future success of the wind energy market?
The key trend gaining traction in the wind energy market is technological innovation. Leading businesses in this sector are crafting products entailing cutting-edge technology to ensure their foothold in the market remains strong. For example, in July 2022, WEG Industries, an electrical engineering firm based in Brazil, unveiled an innovative wind turbine platform integrated with Medium-Speed Geared (MSG) drive technology, boasting of a 7MW capacity and 172-meter rotor diameter. This unique platform allows for easy connection to the electrical grid and the adaptability to comply with different grid codes across regions since it incorporates a full power drive. It also has the ability to generate reactive energy even in windless conditions, providing added advantages apart from power generation. Additionally, the restructured design includes modular components such as an elevated tower, aimed at optimizing logistical processes and easing the assembly process, especially in uneven terrains.

Which growth-oriented segments of the wind energy market are leading the industry's development?
The wind energy market covered in this report is segmented -

1) By Turbine Type: Horizontal Axis, Vertical Axis
2) By Component: Turbine, Support Structure, Electrical Infrastructure, Other Components
3) By Location: Onshore, Offshore
4) By Application: Utility, Non-Utility

Subsegments:
1) By Horizontal Axis Turbine (HAT): Small Horizontal Axis Turbines, Medium Horizontal Axis Turbines, Large Horizontal Axis Turbines
2) By Vertical Axis Turbine (VAT): Darrieus Vertical Axis Turbines, Savonius Vertical Axis Turbines

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What regions are leading the charge in the wind energy market?
Asia-Pacific was the largest region in the wind energy market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the wind energy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What companies are at the forefront of innovation in the wind energy market?
Major companies operating in the wind energy market include Siemens Energy AG, Xinjiang Goldwind Science & Technology Co. Ltd, General Electric Company, Vestas Wind Systems A/S, Nordex SE,Enercon GmbH, China Ming Yang, Suzlon Energy Ltd., Dongfang Electric Corporation Limited, ABB Limited, Goldwind, Envision Energy, MINGYANG, Gamesa, SHANGHAI ELECTRIC, CSSC, Suzlon Energy Limited, Adani Green Energy Limited, NTPC Limited, Teroc AB, ENO Energy GmbH, Greenbyte AB, ENS Energy GmbH, MOWEA GmbH, Voltalia, EuroCape, Kola Wind Farm, Rosatom, Venture Round - NabraWind Technologies, NovaWind, NextEra Energy, TPI Composites, Clearway Energy, Pampa Energia SA, YPF Luz, Enel Green Power S.p.A., Genneia SA, 360 Energy SA, CPFL Energias Renovaveis SA, ENGIE Brazil, Eletrobras Furnas, Omega Geracao SA, Allegheny Technologies Incorporated (ATI), meteocontrol AMEA DMCC, BELECTRIC Gulf, NNQ Energy, Lake Turkana Wind Farm, Tarfaya Wind Farm, Ras Ghareb Wind Farm, West Bakr Wind Project, Adama I & Ii Wind Farm, Taiba N'diaye Wind Farm, Kangnas Wind Farm

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What Is Covered In The Wind Energy Global Market Report?

• Market Size Forecast: Examine the wind energy market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the wind energy market for a structured understanding.
• Key Players Overview: Analyze major players in the wind energy market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the wind energy market.
• Segment Contributions: Evaluate how different segments drive overall growth in the wind energy market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the wind energy market.
• Industry Challenges: Identify potential risks and obstacles affecting the wind energy market.
• Competitive Landscape: Review strategic developments in the wind energy market, including expansions, agreements, and new product launches.

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