Scope of the Study
Over the past couple of decades due to increasing industrialization and commercialization has increased fossil fuel consumption, and since the global non-renewable energy source consumption has been robustly increased, this has led to promote and encourage the uses of renewable energy source such as wind energy solar energy and many others. In addition to this, the robustly increasing prices of fossil fuels will also escalate the demand for wind turbines. Moreover, increasing government reimbursements will further improve wind turbine business growth over the forecasted period.
The market study is being classified, by Application (Industrial, Power Generation, Telecommunication, Agriculture, Commercial and Residential) and major geographies with country level break-up. According to AMA, the Global Wind Turbine market is expected to see growth rate of 7.11% and may see market size of USD144170.09 Million by 2024.
Goldwind (China), Leitwind (Italy), Nordex SE (Germany), Senvion S.A. (Germany), Siemens Wind Power and Renewables (Germany), Vestas Wind Systems A/S (Denmark), Suzlon Energy Ltd. (India), Enercon GmbH (Germany), GE Renewable Energy (France) and GE Wind Energy GmbH (Germany) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are Sinovel Wind Group Company (China), China Ming Yang Wind Power Group Limited (China), Siemens Gamesa Renewable Energy S.A. (Spain) and Guodian United Power Technology Company Ltd. (China).
Research Analyst at AMA predicts that European Manufacturers will contribute to the maximum growth of Global Wind Turbine market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Wind Turbine market by Type, Application and Region.
On the basis of geography, the market of Wind Turbine has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, Spain, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Capicity, the sub-segment i.e. <30 kW will boost the Wind Turbine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Connectivity, the sub-segment i.e. On-Grid will boost the Wind Turbine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Electrical Infrastructure, the sub-segment i.e. Wires & Cables will boost the Wind Turbine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Wind Farm Type, the sub-segment i.e. Onshore will boost the Wind Turbine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Support Structure, the sub-segment i.e. Substructure-Steel will boost the Wind Turbine market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Need for the Adoption of Renewable Energy Sources
- Increasing Government Reimbursements in Renewable Energy Source Establishments
- Escalating Global Energy Consumption
- Average Wind Turbine Capacity, Rotor Diameter, and Hub Height Increased in the Last couple of Years
- Upsurging Investments in Maximizing COst Efficiency of the Wind Power Projects
- Highly Capital Extensive Project Requires Huge Investments
- Volatility in Average Wind Speeds across the Globe
- Increasing Awareness about Renewable Energy Sources
- Continues Increase in the Fossil Fuel Prices
- Remotely Located Wind Power Projects are Far from Cities where the ELectricity is going to be Consumed
- Turbines might Cause Noise and Aesthetic Pollution
On August 8, 2017, "Goldwind Americas", a wholly-owned subsidiary of Xinjiang Goldwind Science & Technology Co., Ltd., (Goldwind) has signed agreements to supply One Energy Enterprises LLC with a total of 60 megawatts (MW) of Goldwind turbines for various distributed generation wind energy projects as part of One Energy’s innovative Wind for Industry model. As part of the framework agreement, a firm order of 20 GW 87/1500 turbines is scheduled for immediate delivery. The financing for One Energy’s projects is being provided by Prudential Capital Group (link is external) as part of a combined senior and subordinated debt facility.
In February 2011 the Government of United States has enacted legislation (S.B. 212) stating that wind dependent energy devices located on a pier within 500 feet of the mean high water line of tidal waters may not be prohibited. Facilities must meet other applicable laws and regulations and be an accessory use to other uses or purposes of the pier. The New Jersey Department of Environmental Protection has adopted amendments to the administrative rules governing energy facilities in coastal zones to effectuate this law. The current rules, which have been adopted and re-adopted as special amendments, are set to expire May 29, 2020.
Key Target Audience
Wind Turbine Manufacturers, Wind Turbine Distributors and Traders, Wind Energy Industry Associations, Research and Development Institutes, Government Agencies, Renewable Energy Providers and Others
Customization in the Report Available:
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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