Wind Turbine Generator Market - 56% of Growth to Originate from APAC|Onshore Segment to be Significant for Revenue Generation| Technavio

NEW YORK, May 16, 2022 /PRNewswire/ -- The wind turbine generator market estimates a market value of USD 9.46 billion from 2021 to 2026 as per the latest market report by Technavio. In addition, the report projects the market to progress at a CAGR of 4.86%. 56% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for wind turbine generators in APAC. Market growth in this region will be faster than the growth of the market in other regions. The significant increase in investment in renewable energy, including wind power, in countries such as China, will facilitate the wind turbine generator market growth in APAC over the forecast period.

Technavio has announced its latest market research report titled
 Wind Turbine Generator Market by Application and Geography - Forecast and Analysis 2022-2026

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Wind Turbine Generator Market: Segmentation Analysis

The market research report segments the wind turbine generator market by Application (Onshore and Offshore) and Geography (APAC, Europe, North America, South America, and the Middle East and Africa).

The wind turbine generator market share growth by the onshore segment will be significant for revenue generation. The high wind turbine generator market share of the onshore segment is attributed to the lower capital requirement compared with the offshore segment. 

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Wind Turbine Generator Market: Rise in wind energy consumption to drive growth
The key factor driving the global wind turbine generator industry growth is the rise in wind energy consumption. Wind power is one of the most abundant sources of alternative energy. The developed, as well as developing countries, are focusing on renewable sources to produce power because of the depletion of conventional sources of energy and growing GHG emissions. According to GWEC, China was the leading country in terms of cumulative installed wind power capacity. China added a wind capacity of 26,798 MW in 2021. The growing awareness about the benefits of wind energy is fueling the demand for wind turbine generators. Countries such as Denmark, Spain, Germany, and the UK produce over 10% of their power by using wind energy. Such factors will boost the demand for wind turbine generators during the forecast period.

Wind Turbine Generator Market: R&D in direct-drive generators for wind turbines is a major trend
R&D in direct-drive generators for wind turbines is one of the key wind turbine generator market trends that is expected to impact the industry positively in the forecast period. Wind turbine direct-train technology offers various advantages when compared with conventional turbines. Some of them include generators that will eliminate the need for a gearbox, and thus, the turbine will involve fewer moving parts than geared drive trains. In the absence of the gearbox, direct-drive wind turbines run with the help of the generator and rotor, which rotate as an integrated unit. Without gearboxes, direct-drive turbines are also lighter in weight. The key market players such as Siemens and GE are already experimenting with direct-drive turbines, especially in offshore wind farms. The high investment in R&D will further support the market growth in the coming years.

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Wind Turbine Generator Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 4.86%

Market growth 2022-2026

USD 9.46 billion

Market structure

Fragmented

YoY growth (%)

3.52

Performing market contribution

APAC at 56%

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

ABB Ltd., Alxion, AVANTIS Energy Group, Bergey Wind Power Co., Bora Energy, Doosan Corp., Emergya Wind Technologies BV, ENERCON GmbH, Equinor ASA, General Electric Co., Hitachi Ltd., Nordex SE, Principle Power Inc., ReGen Powertech Pvt Ltd., SANY Group, Siemens Gamesa Renewable Energy SA, Sinovel Wind Group Co. Ltd., Suzlon Energy Ltd., Vestas Wind Systems AS, and Xinjiang Goldwind Science and Technology Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of Content

1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
  • 3.4 Market outlook: Forecast for 2021-2026
    • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
    • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
    • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

  • 4.1 Five forces summary
    • Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
  • 4.2 Bargaining power of buyers
    • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
  • 4.3 Bargaining power of suppliers
    • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
  • 4.4 Threat of new entrants
    • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
  • 4.5 Threat of substitutes
    • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
  • 4.6 Threat of rivalry
    • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
  • 4.7 Market condition
    • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

