Orion Market Research
Global Wind Energy Market Share, Size, Future Outlook,
COVID-19 Impact Analysis, Forecast 2020-2026
Company Name: Orion Market Research
Contact Person: Mr. Anurag Tiwari
Contact no: +91 780-304-0404
The global wind energy market is expected to grow at a considerable CAGR of 8.9% during the
forecast period (2021-2027). Government projects for the installation of windmills are the major
factor for the growth of the market during the forecast period. Moreover, technological
advancement in the field of wind energy is also augmenting the market growth. Technology
innovation such as Turbine technology, resulting in decreased LCOE has increased the adoption
of wind energy as an alternative source of power.
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Moreover, floating foundations are potentially “game-changing” technology to efficiently
abundant wind potential in deeper waters and thus could lead the way for rapid future growth
in the offshore wind power market. As an estimate based on the step of developments across
various regions, by 2030 around 5?GW to 30?GW of floating offshore capacity could be installed
globally. By this, floating wind farms have the potential to cover around 5.0% to 15.0% of the
global offshore wind installed capacity (almost 1,000?GW) by 2050.
Besides, the impact of COVID-19 has been seen less on the wind energy project in 2020.
According to the Global Wind Energy Council (GWEC), offshore wind has been less affected by
the global pandemic than other sectors of the energy market.
Global Wind Energy Market Report Segment
By Equipment Market