Europe Wind Energy Market Top Key Players - Vestas , Goldwind , Enercon, Suzlon Group , Siemens , GE Wind , Sinovel

Europe Wind Energy Market has been regarded as the most viable option for future development. Wind energy has improved significantly compared to fossil fuels and nuclear power plants. With much less risk in terms of production methods, lower CO2 emissions and higher costs associated with fossil fuels can be reduced.

The European Union is leading the energy revolution by generating most of the annual electricity generated by wind energy. EU has some of the highest figures for the production and installation of windmills to produce clean and sustainable electricity. But statistics show that the EU will need at least five times as many windmills to produce climate-neutral electricity.

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THE EUROPEAN WIND ENERGY MARKET

The Europe wind energy market has seen steady growth over the past decade, resulting in a 25% increase in overall European power generation. For new windmills installed and manufactured, there was an increase of about 19%.

Spain, Germany, France Top 3 countries with the highest demand for windmills. The main EU countries for wind energy production are:

• Germany: 126,000 GWh
• United Kingdom: 63,468 GWh
• Spain: 54,212 GWh
• France: 34,100 GWh
• Italy: 20,200 GWh
• Sweden: 19,902 GWh

Europe Wind energy market coverage has not reached its limits in Europe, countries like Sweden and the United Kingdom still have much lower wind turbine densities per square meter of area. This indicates that demand is still expected to increase as wind energy emerges as a possible alternative to fossil fuels and nuclear power plants.

COMPETITIVE OUTLOOK

• Chinese companies manufacture and sell more than five times more wind turbines annually than the EU through economies of scale. Wind turbine production costs are much lower in China than in the EU.

• As the competitive dynamics of wind turbine production change, European companies plan to increase production to compete with the low cost of the Chinese market.

• Vestas – 12.9%
• Goldwind – 8.8%
• Enercon – 7.6%
• Suzlon Group – 7.6%
• Siemens – 7.6%
• GE Wind – 7.4%
• Sinovel – 7.2%

RESEARCH AND DEVELOPMENT

• The Europe Wind Energy Market Technology Platform (TPWind) was set up to guide the exploration of Europe for R & D efforts to reduce wind energy production costs and increase process efficiency.

• Suspension of cost reduction efforts includes about 40% from R & D and the remaining 60% in economies of scale. TPWind has made consistent efforts in both of these directions to reduce manufacturing costs.

• In order to achieve a satisfactory level of R & D, research efforts in many European countries need to be properly distributed. Concerns about financing and intellectual property rights have increased, and these multiple countries need to work for the same long-term goals and shared sense of responsibility.

COVID-19 IMPACT ON EUROPE WIND INDUSTRY

• Covid-19 is affecting almost every sector of the European economy. Wind energy manufacturers have experienced challenges in production supply chains and logistics, along with strict guidelines for operations and production under lockdown.

• Covid-19 also brought down power generation demand without impacting the wind energy sector. This is because we continue to establish new farms for a wider range by continuously producing the required amount of electricity. When electricity demand returned to normal in Europe, wind energy provided 24% of Europe's total electricity.

COMPANIES PROFILED
• Vestas
• Goldwind
• Enercon
• Suzlon Group
• Siemens
• GE Wind
• Sinovel

Read More Information: https://mobilityforesights.com/product/europe-wind-energy-market/

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