Going green: Rising fossil fuel prices and new wind projects will benefit the industry

Installed wind power capacity in Canada has grown substantially over the past five years, due to federal and provincial government incentives designed to reduce greenhouse gases and promote clean energy. However, the Canadian Wind Turbine Manufacturing industry contracted significantly over the five years to 2018. Industry revenue has trailed behind the spike in Canadian wind turbine installations during this period, as turbine prices dropped substantially due to increased competition, improved efficiency and slowing demand from vital global markets, such as China...read more.

Industry Statistics & Market Size
Revenue
$896m
Annual Growth 13-18
-25.4%
Forecast Growth 18-23
Profit
Employment
3,262
Businesses
78

Industry Threats & Opportunities

  • Increased competition and slowing demand from vital global markets have hindered industry revenue
  • Manufacturers must employ engineers, knowledgeable salespeople and skilled maintenance professionals
  • Ontario’s Long-Term Energy Plan will continue to propel demand for wind turbines
  • Industry Report - Industry Analysis Chapter

    The Wind Turbine Manufacturing industry in Canada produces wind turbines, blades, towers, generators and other related components. Installed wind capacity in Canada has increased strongly during the past decade, benefiting from Canada’s commitment to reducing greenhouse gas emissions and promoting alternative forms of energy. This push toward renewable energy sources led to numerous incentives, including tax reductions and government subsidies, which helped generate the substantial investment needed to finance large wind power projects...purchase to read more.

    Additional Insights for the Wind Turbine Manufacturing Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Wind Turbine Manufacturing Industry are

  • Ability to quickly adopt new technology
  • Access to secure revenues
  • Effective quality control
  • IBISWorld analysts also discuss how external factors such as Electric power consumption and Canadian-dollar effective exchange rate index in the Wind Turbine Manufacturing industry impact industry performance..

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    What's in this report

    What is the Wind Turbine Manufacturing Industry?

    This industry researches, develops and manufactures wind turbines for various uses such as residential, industrial and commercial.

    Industry Products
  • Nacelles
  • Rotors
  • Towers and foundations
  • Electronic infrastructure and components
  • Engineering, on-site development and other services
  • Industry Activities
  • Manufacturing wind turbine nacelles
  • Manufacturing wind turbine blades
  • Manufacturing wind turbine towers
  • Manufacturing wind turbine components
  • Wind turbine repair and maintenance
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Electric power consumption
  • Canadian-dollar effective exchange rate index
  • Overnight rate
  • World price of natural gas

  • Current Performance
  • Initiatives and incentives provide basis for industry demand
  • Lower fossil fuel prices and competition cause declines
  • Chart: Revenue Growth

  • Industry Outlook
  • Initiatives propel industry growth
  • Incentives boost industry revenue
  • New innovations
  • Table: Wind Turbine Manufacturing Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Wind Turbine Manufacturing Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Agriculture, Forestry, Fishing and Hunting In Canada
  • Electric Power Transmission in Canada
  • Renewable Power in Canada
  • Consumers in Canada

  • Key Selling Industries
  • Aluminum Manufacturing in Canada
  • Engine & Turbine Manufacturing in Canada
  • Iron & Steel Manufacturing in Canada
  • Metal Stamping & Forging in Canada
  • Semiconductor & Other Electronic Component Manufacturing in Canada
  • Steel Rolling & Drawing in Canada

  • Products & Services
  • Nacelles
  • Towers and foundations
  • Rotors
  • Engineering, on-site development and other services
  • Electronic infrastructure and components
  • Chart: Wind Turbine Manufacturing Industry Products and Services Segmentation

  • Demand Determinants
  • Government spending, initiatives and subsidies
  • Price of traditional and alternative forms of power
  • Population

  • Major Markets
  • Exports
  • Independent power producers and private utilities
  • Public utilities
  • Businesses, households and other electricity producers
  • Chart: Major Market Segmentation for the Wind Turbine Manufacturing Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesWagesRent and utilities, depreciation and marketingOther
  • Chart: Cost Structure Benchmarking – Sector vs Wind Turbine Manufacturing

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Wind Turbine Manufacturing Industry

  • Industry Globalization
    Senvion Canada Inc., Siemens Gamesa Renewable Energy, General Electric, Enercon Canada Inc.,
  • Table: Senvion Canada Inc. - financial performance
  • Table: Siemens Gamesa Renewable Energy - financial performance
  • Table: General Electric - financial performance
  • Table: Enercon Canada Inc. - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Wind Turbine Manufacturing Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Wind Turbine Manufacturing Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Exports (2009-2023)
  • Imports (2009-2023)
  • Wages (2009-2023)
  • Electric power consumption (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Kilowatt Hour
  • A unit of energy measurement, equal to one kilowatt expended over one hour.
  • Ontario's Feed-In-Tariff (Fit)
  • This program offers guaranteed pricing structures to cover the cost alternative energy projects enabling a reasonable return on investment over a standardized period or term.
  • Renewables
  • All types of renewable energy, such as solar, wind, hydro- and geothermal power.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Wind Turbine Manufacturing market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Wind Turbine Manufacturing:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Wind Turbine Manufacturing market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Wind Turbine Manufacturing, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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