The Wind Energy Global Market Report 2023, provides comprehensive information on the wind energy market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Wind Energy Global Market Report 2023, the 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 market size of global wind energy market is expected to reach $129.12 billion in 2027 at a CAGR of 9.3%.
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Technological advancements are a key trend gaining popularity in the wind energy market. Major companies operating in the wind energy market are developing products with advanced technologies to sustain their position in the wind energy market. For instance, in July 2022, WEG Industries, a Brazil-based electric engineering company, launched a brand-new wind turbine platform with Medium-Speed Geared (MSG) drive technology and features a 7 MW and a 172 meters rotor diameter. Its unique features enable seamless electrical grid hookup and flexibility to adjust to and adhere to various grid codes in each region because it is integrated with a full power drive. It can produce reactive energy when there is no wind, which has extra benefits in addition to producing power. The redesigned design also includes modular components, such as a taller tower, to improve logistical procedures and provide an easier assembly idea, particularly for uneven geographic locations.
The wind energy market 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, Industrial, Commercial, Residential
Asia-Pacific was the largest region in the wind energy market in 2022.
The table of contents in TBRC’s wind energy market report includes:
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
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26. Africa Wind Energy Market
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
Top Major Players:
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