The Market Report Covers Wind Energy Companies in Australia and is segmented by location of deployment (Offshore and Onshore).

In 2021, approximately 8.7 thousand gigawatt hours of wind energy had been generated in Victoria. This accounted for around 32.3 percent of the total wind energy generation capacity in Australia.

The report covers APAC Top Wind Turbine Manufacturers and the market is Segmented by Location (Onshore and Offshore) and Geography (China, India, Japan, South Korea, Australia, and the Rest of Asia-Pacific). The installed capacity and forecasts for Asia-Pacific Wind Power Market are provided in gigawatts (GW) for all the above segments.

Australia Renewable Energy Market size was valued at USD 20.31 Billion in 2023 and is projected to reach USD 42.91 Billion by 2031, growing at a CAGR of 9.8% from 2024 to 2031.

Declining Costs of Solar and Wind Technologies: The significant reduction in the cost of solar and wind technologies has accelerated the rise of renewable energy in Australia. According to the CSIRO's GenCost 2021-22 report, utility-scale solar prices have decreased by 82% and wind costs by 43% in the last decade, making them the most cost-effective sources of new power generation.

Rising Corporate Power Purchase Agreements (PPAs): Corporate demand for renewable energy via PPAs has emerged as a significant industry driver. According to the Business Renewables Centre Australia, corporate PPAs enabled 4.5 GW of renewable energy projects from 2017 to 2022, including a record 1.2 GW of agreements inked in 2022.

As of 2023, over 36 percent of Australia's total wind energy was generated in Victoria. In the same year, approximately 8.4 percent of the total wind energy in Australia was generated in Queensland.

The offshore wind turbine market is experiencing robust growth, projected to reach a market size of $22.97 billion in 2025 and exhibiting a Compound Annual Growth Rate (CAGR) of 8.15% from 2025 to 2033. This expansion is driven by several key factors. Firstly, the increasing urgency to transition to cleaner energy sources and meet stringent carbon emission reduction targets is fueling substantial investments in renewable energy infrastructure. Governments worldwide are implementing supportive policies, including subsidies and tax incentives, to accelerate offshore wind energy deployment. Secondly, technological advancements are leading to the development of more efficient and cost-effective turbines, particularly those suitable for deeper waters and harsher conditions. This includes innovations in floating foundation technologies which unlock access to previously unexploitable offshore areas with higher wind speeds. Furthermore, the decreasing cost of wind turbine components and installation processes contributes significantly to market expansion, making offshore wind power increasingly competitive with traditional energy sources. The market is segmented by location of deployment (shallow water and deepwater), foundation type (fixed and floating), and turbine capacity (below and above 5 MW), each segment showing unique growth trajectories driven by specific technological and geographical factors. Competitive landscape analysis indicates strong participation from established players like Vestas, Siemens Gamesa, and General Electric, alongside emerging companies in Asia, particularly China, showcasing a globalized and dynamic market. The geographical distribution of the market reveals strong regional variations. Europe, particularly the North Sea region, is currently leading in offshore wind energy capacity due to early adoption and favorable policy environments. However, Asia-Pacific, specifically China, is expected to experience significant growth in the coming years, driven by massive government investments and expanding energy demands. North America is also witnessing a surge in offshore wind project development, spurred by increasing political and public support for renewable energy. While restraints such as high initial investment costs and complex permitting processes still exist, continuous innovation and policy support are mitigating these challenges, paving the way for sustained growth in the offshore wind turbine market throughout the forecast period. The ongoing technological advancements in turbine design, grid integration, and maintenance practices further contribute to the market's positive outlook. Recent developments include: July 2023: Ocean Winds agreed to develop offshore wind projects off the coast of Victoria, Australia. The deal is a joint venture between France’s Engie and Portuguese electric utilities company EDP. The joint venture is looking to build three wind farms totaling 4 GW in the Gippsland area, declared Australia’s first offshore wind zone., March 2023: India announced the tender for sea-bed leasing for offshore wind projects. The tender will likely be for four blocks of sea bed in the Gulf of Mannar, off the coast of southern Tamil Nadu, each of which can accommodate 1 GW of wind power plants. Bidders will be given marks for their technical capabilities (70 percent) and the lease rent they offer for the sea bed (30 percent).. Key drivers for this market are: 4., Rising Energy Demand4.; The Increasing Share of Renewables in the Power Generation Mix. Potential restraints include: 4., Adopting Clean Energy Sources Like Solar and Other Alternatives. Notable trends are: Deepwater Segment to Witness Significant Growth.

