Wind turbine generator sales have surpassed US$ 21 billion globally in 2022 and are anticipated to surpass US$ 35.4 billion by 2032, growing at a CAGR of roughly 5.4% over the next ten years.
In 2021, the global demand for wind turbine generators was estimated to be worth roughly US$ 19.7 billion, or 6% of the market for wind turbines overall.
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Over the next ten years, it is anticipated that rising demand for wind turbine generators would propel market growth, particularly in East Asia and Europe. Over the forecast period, it is expected that increased use of wind turbine generators with capacities between 5 and 10 MW will generate an absolute $ opportunity of US$ 8.7 billion.
Furthermore, the market’s growth is anticipated to be aided by the increasing use of variable speed wind turbine generator products between 2022 and 2032. Furthermore, it is anticipated that the installation of wind turbine generators would rise in China, which will have the greatest production capacity of wind turbine generators in 2021 with a share of 58%.
Key Companies Profiled
- Bergey Windpower Co.
- CRRC Wind Power Co., Ltd
- Doosan Heavy Industries & Construction
- Enercon GmbH
- Eocycle Technologies Inc
- General Electric
- Hitachi, Ltd
- HYOSUNG HEAVY INDUSTRIES
- Hyundai Heavy Industries Co., Ltd
- MAPNA Group
- Ming Yang Wind Power Group Limited
- Mitsubishi
- Nordex SE
- RRB Energy Limited
- SANY Group
- Shanghai Electric
The specialists at Fact.MR have undertaken extensive rounds of primary and thorough secondary research, examined the resulting data, and used it to create market projections and estimates.
The Fact.MR analysts have made use of varied industry-wide prominent tools of market intelligence to gather, collate, and analyze market data, figures, and facts to arrive at revenue estimations and projections in the Global Wind Turbine Generator Market.
Key Data Points Covered in the Report: –
- Elaborated scenario of the parent market
- Transformations in the market dynamics
- Detailed segmentation of the target market
- Historical, current and forecast market size based on value and volume
- Latest industry developments and trends
- Competition Landscape
- Strategies adopted by the market players and product developments made
- Potential and niche segments, along with their regional analysis
- Unbiased analysis on performance of the market
- Up-to-date and must-have intelligence for the market players to enhance and sustain their competitiveness
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Which Type of Wind Turbine Generator Will See High Installation Rates?
Direct-drive wind turbine generators are rapidly gaining popularity in the market for wind turbine generators. The effectiveness of wind generators with the capability to adjust the speed of the generator at the needed scale has become a crucial component for wind energy generation since market requirements for renewable energy products are dynamically changing.
Geared drive generators are less popular in the wind turbine generator market because they require more gear stages to function.
Direct-drive wind turbine generators are in greater demand since they require less maintenance and cost less to use related services. Businesses can operate more efficiently and at lower expenses as a result. In 2022, the market for direct-drive wind turbine generators is anticipated to be worth US$ 7.5 billion.
Key Segments Covered in Wind Turbine Generator Industry Research
By Generator Type :
- Direct Current Generators
- Alternating Current Asynchronous Generators
- Fixed Speed Induction Generators (FSIG) / Squirrel Cage Induction Generators (SQIG)
- Doubly Feed Induction Generators
- Alternating Current Synchronous Generators
- Permanent Magnets Synchronous Generators (PMSG)
- Electrically Excited Synchronous Generators (EESG)
- Switched Reluctance Generators
By Capacity :
- Up to 1 MW Wind Turbine Generators
- 1-5 MW Wind Turbine Generators
- 5-10 MW Wind Turbine Generators
- Above 10 MW Wind Turbine Generators
By Drive :
- Direct Drive Wind Turbine Generators
- Geared Drive Wind Turbine Generators
By Speed :
- Fixed Wind Turbine Generators
- Variable Wind Turbine Generators
By Deployment :
- Onshore Wind Turbine Generators
- Offshore Wind Turbine Generators
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa
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