Wind turbine market size will surpass USD 70 Billion by 2024 Prominent players in the market include Enercon, Vestas, General Electric, Nordex Acciona, Siemens Gamesa, Senvion, MHI-Vestas, Goldwind, United Power, Clipper, Bergey, LM Windpower, Enessere, a
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The establishment of a regulatory frame of reference has also proved useful for the proprietors of this business space, who incidentally comply with the mandated norms to brainstorm a slew of advanced products and strive to increase the dependency on wind energy. The rapidly increasing rate of wind turbine installations installation of wind energy plants across the globe is thus slated to boost overall wind energy turbine industry share.
Taking into account the widespread expanse of this vertical, prominent contenders has been adopting tried-and-tested as well as unique growth strategies to contribute toward carbon emission reduction. Say for example, recently, in order to consolidate its presence in the green energy industry, GE Renewable Energy Business acquired the WMC test facility center based in Netherlands. At this facility, GE will test wind turbine rotor hubs and provide the research facilities to other wind turbine firms in Netherlands and other European countries.
Wind turbine market research report includes in-depth coverage of the industry with estimates & forecast in terms of MW and USD from 2013 to 2024, for the following segments:
Wind Turbine Industry, By Axis
• Horizontal (HAWTs)
• Down wind
• Vertical (VAWTs)
Wind Turbine Industry, By Installation
Wind Turbine Industry, By Connectivity
• Grid connected
• Stand alone
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Growing investment toward effective R&D of wind-based power technologies along with rising acceptance of large capacity projects will extensively influence the overall product price. Rising industrial contention has rendered substantial decrease in the prices of rotor modules in line with operational effectiveness & volume manufacturing. Disposition toward improved blade size & tower length to integrate efficient resource operation will positively impact the global market dynamics.
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.
The off-grid wind turbine market is anticipated to grow pertaining to operative & economic feasibility in distant areas in comparison to the grid connected power networks. Governmental schemes pertaining to the rural electrification program coupled with growing adoption of microgrid power networks will further enhance the business growth.
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Low installation cost along with government schemes & incentives including net metering and FiT will boost the on-grid product demand. Rapid development of utility-based electricity deployments to cater growing energy demand across industrial & residential areas will further stimulate the industry growth.
The offshore wind turbine market is anticipated to value over USD 16 Billion by 2024. Positive regulatory inclination coupled with long term integration targets will drive the global industry dynamics. Higher efficiency and cost effectiveness are some of the essential parameters which will complement the industry dynamics. Improved operating activity statistics when compared to its counterparts will further enhance the technological demand.
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