Asia Pacific Wind Turbine Market Introduction and Overview
According to SPER Market Research, the Asia Pacific Wind Turbine Market is estimated to reach USD 119.44 billion by 2033 with a CAGR of 5.79%.
The report includes an in-depth analysis of the Asia Pacific Wind Turbine Market, including market size and trends, product mix, applications, and supplier analysis. An apparatus that transforms wind energy from kinetic to electrical form is a wind turbine. It is made up of big blades that are fixed atop a tower and spin in response to wind. A generator that generates energy is propelled by this spin. Wind turbines come in a range of sizes, from tiny residential units to massive commercial ones, and they are frequently arranged in wind farms. They are essential to the generation of renewable energy, which lessens greenhouse gas emissions and dependency on fossil fuels. One of the energy sources with the greatest rate of growth in the world is wind energy, which helps combat climate change and pave the way for a sustainable energy future.
- January 2024; For the Abukuma South Wind Power wind farm in Iwaki City and Hirono Ward, Fukushima, Japan, Abukuma South Wind Power LLC selected GE Vernova's onshore wind business as the supplier. In addition to signing a long-term full-service contract with GE Vernova, Abukuma South Wind Power also entered into a turbine supply agreement with Kandenko, EPC, to deliver 28 units of GE Vernova 3.2-103 turbines1 that can produce about 90 megawatts (MW) of power.
- September 2022; A 43 MW order was secured by Vestas and Mercury for the Kaiwera Downs wind farm in New Zealand. Ten V136-4.2 MW wind turbines with a 4.3 MW operating system are part of the project; Vestas supplied and installed them. Vestas will sign a 30-year Active Output Management 5000 maintenance and service contract (AOM5000) when the project is finished, which will maximize energy production and give Mercury long-term financial security for the wind farm.
Market Opportunities and Challenges
Opportunities- The annual installed capacity of the emission-free energy system has increased due to the implementation of favorable government policies and attractive incentives. Through the implementation of beneficial programs and policies like the five-year energy transition plan and the mandatory purchase of renewable energy. To lessen their reliance on conventional energy sources, some Asian nations are concentrating on the development of renewable energy generation. One of the significant renewable energy sources that can address a lot of the global energy production issues is wind energy. As a result, significant wind energy development necessitates frequent and efficient maintenance and monitoring. Consequently, there will probably be a rise in demand for wind turbine operation and maintenance services as wind energy investment grows.
Challenges- A crucial component in the construction of wind turbines is steel. The length of the agreement between steel makers and raw material suppliers might range from one to multiple years, with the latter fully controlling raw material prices. Furthermore, changes in the price of steel can affect the final product's cost. An increase in the production costs of raw materials results in a price increase for the finished product. Moreover, the financial performance of the leading competitors in the wind turbine operations and maintenance industry could suffer as a result of this variability. This could limit the potential expansion of the Asia Pacific wind turbine operation and maintenance market over the course of the projected period.
Market Competitive Landscape
The Asia Pacific Wind Turbine Market is a highly competitive arena due to the presence of multiple global and regional companies in the competitive environment. Leading companies in the industry are ENERCON GmbH, ENVISION GROUP, General Electric, Goldwind, Mingyang Smart Energy Group Co., Ltd and others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Axis, By Installation, By Connectivity.
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| Regions covered | Australia, China, India, Japan, South Korea, Rest of Asia-Pacific.
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| Companies Covered | ENERCON GmbH, ENVISION GROUP, General Electric, Goldwind, Mingyang Smart Energy Group Co, Ltd.
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COVID-19 Impact on Asia Pacific Wind Turbine Market
The global COVID-19 pandemic has had a substantial impact on operations. In many nations, the renewable energy sector is heavily reliant on imports from other nations, mostly China. Furthermore, the wind sector depends on the importation of wind-related machinery from other nations. Major producers of wind turbine equipment, including GE, Xinjiang Goldwin, and others, experienced production stoppages as a result of the lockdown in several nations, which resulted in significant backlogs and orders that were delayed.
