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Summary of our market study
By 2030, the global wind turbine market is set to more than quadruple, with installed capacity likely to exceed 1,000 GW.
Demand is particularly strong in Asia, propelling the market to a projected size of 1,107 GW in 2030, up from 273 GW in 2012.
Key players such as Vestas, General Electric and Siemens Gamesa dominate the European market, but very large Chinese and Indian companies dominate the Asian market.
Despite the dominance of onshore wind power, offshore projects are becoming an important part of wind power growth, although they currently account for only 5% of the market.
Trends in the French wind energy market
France is Europe's fourth-largest wind power producer, and wind energy contributes over 5% to the country's annual electricity consumption.
France has set itself ambitious targets, aiming to achieve between 15 and 25 gigawatts (GW) of installed onshore wind capacity and between 5 and 7 GW of installed offshore wind capacity, to reach a total installed base of over 25 GW.
Although it represents only a small fraction of the market today, offshore wind power is rapidly establishing itself as a vital growth sector, posting double-digit growth since 2015.
In France, government support is helping the wind energy sector.
The maintenance and servicing sector also presents opportunities, aligning with the increased emphasis on sustainability in energy production.
France has put in place a framework to govern the establishment and operation of wind turbines on its territory. This regulatory structure ensures that the burgeoning wind energy market develops in a controlled and environmentally-friendly manner.
Key players in the sector
- More than half of the wind turbine market is dominated by Chinese companies
- Vestas Wind Systems A/S - Danish wind energy pioneers
- General Electric - The versatile energy giant with a strong global presence
- Siemens Gamesa Renewable Energy - The result of the merger between Siemens Wind Power and Gamesa.
- Engie, an example of a power generation giant present on all production systems.
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Summary and extracts
1 Market summary
1.1 INTRODUCTION
A wind turbine is a device that transforms the kinetic energy of the wind into mechanical energy, thanks to the movement of a turbine: it is necessary to distinguish onshore wind power and offshore wind energy (at sea). The wind turbine manufacturing market therefore includes the main manufacturers involved in the design, construction and installation of wind turbines.
The wind power market should be multiplied by more than 4 by 2030 thanks to strong Asian demand, and global installed capacity will reach 1,107 gigawatts (GW) in 2030 compared to 273 GW in 2012. The 2020 objective set by the government in France is set at 19,000 MW of capacity installed in onshore wind power and 6,000 at sea ( offshore wind turbine ), i.e. a total installed base of more than 25,000 MW in France. France is now ranked in the 4th in Europe in the sector, behind Germany, Spain and the United Kingdom. In France, wind energy accounts for more than 5% of French electricity consumption each year and the sector is in full consolidation and creates jobs.
The market for the manufacture of wind turbines is dominated by some leading manufacturers, leaving little room for new entrants. The market leaders among turbine manufacturers are Vestas, General Electric, Siemens or Gamesa. Other players are trying to penetrate the market, seeing wind power as a growth driver for their company, such as energy companies like Engie
The exponential development of wind energy, particularly offshore, is a tremendous growth driver for the wind turbine manufacturers' market. The development of offshore wind energy however, requires specific know-how and skills. Even if it only represents 5% of the market today The offshore wind energy sector is a growth driver (double-digit growth since 2015) but this implies new technological challenges for component suppliers.
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