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Wind Turbine Monitoring Systems Market Size 2025-2029

The wind turbine monitoring systems market size is forecast to increase by USD 9.07 billion at a CAGR of 17.8% between 2024 and 2029.

The market is witnessing significant growth due to the expanding global wind power market and the increasing adoption of offshore wind energy installations. However, the reliability of wind turbine systems is under scrutiny due to the rising number of false alarms, which casts doubts on the performance and longevity of turbine parts. To mitigate these challenges, market participants are focusing on developing advanced monitoring systems that provide real-time data and predictive analytics to enhance the efficiency and productivity of wind turbines.
Moreover, the integration of IoT and AI technologies in wind turbine monitoring systems is expected to revolutionize the industry by enabling proactive maintenance and reducing downtime. Overall, the market is poised for strong growth in the coming years, driven by these trends and the increasing demand for renewable energy solutions.

What will be the Size of the Wind Turbine Monitoring Systems Market During the Forecast Period?

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The market encompasses a range of hardware and software solutions designed to optimize wind farm performance and ensure the reliable operation of wind turbines. These systems enable real-time monitoring of critical parameters such as wind speeds, rotor blade performance, and stresses on blades, towers, and gearboxes. With the expansion of high-altitude wind projects and the use of tall towers, monitoring systems have become increasingly important for mitigating risks and enhancing energy production. Digitization of processes and the adoption of control strategies have driven the market's growth, with remote monitoring systems and predictive maintenance tools becoming essential subsystems.
Sensor technologies and hardware platforms form the foundation of these monitoring systems, while software platforms provide the data analysis and visualization capabilities necessary for effective wind farm management. Cybersecurity issues have emerged as a significant concern in the wind energy sector, with strong cybersecurity solutions becoming essential to protect against potential threats. Individual turbine control and troubleshooting capabilities are also critical features, enabling operators to quickly address any issues and minimize downtime. The market spans both onshore and offshore wind applications, with the offshore wind industry presenting unique challenges due to its complex and harsh operating environment.

How is this Wind Turbine Monitoring Systems Industry segmented and which is the largest segment?

The wind turbine monitoring systems industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Vibration monitoring
  Automated oil-particulate systems
  Acoustic monitors


Application

  Onshore
  Offshore


Deployment

  Cloud based
  On-premises


Product Type

  Hardware
  Software


Geography

  APAC

    China
    India
    Japan
    South Korea


  Europe

    Germany
    UK
    France


  North America

    Canada
    US


  Middle East and Africa



  South America

By Type Insights

The vibration monitoring segment is estimated to witness significant growth during the forecast period.

Wind turbine monitoring systems play a crucial role in optimizing wind farm performance and ensuring the reliability of wind energy production. These systems employ various sensors and technologies to collect data on wind speeds, tower vibrations, and stresses. Vibration sensors, with a recommended range of 0.1 to 100 Hz, are used to monitor tower conditions and identify stresses. High altitude wind and harsh weather conditions are effectively managed through tall towers and reliable gearboxes. Digitization of processes and control strategies enable real-time monitoring and predictive maintenance tools, enhancing overall wind farm performance.

Remote monitoring systems facilitate troubleshooting capabilities, reducing the need for onsite visits. Monitoring subsystems such as pitch systems, yaw systems, main control systems, and brake systems is essential for maintaining optimal windmill functionality. Cybersecurity issues are addressed through strong cybersecurity solutions and security services, ensuring the protection of sensitive data. Individual turbine control and energy production data are essential for wind farm operators and investors. Offshore wind farms and onshore applications alike benefit from these advanced monitoring systems. SMEs, startups, OEMs, and turbine manufacturers all contribute to the evolving wind energy landscape. Incorporatin

