Europe Wind Power Equipment Market Size (2024 - 2029)

The Europe Wind Power Equipment Market is projected to experience substantial growth, driven by increased investments in wind farms and decreasing costs of wind energy. Despite the challenge posed by the expansion of solar energy projects in the region, the market is poised for expansion, with floating offshore wind technology presenting promising opportunities for future development. Germany is anticipated to lead the market due to the proliferation of wind energy initiatives.

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Market Size of Europe Wind Power Equipment Industry

Europe Wind Power Equipment Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 15.24 Billion
Market Size (2029) USD 26.71 Billion
CAGR (2024 - 2029) 11.89 %
Market Concentration Medium

Major Players

Europe Wind Power Equipment Market Major Players

*Disclaimer: Major Players sorted in no particular order

Europe Wind Power Equipment Market Analysis

The Europe Wind Power Equipment Market size is estimated at USD 15.24 billion in 2024, and is expected to reach USD 26.71 billion by 2029, growing at a CAGR of 11.89% during the forecast period (2024-2029).

  • Over the long term, Rising wind farm investments and falling wind energy costs are expected to drive the Europe wind power equipment market during the forecast period.
  • On the other hand, the increase in Solar energy projects across the region hinders the growth of the market during the forecast period.
  • Nevertheless, the development and commercialization of floating offshore wind technology are expected to be significant opportunities for the market beyond the forecast period.
  • Germany is expected to dominate the market due to the rise of wind energy projects during the forecast period.

Europe Wind Power Equipment Industry Segmentation

Wind power equipment consists of a wind turbine, a tower, a concrete foundation for the tower, and cable connections from the turbine to the equipment room.

The European wind power equipment market is split up by where the equipment is used, what kind of equipment it is, and where it is used. By location, the market is segmented into offshore and onshore. By equipment type, the market is segmented into rotor/blade, tower, generator, gearbox, and other equipment types. The report also covers the market size and forecasts for the wind power equipment market across major countries in the region. For each segment, market sizing and forecasts have been done based on revenue (USD).

Location
Onshore
Offshore
Equipment Type
Rotor/Blade
Tower
Gearbox
Generator
Other Equipment Types
Geography
Germany
United Kingdom
France
Spain
Italy
NORDIC
Turkey
Russia
Rest of Europe
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Europe Wind Power Equipment Market Size Summary

The European wind power equipment market is poised for significant growth, driven by increasing investments in wind farms and the declining costs of wind energy. The market is expected to expand substantially over the forecast period, with Germany leading the charge due to its robust wind energy projects and favorable government policies. The region's focus on renewable energy, coupled with technological advancements in wind turbine design and size, is enhancing the efficiency and cost-effectiveness of wind energy production. Onshore wind farms dominate the landscape, particularly in areas with high-speed winds like Northern Germany, while the development of floating offshore wind technology presents future opportunities for market expansion.

Despite the promising growth trajectory, the market faces challenges from the rising prominence of solar energy projects in the region. However, strategic initiatives such as partnerships among key industry players and supportive financial measures from institutions like the European Investment Bank are expected to bolster the market. The semi-consolidated nature of the market, with major players like Acciona Energia SA, General Electric Company, and Siemens Gamesa Renewable Energy S.A., underscores the competitive landscape. These companies are actively engaging in collaborations and innovations to strengthen their market positions and contribute to the region's renewable energy goals.

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Europe Wind Power Equipment Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2029

    3. 1.3 Wind Energy Installed Capacity and Forecast in GW, till 2029

    4. 1.4 Europe Renewable Energy Mix, 2023

    5. 1.5 Recent Trends and Developments

    6. 1.6 Government Policies and Regulations

    7. 1.7 Market Dynamics

      1. 1.7.1 Drivers

        1. 1.7.1.1 Rising Wind Farm Investments

        2. 1.7.1.2 Falling Wind Energy Costs

      2. 1.7.2 Restraints

        1. 1.7.2.1 Increase the number of Solar Energy Projects

    8. 1.8 Supply Chain Analysis

    9. 1.9 Porter's Five Forces Analysis

      1. 1.9.1 Bargaining Power of Suppliers

      2. 1.9.2 Bargaining Power of Consumers

      3. 1.9.3 Threat of New Entrants

      4. 1.9.4 Threat of Substitutes Products and Services

      5. 1.9.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Location

      1. 2.1.1 Onshore

      2. 2.1.2 Offshore

    2. 2.2 Equipment Type

      1. 2.2.1 Rotor/Blade

      2. 2.2.2 Tower

      3. 2.2.3 Gearbox

      4. 2.2.4 Generator

      5. 2.2.5 Other Equipment Types

    3. 2.3 Geography

      1. 2.3.1 Germany

      2. 2.3.2 United Kingdom

      3. 2.3.3 France

      4. 2.3.4 Spain

      5. 2.3.5 Italy

      6. 2.3.6 NORDIC

      7. 2.3.7 Turkey

      8. 2.3.8 Russia

      9. 2.3.9 Rest of Europe

Europe Wind Power Equipment Market Size FAQs

The Europe Wind Power Equipment Market size is expected to reach USD 15.24 billion in 2024 and grow at a CAGR of 11.89% to reach USD 26.71 billion by 2029.

In 2024, the Europe Wind Power Equipment Market size is expected to reach USD 15.24 billion.

Europe Wind Power Equipment Market Report Snapshots

Europe Wind Power Equipment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)