Market Size of Thailand Wind Energy Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 4.98 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Thailand Wind Energy Market Analysis
The Thailand wind energy market is expected to grow at a CAGR of more than 4.98% during the forecast period 2020-2025. The market studied is expected to witness significant growth due to rising energy demand coupled with the increasing share of renewables in the power generation mix, efforts to reduce the reliance on fossil fuel-based power generation, regulations on energy efficiency. However, factors such as a number of the technical, regulatory and interconnection challenges are expected to restrain the growth of the wind energy market in Thailand in the coming years.
- Thailand is targeting 3000 MW of wind energy by 2036, up from around 1018 MW in 2018. Increasing the country's wind energy target to an additional 7 GW by 2037 and putting in place the corresponding policy frameworks will ensure that wind projects can develop efficiently to put Thailand on a firm path towards clean and competitive energy.
- The upcoming projects in the offshore wind energy market in the Gulf of Thailand are expected to create significant opportunities for the players involved in the wind energy market in the near future.
