Wind Power Market Scenario Analysis, Trends, Drivers, and Impact Analysis 2031

𝐂𝐡𝐢𝐧𝐚 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐖𝐢𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐈𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐭𝐢𝐨𝐧

Transparency Market Research delivers key insights on the wind power market in China and across the globe. In terms of revenue, the China and global wind power market is estimated to expand at a CAGR of ~10% 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.

𝐆𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.transparencymarketresearch.com/wind-power-market.html

𝐂𝐡𝐢𝐧𝐚 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐖𝐢𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐃𝐲𝐧𝐚𝐦𝐢𝐜𝐬

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.

𝐆𝐞𝐭 𝐏𝐃𝐅 𝐬𝐚𝐦𝐩𝐥𝐞 𝐟𝐨𝐫 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐢𝐚𝐥 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 𝐚𝐧𝐝 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐈𝐧𝐭𝐞𝐥𝐥𝐢𝐠𝐞𝐧𝐜𝐞: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=2163 

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.

𝐂𝐡𝐢𝐧𝐚 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐖𝐢𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐑𝐞𝐠𝐢𝐨𝐧𝐬

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 in 2020; of this, 13.86% 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, approximately 27% of electricity was generated by wind energy in Germany, with onshore delivering 103 terawatt hours (TWh) during 2020 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 in 2020. According to the Global Wind Energy Council (GWEC), total wind power capacity of North America stood at 136 GW in 2020. The total wind power capacity of Latin America stood at 34 GW in 2020.

Brazil dominated the market in Latin America with installation of nearly 2.3 GW capacity in 2020. North America and Latin America increased their wind power installation capacity by 62% in 2020. This helped curb around 250 million tons of carbon dioxide emission annually.

𝐆𝐞𝐭 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐛𝐞𝐟𝐨𝐫𝐞 𝐛𝐮𝐲𝐢𝐧𝐠: https://www.transparencymarketresearch.com/sample/sample.php?flag=EB&rep_id=2163 

𝐂𝐡𝐢𝐧𝐚 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐖𝐢𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

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.

𝐂𝐡𝐢𝐧𝐚 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐖𝐢𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭: 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧

𝐂𝐡𝐢𝐧𝐚 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐖𝐢𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐛𝐲 𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭

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

𝐂𝐡𝐢𝐧𝐚 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐖𝐢𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐛𝐲 𝐋𝐨𝐜𝐚𝐭𝐢𝐨𝐧

Onshore

Offshore

𝐂𝐥𝐢𝐜𝐤 𝐅𝐨𝐫 𝐂𝐮𝐬𝐭𝐨𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=2163 

𝐂𝐡𝐢𝐧𝐚 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥 𝐖𝐢𝐧𝐝 𝐏𝐨𝐰𝐞𝐫 𝐌𝐚𝐫𝐤𝐞𝐭, 𝐛𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧

Utility

Industrial

Residential & Commercial

𝐀𝐛𝐨𝐮𝐭 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡
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.

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𝐑𝐨𝐡𝐢𝐭 𝐁𝐡𝐢𝐬𝐞𝐲

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