Global Wind Energy Technology Market Overview:
Wind Energy is the process of harnessing the wind to generate mechanical power or electricity. Wind turbines harness the kinetic energy of the wind and convert it into mechanical power. This mechanical power can be used for specific tasks (for example, grinding grain or pumping water) or converted into electricity by a generator. Wind energy is a renowned, clean energy source with a lesser impact on the environment than fossil energy. Wind farms are made up of many individual wind turbines that are linked to an electric power transmission network. A wind plant is typically composed of a large number of wind turbines built close together to form a utility-scale source of wind energy.
- Rising Concern towards Growing Carbon Footprint
- Increase in Demand for Renewable Energy
- Rising Investment in Clean Energy Sector
- Increasing Fossil Fuel Prices
- Wind Turbine May Cause Noise Pollution
- Remote Wind Energy Projects may hamper the Market Growth
The demand for Wind Energy Technology is increasing. The industry is segmented, but it is predicted to grow as rise in fossil fuel prices and stringent government regulations, among other factors, drive the market forward. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position.
Some of the key players profiled in the report are General Electric (United States), Siemens (Germany), Suzlon Energy Limited (India), Vestas (Denmark), Goldwind (China), Ameren (United States), Envision Energy (China), Enercon (Germany), Prysmian Group (Italy), Sinovel (China), EDF (France) and Duke Energy (United States). Additionally, following companies can also be profiled that are part of our coverage like Doosan Heavy Industries & Construction (South Korea). Analyst at AMA Research see China Manufacturers to retain maximum share of Global Wind Energy Technology market by 2026. Considering Market by Installation Type, the sub-segment i.e. Offshore Wind will boost the Wind Energy Technology market. Considering Market by Capacity, the sub-segment i.e. <10 kW will boost the Wind Energy Technology market. Considering Market by Component, the sub-segment i.e. Turbine will boost the Wind Energy Technology market. Considering Market by End-User, the sub-segment i.e. Residential will boost the Wind Energy Technology market.
In February 2021 Vestas had announced the launch of Offshore Platform V236-15.0 MW. The new technology lays a solid foundation for Vestas' offshore leadership journey by raising the industry benchmark for performance and continued cost reduction in offshore technology, allowing Vestas to compete in offshore tenders as early as 2021.
What Can be Explored with the Wind Energy Technology Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Wind Energy Technology Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Wind Energy Technology
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Wind Energy Technology market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Wind Energy Technology market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Agriculture, Telecommunication, Healthcare and End-use industries.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global Wind Energy Technology Market?
The Wind Energy Technology market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in Wind Energy Technology Market?
Top performing companies in the Global Wind Energy Technology market are General Electric (United States), Siemens (Germany), Suzlon Energy Limited (India), Vestas (Denmark), Goldwind (China), Ameren (United States), Envision Energy (China), Enercon (Germany), Prysmian Group (Italy), Sinovel (China), EDF (France) and Duke Energy (United States), to name a few.
3. What trending factors would impact Wind Energy Technology Market growth most?
"Emergence of Vorticity Technology
" is seen as one of major influencing trends for Wind Energy Technology Market during projected period 2020-2026.