Wind Power Market Share, Size & Trend Report

Wind Power Market Share, Size & Trend Analysis Report By Application (Industrial, Residential, Commercial) And Segment Forecasts To 2020

  • Published Date: Apr, 2016
  • Base Year for Estimate: 2015
  • Report ID: 978-1-68038-064-4
  • Format: Electronic (PDF)
  • Historical Data: 2013-2015
  • Number of Pages: 84

Industry Insights

Increasing need to replace conventional sources of energy with renewable energy is expected to drive the market for wind power generation over the next decade. The global market for wind power has experienced robust growth in the last two decades.

Governments across various nations have been supporting the use of renewable energy sources including solar power, hydropower, wind power, and biomass. Regulatory bodies also, to reduce carbon footprints and reduce reliance on conventional energy sources have been promoting power generation using wind turbines.

Growth of wind energy is expected further in the forecast period due to introduction of solar wind hybrid system and offshore wind power systems. Both of these type of innovative installations can aid to enhance utilization of wind energy further. This would result to enhance adoption of these wind power installations in the forecast period.

The global market for wind power generation has been experiencing excellent growth rates since the last decade and will continue to do so over the forecast period. Europe emerged as the leading market for wind power owing to favorable regulatory policies mainly in EU-27 countries.

Europe’s framework legislation and its target to reduce carbon footprints by 2020 are expected to ensure continuous growth of wind power market in the region. Also, an extension of production tax credit as a part of fiscal cliff package by the U.S. Congress is expected to be a key factor driving the regional market for wind power. U.S. saw a record number of capacity additions in 2012, as wind power emerged as the largest source of new electricity generation by accounting more than 40% of new capacity added.

However, huge growth opportunities lie in Asia Pacific on account of favorable regulations in countries such as China and India. Asia Pacific is expected to overtake Europe to become the leading wind power market regarding cumulative installed capacity by the end of 2020. Wind power accounted for a 2% of the total electricity produced in China up from 1.5% in 2011. In addition, the Middle East and Africa have been taking rapid strides in the global wind power market and is expected to match Central and South America in terms of cumulative installed capacity by 2020.

Application Insights

Key wind power market applications include industrial, residential and commercial. Industrial applications dominate the industry, accounting for 43.6% of total market volume in 2013. These applications are also expected to witness maximum gains, at a CAGR of 13.3% from 2014 to 2020. Strong regulatory support for industries to use sustainable energy is expected to drive wind power demand. Growth in residential applications is expected to be sluggish due to the high cost of windmills.

However, introduction of residential specific small wind turbine and technological advancement in wind turbine production is expected in the forecast period. These developments can lead to increase the adoption of wind power in the residential sector in the forecast period.

Regional Insights

Europe was the largest consumer of wind power till 2012 due to large regulatory support from the European Union and national government. Asia Pacific overtook Europe in terms of volume of wind power consumed in 2013. Asia Pacific region accounted for 37.4% of total market volume in 2013. Asia Pacific market was closely followed by Europe.

Market in Asia Pacific would further grow in the forecast period due to supporting regulations and schemes expected in the forecast period. For instance, feed in tariff and implementation of wind power auctions will support implementation of wind power in the region.

The Middle East and Africa is expected to be the fastest growing regional market for wind power at an estimated CAGR of 44.8% from 2014 to 2020.Increasing concerns about conventional energy sources has helped this market to grow. China has been a key consumer of wind power which was followed by the United States and Germany. The European market is expected to grow at a sluggish rate due to maturity of the market.

Wind Power Market Share Insights

Global wind power market is fragmented within many companies including GE Winds, Vestas, Siemens Wind Power, Enercon, Suzlon Group, Gamesa, Goldwind, United Power, Sinovel, Mingyang and many other.

Companies are more focused towards developing advanced technology based products owing to the growing demands for higher efficiency and reliability of wind turbine. Top tier companies would merge with regional and small companies to enhance its production capacity and market share in the forecast period. 

Report Scope



Base year for estimation


Actual estimates/Historical data

2012 - 2015

Forecast period

2016 - 2020

Market representation                                    

Revenue in USD million, volume in GW and CAGR from 2016 to 2020

Regional scope

North America, Europe, Asia Pacific, MEA and Central & South America

Report coverage        

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analysts working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments covered in the report

This report forecasts revenue and installed capacity growth at global & regional levels and provides an analysis on the industry trends in each of the sub-segments from 2012 to 2020. For this study, Grand View Research has segmented the global wind power market on the basis of application and region.

  • Application Outlook (Volume, GW; 2012 - 2020)

    • Industrial

    • Residential

    • Commercial

  • Regional Outlook (Volume, GW; 2012 - 2020)

    • North America

    • Europe

    • Asia Pacific

    • Central & South America

    • Middle East & Africa

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