GlobalData’s renewable energy offering, “Wind Power Market Outlook in Australia to 2020 – Market share of Equipment Manufacturers and Regulations” gives a view of Australia’s wind energy market and provides forecasts to 2020. This report includes information on wind installed capacity and generation. It provides information on key trends, market share analysis of key component manufacturers, profiles of major industry participants, information on major wind Power Plants(wind farms) and analysis of important deals. This, along with detailed information on the regulatory framework and key policies governing the industry, provides a comprehensive understanding of the market for wind power in the country. This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by GlobalData’s team of industry experts. Read More

Global Wind Turbine market size is expected to reach $262.07 billion by 2029 at 9.8%, segmented as by component, rotator blade, gearbox, generator, nacelle, other components

Glass Fiber Blades: Most commonly used, offering a balance of cost and performance.Carbon Fiber Blades: Lighter and more durable, allowing for longer blades and higher energy output. Recent developments include: October 2022: Vestas has manufactured and rolled out the first 115.5-meter blade built for the V236-15.0 MW offshore wind turbine blade. The wind turbine blade was manufactured in Vestas' production facility in Nakskov, Denmark, using the mold built at the Lem, Denmark factory., March 2022: Hitachi Power Solutions will commence advanced services titled - Blade Total Service. It is expected to mitigate the risks of wind power facilities, including deterioration due to wear and tear of wind turbine blades, the stress inflicted by violent winds during storms, and damage induced by lightning by integrating AI and other digital technologies with advanced drone technology., September 2021: Siemens Gamesa introduced the Recyclable Blade, the globe's first wind turbine blade that can be recycled at the end of its lifecycle. This breakthrough is a critical step towards Siemens Gamesa's ambitious objective to create wind turbine blades completely recyclable by 2040., August 2019: Montenegro's Ministry of Economy has launched tendering for a long-term lease to state land to construct a wind farm with a minimum installed capacity of 70 MW in the Brajići locality in the municipalities of Budva and Bar., In April 2022, Hitachi Power Solutions utilized the assistance of Al as well as other digital technologies together with drones to mitigate dangers at wind power facilities. The "Blade Total Service" is based on service guidelines for greater security and safety of wind power facilities while inspecting blades for repair. It also integrates the inspection process using digital technology with repair work and maintenance planning. Additional benefits include the reduced time required for inspection yet increased efficiency in doing it together with enhanced accuracy., In March 2022, the ZEBRA (Zero wastE Blade ReseArch) consortium introduced the first prototype of its recyclable wind turbine blade. The largest thermoplastic blade is manufactured at the LM Wind Power plant utilizing Owens Corning's new high-performance glass materials along with Arkema's Elium resin. The manufacturing process involves the usage of automation to reduce production waste and energy consumption. Besides, there will be full-scale structural lifetime testing launched in the coming weeks that will be followed by recycling methods scheduled to happen before the end quarter of 2022., In April 2023, Sandvik AB announced that MCB Services and Minerals had been successfully acquired. This acquisition enables diversification into the market by the company and a focus on developing a growth strategy that will boost its presence in South America, thereby supporting Sandvik's strategic aim to expand into that market., In March 2023, Ansaldo Energia S.p.A. prepared a new industrial plan for its future. Such an industrial plan provides development in technology and know-how within conventional gas turbine and nuclear power industries while exploiting the diversification of business during the energy transition., In March 2023, Ansaldo Energia S.p.A recently unveiled its new industrial plan covering hitherto not known aspects of nuclear and gas turbine industries which are the mainstay of its business., In November 2022, Acciona S.A. announced plans for constructing a wind farm to increase generating capacity in Australia. This investment allows for the involvement of manufacturing businesses in Australia and allows for direct entry into Australian market by the organization., In March 2022, the ZEBRA (Zero Waste Blade Research) consortium represented a new milestone in the wind energy industry's move toward a circular economy with its recyclable 100% blade wind turbine prototype production. The blade was produced using Arkema's Elium resin, a thermoplastic resin well-known for its recyclability, and Owens Corning's new high-performance Glass Fabrics.. Notable trends are: The rise in the requirement for electricity is driving the market growth.

