The 2024 Wind Energy Industry Outlook presents an analysis of a sector playing a significant role in the worldwide shift to renewable energy. The industry is offering an eco-friendly and clean substitute for fossil fuels. Companies in this sector are concentrating on advancements like offshore wind farms, improved turbine models, and effective energy storage methods. This report explores market patterns, regulatory structures, and major participants. It highlights emerging technologies, investment opportunities, firmographic data, and strategic initiatives shaping the future.
This report was last updated in July 2024.
This wind energy report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.
StartUs Insights Wind Energy Report 2024
- Executive Summary
- Introduction to the Wind Energy Report 2024
- What data is used in this Wind Energy Report?
- Snapshot of the Global Wind Energy Industry
- Funding Landscape in the Wind Energy Industry
- Who is Investing in Wind Energy?
- Emerging Trends in the Wind Energy Industry
- 5 Wind Energy Startups impacting the Industry
Executive Summary: Wind Energy Industry Outlook 2024
This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 1100+ wind energy startups developing innovative solutions to present five examples from emerging wind energy industry trends.
- Industry Growth Overview: The wind energy industry has seen considerable growth, with an annual trend growth of 30.96% and more than 4800 companies contributing to the market.
- Manpower & Employment Growth: The industry employs 811.4K workers, with an addition of 34.2K new employees in the past year, indicating strong job creation.
- Patents & Grants: There are over 7800 patents and 600 grants, which highlight the sector’s emphasis on innovation and research.
- Global Footprint: The leading five country hubs are the USA, China, Germany, India, and the UK, while the leading five city hubs are London, Shanghai, Bangalore, Tokyo, and Mumbai.
- Investment Landscape: The industry has drawn considerable investment, with an average investment value per round of USD 126.6 million. More than 1000 funding rounds have been closed, demonstrating solid financial backing and investor trust.
- Top Investors: Prominent investors include Ratos, Qatar Investment Authority, European Investment Bank, and others who have collectively invested over USD 2.5 billion.
- Startup Ecosystem: Five startups showcasing innovation include AIWorkDesign (Energy Forecasting with Deep Learning), FARWIND ENERGY (Far-offshore Wind Energy), REBLADE (Wind Turbine Blade Repair Drone), Icetek (Ice Conditions Monitoring System), and Adamas (Asset Condition Monitoring).
- Recommendations for Stakeholders: Governments should establish supportive policies, and subsidies, and simplify permitting processes to encourage growth and draw investment. Entrepreneurs should develop comprehensive solutions that include storage and grid management whereas companies should establish strategic partnerships to expand operations.
Explore the Data-driven Wind Energy Outlook for 2024
The Wind Energy Report 2024 uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The heatmap shows key industry metrics. The database comprises 1109 startups from more than 4800 companies, indicating a vibrant and innovative environment. Industry growth has achieved a notable 30.96% in the past year, which shows solid expansion. There are over 7800 patents and 600 grants, highlighting the sector’s emphasis on innovation and research.
The global workforce is at 811.4K, with an increase of 34.2K employees in the last year. This shows the industry’s considerable impact on employment. The leading country hubs are the US, China, Germany, India, and the UK, while the leading city hubs are London, Shanghai, Bangalore, Tokyo, and Mumbai. These hubs are the centers of industry activity and drive growth and development.
What data is used to create this wind energy report?
Based on the data provided by our Discovery Platform, we observe that the wind energy industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.
- News Coverage & Publications: The industry has received over 97K publications in the past year. This indicates its rising importance and research focus.
- Funding Rounds: Our database includes information on more than 1000 funding rounds.
- Manpower: The wind energy sector employs over 811K workers, with an increase of more than 34K new employees in the past year.
- Patents: With 7800 patents, the industry shows considerable innovation and technological progress.
- Grants: 600 grants have been awarded, indicating funding support for wind energy research and development.
- Yearly Global Search Growth: The industry has seen a 2.05% annual global search growth that shows growing public interest and awareness.
A Snapshot of the Global Wind Energy Industry
The wind energy industry has 811.4K workers, with an addition of 34.2K employees in the last year. These metrics indicate job creation and sector growth. There are more than 4800 companies in the wind energy sector, further showing a varied and active market.
Explore the Funding Landscape of the Wind Energy Industry
From a financial perspective, the industry has considerable investment activity. The average investment value per round is USD 126.6 million, indicating investor confidence and capital influx. The industry has drawn over 500 investors and has led to more than 1000 funding rounds. Moreover, over 480 companies have received investment, which points to the financial support and growth potential in the sector.
Who is Investing in Wind Energy?
