Onshore Wind Energy Market Size Expected to Expand at a 26.7% CAGR from 2024 to 2030

The Onshore Wind Energy Market Size is expected to reach USD 245.17 billion by 2030, at a CAGR of 26.7% during the forecast period. This average expansion is pushed by rising energy wishes and a global motion away from common power sources.



Reasons for the Market Growth and Potential Opportunities

There are a few drivers driving this growing onshore wind energy market. First among these is the global energy that is rapidly growing and shifts to sustainable and renewable energy solutions. We see the government worldwide has supportive policies and incentives to offer, hence helping broaden the market space for renewable energy. Onshore wind projects are economically more competitive as operational cost is cheaper due to improved wind turbine design and efficiency. Furthermore, the rising awareness about environmental protection and the need to reduce carbon emissions are forcing industries and utilities to shift toward less polluting sources of energy, providing lucrative opportunities for players in the market.

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Segmentation Analysis

The onshore wind energy market includes power capacity, wind capacity, end-use, application, and grid connectivity.

Power Capacity: This can be divided into: (2 MW.) As a result of ongoing technological improvements, turbines with capacities above 2 MW are assumed to drive modern technology due to the higher energy output.

Wind Capacity: depending upon wind speed projects have been divided into high, medium, and low wind power category. The market is led by high wind speed projects in which these turbines can generate an individual capacity output of about 2.3 MW per day.

Use case: Onshore wind energy use cases include aspects such as stability of the system, peak shaving, frequency response and demand response.

Grid Connectivity: The market is also analyzed based on grid connectivity, considering factors such as integration with existing power grids and the development of new transmission infrastructure.

Country-Level Analysis

Onshore Wind Energy Market is exhibiting mixed trends & growth across its geography:

U.S.: The Department of Energy's annual wind market reports show that wind represents one of the largest and most economical sources of power growth in the America. The Inflation Reduction Act (IRA) has been a game changer for near-term wind deployment forecasts and has spurred billions in domestic wind supply chain investments.

Germany: Due to being a global leader in renewable energy, Germany has been placing tremendous emphasis on its onshore wind component to achieving its strong climate targets. It has been difficult in part because the country has been pursuing policies to simplify permitting, but also to bring acceptance of wind projects into the communities themselves.

China: As the top country for wind energy installations for many years, China maintains a leading position in onshore and offshore wind energy investments Staunch government policies on carbon emissions and sustainable development have made wind energy a leading industry in no time.

India has been looking to ramp up its onshore wind energy capacity. Due to supportive policies and ambitious renewable energy targets attracting investments towards wind projects, helping achieve energy security and sustainability goals of the country

Brazil: Thanks to excellent wind conditions and a favourable regulatory framework the country has led onshore wind power in South America. With rising investments in wind projects, the country has been enhancing its renewable energy portfolio and cementing the periphery of economic development.

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Competitor Analysis

Some of the key players in the onshore wind energy market are:

General Electric: Known as one of the biggest manufacturers of wind turbine generators in the world, General Electric has relied on technology modifications to improve turbine efficiency and reliability.

Siemens Gamesa has been increasing the range of its offerings and expanding its geographic footprint addressing different types of customers.

Vestas has long been an innovative leader in wind turbine technology with a portfolio of solutions that aim to maximize energy production capabilities.

Enercon has been actively engaged in research and development of new turbine designs that can enhance performance and reduce operational costs.

Nordex has grown its footprint in multiple markets with tailored products for different wind scenarios.

In recent industry news, Brookfield completed the acquisition of National Grid's U.S. onshore renewables business for $1.7 billion, demonstrating an active hunkering down of countless global investors over renewable energy assets.

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Conclusion

The onshore wind energy market has a bright future as a result of the rising energy demands, supportive governmental policies, and technical technological advancements. With countries across the globe pledging to hit their renewable energy targets and move away from carbon emissions, the onshore wind space is ripe for investment and development. The growth of this market also lays forward an impetus for market players to innovate and into larger markets to cater to the increasing demand created to clean and cheap energy source.

Explore More: Visit our website for Additional reports:

Wind Turbine Forging Market https://www.maximizemarketresearch.com/market-report/wind-turbine-forging-market/219987/ 

Wind Power Market https://www.maximizemarketresearch.com/market-report/wind-power-market/75691/ 

Airborne Wind Turbine Market https://www.maximizemarketresearch.com/market-report/airborne-wind-turbine-market/73859/ 

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