글로벌 육상 풍력 터빈 시장 – 2023-2030

Overview
Global Onshore Wind Turbine Market reached US$ 51.9 billion in 2022 and is expected to reach US$ 72.6 billion by 2030, growing with a CAGR of 4.9% during the forecast period 2023-2030.
The onshore wind turbine market is expected to be driven by the growing demand for wind energy and ambitious renewable energy targets. According to IEA, in 2022, wind electricity generation surged by a remarkable 265 TWh, marking a 14% increase and reaching over 2,100 TWh. The surge in demand has sparked the need for substantial expansion, as the wind energy sector evolves to meet these challenges, Onshore Wind turbines are set to multiply, supporting the remarkable expansion of wind electricity generation capacity and contributing to a sustainable energy future.
Furthermore, the surge in demand has sparked the need for substantial expansion, as the Net Zero Emissions by 2050 Scenario aims for around 7,400 TWh of wind electricity generation by 2030, necessitating an average annual generation growth rate of approximately 17%. The growth trajectory demands an increase in annual capacity additions from 75 GW in 2022 to a substantial 350 GW in 2030. onshore wind turbines are expected to rise to the occasion, fueling this expansion by innovating in technology, potentially attracting new players to the market, investing in manufacturing capabilities and collaborating with policymakers and private sectors to overcome challenges.
Asia-Pacific holds the largest share of onshore wind turbines particularly driven by China's dominant role in wind capacity additions. According to IEA, 2022, China led the way by adding an impressive 37 GW of wind capacity. The remarkable growth aligns with China's commitment to renewable energy development, as demonstrated by the ambitious targets set in the 14th Five-Year Plan for Renewable Energy announced in 2022. The targets are poised to fuel further wind deployment across the country in the years to come.
Dynamics
Global Onshore Wind Turbine Market Expands Amid Rising Installations
The onshore wind turbine market is expected to be driven with the rapid expansion of the global wind energy industry. For instance, according to the GWEC report, wind turbine OEMs has set new records for installations. In 2022, 30 wind turbine manufacturers collectively installed 104.7 GW of new wind power capacity, despite challenges posed by the COVID-19 pandemic and increasing external costs.
As per the IEA report, the European Union has significantly accelerated its wind deployment efforts in response to the energy crisis. In 2022, the EU added 13 GW of wind power capacity. Also, U.S. has shown commitment to wind power by including generous funding for wind energy in the Inflation Reduction Act (IRA) introduced in 2022. In 2022, the total installed wind capacity reached 900 GW, with a substantial 93% of this capacity attributed to onshore wind systems. The dominance in installed capacity highlights the maturity and widespread adoption of onshore wind technology.
Government Policies and Global Expansion Efforts
The onshore wind turbine market is expected to be driven by government policies and initiatives for wind energy expansion. China has set ambitious targets in its 14th Five-Year Plan for Renewable Energy, aiming for 33% of electricity generation to come from renewables by 2025. It includes an 18% target for wind and solar technologies. In August 2022, U.S. federal government introduced the IRA, which provides significant support for renewable energy over the next decade. The support comes in the form of tax credits and other measures, fostering a more conducive market for onshore wind turbine and renewable energy projects.
Furthermore, onshore wind energy is a well-established technology with a global presence. It is currently operational in a remarkable 115 countries globally. The European Commission has proposed increasing the EU's renewable energy target for 2030 to 45% as part of the REPowerEU Plan. Also, the Green Deal Industrial Plan, announced in February 2023, aims to boost clean energy technology manufacturing, including wind power.
Moreover, India announced ambitious targets during COP26 in November 2021. Thee targets include achieving 500 GW of total non-fossil power capacity by 2030 and a 50% share of renewable electricity generation (more than double the 22% share in 2020). India's commitment to renewable energy expansion provides a conducive market for onshore wind turbine to operate and grow.
Rising Costs
The onshore wind turbine market is facing significant challenges due to rising costs, particularly driven by increases in the prices of critical minerals and commodities. The average price increase across these seven critical metals during the mentioned period is a staggering 93%. Such significant price hikes directly translate into higher manufacturing costs for wind turbines.
Higher manufacturing costs are directly affecting wind developers' bids for deployment projects. As the cost of turbine production rises, developers may need to submit higher bids for renewable energy projects. It could potentially impact the competitiveness of wind energy in the broader energy market. Some European governments, such as Germany, have responded to these cost challenges by increasing ceiling prices for renewable energy auctions. The policy change is aimed at helping wind developers remain competitive despite the rising manufacturing costs.
Segment Analysis
The global onshore wind turbine market is segmented based on size, capacity, axis, technology and region.
Electrically Excited Synchronous Generator (EESG) Dominates Onshore Wind Turbine Market
Electrically Excited Synchronous Generator (EESG) holds a major segment in the onshore wind turbine market with its major application in wind turbine systems. While it offers advantages, such as increased electrical torque control, it also presents challenges, including a more complex control system compared to Permanent-Magnet Synchronous Generators (PMSG). EESG is particularly beneficial in addressing wind turbine mechanical resonance issues.
Ongoing research and development efforts have improved the efficiency and reliability of EESG systems. The continuous innovation has contributed to the growing adoption of EESG in onshore wind turbines. Research and analysis have focused on understanding the rotor speed resonant phenomenon and developing effective damping torque characteristics. It ensures stable and efficient operation, making EESG a significant player in the onshore wind turbine market.
