Market Size of Asia-Pacific Wind Power Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 12.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Wind Power Equipment Market Analysis
During the time frame of the forecast, the Asia-Pacific wind power equipment market is expected to grow at a CAGR of more than 12%.
The market was mildly impacted by the COVID-19 pandemic but has since recovered and is expected to grow steadily during the forecast period.
- Over the long term, The rising investments in wind farms and the reducing cost of wind energy are likely to drive the Asia-Pacific wind power equipment market during the forecast period.
- On the other hand, the market is expected to slow down during the forecast period because more people are using renewable energy sources like solar.
- Still, the development and commercialization of floating offshore wind technology are expected to be a big chance for the market after the forecast period.
- China is expected to be the biggest market for wind power equipment in the region because more money is being put into the industry and it has the most wind power installed capacity in the region.
