$4.8bn
$XXX.Xm
16,157
518
$X.Xbn
Wind turbine installation companies have faced dynamic shifts driven by government incentives and evolving technology. State and federal policies, like renewable portfolio standards and tax credits, have upheld installations. These policies have been pivotal amid rising environmental concerns and the constant need for sustainable solutions. The significant capacity added during the pandemic gave installers a major boost as the country needed constant electricity. Revenue has surged at a CAGR of 6.2% through the end of 2024, reaching $4.8 billion, including a 0.1% uptick in 2024 alone. Despite the heightened performance, profit has contracted because of elevated wages.
Industry revenue has grown at a CAGR of 6.2 % over the past five years, to reach an estimated $4.8bn in 2024.
Market size is projected to grow over the next five years.
Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
---|---|---|---|---|
General Electric Company | 1,791.3 | -44.1 | -2.5 | |
Vestas Wind Systems A | 1,004.1 | 103.0 | 10.3 | |
Siemens Gamesa Renewable Energy | 309.7 | -3.9 | -1.3 |
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Industry revenue is measured across several distinct product and services lines, including Assembly and installation, Electrical infrastructure and Transport. Assembly and installation is the largest segment of the Wind Turbine Installation in the US.
Maintenance is the only source of revenue when the construction of new wind farms slows
Industry companies transport, construct and install wind power collection systems, such as turbines, substations and interconnections services. The work performed may include new work, reconstruction, rehabilitation, and ongoing maintenance and repairs.
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NAICS 23821 - Wind Turbine Installation in the US
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Wind power installations have spiked as the need for cleaner energy grows. Turbine prices have dropped over the last decade, making these installations more affordable and dr...
Learn about an industry's products and services, markets and trends in international trade.
Maintenance is crucial for installers when new wind farm construction slows. Turbines face harsh conditions needing frequent repairs and replacements. Critical components lik...
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Wind turbine installers are drawn to the Southeast. The region leads the country in wind power generation because of its favorable financial conditions and robust wind patter...
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Vertical integration is a game-changer for wind turbine installers. By handling both manufacturing and installation, these companies can cut customer costs and customize turb...
Learn about the performance of the top companies in the industry.
The General Electric Company covers every aspect of the wind turbine installation process. The company is vertically integrated which boosts efficiency and streamlines logist...
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
The government’s Infrastructure Investment and Jobs Act and Inflation Reduction Act are pumping significant funds into wind energy, bolstering installation. These acts aim to...
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Turbine installers prefer renting equipment over purchasing it. This choice keeps depreciation costs low while purchases account for nearly half of their revenue. The trend h...
Including values and annual change:
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Key data sources in the US include:
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The market size of the Wind Turbine Installation in the US industry in United States is $4.8bn in 2024.
There are 518 businesses in the Wind Turbine Installation in the US industry in United States, which has grown at a CAGR of 11.9 % between 2019 and 2024.
The market size of the Wind Turbine Installation in the US industry in United States has been growing at a CAGR of 6.2 % between 2019 and 2024.
Over the next five years, the Wind Turbine Installation in the US industry in United States is expected to grow.
The biggest companies operating in the Wind Turbine Installation market in United States are General Electric Company, Vestas Wind Systems A and Siemens Gamesa Renewable Energy
Turbine transport, assembly and installation and Electrical infrastructure services are part of the Wind Turbine Installation in the US industry.
The company holding the most market share in United States is General Electric Company.
The level of competition is high and steady in the Wind Turbine Installation in the US industry in United States.