Market Size of Denmark Wind Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 5.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Denmark Wind Energy Market Analysis
The Denmark wind energy market is expected to grow at a CAGR of around 5% during the forecast period. The primary driver for the market includes the government efforts to have a low-cost, sustainable, and a cleaner form of energy and thereby to have control over the growing carbon emissions. However, inadequate land masses available to install renewable facilities, including wind farms, is likely to hinder the market growth during the forecast period.
- With significant installed capacity, in 2019, onshore wind energy is likely to dominate the market during the forecast period.
- With the objective of transforming Denmark to a low carbon society by 2050, the country is expected to generate 55% of its total energy required from renewable energy by 2030. The increase in renewable energy share in the country's energy mix is likely to create an opportunity for the wind energy market to expand in the near future.
- Increasing electricity consumption, along with increasing government initiatives for renewable energy growth, is likely to drive the wind energy market during the forecast period.
Denmark Wind Energy Industry Segmentation
The Denmark wind energy market report include:
| Type | |
| Onshore | |
| Offshore |
Denmark Wind Energy Market Size Summary
The Denmark wind energy market is poised for growth, driven by government initiatives aimed at promoting sustainable and cost-effective energy solutions to curb carbon emissions. Despite challenges such as limited land availability for renewable installations, the market is expected to expand, with onshore wind energy leading the charge due to its significant installed capacity and lower investment requirements compared to offshore wind. The country's commitment to transforming into a low carbon society by 2050, with a substantial portion of its energy mix coming from renewables by 2030, presents a favorable environment for wind energy development. This shift is further supported by increasing electricity consumption and proactive government policies encouraging renewable energy growth.
The onshore wind segment is particularly prominent, with several projects underway to enhance capacity. Notable developments include the Thorup-Sletten wind farm and a significant onshore project awarded in 2018, both contributing to the market's expansion. As Denmark aims to phase out coal-fired power plants by 2030, the reliance on renewable energy sources is expected to rise, aligning with the country's broader environmental goals. The market landscape is moderately fragmented, with key players such as Orsted AS, Vattenfall AB, and Vestas Wind Systems A/S playing pivotal roles in driving the sector forward.
Denmark Wind Energy Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Denmark Wind Energy Installed Capacity and Forecast in MW, till 2025
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1.3 Denmark Renewable Energy Mix, 2019
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1.4 Recent Trends and Developments
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1.5 Government Policies and Regulations
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1.6 Market Dynamics
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1.6.1 Drivers
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1.6.2 Restraints
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1.7 Supply Chain Analysis
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1.8 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Onshore
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2.1.2 Offshore
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Denmark Wind Energy Market Size FAQs
What is the current Denmark Wind Energy Market size?
The Denmark Wind Energy Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Denmark Wind Energy Market?
Orsted AS, Vattenfall AB, Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy SA and Suzlon Energy Ltd are the major companies operating in the Denmark Wind Energy Market.