Geographical Penetration
Asia-Pacific Leads Onshore Wind Turbine Market Growth
Asia-Pacific is expected to hold the largest share due to increasing policy support for wind power, especially in major markets like China and India. According to IEA, China's government has demonstrated a strong commitment to renewable energy. In June 2022, China published its 14th Five-Year Plan for Renewable Energy, outlining its goals. One of the key targets is to have 33% of electricity generation come from renewables by 2025. It represents a significant increase from approximately 29% in 2021. Within this target, there's a specific focus on wind and solar technologies, aiming to achieve an 18% share.
According to the GWEC report, China continued to lead in wind capacity additions, in terms of wind turbine suppliers, Vestas Wind Systems maintained its leading position globally, accounting for 17.7% of new installations, followed by Chinese company Goldwind with 11.8%, Siemens Gamesa with 9.7%, Envision with 8.65% and GE Renewable Energy with 8.55%. Vestas Wind Systems and Siemens Gamesa exhibited record years with significant geographic diversification, delivering to 37 and 32 countries, respectively. Wind turbine rating and rotor diameter trends also continued upward, with an average rated capacity surpassing 3,500 kW, primarily driven by the adoption of larger onshore turbines in China as its onshore wind market achieved grid parity.
Competitive Landscape
The major global players in the market include Vestas Wind Systems, Siemens Gamesa Renewable Energy, GE Renewable Energy, Goldwind, Nordex Group, Enercon GmbH, Suzlon Energy Ltd., Envision Energy, Senvion GmbH and Ming Yang Smart Energy Group.
COVID-19 Impact Analysis
COVID-19 pandemic has had several short-term impacts on the onshore wind turbine market. The pandemic led to an economic downturn, which, in turn, impacted the power prices in 2020 and 2021. The short-term power prices showed negative impacts, with forecasts indicating lower wholesale electricity prices. The downturn in power prices can affect the economics of investments in green technologies, including onshore wind turbines.
During the pandemic, there was a reduction in energy demand due to economic slowdowns and lockdowns. The reduction in energy demand temporarily affected the supply and demand dynamics in the energy sector. Long-term forecasts indicate a continued shift from fossil fuels to renewable energy generation, with wind energy, both onshore and offshore, playing a significant role. Investments in clean and sustainable technologies are expected to persist, even in the face of short-term economic challenges caused by the pandemic.
Russia-Ukraine War Impact
The Russia-Ukraine war made an impact on the onshore wind turbine market, since Russia invaded Ukraine in February of the previous year, England has seen minimal progress in the installation of onshore wind turbines. Only two turbines generating 1 megawatt of electricity were installed in England during this period. In contrast, Ukraine has made significant strides in onshore wind energy, with the Tyligulska wind power plant becoming operational despite its proximity to the conflict zone, boasting 19 turbines with an installed capacity of 114MW.
The UK government had promised to ease restrictions on onshore windfarms in England, but as of the provided content's date, no substantial changes had been made to the framework. The lack of progress has been attributed to potential resistance from backbench Tory MPs, which has hindered the expansion of onshore wind energy in England. The Russia-Ukraine conflict triggered a surge in global energy markets, leading to higher energy prices. It surge in energy prices contributed to ongoing high energy bills for British households. As a result, European countries sought alternative energy sources to reduce dependence on Russia's gas exports.
By Capacity
• Less than 1MW
• 1MW to 3MW
• More than 3MW
By Axis
• Horizontal Axis
• Vertical Axis
By Size
• Small Scale
• Medium Scale
• Large Scale
By Technology
• Electrically Excited Synchronous Generator
• Permanent Magnet Synchronous Generator
By Region
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Italy
o Russia
o Rest of Europe
• South America
o Brazil
o Argentina
o Rest of South America
• Asia-Pacific
o China
o India
o Japan
o Australia
o Rest of Asia-Pacific
• Middle East and Africa
Key Developments
• In August 2023, Adani Group's highly anticipated 5.2 MW wind turbine, located in Mundhra, Gujarat, is nearing its formal unveiling. It wind turbine is considered to be the largest in the country and one of the largest onshore wind turbines globally. The technology for this turbine is sourced from W2E Wind to Energy GmbH in Germany.
• In September 2022, Vestas Wind Systems, a Danish wind turbine manufacturer, announced the launch of an onshore wind turbine tower with a hub height measuring 199 meters, which is just under 653 feet. The tower is described as the world's tallest onshore tower for wind turbines at the time. Vestas Wind Systems collaborated with the German company Max Bögl for this project. The tower's impressive height is expected to enable the harvesting of stronger and more consistent wind, ultimately boosting the electricity production of the wind turbine.
• In May 2022, GE Renewable Energy introduced the Sierra platform, a next-generation 3 MW onshore wind turbine specifically designed for the North American region. It turbine features a 140-meter rotor and is offered with various hub heights, including an option with a hub height of less than 500 feet. The Sierra platform incorporates GE's innovative two-piece blade technology, aimed at improving logistics, installation and serviceability. GE has received orders for more than 1 GW of this turbine platform. The Sierra platform builds upon the success of GE's 2 MW platform, which boasts over 30 GW of installed capacity globally. It was launched with two prototypes, one in Lubbock, TX and one in Karnataka, India, both achieving more than a year of successful operation.
Why Purchase the Report?
• To visualize the global onshore wind turbine market segmentation based on size, capacity, axis, technology and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of onshore wind turbine market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global onshore wind turbine market report would provide approximately 69 tables, 65 figures and 204 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies