Horizontal Axis Wind Turbine Market is Anticipated to Reach a Value of USD 5.8 Billion by Growing at a CAGR of more than 6.9% During 2022

SkyQuest's research report on the horizontal axis wind turbine market is compiled using a robust methodology using a sound methodology that incorporates SWOT analysis, technological evaluation, cost analysis, product benchmarking, recent advancements, and precise forecasting. This process guarantees that the research offers trustworthy and accurate market insights. For investors, business experts, and other participants concerned with this industry, this market report offers a useful resource.

Westford, USA,, Feb. 23, 2023 (GLOBE NEWSWIRE) -- The share of the horizontal axis wind turbines market is anticipated to be dominated by the Europe region. The growth of the market can be ascribed to the increasing installation of turbines in the region. Rapid improvements in the creation of renewable energy systems, such as both stationary and floating offshore wind farms, are what propel technology acceptance. Having little environmental impact, needing little maintenance, and having cheap labor expenses are a few of the primary variables estimated to influence market share during the forecast period. Additionally, both public and private funding in utility-scale projects and continuous efforts to locate viable offshore wind project locations are fueling the industry's overall growth.

SkyQuest's latest research report shows that the increasing power demand across the globe, backed by the inclusion of renewable energy sources and the greater consumption of clean energy are driving forces behind overall industry expansion. The analysis also projects that, from 21.5 billion MWh in 2010, worldwide electricity generation will have climbed by 123% to 150% by 2050, reaching 53.6 billion MWh.

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Browse in-depth TOC on " Horizontal Axis Wind Turbine Market"

Pages - 221

Tables - 61

Figures – 68

Wind turbines with a horizontal axis (HAWTs) The most popular types of wind turbines in use today are HAWTs. HAWTs use rotors that can be either upwind or downwind-positioned and are mounted with aerodynamic blades (also known as airfoils). Often having two or three blades, HAWTs move quickly at the blade tips. The generator is operated when the rotor converts the static energy of the wind into rotational kinetic energy. With the shape of an airfoil, the air passes through the blades. It moves quickly over the blade's longer side, reducing the pressure above the wing and causing the blades to spin.

Prominent Players in Horizontal Axis Wind Turbine Market

Northern Power Systems (US)

WES Wind Energy Solutions (Netherlands)

Kingspan Global (Ireland)

Shanghai GHREPOWER Green Energy Co., Ltd. (Shanghai)

Endurance Wind Power Inc. (Canada)

Fortis wind energy (Germany)

WindPower SA (Portugal)

Nanjing Oulu Electric Corp., Ltd. (China)

Bergey Windpower Co. Inc. (Oklahoma)

Polaris (US)

Britwind Limited (UK)

HY Energy Systems Inc. (US)

XZERES Corp. (US)

City Windmills Ltd.

Hi VAWT Technology Corp.

Small Type Horizontal Axis Turbine Segment to Gain the Largest Market Share Owing to Benefit of its Compact Size

The horizontal axis wind turbine market is divided into large and small players based on Type. The small type has the biggest market share because of its compact size, which makes it simple to install in a variety of areas to deliver energy, including buildings, homes, and others. Rural settings with lots of open space and little barriers to wind speed are the greatest places for small wind turbines. Moreover, the rising installation of this type of turbine is predicted to boost the segment growth over the upcoming years. SkyQuest noted that there is large space available in rural areas where this small turbine can easily be installed as each installed wind turbine can produce over 2.2 MW and can meet the additional power demand of the area.

Europe region is estimated to remain a leader in the horizontal axis wind turbine market by gaining the largest market share during the forecast period. The growth of the market can be ascribed to the increasing installation of wind turbines and the rising demand for renewable power sources in the region. SkyQuest found during research that the European Green Deal project can only be implemented with the use of offshore wind energy. By utilizing the enormous potential of the five EU sea basins, the operational offshore wind capacity in the EU, which was 14.5 GW in 2021, is expected to expand by more than 24 times by 2030.

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Offshore Segment to Gain Highest Market Share Thanks to Increasing Investment in Offshore Installations

Onshore and offshore make up the market segments for horizontal axis wind turbines based on application. The market share that belonged to the offshore segment is estimated to be the largest during the forecast period as offshore power generation commonly uses horizontal axis wind turbines. The increasing construction of significant offshore wind farms across the globe is predicted to fuel the segment growth. Future wind farms are predicted to be massive, with capacities between 50 and 100 MW, and due to their size and remoteness, they need to be located many miles offshore.

Moreover, over the next few years, the Asia Pacific horizontal axis wind turbine industry is expected to expand considerably. It is projected that China would have a substantial impact on the Asia Pacific wind turbine market. It is projected that lower component costs and increased domestic system production will enhance the regional market environment. SkyQuest noted that over 69.5% of the newly built wind capacity in 2021 came from China, the United States contributed 14%, and Brazil contributed 7%. China will hold the title of the largest manufacturer of wind power equipment by 2028. Goldwind, based in the province of Xinjiang, is China's largest domestic maker of wind turbines.

An extensive study of the industry's size, share, and major players is included in a new research report that focuses on the global horizontal axis wind turbine market. The research also provides a thorough analysis of the state of the industry today and takes into account the effects of important occurrences and regional market circumstances. The leading players in the market are also included in the report, together with their market shares, strategies, and significant advancements.

Key Developments in the Horizontal Axis Wind Turbine Market

The top offshore wind turbine producer in Europe is Siemens Gamesa Renewable Energy. The Spanish-based firm, which runs 3,675 turbines and produces around 17 gigawatts of electricity, accounted for 68.1 percent of all total installations in 2020.

Recently on November 2022, the largest offshore wind turbine, a 16 MW unit created in China's Fujian Province, with a 145-meter turbine hub and a 251-m dia, was erected by China Three Gorges Corp. and partner Goldwind,

X1 Wind, a startup in the field of renewable energy, has created an innovative and ground-breaking offshore wind turbine floater with significant operational and environmental advantages. Technip Energies, a leading engineering and technology company committed to advancing the energy transition, announced that it has acquired a 16.3% stake in X1 Wind.

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Key Questions Answered in the Horizontal Axis Wind Turbine Market Research Report

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What effects do extraneous factors—like the state of the world economy and political developments—have on the target market?

Are there any particular difficulties that enterprises must overcome when making investments in the target market that set it apart from other places?

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