Vattenfall AB, ABB Limited Profiled in Wind Energy Market 2024 Report - General Electric, Senvion S.A., Doosan Heavy Industries & Construction, Goldwind, Enercon, Nordex SE & More

Based on data compiled by Market Study Report, LLC, this report on ‘Wind Energy Market’ delivers a succinct analysis on industry size, regional growth and revenue forecasts 2017-2024. The report further sheds light on significant challenges and latest growth strategies adopted by manufacturers who are a part of the competitive spectrum of this business domain.

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.

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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. Wind Energy Market will cross USD 170 billion by 2024, according to a new research report.

Key industry players across wind energy market include Geronimo Energy, Tradewind Energy, Inc, EDF Renewable Energy, ReGen Powertech, Vensys Energy, EDP Renewables, Envision Energy, Leitwind, MHI Vestas, Invenergy LLC, Vestas, A2SEA, Vattenfall AB, ABB Limited, General Electric, Senvion S.A., Doosan Heavy Industries & Construction, Goldwind, Enercon, Nordex SE.

Ambitious targets toward capacity addition along with favorable government initiatives including tax rebate will boost the deployment of ≥2 MW capacity systems. The introduction of renewable energy certificates and carbon credit will further complement the business outlook. Many countries including the U.S. and UK are primarily shifting their focus toward the replacement of traditional power generation plants with sustainable energy sources.

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.

Favorable government initiatives including federal & state incentives policies, renewable energy-friendly environmental regulations, and utility support will augment the U.S. wind energy market share. In July 2015, Incentivizing Offshore Wind Power Act was introduced to encourage investments in offshore wind energy by providing critical financial incentives.

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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.

Table of Content:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Wind Energy Industry Insights
Chapter 4. Wind Energy Market, By Axis
Chapter 5. Wind Energy Market, By Connectivity
Chapter 6. Wind Energy Market, By Installation
Chapter 7. Wind Energy Market, By Application
Chapter 8. Wind Energy Market, By Capacity
Chapter 9. Wind Energy Market, By Region
Chapter 10. Company Profiles

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