“Wind Power Market, Update 2019 – Global Market Size, Average Price, Turbine Market Share, and Key Country Analysis to 2030” is the latest market analysis report from GlobalData, the industry analysis specialist that offers comprehensive information and understanding of the wind power market. The report provides a clear overview of and detailed insight into the global wind power market. It explains the key drivers and challenges affecting the market and provides data covering historic and forecast market size, installed capacity and generation globally, and in ten key wind power markets – The US, Canada, Brazil, Germany, Spain, UK, South Africa, China, India, and Australia.
The report uses data and information sourced from proprietary databases, primary and secondary research, and in-house analysis by GlobalData’s team of industry experts. Read More

Global Onshore Wind Turbine market size is expected to reach $66.84 billion by 2029 at 5.6%, segmented as horizontal axis, upwind turbines, downwind turbines, variable pitch turbines

The size of the Asia-Pacific Wind Power Equipment Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 12.00">> 12.00% during the forecast period. The wind power equipment market in the Asia-Pacific region is witnessing substantial growth, primarily due to the heightened emphasis on renewable energy and sustainability within the area. Nations such as China, India, Japan, and South Korea are making significant investments in wind energy as part of their initiatives to lower carbon emissions and address climate change challenges. Notably, China stands out as a key player, leading in both the installation of wind turbines and the manufacturing of wind power equipment. The market's expansion is supported by technological advancements, including the creation of more efficient wind turbines and enhanced energy storage solutions, which improve the feasibility and dependability of wind energy. Furthermore, favorable government policies, such as subsidies and incentives for renewable energy initiatives, are accelerating market growth. The rising demand for clean energy, along with growing environmental consciousness among consumers, is fostering the adoption of wind power. As technology progresses, it is anticipated that costs will decline, rendering wind power increasingly competitive with conventional energy sources. In summary, the Asia-Pacific wind power equipment market is poised for significant growth, playing a crucial role in the region's renewable energy objectives and the global transition towards sustainable energy systems. Recent developments include: November 2022: As part of its partnership with TagEnergy, Vestas Energy has announced that it will provide EPC services for the Golden Plains Wind Farm, a 756 MW project located in Victoria, Australia, which will feature 122 V162-6.2 MW EnVentus wind turbines., April 2022: Envision Energy announced that it had been awarded a 2000 MW wind turbine order in India. The company will supply 596 of its EN156/3.3 wind turbines for the projects, all of which will be manufactured in Envision's India factory and delivered by the end of 2023.. Key drivers for this market are: 4., Higher Demand for Oil and Gas in the Country4.; Growing Infrastructure Development. Potential restraints include: 4., Competition from Renewable Energy. Notable trends are: Onshore Segment to Dominate the Market.

The Asia-Pacific Wind Power Equipment Market is Segmented by Location (Onshore and Offshore), Equipment Type (Rotor/Blade, Tower, Generator, Gearbox, and Other Equipment Types), and Geography (China, India, Japan, Australia, and the Rest of Asia-Pacific). The report offers the market size and forecasts for wind power equipment in revenue (USD billion) for all the above segments.

This dataset contains very long minutely time series representing the wind power production of 339 wind farms in Australia. It was downloaded from the Australian Energy Market Operator (AEMO) online platform.

The original dataset contains missing values and they have been replaced by zeros.

Global Wind Energy market size is expected to reach $219.67 billion by 2029 at 11.7%, segmented as by turbine type, horizontal axis, vertical axis

Offshore Wind Turbine market will be growing at a CAGR of 8.11% during 2025 to 2033.

For the fifth consecutive year, the Australian wind powered generator market recorded growth in sales value, which increased by 0.4% to $7.7B in 2024. The market value increased at an average annual rate of +1.5% from 2012 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $8.2B. From 2015 to 2024, the growth of the market remained at a lower figure.

Australia Renewable Energy Market is Segmented by Technology (Solar, Wind, Hydropower, and Other Technologies). The report offers the market size and forecasts in installed capacity (gigawatts) for all the above segments.

Global Off Shore Wind Turbine market size is expected to reach $65.96 billion by 2029 at 15.7%, segmented as by foundation type, monopile, jacket, tripod, floating