Wind Power Generation Industry Profile

Companies in this industry operate power generation facilities that use turbines to convert wind into electricity. Major companies include US-based Berkshire Hathaway Energy, Invenergy, NextEra Energy, and Pattern Energy, as well as EDP Renováveis and IBERDROLA Renewables (both based in Spain), EDF (France), and EON Climate & Renewables (Germany).

The value of world's wind energy market is expected to reach over $237 billion by 2034, according to Precedence Research. Global wind turbine capacity totals about 1.1 terawatts (GW), according to Statista. Major sources of new wind farm development include China, the US, Brazil, Australia and Turkiye, according to Visual Capitalist. Emerging markets, primarily in the Indo-Pacific region and North America, represent new development opportunities in the expansion of offshore with collaboration between government and the private sector, according to the World Economic Forum.

The US wind power generation industry includes about 500 establishments (single-location companies and units of multi-location companies) that operate varying numbers of wind turbine farms and have combined annual revenue of about $8 billion.

COMPETITIVE LANDSCAPE

Demand for wind power generation is driven by public support for alternative, nonpolluting renewable energy production methods, along with government incentives that encourage the production and use of renewable energy. Profitability of individual companies depends on strategically locating wind farms in geographies with sufficient wind conditions and access to electric transmission facilities. Large companies often have other energy holdings (such as traditional electricity ...