At 11.3% CAGR, Middle East & Africa Wind Turbine Generator Market is Projected to be Worth US$ 151.49 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa wind turbine generator market was valued at US$ 64.50 million in 2022 and is expected to reach US$ 151.49 million by 2030, registering a CAGR of 11.3% from 2022 to 2030. Increasing product launches and rising wind farms are among the critical factors attributed to the Middle East & Africa wind turbine generator market expansion.

According to the Global Wind Energy Council (GWEC), as of 2022, a total of 906 GW of wind capacity has been installed globally, of which 93% is onshore and 7% offshore. It is expected that the wind energy markets will grow fourfold in the coming 20 years, further raising the demand for advanced wind turbine components. The growing demand for wind energy will require advanced turbine components such as rotor blades, nacelle, gearbox, generator, tower, and pitch systems. This has compelled the market players to boost their investment in developing new and innovative products. Various wind turbine generator manufacturers are working on deploying advanced products to cater to the growing customer needs.

Such advancements in wind turbine components, supported by high investments from global manufacturers and government policies for climate control to enhance their product portfolio, are fueling the growth of the wind turbine generator market. Also, the rising demand for recyclable components to protect the environment is pushing manufacturers to develop more recyclable components. In addition, manufacturers are coming up with more efficient components, which will help produce more electricity from wind turbines by reducing turbine downtime. Thus, the growing product innovation as per the changing customer requirements is driving the growth of the wind turbine generator market.

On the contrary, dependence on Chinese wind turbine component manufacturers hampers the growth of Middle East & Africa wind turbine generator market.

Based on type, the Middle East & Africa wind turbine generator market is bifurcated into direct current and AC synchronous. The AC synchronous segment held 70.7% share of the Middle East & Africa wind turbine generator market in 2022, amassing US$ 45.61 million. It is projected to garner US$ 109.49 million by 2030 to expand at 11.6% CAGR during 2022–2030.

In terms of deployment type, the Middle East & Africa wind turbine generator market is bifurcated into onshore and offshore. The onshore segment held 100.0% share of the Middle East & Africa wind turbine generator market in 2022, amassing US$ 64.50 million. It is projected to garner US$ 151.49 million by 2030 to expand at 11.3% CAGR during 2022–2030.

Based on country, the Middle East & Africa wind turbine generator market is categorized into Egypt, South Africa, Saudi Arabia, and the Rest of Middle East & Africa. South Africa held 40.0% share of Middle East & Africa wind turbine generator market in 2022, amassing US$ 25.80 million. It is projected to garner US$ 44.89 million by 2030 to expand at 7.2% CAGR during 2022–2030.

Key players operating in the Middle East & Africa wind turbine generator market are Envision Energy USA Ltd, Mingyang Smart Energy Group Co, Nordex SE, Siemens Gamesa Renewable Energy SA, Xinjiang Goldwind Science & Technology Co Ltd, Vestas Wind Systems AS, General Electric Co, Suzlon Energy Ltd, and ENERCON GmbH, among others. 

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