Market Size of North America Wind Power Equipment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 3.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Wind Power Equipment Market Analysis
The North American wind power equipment market is expected to register a CAGR of more than 3% during the forecast period.
In 2020, COVID-19 had a detrimental effect on the market. Presently, the market has reached pre-pandemic levels.
- Over the medium term, factors such as rising investments in wind farms and reducing the cost of wind energy are likely to drive the North American wind power equipment market.
- On the other hand, increasing adoption of alternate clean power sources such as solar and hydropower is expected to restrain the market.
- Nevertheless, Canada has committed to reducing greenhouse gas emissions by 30 percent by 2030 and recognizes the importance of a clean electricity grid in supporting that objective. A part of the target is expected to be completed using wind energy, which may act as an opportunity for market players.
- The United States is expected to be the largest market for the region's wind power equipment market due to increasing investment in the sector and the highest installed capacity of wind energy in the region.