  • 5.1 Market segments
    • Exhibit 24: Chart on Application - Market share 2021-2026 (%)
    • Exhibit 25: Data Table on Application - Market share 2021-2026 (%)
  • 5.2 Comparison by Application
    • Exhibit 26: Chart on Comparison by Application
    • Exhibit 27: Data Table on Comparison by Application
  • 5.3 Onshore - Market size and forecast 2021-2026
    • Exhibit 28: Chart on Onshore - Market size and forecast 2021-2026 ($ million)
    • Exhibit 29: Data Table on Onshore - Market size and forecast 2021-2026 ($ million)
    • Exhibit 30: Chart on Onshore - Year-over-year growth 2021-2026 (%)
    • Exhibit 31: Data Table on Onshore - Year-over-year growth 2021-2026 (%)
  • 5.4 Offshore - Market size and forecast 2021-2026
    • Exhibit 32: Chart on Offshore - Market size and forecast 2021-2026 ($ million)
    • Exhibit 33: Data Table on Offshore - Market size and forecast 2021-2026 ($ million)
    • Exhibit 34: Chart on Offshore - Year-over-year growth 2021-2026 (%)
    • Exhibit 35: Data Table on Offshore - Year-over-year growth 2021-2026 (%)
  • 5.5 Market opportunity by Application
    • Exhibit 36: Market opportunity by Application ($ million)

6 Customer Landscape

  • 6.1 Customer landscape overview
    • Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

  • 7.1 Geographic segmentation
    • Exhibit 38: Chart on Market share by geography 2021-2026 (%)
    • Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
  • 7.2 Geographic comparison
    • Exhibit 40: Chart on Geographic comparison
    • Exhibit 41: Data Table on Geographic comparison
  • 7.3 APAC - Market size and forecast 2021-2026
    • Exhibit 42: Chart on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 43: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
    • Exhibit 44: Chart on APAC - Year-over-year growth 2021-2026 (%)
    • Exhibit 45: Data Table on APAC - Year-over-year growth 2021-2026 (%)
  • 7.4 Europe - Market size and forecast 2021-2026
    • Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
    • Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
    • Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
  • 7.5 North America - Market size and forecast 2021-2026
    • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
    • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
  • 7.6 South America - Market size and forecast 2021-2026
    • Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
    • Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
    • Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
  • 7.7 Middle East and Africa - Market size and forecast 2021-2026
    • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
    • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
  • 7.8 China - Market size and forecast 2021-2026
    • Exhibit 62: Chart on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 63: Data Table on China - Market size and forecast 2021-2026 ($ million)
    • Exhibit 64: Chart on China - Year-over-year growth 2021-2026 (%)
    • Exhibit 65: Data Table on China - Year-over-year growth 2021-2026 (%)
  • 7.9 US - Market size and forecast 2021-2026
    • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
    • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
    • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
  • 7.10 Germany - Market size and forecast 2021-2026
    • Exhibit 70: Chart on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 71: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
    • Exhibit 72: Chart on Germany - Year-over-year growth 2021-2026 (%)
    • Exhibit 73: Data Table on Germany - Year-over-year growth 2021-2026 (%)
  • 7.11 India - Market size and forecast 2021-2026
    • Exhibit 74: Chart on India - Market size and forecast 2021-2026 ($ million)
    • Exhibit 75: Data Table on India - Market size and forecast 2021-2026 ($ million)
    • Exhibit 76: Chart on India - Year-over-year growth 2021-2026 (%)
    • Exhibit 77: Data Table on India - Year-over-year growth 2021-2026 (%)
  • 7.12 UK - Market size and forecast 2021-2026
    • Exhibit 78: Chart on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 79: Data Table on UK - Market size and forecast 2021-2026 ($ million)
    • Exhibit 80: Chart on UK - Year-over-year growth 2021-2026 (%)
    • Exhibit 81: Data Table on UK - Year-over-year growth 2021-2026 (%)
  • 7.13 Market opportunity by geography
    • Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

  • 8.1 Market drivers
  • 8.2 Market challenges
  • 8.3 Impact of drivers and challenges
    • Exhibit 83: Impact of drivers and challenges in 2021 and 2026
  • 8.4 Market trends

