Canada Wind Energy Market Size

Statistics for the 2023 & 2024 Canada Wind Energy market size, created by Mordor Intelligence™ Industry Reports. Canada Wind Energy size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Canada Wind Energy Industry

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Canada Wind Energy Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Market Volume (2024) 18.17 gigawatt
Market Volume (2029) 27.75 gigawatt
CAGR (2024 - 2029) 8.83 %
Market Concentration Medium

Major Players

Canada Wind Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Canada Wind Energy Market Analysis

The Canada Wind Energy Market size is estimated at 18.17 gigawatt in 2024, and is expected to reach 27.75 gigawatt by 2029, growing at a CAGR of 8.83% during the forecast period (2024-2029).

In 2020, COVID-19 had a detrimental effect on the market. Presently, the market has reached pre-pandemic levels.

  • Over the long term, factors such as upcoming new wind projects, the declining costs of wind technologies becoming competitive with fossil fuel sources, and additional subsidies on wind energy systems are further driving the wind energy market.
  • On the other hand, in the absence of any new initiatives, an underdeveloped power grid in Canada is expected to hinder the growth of the wind energy market in the coming years.
  • Nevertheless, under the 2015 Paris Agreement on Climate Change, Canada is committed to reducing greenhouse gases (GHG) by at least 80% below 2005 levels by 2050. Since, among Canadian renewable energy sources, wind energy contributes low-cost power and flexibility to a modernized electricity grid, this, in turn, is expected to provide a better opportunity for the Canadian wind energy market in the coming future.

Wind Energy in Canada Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)