CORRECTING and REPLACING Global Wind Turbine Generator Market Size to Increase by $ 7.22 Billion During 2020-2024 | Business Continuity Plan for New Normal | Technavio

·5-min read

Please replace the release dated December 1, 2020 with the following corrected version due to multiple revisions.

This press release features multimedia. View the full release here:

Technavio has announced its latest market research report titled Wind Turbine Generator Market 2020-2024 (Graphic: Business Wire)

The updated release reads:


The wind turbine generator market is expected to grow by USD 7.22 billion, progressing at a CAGR of almost 4% during the forecast period.

Click & Get Free Sample Report in Minutes

The rise in wind energy consumption is one of the major factors propelling market growth. However, factors such as competition from fossil fuels will hamper growth.

More details:

Wind Turbine Generator Market: Application Landscape

Based on the application, the onshore segment led the market in 2019. The segment is driven by the declining cost of power generation across the globe. Besides, onshore projects require lower capital requirements compared with offshore projects, which is also contributing to the segment growth. The market in the segment will be significant over the forecast period

Wind Turbine Generator Market: Geographic Landscape

By geography, APAC is going to have a lucrative growth during the forecast period. About 57% of the market’s overall growth is expected to originate from APAC. The increased focus on renewable energy such as wind power generation is one of the key factors driving the market growth in APAC.

China and India are the key markets for wind turbine generators in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free.

View market snapshot before purchasing

Related Reports on Industrials Include:

Global Wind Turbine Bearing Market - Global wind turbine bearing market is segmented by product (GBMB and BBYBGB), application (offshore and onshore), and geography (APAC, Europe, North America, South America, and MEA). Click Here to Get an Exclusive Free Sample Report

Global Offshore Wind Turbine Market - Global offshore wind turbine market is segmented by substructures (monopiles, gravity foundation, and others) and geography (EMEA, APAC, and Americas). Click Here to Get an Exclusive Free Sample Report

Companies Covered:

  • ABB Ltd.

  • Alxion

  • AVANTIS Energy Group

  • Bora Energy

  • General Electric Co.

  • SANY Group Co. Ltd.

  • Siemens AG

  • Sinovel Wind Group Co. Ltd.

  • Suzlon Energy Ltd.

  • Vestas Wind System AS

What our reports offer:

  • Market share assessments for the regional and country-level segments

  • Strategic recommendations for the new entrants

  • Covers market data for 2019, 2020, until 2024

  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)

  • Strategic recommendations in key business segments based on the market estimations

  • Competitive landscaping mapping the key common trends

  • Company profiling with detailed strategies, financials, and recent developments

  • Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

Register for a free trial today and gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Key Topics Covered:

Executive Summary

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five forces summary

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Application

  • Market segments

  • Comparison by Application

  • Onshore - Market size and forecast 2019-2024

  • Offshore - Market size and forecast 2019-2024

  • Market opportunity by Application

Customer Landscape

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

  • Market drivers – Demand led growth

  • Market challenges

  • Market trends

Vendor Landscape

  • Vendor landscape

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • ABB Ltd.

  • Alxion

  • AVANTIS Energy Group

  • Bora Energy

  • General Electric Co.

  • SANY Group Co. Ltd.

  • Siemens AG

  • Sinovel Wind Group Co. Ltd.

  • Suzlon Energy Ltd.

  • Vestas Wind System AS


  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200