9 Vendor Landscape

  • 9.1 Overview
  • 9.2 Vendor landscape
    • Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
  • 9.3 Landscape disruption
    • Exhibit 85: Overview on factors of disruption
  • 9.4 Industry risks
    • Exhibit 86: Impact of key risks on business

10 Vendor Analysis

  • 10.1 Vendors covered
    • Exhibit 87: Vendors covered
  • 10.2 Market positioning of vendors
    • Exhibit 88: Matrix on vendor position and classification
  • 10.3 ABB Ltd.
    • Exhibit 89: ABB Ltd. - Overview
    • Exhibit 90: ABB Ltd. - Business segments
    • Exhibit 91: ABB Ltd. - Key news
    • Exhibit 92: ABB Ltd. - Key offerings
    • Exhibit 93: ABB Ltd. - Segment focus
  • 10.4 Alxion
    • Exhibit 94: Alxion - Overview
    • Exhibit 95: Alxion - Product / Service
    • Exhibit 96: Alxion - Key offerings
  • 10.5 AVANTIS Energy Group
    • Exhibit 97: AVANTIS Energy Group - Overview
    • Exhibit 98: AVANTIS Energy Group - Product / Service
    • Exhibit 99: AVANTIS Energy Group - Key offerings
  • 10.6 Bora Energy
    • Exhibit 100: Bora Energy - Overview
    • Exhibit 101: Bora Energy - Product / Service
    • Exhibit 102: Bora Energy - Key offerings
  • 10.7 ENERCON GmbH
    • Exhibit 103: ENERCON GmbH - Overview
    • Exhibit 104: ENERCON GmbH - Product / Service
    • Exhibit 105: ENERCON GmbH - Key offerings
  • 10.8 General Electric Co.
    • Exhibit 106: General Electric Co. - Overview
    • Exhibit 107: General Electric Co. - Business segments
    • Exhibit 108: General Electric Co. - Key news
    • Exhibit 109: General Electric Co. - Key offerings
    • Exhibit 110: General Electric Co. - Segment focus
  • 10.9 Hitachi Ltd.
    • Exhibit 111: Hitachi Ltd. - Overview
    • Exhibit 112: Hitachi Ltd. - Business segments
    • Exhibit 113: Hitachi Ltd. - Key news
    • Exhibit 114: Hitachi Ltd. - Key offerings
    • Exhibit 115: Hitachi Ltd. - Segment focus
  • 10.10 SANY Group
    • Exhibit 116: SANY Group - Overview
    • Exhibit 117: SANY Group - Product / Service
    • Exhibit 118: SANY Group - Key offerings
  • 10.11 Siemens Gamesa Renewable Energy SA
    • Exhibit 119: Siemens Gamesa Renewable Energy SA - Overview
    • Exhibit 120: Siemens Gamesa Renewable Energy SA - Business segments
    • Exhibit 121: Siemens Gamesa Renewable Energy SA - Key offerings
    • Exhibit 122: Siemens Gamesa Renewable Energy SA - Segment focus
  • 10.12 Suzlon Energy Ltd.
    • Exhibit 123: Suzlon Energy Ltd. - Overview
    • Exhibit 124: Suzlon Energy Ltd. - Business segments
    • Exhibit 125: Suzlon Energy Ltd. - Key offerings
    • Exhibit 126: Suzlon Energy Ltd. - Segment focus

11 Appendix

  • 11.1 Scope of the report
  • 11.2 Inclusions and exclusions checklist
    • Exhibit 127: Inclusions checklist
    • Exhibit 128: Exclusions checklist
  • 11.3 Currency conversion rates for US$
    • Exhibit 129: Currency conversion rates for US$
  • 11.4 Research methodology
    • Exhibit 130: Research methodology
    • Exhibit 131: Validation techniques employed for market sizing
    • Exhibit 132: Information sources
  • 11.5 List of abbreviations
    • Exhibit 133: List of abbreviations

About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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