Wind energy is one of the fastest-growing energy sources in the world and is poised to play a key role in mitigating global climate change and future energy provision. Of the renewable energy technologies, wind energy ranks second only to hydroelectric power in terms of installed capacity, globally. The global wind power market has achieved exceptionally high growth rates over the past few years. The growth is driven by national governments' push to improve energy security, and in particular, to reduce coal consumption due to growing concerns about climate change and air pollution.
More than half of the world’s wind power capacity has increased over the past five years. The global wind power market is expected to reach a cumulative installed capacity of 1,000 GW by the end of 2025, with Asia-Pacific as the dominant region. The offshore wind market is expected to grow much faster than the onshore wind market.
Globally, the major challenges faced by the wind industry include the high cost of materials used for the production of rotor blades, wind turbines and wind structures, logistics difficulties, and harsh conditions that hinder operations. In addition, the modern utility-scale wind turbines and rotor blades have grown in size to increase energy capture and reduce the levelized cost of electricity (LCOE). These, over the decades, have driven several innovations in the design, materials, and manufacturing techniques to develop a reliable and efficient system that can produce cheap energy from wind.
This study focuses on recent innovations in the global wind market. This study begins with a short focus on the global wind market and the market forecast to 2030. The research focus of this study includes innovations in four main segments: wind turbines and blades, operations and maintenance (O&M), foundations and energy storage and weather forecasting. This study also includes various use cases across each innovation segment. It also provides an introductory insight into the potential role of concepts such as data monetization, blockchain, and circular economy. Finally, the study concludes by giving the three major predictions for the future of the global wind power market.
Key Issues Addressed
- Is the global wind energy market growing and how much will it continue to grow until 2030? What are the key regional markets?
- What are the key trends driving the global wind energy market? What challenges will deter growth?
- What are the technological innovations transforming the global wind energy market?
- In which segments in the wind energy market are innovations happening?
- What companies are leading and reshaping the global wind energy market?
1. Executive Summary
- Global Wind Energy Market
- Global Wind Energy Market - Key Trends
- Technological Innovations in Wind Energy Market
- Innovations in the Global Wind Energy Market
2. Research Scope and Methodology
- Research Aim and Scope
- Research Methodology
- Key Questions this Study will Answer
3. Global Wind Energy Market
- Global Wind Energy Market
- Key Trends Driving the Global Wind Energy Market
- Key Regions of Development
4. Top Six Trends Driving the Global Wind Energy Market
- 6 Key Trends Driving the Global Wind Energy Market
- Continued Decline in Wind Energy Prices
- Offshore Growth
- Increasingly Larger Turbines
- PPAs on the Rise
- Growth in Energy Storage
- Technology Innovations
5. Innovations in the Global Wind Energy Market
- Innovations - Global Wind Energy Market
- Global Innovation Landscape - Wind Energy Market
6. Innovations in Wind Turbine, Rotor Blades Manufacturing and Design
7. Innovations in Operations and Maintenance
- Innovations in Operations and Maintenance - Global Wind Energy Market
8. Innovations in Foundations (Onshore and Offshore)
- Innovations in Foundations - Global Wind Energy Market
9. Innovations in Energy Storage and Power Generation Forecasting
10. Other Innovations in the Global Wind Energy Market
- Blockchain in the Global Wind Energy Market
- Blockchain - Impact on Wind Turbines
- Circular Economy
- Data Monetization
11. Growth Opportunities and Companies To Action
- Growth Opportunity 1 - IoT-enabled Products
- Growth Opportunity 2 - Data Analytics, Edge Computing and Cloud
- Growth Opportunity 3 - Advanced Materials and Green Technologies
- Strategic Imperatives for Global Wind Energy Market
12. Three Big Predictions
- The Last Word - 3 Big Predictions
- Legal Disclaimer
- List of Exhibits