Market Size of Europe Large Wind Turbine Industry
| Study Period | 2020-2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 4.27 Billion |
| Market Size (2029) | USD 7.12 Billion |
| CAGR (2024 - 2029) | 10.77 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Large Wind Turbine Market Analysis
The Europe Large Wind Turbine Market size is estimated at USD 4.27 billion in 2024, and is expected to reach USD 7.12 billion by 2029, growing at a CAGR of 10.77% during the forecast period (2024-2029).
- Over the medium term, factors such as increasing investments in wind power projects and favorable government policies are anticipated to drive the Europe large wind turbine market during the forecast period.
- On the other hand, the growing adoption of alternate sources of clean power generation, mainly natural gas power and solar power is expected to hamper the demand for the Europe large wind turbine market during the forecast period.
- Nevertheless, the offoshore wind energy projects development are expected to create considerable opportunities for the Europe large wind turbine market during the forecast period.
- Germany is expected to dominate the large turbine wind market in recent years. It is expected to witness significant market growth in the forecast period due to the increasing wind energy projects coupled with the government's policies.
Europe Large Wind Turbine Industry Segmentation
A wind turbine is a device that converts the kinetic energy of wind into electrical energy; a large number of large turbines are in installations known as wind farms. There is the increased use of wind turbines as a source of intermittent renewable energy, and they have been used in several countries to reduce energy costs and reduce reliance on fossil fuels to reduce pollution.
The Europe large wind turbine market is segmented by location of deployment and geography. By location of deployment, the market is segmented into onshore and offshore. The report also covers the market size and forecasts for the large wind turbine market across major countries. The market sizing and forecasts have been done for each segment based on revenue (USD).
| Location of Deployment | |
| Onshore | |
| Offshore |
| Geography | |
| Germany | |
| France | |
| Spain | |
| NORDIC | |
| Turkey | |
| Russia | |
| Rest of Europe |
Europe Large Wind Turbine Market Size Summary
The Europe large wind turbine market is poised for significant growth over the forecast period, driven by increasing investments in wind power projects and supportive government policies. Despite the competition from alternative clean energy sources like natural gas and solar power, the development of offshore wind energy projects presents substantial opportunities for market expansion. Germany is expected to lead the market, bolstered by its robust wind energy initiatives and favorable governmental measures. The evolution of onshore wind energy technology has further enhanced the efficiency and reach of wind power generation, with countries like Sweden, Germany, and Turkey spearheading new installations. The commitment to increasing renewable energy's share in the power mix, particularly in Sweden, underscores the region's dedication to expanding wind energy capacity.
The market landscape in Europe is characterized by a semi-fragmented structure, with key players such as Vestas Wind Systems, Nordex SE, Siemens Gamesa Renewable Energy, Enercon GmbH, and General Electric Company playing pivotal roles. Innovations in wind turbine technology, including advancements in blade defect management and the introduction of larger turbines, are expected to support market growth. Germany's strategic focus on offshore wind development, alongside its significant onshore wind capacity, positions it as a dominant force in the market. The country's ambitious targets for renewable energy expansion, supported by legislative measures like the WindLandG, further reinforce its leadership in the European large wind turbine market.
Europe Large Wind Turbine 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 Market Size and Demand Forecast in USD, till 2029
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.1.1 The Increasing Investments in Wind Power Projects
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1.5.1.2 Favorable Government Policies
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1.5.2 Restraints
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1.5.2.1 The Growing Adoption of Alternate Sources of Clean Power Generation
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1.6 Supply Chain Analysis
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1.7 Porter's Five Forces Analysis
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1.7.1 Bargaining Power of Suppliers
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1.7.2 Bargaining Power of Consumers
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1.7.3 Threat of New Entrants
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1.7.4 Threat of Substitutes Products and Services
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1.7.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Location of Deployment
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2.1.1 Onshore
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2.1.2 Offshore
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2.2 Geography
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2.2.1 Germany
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2.2.2 France
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2.2.3 Spain
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2.2.4 NORDIC
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2.2.5 Turkey
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2.2.6 Russia
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2.2.7 Rest of Europe
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Europe Large Wind Turbine Market Size FAQs
How big is the Europe Large Wind Turbine Market?
The Europe Large Wind Turbine Market size is expected to reach USD 4.27 billion in 2024 and grow at a CAGR of 10.77% to reach USD 7.12 billion by 2029.
What is the current Europe Large Wind Turbine Market size?
In 2024, the Europe Large Wind Turbine Market size is expected to reach USD 4.27 billion.
