Europe Wind Power Market Insights
According to MRFR analysis, the Europe 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 Europe 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 Europe Wind Power facilities, as well as the buying and selling of Europe 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.
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 Europe Wind Power (US),
Regional Analysis
North America, particularly the United States, has a well-established Europe Wind Power market and is one of the largest producers of wind energy globally. The region has a favorable policy environment, an advanced infrastructure, and a strong presence of leading players in the Europe Wind Power industry, which has contributed to its growth.
The region is expected to continue to be a key player in the Europe Wind Power market in the coming years, with the increasing demand for clean and renewable energy sources driving the growth of the Europe Wind Power industry in North America.
Market Segmentation
The Europe Wind Power Market has been segmented into component and end-user.
Based on the component, the market has been segmented into rotor blades, gearboxes, generators, and towers.
Based on the end-user, the market has been segmented into residential, commercial and industrial.
Market Trends:
- Government support for renewable energy: Governments around the world are setting ambitious targets for renewable energy deployment, and Europe Wind Power is a major part of these plans. For example, the European Union has set a target of 40% renewable energy by 2030, and the United States has set a target of 100% clean energy by 2035.
- Declining costs of Europe Wind Power: The cost of Europe Wind Power has declined significantly in recent years, making it more competitive with traditional fossil fuel-based power generation. In some cases, Europe Wind Power is now the cheapest source of new electricity generation.
- Technological advancements: Wind turbine technology is constantly improving, making turbines more efficient and reliable. This is helping to reduce the cost of Europe Wind Power and make it more attractive to investors.
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