Onshore Wind Energy Market Insights
The Onshore Wind Energy Market Size reflects the scale and magnitude of onshore wind installations worldwide, encompassing various regions and countries contributing to global renewable energy capacities. With continuous advancements in technology and increasing investments, the market size is projected to expand significantly in the coming years, driven by rising energy demands, environmental concerns, and favorable regulatory frameworks promoting clean energy adoption.
According to MRFR analysis, Onshore Wind Energy market is expected to register a CAGR of ~ 4.8% from 2024 to 2030 and hold a value of over USD 75.64 billion by 2030. Onshore wind energy refers to the generation of electricity from wind turbines located on land, as opposed to offshore wind farms situated in bodies of water. It is one of the most mature and widely deployed renewable energy sources worldwide. Onshore wind farms consist of multiple wind turbines strategically placed in locations with favorable wind conditions.
Regional Analysis
Europe has been a leading market for onshore wind energy. Countries like Germany, Spain, and the United Kingdom have made significant investments in wind power infrastructure. The European Union has set ambitious renewable energy targets, driving the growth of onshore wind projects. Favorable government policies, feed-in tariffs, and subsidies have also played a crucial role in the development of the market in this region.
The onshore wind energy market in North America has witnessed substantial growth, particularly in the United States and Canada. Several U.S. states, including Texas, Iowa, and California, have abundant wind resources and supportive policies, leading to the installation of large-scale wind farms. In Canada, provinces like Ontario, Quebec, and Alberta have implemented renewable energy targets, creating opportunities for onshore wind projects.
The Asia-Pacific region has emerged as a significant player in the onshore wind energy market. China has become the world's largest market for onshore wind power, with extensive installations across its vast landmass. India has also made significant strides in the sector, driven by the government's renewable energy targets and favorable policies. Other countries in the region, such as Australia, Japan, and South Korea, have also witnessed growth in onshore wind installations.
Market Segmentation
Onshore Wind Energy market has been segmented into End-use, Application, Power Capacity, Wind Capacity, Grid Connectivity
End-use: Utilities , Commercial Industrial , Hybrid Power
Application : Peak Power Management , Power Storage , Demand Response , Frequency Response , System Stability
Power Capacity : Less Than 500 KW , 500 KW To 2 MW , More Than 2 MW
Wind Capacity : High Wind Speed , Medium Wind Speed , Low Wind Speed
Grid Connectivity : Off-Grid , On-Grid
Key Players
Siemens AG (Germany), Envision energy (China), General Electric Wind Energy (U.S.), Suzlon (India), Vestas Wind System A/S (Denmark), Enercon GmbH (Germany), Mitsubishi Power Systems (Japan), Nordex S.E. (Germany), Repower (Switzerland), Gazelle Wind Turbines (U.K.), and Clipper Wind Power (UK)
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