The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021.
This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030.
However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption.
In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030.
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