Wind Energy Market Size is Expected to Grow by 165.58MW from 2021-26

This report analyzes the wind energy market by the end-user (commercial and domestic) and installation sites (offshore and onshore).

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NEW YORK – The wind energy market size is expected to grow by 165.58MW from 2021 to 2026. However, the growth momentum of the market will decelerate at a CAGR of 9.24%. The rising investments in wind energy projects are driving the wind energy market growth in Austria, but factors such as the adoption of alternative renewable energy sources may challenge the market growth.

Revenue-Generating End-user Segments

The commercial segment will have significant market share growth during the forecast period. Wind power systems are used for industrial applications such as telecommunications, radar, pipeline control, navigational aids, cathodic protection, and weather stations/seismic monitoring, among others.

Wind Energy Market: Driver and Trend

The rising investments in wind energy projects are driving the growth of the wind energy market in Austria. The Green Electricity Act “Ökostromgesetz” (GEA) had established a long-term target of adding 2,000 MW of wind power capacity by 2020. In July 2021, the Austrian Federal Parliament passed the Renewable Energy Expansion Act Package (REEAP) to promote renewable sources, including wind power, for the generation of electricity. To reach the target of 100% green electricity generation, the Government of Austria plans to raise the production of green electricity level by 2030. These expansion plans will positively impact the wind energy market in Austria during the forecast period.

The growing concerns regarding decarbonization are a trend in the market. For instance, in May 2018, the Austrian Federal Government adopted the Climate and Energy Strategy (Mission 2030) to reach the 2030 targets of decarbonization and meet the long-term goals of establishing a carbon-free energy sector in Austria by 2050. The government also enacted a new climate protection law to reduce greenhouse gas emissions by 2040. The share of coal, oil, and natural gas is being replaced by increased use of renewable energy sources, including wind.

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Wind Energy Market: Vendor Analysis

The wind energy market in Austria is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market. The wind energy market in Austria can offer information on several market vendors, including ABB Ltd., American Superconductor Corp., ContourGlobal Plc, ENERCON GmbH, General Electric Co., Leitwind SPA, Siemens AG, Suzlon Energy Ltd., Vensys Energy AG, and Vestas Wind Systems AS among others.

Reasons to Buy Wind Energy Market Report:

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will assist wind energy market growth during the next five years
  • Estimation of the wind energy market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the wind energy market across APAC
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of wind energy market vendors

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Wind Energy Market Scope
Report CoverageDetails
Page number120
Base year2021
Forecast period2022-2026
Growth momentum & CAGRDecelerate at a CAGR of 9.24%
Market growth 2022-2026165.58 MW
Market structureFragmented
YoY growth (%)11.11
Regional analysisAPAC
Performing market contributionAustria at 100%
Key consumer countriesAustria and Rest of Europe
Competitive landscapeLeading companies, competitive strategies, consumer engagement scope
Companies profiledABB Ltd., American Superconductor Corp., ContourGlobal Plc, ENERCON GmbH, General Electric Co., Leitwind SPA, Siemens AG, Suzlon Energy Ltd., Vensys Energy AG, and Vestas Wind Systems AS
Market DynamicsParent 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 purviewIf 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 Contents

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2021
  • Market outlook: Forecast for 2021 – 2026

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by End-user

  • Market segments
  • Comparison by End-user
  • Commercial – Market size and forecast 2021-2026
  • Domestic – Market size and forecast 2021-2026
  • Market opportunity by End-user

Market Segmentation by Installation sites

  • Market segments
  • Comparison by Installation sites
  • Offshore – Market size and forecast 2021-2026
  • Onshore – Market size and forecast 2021-2026
  • Market opportunity by Installation sites

Customer landscape

  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • ABB Ltd.
  • American Superconductor Corp.
  • ContourGlobal Plc
  • ENERCON GmbH
  • General Electric Co.
  • Leitwind SPA
  • Siemens AG
  • Suzlon Energy Ltd.
  • Vensys Energy AG
  • Vestas Wind Systems AS

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations
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