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Onshore Wind Energy Market Size
- Report ID: GMI10721
- Published Date: Aug 2024
- Report Format: PDF
Onshore Wind Energy Market Size
Onshore Wind Energy Market was valued USD 77.9 billion in 2023 and is anticipated to grow at a CAGR of over 11.3% from 2024 to 2032. Onshore wind energy refers to the generation of electricity using wind turbines located on land. It is one of the most established and widely used forms of renewable energy, harnessing the kinetic energy of wind to produce electricity.
Introduction of state-level renewable energy mandates and federal incentives along with strong government policies and increasing energy demand and renewable energy targets across developing economies will accelerate the business growth. Emerging markets in Brazil, Mexico, and Argentina, with favorable wind resources and supportive policies will enhance the product deployment. Furthermore, investments in grid infrastructure to accommodate new wind capacity is set to strengthen the industry landscape.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Onshore Wind Energy Market Size in 2023: | USD 77.9 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 11.3% |
| 2032 Value Projection: | USD 180.4 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 35 |
| Segments covered: | Turbine Rating, Component, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Growing interest from investors and financial institutions in renewable energy projects and availability of green bonds and sustainable investment funds to finance the wind energy projects is set to influence the business landscape. Further, integration of IoT, AI, and machine learning for real-time monitoring and predictive maintenance will strengthen the market landscape.
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Onshore Wind Energy Market Scope
