Asia Pacific Wind Turbine Generator Market Forecast to 2030

According to the Research Team’ research, the Asia Pacific wind turbine generator market was valued at US$ 1,908.34 million in 2022 and is expected to reach US$ 4,576.20 million by 2030, registering a CAGR of 11.6% from 2022 to 2030. Government initiatives to promote wind energy and rising wind farms are among the critical factors attributed to the Asia Pacific wind turbine generator market expansion.

There is an increase in demand for a clean energy source as it eliminates greenhouse gases, reduces dependence on imported fuels, and diversifies the energy supply. This is fueling government investments in the construction of wind farms globally.

Offshore wind expansion in Asia is a rapidly growing sector that has gained momentum in recent years. Several Asian countries are investing in offshore wind projects to harness the potential of wind energy from the sea. China, for instance, stands as a global leader in offshore wind development with notable projects such as the Shanghai Donghai Bridge Offshore Wind Farm and the Jiangsu Rudong Offshore Wind Farm. Taiwan is making substantial strides in offshore wind energy, exemplified by projects like Formosa 1 and Formosa 2, supported by the Taiwanese government’s clear targets and incentives. South Korea is also rapidly growing its offshore wind sector with projects like the Jeju Sindo Offshore Wind Complex. The Global Wind Energy Council is working on a net zero target by 2050. It is seen that the international offshore wind capacity has grown from 34.4 GW in 2020 to 64.3 GW in 2023 due to the new installations and developments in China and the US. Thus, to achieve the target of net zero emissions by 2050, significant investments are being made globally for the new construction and expansion of wind farms.

On the contrary, dependence on Chinese wind turbine component manufacturers hampers the growth of Asia Pacific wind turbine generator market.

Based on type, the Asia Pacific wind turbine generator market is bifurcated into direct current and AC synchronous. The AC synchronous segment held 71.2% share of the Asia Pacific wind turbine generator market in 2022, amassing US$ 1,359.57 million. It is projected to garner US$ 3,407.29 million by 2030 to expand at 12.2% CAGR during 2022–2030.

In terms of deployment type, the Asia Pacific wind turbine generator market is bifurcated into onshore and offshore. The onshore segment held 75.4% share of the Asia Pacific wind turbine generator market in 2022, amassing US$ 1,439.34 million. It is projected to garner US$ 3,416.15 million by 2030 to expand at 11.4% CAGR during 2022–2030.

Based on country, the Asia Pacific wind turbine generator market is categorized into Australia, India, China, Japan, South Korea, and the Rest of Asia Pacific. China held 85.1% share of Asia Pacific wind turbine generator market in 2022, amassing US$ 1,623.52 million. It is projected to garner US$ 3,654.56 million by 2030 to expand at 10.7% CAGR during 2022–2030.

Key players operating in the Asia Pacific wind turbine generator market are Envision Energy USA Ltd, Mingyang Smart Energy Group Co, Nordex SE, Siemens Gamesa Renewable Energy SA, Xinjiang Goldwind Science & Technology Co Ltd, Vestas Wind Systems AS, General Electric Co, Suzlon Energy Ltd, ENERCON GmbH, and Zhejiang Windey Co Ltd, among others.

In October 2023, Mingyang Smart Energy has announced plans for a new offshore wind turbine that, at 22 M.W., will be the world’s largest offshore wind turbine. According to the business, the typhoon-resistant MySE 22MW is appropriate for both fixed-bottom and floating applications. The turbine will be built between 2024 and 2025, according to the business.
In August 2020, Siemens Gamesa Renewable Energy has launched its next-generation wind turbine, the SG 3.4-145, in India.