The combined value invested by these investors in the wind energy industry is over USD 2.5 billion. Here are the investors, their investment value, and the number of companies they have invested in:
- Ratos has invested USD 479.9 million in 2 companies, indicating backing and interest in the industry.
- Qatar Investment Authority has allocated USD 477.8 million to 2 companies, showing its commitment to renewable energy investments.
- European Investment Bank has contributed USD 507.2 million across 2 companies, indicating its role in financing green energy projects.
- Vitol has invested USD 350 million in 2 companies, showing its investments in the wind energy sector.
- European Bank for Reconstruction and Development has funded 3 companies with USD 345 million, indicating support for the industry’s growth and development.
- Nordic Investment Bank has provided USD 199.1 million to 3 companies, showing its support for sustainable energy initiatives.
- Goldman Sachs has invested USD 126.8 million in 2 companies, indicating its interest in the renewable energy market.
- Export Development Canada also invested USD 126.8 million in 2 companies, indicating its involvement in global wind energy projects.
- Halma has allocated USD 29.4 million to 2 companies, indicating a contribution to the sector’s innovation and growth.
- Addor Capital has invested USD 14 million in 2 companies, indicating support for early-stage ventures in wind energy.
Access Top Wind Energy Innovations & Trends with the Discovery Platform
Explore the key trends in the wind energy sector along with the firmographic data:
- Offshore Wind Energy has 3400+ identified companies and a workforce of 1 million employees, with 38K+ new hires in the past year. The sector has grown with an annual trend growth rate of 3.69%.
- The Airborne Wind Energy Systems trend has 47 identified companies and 661 employees, with 122 new hires in the past year. Further, it has an annual trend growth rate of 9.03%.
- The Wind Generation Forecasting trend includes 11 companies and employs 289 individuals with 42 new hires in the past year. It’s important in optimizing wind energy production and has experienced a decline with an annual trend growth rate of -1.28%.
5 Top Examples from 1100+ Innovative Wind Energy Startups
The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.
AIWorkDesign enables Energy Forecasting with Deep Learning
Turkish startup AIWorkDesign leverages deep learning for short-term energy forecasting of power plant locations. The platform offers many deep-learning results and provides high-resolution weather forecasting. It also features hourly prediction and aids in scheduling maintenance at the most appropriate times. Further, all statistics and forecasts are located in one place to facilitate learning from past data and predicting future incomes.
FARWIND ENERGY converts Far-offshore Wind Energy
French startup FARWIND ENERGY captures and delivers far-offshore wind energy. It offers an energy ship, a technology for offshore wind energy conversion. The Flettner rotors on these ships convert wind into propulsion force. Whereas, the water turbines attached to the ship convert kinetic energy into electricity. FARWIND ENERGY converts far-offshore wind energy into renewable fuel and explores the potential of methanol as an energy vector.
REBLADE offers Wind Turbine Blade Repair Drones
Danish startup REBLADE specializes in drone-based leading edge erosion repair technology. The technology replaces ropes with remotes and enables faster repair of leading edge erosion. The startup solution is designed for offshore and floating wind, as well as for ease of use by regular service teams. It offers a reduction in service time and costs compared to conventional solutions. REBLADE’s solution benefits wind farm developers, service companies, and OEMs.
Icetek develops an Icing Monitoring System
Canadian startup Icetek develops technology for detecting and monitoring ice conditions to maximize wind energy production. The Ice Conditions Monitoring System (IC-1) detects the onset of icing, measures liquid water content, and estimates icing severity. It also provides other meteorological measurements such as wind speed, direction, air temperature, relative humidity, barometric pressure, and solar radiation. Icetek’s technology optimizes turbine operations, reducing downtime and improving grid reliability.
Adamas enables Asset Condition Monitoring
UK-based startup Adamas develops a condition monitoring system for the wind turbine market. This system harnesses AI to analyze vast amounts of data in real time. It learns from historical data and adapts to changing conditions, detecting anomalies and potential issues before escalation. The system optimizes wind energy production by learning from turbine performance patterns. The startup’s digital twin technology represents each wind turbine with a virtual mirror image. This digital twin simulates turbine behavior in real time and facilitates precise monitoring and diagnostics.
Gain Comprehensive Insights into Wind Energy Trends, Startups, or Technologies
The 2024 wind energy industry outlook indicates growth and innovation, suggesting the sector is set for further expansion. Trends such as airborne wind energy systems and improvements in wind generation forecasting are expected to influence future developments, contributing to efficiency and reliability. Get in touch to explore all 1100+ startups and scaleups, as well as all industry trends impacting wind energy companies.
