“Wind Turbine Market Size, Share – Growth, Trends, And Forecast (2018 – 2023)”: Is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data (as applicable). The research analysts provide an elaborate description of the value chain and its distributor analysis. This Market study provides comprehensive data which enhances the understanding, scope and application of this report.
Major Companies Include are:
Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy SA, General Electric Company, Nordex SE, Senvion SA, Hitachi, Ltd., Suzlon Energy Ltd, Enercon GmbH, ABB Ltd., Envision Energy Co. Ltd., Guodian United Power Technology Company Limited, Sinovel Wind Group Company Limited, Xinjiang Goldwind Science & Technology Co. Ltd., among others.
The usage of wind energy as a source of electricity generation has attracted exceptional demand across regions. In 2017, the total wind power installation capacity remained above 50 GW, with Europe and Asia-Pacific regions, witnessing record high. Although most of the wind energy is currently obtained onshore, offshore wind farms are gaining wide popularity as a larger resource area with low environmental impact, which in turn, is expected to significantly increase the demand for the wind turbine, during the forecast period, 2018-2023. On the flip side, the price drops for wind energy is expected to have an adverse effect on the profits margin for the entire supply chain of the wind turbine market.
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Offshore Wind Farms an Opportunity for Growth
The offshore wind farm industry has progressed significantly since the installation of the first offshore wind farm in 1991, by Elkraft (now DONG Energy) at Vindeby, Denmark. Technological advancements have reduced considerably the associated risks and the cost of electricity generation from offshore wind farms, which in turn, have attracted interests globally. The global installed capacity of offshore wind capacity reached approximately 14,384 megawatts (MW) in 2016. Although, 90% of the all offshore wind installations are in European waters, the governments outside of the European region, such as in the country of China, Japan, South Korea, Taiwan, and the US, have set ambitious targets for the installation of offshore wind farms in their territorial waters. Similar investments are expected to be replicated across other countries as well, during the forecast period, which in turn, is expected to offer enormous potential for growth for the wind turbine manufacturers and suppliers.
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Asia-Pacific to Register High Growth
The Asia-Pacific region is ramping up its wind energy production, to meet up with its growing energy needs and in a bid to limit smog-causing pollution from coal plants and act on climate change. In 2016 China overtook Europe as the world’s largest regional wind market, installing half of all the new wind capacity additions worldwide. Similarly, in India, the wind power capability is expected to be ramped up to 185 GW an eight-fold increase over 15 years from 2015, and to contribute approximately 14% of India’s renewable energy use. Similar huge investments are also expected to be scaled up in countries, such as South Korea and Japan, which would further supplement the demand for wind turbine installation in the region, during the forecast period.
Key Developments in the Wind Turbine Market: –
February 2018: Siemens Gamesa Renewable Energy (SGRE) secured exclusive wind turbine contract for Hornsea – II offshore wind project
February 2018: GE Renewable Energy secured commitments for 2.9 gigawatts (GW) of its variably rated 2.2 MW to 2.5 MW onshore wind turbine with a 127-meter rotor in North America
February 2018: GE Renewables signed agreement with ENGIE to supply 144 of its 2.5-116 turbines for the Umburanas Wind Farm Complex in Brazil.
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Reasons to Buy Wind Turbine Market Report: –
– Current and future Wind Turbine market outlook in the developed and emerging markets
– Analyze various perspectives of the market with the help of Porter’s five forces analysis
– The segment that is expected to dominate the market
– Regions that are expected to witness fastest growth during the forecast period
– Identify the latest developments, market shares, and strategies employed by the major market players
– 3-month analyst support, along with the Market Estimate sheet (in excel).
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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