1. What is the projected Compound Annual Growth Rate (CAGR) of the Horizontal-Axis Wind Turbine Market?
The projected CAGR is approximately 6.9%.
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Horizontal-Axis Wind Turbine MarketHorizontal-Axis Wind Turbine Market by Type (Small, Large), by Operation (Upwind, Downwind), by Application (Onshore, Offshore), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2026-2034
The Horizontal-Axis Wind Turbine Market size was valued at USD 42.36 USD Billion in 2023 and is projected to reach USD 67.58 USD Billion by 2032, exhibiting a CAGR of 6.9 % during the forecast period. A Horizontal-Axis Wind Turbine (HAWT) comprises a main rotor shaft together with an electrical generator normally placed on top of a tower and blades that rotate perpendicular to the wind. The most identifiable subcategories of HAWTs are the upwind turbines where the blades are positioned to face the wind and downwind turbines, which have the rotors on the lee side. Some of the main components are the efficiency of the blade and tower for elevating its height and gearbox to vary the rotational speeds. HAWTs are nevertheless mainly employed in wind power plants for electricity generation whether onshore or offshore due to their reliability in capturing massive wind power positively.
By Type:
By Operation:
By Application:
Stars: Vestas, GE Renewable Energy, Siemens Gamesa Renewable Energy
Cash Cows: Northern Power Systems, Endurance Wind Power Inc
Question Marks: WinPower SA, Bergey Windpower Co. Inc.
Dogs: Polaris, XZERES Corp.
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 6.9% from 2020-2034 |
| Segmentation |
|
Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 6.9%.
Key companies in the market include Northern Power Systems, WES Wind Energy Solutions, Kingspan Global, Shanghai GHREPOWER Green Energy Co., Endurance Wind Power Inc, Fortis windenergy, WinPower SA, Nanjing Oulu Electric Corp., Bergey Windpower Co. Inc., Polaris, BRITWIND LIMITED, HY-Energy Systems Inc., and XZERES Corp..
The market segments include Type, Operation, Application.
The market size is estimated to be USD 42.36 USD Billion as of 2022.
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Increasing Penetration of Renewables in Energy Mix to Obstruct Market Growth.
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