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Wind Energy Market | Key players in the industry include Vestas, GE, Goldwind, Gamesa, Enercon, Nordex, Envision, Mingyang, Senvion, Alstom, ABO-Wind, NextEra Energy

09-12-2018 08:40 AM CET | Energy & Environment

Press release from: Global Market Insights, Inc.

Wind Energy Market

Wind Energy Market

Growing demand for reliable, cost effective and environment friendly generation systems along with strict government norms to reduce GHG emissions will augment the wind energy market. In 2016, government of UK announced the target to reduce GHG emissions up to 58% by 2030 from 1990 levels.

Increasing funding from leading financial institutions including the Green Investment Bank, International Finance Corporation and the World Bank will thrust the wind energy market growth. Furthermore, the technology across the globe has witnessed significant proliferation subject to small-scale funding initiatives from domestic public entities. As of August 2017, Green Investment Bank has allocated USD 4.4 billion for projects toward offshore and onshore renewables, energy efficiency and bioenergy.

Increasing electricity demand along with growing awareness towards sustainable energy will positively impact the China wind energy market share. As per Chinese Wind Energy Association, in 2015, 40 GW of wind power projects were approved, and a total of 115 GW is expected to be added between 2016 and 2020, accounting for a total capacity up to 260 GW.

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Residential wind energy market is predicted to witness significant growth owing to its wide applications across service and residential buildings. Increasing demand for distributed energy systems across residential sector will boost the business landscape. As per the U.S. Department of Energy, distributed energy systems are feasible for approximately 49 million industrial, commercial, or residential sites which, is equals to more than 42% of the U.S. buildings.

The rapidly depleting fossil fuels have led to renewable sources emerging as the savior in global energy industry. Wind energy market, one of the most prominent and pivotal verticals of the energy cosmos, in consequence, is turning out to be a lucrative space for investors, given that the massive climate change crisis has further galvanized the demand for clean and renewable energy. The increasing awareness regarding global warming and the fast depletion of non-renewable energy sources have led to paradigm shift toward sustainability – a trend that has led to wind energy industry capturing substantial attention on a global scale. Say for instance, The Ministry of New and Renewable Energy of India passed a policy in 2016 that will repower wind power turbines with a capacity of 1 MW or below. In France, the target for renewable power capacity has been set at 70 GW by 2023, which includes 23 GW from onshore wind turbines. These instances testify the stand taken by regional governments toward developing and facilitating renewable power resource infrastructure, which indeed is a major impetus for wind energy market expansion.

Wind energy being a clean, cost-free, and pollution-free source of energy, is being rapidly exploited across the energy sector. Though the source of the energy is free, the turbine installation and energy conversion and commercial deployment demand quite some expense, on the grounds of which many governments have been offering tax incentives to wind energy market firms. It is noteworthy to know however, that lately, mass production and advancement in technologies is making wind turbines cheaper, further spurring the wind energy industry.

Offshore wind energy market is predicted to reach over 13 GW of annual installation by 2024. The Government directives toward energy efficiency along with huge untapped potential will boost the product penetration. In 2017, Horizon 2020 sponsored USD 17.83 million to European Commission project towards reduction of operation and maintenance costs of offshore through integration of advanced monitoring technologies for turbines.

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Report Content

Chapter 1. Methodology and Scope

1.1. Methodology

1.1.1. Initial data exploration

1.1.2. Statistical model and forecast

1.1.3. Industry insights and validation

1.1.4. Market definition and forecast parameters

1.2. Data sources

1.2.1. Primary

1.2.2. Secondary

Chapter 2. Executive Summary

2.1. Wind energy industry 3600 synopsis, 2013 – 2024

2.1.1. Business trends

2.1.2. Axis trends

2.1.3. Connectivity trends

2.1.4. Installation trends

2.1.5. Application trends

2.1.6. Capacity trends

2.1.7. Regional trends

Chapter 3. Wind Energy Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 – 2024

3.3. Industry ecosystem analysis

3.3.1. Vendor matrix

3.4. Innovation & sustainability

3.5. Regulatory landscape

3.5.1. U.S.

3.5.2. Europe

3.5.3. UK

3.5.4. Germany

3.5.5. China

3.6. Cost structure analysis

3.6.1. Capital cost (CAPEX) (Offshore)

3.6.2. Operational cost (OPEX) (Offshore)

3.6.3. Capital cost (CAPEX) (Onshore)

3.7. Global wind capacity addition targets

3.8. Wind energy industry trends and outlook

3.8.1. Cumulative Wind Energy Capacity (December 2016)

3.8.2. New Installed Wind Energy Capacity (December 2016)

3.9. Comparative analysis

3.9.1. Offshore wind & onshore wind

3.9.2. Horizontal axis turbine & vertical axis turbine

3.10. Industry impact forces

About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research

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Global Market Insights, Inc.
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