$70 billon opportunity for Wind Turbine Market 2024: Vestas, ENERCON, GE, Siemens Gamesa, Senvion, Goldwind, MHI Vestas Offshore Wind, Suzlon Group, Envision Energy, Wobben Windpower, Clipper Windpower, IMPSA, Northern Power System

Global Wind Turbine Market share is driven by rising energy demand from private wind farm projects and utility aided sustainable establishments. The major concern for industrial participants and utilities is to maintain a balance between the demand and supply of these units which in turn has intensified investments toward the improvement of renewable power generation technologies. Wind Turbine Market share will exceed USD 70 billion by 2024.

Europe wind turbine market is anticipated to witness an annual installation of over 20 GW by 2024. Low carbon emission, cost efficiency when compared to non-renewable energy sources and sustainable generation tariffs are few key parameters influencing the adoption of these technologies. Europe, in 2017, installed 16.8 GW additional wind power capacity, with 12,484 MW from onshore and 3,154 MW from offshore deployments.

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Ability to produce power in turbulent conditions coupled with easy operational activities and low maintenance costs are some of the essential features reforming the horizontal axis wind turbine market share. In addition, effective feasibility across residential applications with low rated capacity observed by positive consumer outlook will nourish the vertical axis unit deployments.

Capability to produce electricity in volatile weather conditions along with low maintenance costs and ease in operational activities are some of the important features restructuring the horizontal axis unit deployment. Furthermore, effective feasibility in residential applications with lower capacity rating observed by encouraging consumer outlook will enhance the vertical axis wind turbine market share.

Rising R&D investment toward technologies based on wind power coupled with growing adoption of large capacity plants will significantly affect the overall product cost. Increasing industrial competition have rendered considerable decrease in the costs of rotor modules along with volume manufacturing & their operational effectiveness. Inclination toward enhanced tower length & blade size to integrate effective resource operation will further augment the global wind turbine market share.

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Adoption of technologies pertaining to distributed generation across aging energy applications will fuel the > 2 MW wind turbine market share. Improved efficiency, cost competitiveness, low emissions favored by enhanced technological proximity are few significant parameters driving the adoption of these units. Furthermore, the current technological development including enhanced efficiency and flexibility of recuperated and un-recuperated units will further sway the industry outlook.

Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:

1. Vestas
2. Enercon
3. General Electric
4. Siemens Gamesa
5. Nordex Acciona
6. Senvion
7. Goldwind
8. MHI-Vestas
9. United Power
10. Suzlon
11. Envision Energy
12. Wobben
13. Mingyang
14. WEG SA
15. Clipper
16. Impsa
17. LM Windpower
18. Bergey
19. Northern Power Systems
20. Enessere

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The stand-alone product portfolio is predicted to grow pertaining to economic feasibility and ease in operations in distant areas when compared to the on-grid power networks. Various government incentives and programs including rural electrification along with growing acceptance of microgrid electrical networks will further complement the business outlook. Lesser installation costs coupled with governmental reforms & schemes including FiT and net metering will stimulate the on-grid wind turbine market share. Swift expansion of utility-based electricity infrastructure to cater the rising electricity demand from residential & industrial areas will further strengthen the industry landscape.

Offshore deployments are predicted to surpass USD 16 Billion by 2024. Long term integration targets along with positive regulatory inclination will drive the global wind turbine market dynamics. Cost effectivity and higher operational efficiency are some of the imperative parameters which will positively influence the industry growth. Improved plant performance statistics in comparison to the available counterparts will further sway the technological demand.

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