Key Target Audience:
- Utilities and Energy Companies
- Government Agencies and Regulators
- Manufacturers and Suppliers
- Investors and Financial Institutions
- Industrial and Commercial End-users
- Research Institutions and NGOs
- Technology Developers
Our in-depth analysis of the Asia Pacific Wind Turbine Market includes the following segments:
| By Axis: | HorizontalVerticalOthers |
| By Installation: | OnshoreOffshoreOthers |
| By Connectivity: | Grid-connectedStand AloneOthers |
Key Topics Covered in the Report:
- Asia Pacific Wind Turbine Market Size (FY’2024-FY’2033)
- Overview of Asia Pacific Wind Turbine Market
- Segmentation of Asia Pacific Wind Turbine Market By Axis (Horizontal, Vertical, Others)
- Segmentation of Asia Pacific Wind Turbine Market By Installation (Onshore, Offshore, Others)
- Segmentation of Asia Pacific Wind Turbine Market By Connectivity (Grid-connected, Stand Alone, Others)
- Statistical Snap of Asia Pacific Wind Turbine Market
- Expansion Analysis of Asia Pacific Wind Turbine Market
- Problems and Obstacles in Asia Pacific Wind Turbine Market
- Competitive Landscape in the Asia Pacific Wind Turbine Market
- Impact of COVID-19 and Demonetization on Asia Pacific Wind Turbine Market
- Details on Current Investment in Asia Pacific Wind Turbine Market
- Competitive Analysis of Asia Pacific Wind Turbine Market
- Prominent Players in the Asia Pacific Wind Turbine Market
- SWOT Analysis of Asia Pacific Wind Turbine Market
- Asia Pacific Wind Turbine Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER internal database
2.1.4. Premium insight from KOLs
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Asia Pacific Wind Turbine Market.
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTERs Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Asia Pacific Wind Turbine Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Asia Pacific Wind Turbine Market
7. Asia Pacific Wind Turbine Market, By Axis (USD Million) 2020-2033
7.1. Asia Pacific Wind Turbine Market Size, Share and Forecast, By Axis, 2020-2026
7.2. Asia Pacific Wind Turbine Market Size, Share and Forecast, By Axis, 2027-2033
7.3. Horizontal
7.4. Vertical
7.5. Others
8. Asia Pacific Wind Turbine Market, By Installation (USD Million) 2020-2033
8.1. Asia Pacific Wind Turbine Market Size, Share and Forecast, By Installation, 2020-2026
8.2. Asia Pacific Wind Turbine Market Size, Share and Forecast, By Installation, 2027-2033
8.3. Onshore
8.4. Offshore
8.5. Others
9. Asia Pacific Wind Turbine Market, By Connectivity (USD Million) 2020-2033
9.1. Asia Pacific Wind Turbine Market Size, Share and Forecast, By Connectivity, 2020-2026
9.2. Asia Pacific Wind Turbine Market Size, Share and Forecast, By Connectivity, 2027-2033
9.3. Grid-connected
9.4. Stand Alone
9.5. Others
10. Asia Pacific Wind Turbine Market Forecast, 2020-2033 (USD Million)
10.1. Asia Pacific Wind Turbine Market Size and Market Share
11. Asia Pacific Wind Turbine Market, By Region, 2020-2033 (USD Million)
11.1. Asia Pacific Wind Turbine Market Size and Market Share By Region (2020-2026)
11.2. Asia Pacific Wind Turbine Market Size and Market Share By Region (2027-2033)
11.3. Australia
11.4. China
11.5. India,
11.6. Japan
11.7. South Korea,
11.8. Rest of Asia-Pacific
12. Company Profile
12.1. ENERCON GmbH
12.1.1. Company details
12.1.2. Financial outlook
12.1.3. Product summary
12.1.4. Recent developments
12.2. ENVISION GROUP
12.2.1. Company details
12.2.2. Financial outlook
12.2.3. Product summary
12.2.4. Recent developments
12.3. General Electric
12.3.1. Company details
12.3.2. Financial outlook
12.3.3. Product summary
12.3.4. Recent developments
12.4. Goldwind
12.4.1. Company details
12.4.2. Financial outlook
12.4.3. Product summary
12.4.4. Recent developments
12.5. Mingyang Smart Energy Group Co., Ltd
12.5.1. Company details
12.5.2. Financial outlook
12.5.3. Product summary
12.5.4. Recent developments
12.6. ReGen Powertech
12.6.1. Company details
12.6.2. Financial outlook
12.6.3. Product summary
12.6.4. Recent developments
12.7. Shanghai Electric
12.7.1. Company details
12.7.2. Financial outlook
12.7.3. Product summary
12.7.4. Recent developments
12.8. Siemens Gamesa Renewable Energy, S.A
12.8.1. Company details
12.8.2. Financial outlook
12.8.3. Product summary
12.8.4. Recent developments
12.9. Suzlon Energy Limited
12.9.1. Company details
12.9.2. Financial outlook
12.9.3. Product summary
12.9.4. Recent developments
12.10. Others
13. Conclusion
14. List of Abbreviations
15. Reference Links
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
