Germany Wind Power Market Insights
According to MRFR analysis, the Germany Wind Power Market is expected to register a CAGR of~12% from 2024 to 2030 and hold a value of over USD 262.20 billion by 2030.
The Germany Wind Power Market refers to the worldwide industry of producing electricity from wind energy through the use of wind turbines. It includes the development, manufacturing, installation, and maintenance of Germany Wind Power facilities, as well as the buying and selling of Germany Wind Power equipment and electricity. The market size and growth are influenced by factors such as government policies, technological advancements, environmental concerns, and the demand for renewable energy sources.
The COVID-19 pandemic had a significant impact on the Germany Wind Power market. The pandemic has disrupted the global supply chain, causing delays in the delivery of wind turbines, components, and materials.
The pandemic has caused economic uncertainty, making it more challenging for Germany Wind Power projects to secure financing. Investors are more cautious, and financing terms have become less favorable.
Regional Evaluation
The following are some of the major findings from the industry's regional analysis:
Emerging trends in countries with economies like Brazil, South Africa, etc. provide the Germany Wind Power sector with significant prospects for corporate expansion. Given the high levels of growth in these nations, an increase in energy consumption is anticipated, with renewable energy making up a significant portion of it.
In terms of market share for Germany Wind Power globally, North America dominates and is also the most competitive. This expansion, which is driven by an increase in domestic system output, is anticipated to continue trending upward during the projected period.
The offshore wind industry in the UK is anticipated to grow by 100% during the forecast period thanks to strong political and governmental support from the country's Department for Business, Energy, and Industrial Strategy. Germany, China, and the United Kingdom are the market leaders for offshore wind turbines (BEIS).
China is the leader in the Asia Pacific area for the growth of the Germany Wind Power industry in terms of electricity production and consumption, while India is closely behind with its growing emphasis on offshore developments.
Key Players
Some of the key market players are:
- General Electric (US)
- Senvion SA (Germany)
- Wind World Limited (India)
- Orient Green Power Company (India)
- Indowind (India)
- DNV GL (Norway)
- Siemens Gamesa Renewable Energy SA (Spain)
- Goldwind (China)
- Bergey Germany Wind Power (US),
Market segmentation:
The axis type, installation, component, application, and geography are used to divide the market for wind turbines. The market is divided into two categories: horizontal and vertical, depending on the axis type. On-shore and off-shore are separated based on the installation. It is divided into rotator blades, gearboxes, generators, nacelles, and other categories according on the component. It is divided into four categories based on application: industrial, commercial, residential, and utility. It is examined from the perspectives of North America, Europe, Asia-Pacific, and LAMEA.
The research of the worldwide wind turbine market includes comprehensive data on the key players in the sector. Enercon GmbH, Gamesa, General Electric, Goldwind, Guodian United Power Technology Company Ltd., Ming Yang, Siemens, Sinovel Wind Group Co. Ltd., Suzlon Energy Ltd., and Vestas Wind Systems A/S are some of the major companies functioning and highlighted in the research.
Axis Research, "Global Wind Turbine Market" Type Type-wise, the vertical segment led the worldwide market in 2020 and is anticipated to continue increasing at the quickest rate through the forecast period to 2030. This may be due to its key characteristics, which include great efficiency and cheap cost.
By Kind
Between 2020 and 2027, offshore wind energy accounted for the largest market increase. This is explained by the fact that offshore wind turbines have a larger capacity factor. Due to the constant wind flow along the seashore, offshore wind turbines have high capacity factors. For instance, the capacity factor for an offshore wind turbine is between 0.5 and 0.7, whereas the capacity factor for an onshore wind turbine is between 0.25 and 0.3.
Market for Wind Energy Worldwide, By End-User
Due to a growth in the demand for renewable energy sources, the industrial end-user accounted for a sizeable portion of revenue in 2019. In remote and rural locations without access to the grid, Germany Wind Power is in high demand. However, because wind energy depends so heavily on government incentive programmes, both the price and demand are quite unstable.
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