
4 key trends for wind energy businesses in 2023
Source: MAERSK Currently battling the aftermath of a global pandemic, the increasing cost of energy, a cyclical unavailability of raw materials, and a high level of inflation, the wind energy industry is struggling, but not losing power. When looking into the forecasted performance for the sector, Grand View Research states that “the global wind power market size was valued at “99.28 billion USD in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.5% from 2022 to 2030”. This confirms that wind power, onshore and offshore, has tremendous potential for greater future development. When looking into the data, the challenge seems to be that what is normal today wasn’t normal two years ago for this industry, which is characterized by constant change, fast innovation, and unpredictable politics. While the sector is seeing a contraction in Europe (with Germany pledging for a rapid expansion), the amount of electricity generated by the wind sector globally increased by almost 273 terawatt hours (TWh) in 2021 (up 17%), a growth higher than all other power generation technologies. The biggest contribution was brought in by China, responsible for almost 70% of wind generation growth in 2021, followed by the United States at 14% (where the sector supported over






