1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Asia Pacific Wind Turbine Generator Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
4.2.1 List of Asia Pacific Wind Turbine Generator Suppliers
5. Asia Pacific Wind Turbine Generator Market – Key Industry Dynamics
5.1 Asia Pacific Wind Turbine Generator Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increasing Product Launches
5.2.2 Rising Wind Farms
5.3 Market Restraints
5.3.1 Dependence on Chinese Wind Turbine Component Manufacturers
5.4 Market Opportunities
5.4.1 Government Initiatives to Promote Wind Energy
5.5 Future Trends
5.5.1 Rising Demand for Floating Wind Technology
5.6 Impact of Drivers and Restraints:
6. Wind Turbine Generator Market – Asia Pacific Market Analysis
6.1 Asia Pacific Wind Turbine Generator Market Revenue (US$ Million), 2020 – 2030
6.2 Asia Pacific Wind Turbine Generator Market Forecast and Analysis
7. Asia Pacific Wind Turbine Generator Market Analysis -By Type
7.1 Overview
7.1.1 Asia Pacific Wind Turbine Generator Market, By Type (2022 and 2030)
7.2 Direct Current
7.2.1 Overview
7.2.2 Direct Current: Asia Pacific Wind Turbine Generator Market Revenue and Forecast to 2030 (US$ Million)
7.3 AC Synchronous
7.3.1 Overview
7.3.2 AC Synchronous: Asia Pacific Wind Turbine Generator Market, Revenue and Forecast to 2030 (US$ Million)
8. Asia Pacific Wind Turbine Generator Market Analysis – By Deployment Type
8.1 Overview
8.1.1 Asia Pacific Wind Turbine Generator Market, By Deployment Type (2022 and 2030)
8.2 Onshore
8.2.1 Overview
8.2.2 Onshore: Asia Pacific Wind Turbine Generator Market Revenue and Forecast to 2030 (US$ Million)
8.3 Offshore
8.3.1 Overview
8.3.2 Offshore: Asia Pacific Wind Turbine Generator Market, Revenue and Forecast to 2030 (US$ Million)
9. Asia Pacific Wind Turbine Generator Market – Country Analysis
9.1 Asia Pacific
9.1.1 Asia Pacific Wind Turbine Generator Market Overview
9.1.2 Asia Pacific Wind Turbine Generator Market Revenue and Forecasts and Analysis – By Country
9.1.2.1 Australia Wind Turbine Generator Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.1.1 Australia Wind Turbine Generator Market Breakdown by Type
9.1.2.1.2 Australia Wind Turbine Generator Market Breakdown by Deployment Type
9.1.2.2 China Wind Turbine Generator Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.2.1 China Wind Turbine Generator Market Breakdown by Type
9.1.2.2.2 China Wind Turbine Generator Market Breakdown by Deployment Type
9.1.2.3 India Wind Turbine Generator Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.3.1 India Wind Turbine Generator Market Breakdown by Type
9.1.2.3.2 India Wind Turbine Generator Market Breakdown by Deployment Type
9.1.2.4 Japan Wind Turbine Generator Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.4.1 Japan Wind Turbine Generator Market Breakdown by Type
9.1.2.4.2 Japan Wind Turbine Generator Market Breakdown by Deployment Type
9.1.2.5 South Korea Wind Turbine Generator Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.5.1 South Korea Wind Turbine Generator Market Breakdown by Type
9.1.2.5.2 South Korea Wind Turbine Generator Market Breakdown by Deployment Type
9.1.2.6 Rest of Asia Pacific Wind Turbine Generator Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.6.1 Rest of Asia Pacific Wind Turbine Generator Market Breakdown by Type
9.1.2.6.2 Rest of Asia Pacific Wind Turbine Generator Market Breakdown by Deployment Type
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
10.3 New Product Development
10.4 Merger and Acquisition
11. Company Profiles
11.1 Envision Energy USA Ltd
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Mingyang Smart Energy Group Co
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Nordex SE
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Siemens Gamesa Renewable Energy SA
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Xinjiang Goldwind Science & Technology Co Ltd
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Vestas Wind Systems AS
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 General Electric Co
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Zhejiang Windey Co Ltd
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 Suzlon Energy Ltd
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 ENERCON GmbH
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
12. Appendix
12.1 About the Research Team