Who are the key players in Canada Wind Energy Market?

General Electric Company , Siemens Gamesa Renewable Energy SA, Acciona SA, Capital Power Corporation and Vestas Wind Systems A/S are the major companies operating in the Canada Wind Energy Market. Read More

What years does this Canada Wind Energy Market cover, and what was the market size in 2023?

In 2023, the Canada Wind Energy Market size was estimated at 16.70 gigawatt. The report covers the Canada Wind Energy Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Canada Wind Energy Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

What are the major challenges facing the Wind Power Market in Canada?

The major challenges facing the Wind Power Market in Canada include a) Grid integration and transmission infrastructure b) Environmental and wildlife concerns c) Financing and investment barriers Read More

What are the key deal types in the Canada Wind Power Market?

The key deal types in the Canada Wind Power Market include a) Asset Transactions and Equity offerings b) Debt Offerings and Partnerships c) Private Equity, and Acquisition Read More

Canada Wind Energy Market Size

Market Size of Canada Wind Energy Industry

Study Period	2020 - 2029
Base Year For Estimation	2023
Forecast Data Period	2024 - 2029
Historical Data Period	2020 - 2022
CAGR (2024 - 2029)	8.83 %
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

Canada Wind Energy Market Analysis

The Canada Wind Energy Market size is estimated at 18.17 gigawatt in 2024, and is expected to reach 27.75 gigawatt by 2029, growing at a CAGR of 8.83% during the forecast period (2024-2029).

In 2020, COVID-19 had a detrimental effect on the market. Presently, the market has reached pre-pandemic levels.

Over the long term, factors such as upcoming new wind projects, the declining costs of wind technologies becoming competitive with fossil fuel sources, and additional subsidies on wind energy systems are further driving the wind energy market.
On the other hand, in the absence of any new initiatives, an underdeveloped power grid in Canada is expected to hinder the growth of the wind energy market in the coming years.
Nevertheless, under the 2015 Paris Agreement on Climate Change, Canada is committed to reducing greenhouse gases (GHG) by at least 80% below 2005 levels by 2050. Since, among Canadian renewable energy sources, wind energy contributes low-cost power and flexibility to a modernized electricity grid, this, in turn, is expected to provide a better opportunity for the Canadian wind energy market in the coming future.

Canada Wind Energy Industry Segmentation

Wind energy is a form of renewable energy that is generated by harnessing the power of the wind. Wind turbines, which are large structures with long blades that rotate around a central hub, convert the wind's kinetic energy into electrical energy.

The Canadian wind energy market report is segmented by location of deployment into onshore and offshore. For each segment, the market size and forecasts have been done based on installed capacity (GW).

Location of Deployment
		Onshore
		Offshore

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Canada Wind Energy Market Size Summary

The wind energy sector in Canada is experiencing significant growth, driven by the country's vast wind resources and supportive government policies. As one of the fastest-growing methods of electricity generation, wind energy is becoming increasingly competitive with traditional fossil fuels, aided by declining technology costs and additional subsidies. The Canadian government is committed to reducing greenhouse gas emissions, aligning with international climate agreements, which further bolsters the wind energy market's potential. Despite challenges such as an underdeveloped power grid, the market is poised for expansion with numerous onshore projects underway and more in the planning stages. The focus on clean energy sources is supported by policies encouraging private and foreign investments, which are expected to drive the market's growth over the forecast period.

Wind energy accounts for a significant portion of Canada's electricity generation, with provinces like Ontario, Quebec, and Alberta leading in capacity. The country has seen substantial investments in wind energy projects, with Alberta emerging as a key market due to its favorable investment climate. The development of new projects, such as the Lanfine Wind Project and the Rattlesnake Ridge Wind Farm, highlights the ongoing expansion in the sector. Major players in the market, including Siemens Gamesa Renewable Energy, General Electric, and Vestas Wind Systems, are actively involved in advancing wind energy projects. As Canada continues to explore opportunities for maximizing wind energy development, the market is expected to grow, driven by both economic and environmental benefits.

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Canada Wind Energy Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 Canada Wind Energy Installed Capacity and Forecast in GW, till 2028
3. 1.3 Recent Trends and Developments
4. 1.4 Government Policies and Regulations
5. 1.5 Market Dynamics
  1. 1.5.1 Drivers
    1. 1.5.1.1 Increasing Upcoming Projects and Investments in Wind Energy
  2. 1.5.2 Restraints
    1. 1.5.2.1 Increasing Adoption of Alternate Clean Energy Sources
6. 1.6 Supply Chain Analysis
7. 1.7 PESTLE Analysis
2. MARKET SEGMENTATION
1. 2.1 Location of Deployment
  1. 2.1.1 Onshore
  2. 2.1.2 Offshore