Press release
Wind Power Market Scenario Analysis, Trends, Drivers, and Impact Analysis 2031
Transparency Market Research delivers key insights on theย wind power marketย in China and across the globe. In terms of revenue, the China and global wind power market is estimated to expand at a CAGR ofย ~10%ย during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the China and global wind power market.
Rise in demand for electricity and continuous technological advancements regarding parts used in wind turbines are creating lucrative opportunities for the wind power market in China and across the globe. Governmental initiatives for achieving subsidy-free grid price parity for wind power are anticipated to boost the China and global wind power market in the near future.
๐๐๐ญ ๐๐๐ฉ๐จ๐ซ๐ญ ๐๐ฏ๐๐ซ๐ฏ๐ข๐๐ฐ:ย https://www.transparencymarketresearch.com/wind-power-market.html
๐๐ก๐ข๐ง๐ ๐๐ง๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐ง๐ ๐๐จ๐ฐ๐๐ซ ๐๐๐ซ๐ค๐๐ญ: ๐๐ฒ๐ง๐๐ฆ๐ข๐๐ฌ
Technological innovations with respect to design of wind turbine materials such as glass composites are expected to drive the China and global wind power market during the forecast period. Smaller components made of modern glass composites are cheaper, and easy to transport and assemble. Furthermore, these components are easy to install and repair. This reduces the installation and maintenance costs. Currently, majority of wind turbines installed are not digital. Upgrading these turbines through the connection of computing devices (such as sensor technology, integrating intelligent monitoring, and optimization algorithms) enables turbines to send and receive data.
The monitoring of wind turbine operations is a cumbersome process owing to the complex geometry of equipment consisting of large number of actuators, integrating strain gauges, etc. With the help of these computing devices, an individual can constantly monitor the data of functioning of a wind turbine and achieve greater efficiency from wind turbine operations. As technology evolves, wind turbines can adapt to more sophisticated operations. For instance, bandwidth upgrade from 4G to 5G has helped an asset owner of offshore wind turbine to access the data much faster from a geographically far location. The usage of drones for condition monitoring of offshore wind turbines is another example of technological advancement.
๐๐๐ญ ๐๐๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐๐จ๐ซ ๐๐ง๐๐ฎ๐ฌ๐ญ๐ซ๐ข๐๐ฅ ๐๐ง๐ฌ๐ข๐ ๐ก๐ญ๐ฌ ๐๐ง๐ ๐๐ฎ๐ฌ๐ข๐ง๐๐ฌ๐ฌ ๐๐ง๐ญ๐๐ฅ๐ฅ๐ข๐ ๐๐ง๐๐:ย https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2163ย
Many companies are now focusing on installation of wind turbines at offshore locations, as offshore wind turbines utilize wind resources more efficiently than onshore wind turbines. Longer wait times are required in correcting any issue that occurs in functioning of offshore wind turbines, as the operator has limited access to offshore wind turbines. Drones, without any need of pilot, help take photos of the offshore wind turbine remotely. Stitching these images together enables identification of any maintenance issue at an early stage. Thus, higher demand for electricity from sustainable sources and continuous technological advancements in wind turbines are estimated to drive the China and global wind power market in the near future.
๐๐ก๐ข๐ง๐ ๐๐ง๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐ง๐ ๐๐จ๐ฐ๐๐ซ ๐๐๐ซ๐ค๐๐ญ: ๐๐ซ๐จ๐ฆ๐ข๐ง๐๐ง๐ญ ๐๐๐ ๐ข๐จ๐ง๐ฌ
China is projected to dominate the wind power market in Asia Pacific during the forecast period. According to the International Renewable Energy Agency, total renewable electricity generation in Asia Pacific stood at 466.5 Twh inย 2020; of this,ย 13.86%ย of electricity is generated by wind energy source in China. The rise in the production capacity of wind energy in Asia Pacific can be ascribed to an increase in investment in the wind power market. Governments of countries such as India and Japan are investing substantially in the production of sources of renewable energy such as solar and wind.
Germany is likely to dominate the wind power market in Europe during the forecast period. According to trade group, Wind Europe, approximatelyย 27%ย of electricity was generated by wind energy in Germany, with onshore delivering 103 terawatt hours (TWh) duringย 2020ย and offshore providing 27 TWh in the same year. The U.S. dominated the wind power market in North America by installing nearly 17 GW new capacity inย 2020. According to the Global Wind Energy Council (GWEC), total wind power capacity of North America stood at 136 GW inย 2020. The total wind power capacity of Latin America stood at 34 GW inย 2020.
Brazil dominated the market in Latin America with installation of nearly 2.3 GW capacity inย 2020. North America and Latin America increased their wind power installation capacity byย 62%ย inย 2020. This helped curb aroundย 250ย million tons of carbon dioxide emission annually.
๐๐๐ญ ๐๐ง๐ช๐ฎ๐ข๐ซ๐ฒ ๐๐๐๐จ๐ซ๐ ๐๐ฎ๐ฒ๐ข๐ง๐ :ย https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=2163ย
๐๐ก๐ข๐ง๐ ๐๐ง๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐ง๐ ๐๐จ๐ฐ๐๐ซ ๐๐๐ซ๐ค๐๐ญ: ๐๐๐ฒ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ
Key players operating in the China and global wind power market are HZ Windpower NA, GOLDWIND, Sinovel Wind Group Co., Ltd., Mingyang Smart Energy, ENVISION GROUP, Vestas, Siemens Gamesa Renewable Energy, Suzlon Energy Limited, GENERAL ELECTRIC, Dongfang Electric Co. Ltd. and CRRC Corporation Limited.
๐๐ก๐ข๐ง๐ ๐๐ง๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐ง๐ ๐๐จ๐ฐ๐๐ซ ๐๐๐ซ๐ค๐๐ญ: ๐๐๐ ๐ฆ๐๐ง๐ญ๐๐ญ๐ข๐จ๐ง
๐๐ก๐ข๐ง๐ ๐๐ง๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐ง๐ ๐๐จ๐ฐ๐๐ซ ๐๐๐ซ๐ค๐๐ญ, ๐๐ฒ ๐๐จ๐ฆ๐ฉ๐จ๐ง๐๐ง๐ญ
Turbine
Up to 03 MW
03 MW - 06 MW
Above 06 MW
Blade
58 Meters
67 Meters
74 Meters
108 Meters
Others
Tower
100 Meters
125 Meters
140 Meters
Others
Nacelle
Up to 03 MW
03 MW - 06 MW
Above 06 MW
๐๐ก๐ข๐ง๐ ๐๐ง๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐ง๐ ๐๐จ๐ฐ๐๐ซ ๐๐๐ซ๐ค๐๐ญ, ๐๐ฒ ๐๐จ๐๐๐ญ๐ข๐จ๐ง
Onshore
Offshore
๐๐ฅ๐ข๐๐ค ๐ ๐จ๐ซ ๐๐ฎ๐ฌ๐ญ๐จ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ:ย https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=2163ย
๐๐ก๐ข๐ง๐ ๐๐ง๐ ๐๐ฅ๐จ๐๐๐ฅ ๐๐ข๐ง๐ ๐๐จ๐ฐ๐๐ซ ๐๐๐ซ๐ค๐๐ญ, ๐๐ฒ ๐๐ฉ๐ฉ๐ฅ๐ข๐๐๐ญ๐ข๐จ๐ง
Utility
Industrial
Residential & Commercial
๐๐๐จ๐ฎ๐ญ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ
๐๐จ๐ก๐ข๐ญ ๐๐ก๐ข๐ฌ๐๐ฒ
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