Market Size of United Kingdom Wind Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
UK Wind Power Market Analysis
The UK wind energy market is expected to register a CAGR of more than 6% during the forecast period 2022-2027. The COVID-19 pandemic resulted in a decline in overall energy consumption, disrupted supply chains globally, and slowed down economic development worldwide. The availability of equipment necessary for wind turbine construction fell short as the shipping industry (for transportation of equipment) was disrupted during the pandemic. In terms of the market's growth, factors such as an increased focus on the development of energy generation sources with fewer emission potential, coupled with favorable government policies, are likely to drive the market demand. However, the increasing adoption of alternative renewable energy sources, such as solar, hydropower, etc., may restrain the market growth during the forecast period.
The offshore wind segment is likely to witness significant growth due to the increasing number of wind energy projects in the offshore segment.
The United Kingdom has set targets to achieve net-zero emissions by 2050 as part of its commitment to the Paris Climate Accord signed during the COP26. Such targets are expected to create significant opportunities for players involved in the UK wind energy market soon.
The increasing adoption of alternative renewable energy sources, such as solar, hydropower, biomass, etc., may restrain the market growth during the forecast period.
UK Wind Power Industry Segmentation
The UK wind energy market report includes:
United Kingdom Wind Energy Market Size Summary
The UK wind energy market is poised for substantial growth, driven by a strong focus on reducing emissions and supportive government policies. The market is expected to experience a robust expansion, particularly in the offshore segment, due to the increasing number of projects and investments in this area. The UK's commitment to achieving net-zero emissions by 2050, as part of the Paris Climate Accord, is creating significant opportunities for wind energy development. However, the market faces challenges from the growing adoption of alternative renewable energy sources such as solar and hydropower, which could potentially restrain its growth trajectory.
The offshore wind energy sector is anticipated to dominate the UK wind energy market, supported by government initiatives and funding for research and development projects. The UK government has set ambitious targets to meet its power needs entirely through renewable sources by 2035, prompting a surge in renewable energy projects, including wind, solar, and hydropower. Despite the promising outlook for wind energy, the market is moderately consolidated, with key players like Siemens Gamesa, Vattenfall, and Orsted actively participating in the sector. The ongoing developments in other renewable energy sources, such as solar and hydropower, indicate a competitive landscape that may impact the wind energy market's growth during the forecast period.
United Kingdom 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 Wind Energy Installed Capacity and Forecast in MW, till 2027
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1.3 United Kingdom Renewable Energy Mix, 2020
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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 PETSLE Analysis
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2. MARKET SEGMENTATION - BY LOCATION OF DEPLOYMENT
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2.1 Onshore
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2.2 Offshore
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United Kingdom Wind Energy Market Size FAQs
What is the current United Kingdom Wind Energy Market size?
The United Kingdom Wind Energy Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in United Kingdom Wind Energy Market?
Vattenfall AB, Vestas Wind Systems A/S, Orsted A/S, Siemens Gamesa Renewable Energy S.A. and General Electric Company are the major companies operating in the United Kingdom Wind Energy Market.
