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Wind Energy - Market Size, Growth Forecast 2020 to 2025

A detailed overview of Wind Energy market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Wind Energy market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.

Growing demand for reliable, cost effective and environment friendly generation systems along with strict government norms to reduce GHG emissions will augment the wind energy market. In 2016, government of UK announced the target to reduce GHG emissions up to 58% by 2030 from 1990 levels.

Wind Energy Market will cross USD 170 billion by 2024, according to a new research report.

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Residential wind energy market is predicted to witness significant growth owing to its wide applications across service and residential buildings. Increasing demand for distributed energy systems across residential sector will boost the business landscape. As per the U.S. Department of Energy, distributed energy systems are feasible for approximately 49 million industrial, commercial, or residential sites which, is equals to more than 42% of the U.S. buildings.

Wind Energy - Market Size, Growth Forecast 2020 to 2025
Wind Energy - Market Size, Growth Forecast 2020 to 2025

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Increasing funding from leading financial institutions including the Green Investment Bank, International Finance Corporation and the World Bank will thrust the wind energy market growth. Furthermore, the technology across the globe has witnessed significant proliferation subject to small-scale funding initiatives from domestic public entities. As of August 2017, Green Investment Bank has allocated USD 4.4 billion for projects toward offshore and onshore renewables, energy efficiency and bioenergy.

Increasing electricity demand along with growing awareness towards sustainable energy will positively impact the China wind energy market share. As per Chinese Wind Energy Association, in 2015, 40 GW of wind power projects were approved, and a total of 115 GW is expected to be added between 2016 and 2020, accounting for a total capacity up to 260 GW.

Ambitious targets toward capacity addition along with favorable government initiatives including tax rebate will boost the deployment of ≥2 MW capacity systems. The introduction of renewable energy certificates and carbon credit will further complement the business outlook. Many countries including the U.S. and UK are primarily shifting their focus toward the replacement of traditional power generation plants with sustainable energy sources.

Favorable government initiatives including federal & state incentives policies, renewable energy-friendly environmental regulations, and utility support will augment the U.S. wind energy market share. In July 2015, Incentivizing Offshore Wind Power Act was introduced to encourage investments in offshore wind energy by providing critical financial incentives.

Offshore wind energy market is predicted to reach over 13 GW of annual installation by 2024. The Government directives toward energy efficiency along with huge untapped potential will boost the product penetration. In 2017, Horizon 2020 sponsored USD 17.83 million to European Commission project towards reduction of operation and maintenance costs of offshore through integration of advanced monitoring technologies for turbines.

Rapid Industrialization coupled with growing awareness towards sustainable energy mix will drive Turkey wind energy market. Limited availability of oil & gas reserves seeks country to improve its energy security by renewable energy sources. The Turkish Wind Energy Association aims to achieve 10 GW of installation by 2020.

Key industry players across wind energy market include Vestas, ABB Limited, General Electric, Siemens Gamesa Renewable Energy, Nordex, Enercon, Suzlon, Doosan Heavy Industries & Construction, Senvion, and Vattenfall.

Wind energy market research report includes in-depth coverage of the industry with estimates & forecast in terms of MW and USD from 2013 to 2024, for the following segments:

Wind Energy Market, By Axis

Horizontal Axis

Vertical Axis

Wind Energy Market, By Connectivity

On-grid

Off-grid

Wind Energy Market, By Installation

Onshore

Offshore

Wind Energy Market, By Application

Utility

Industrial

Commercial

Residential

Wind Energy Market, By Capacity

<30 kW

30 kW < 500 kW

500 kW < 2 MW

≥2 MW

Major Highlights from Table of contents are listed below for quick lookup into Wind Energy Market report

Chapter 1. Methodology and Scope

  • Definitions & forecast parameters
  • Methodology and forecast parameters
  • Data Sources

Chapter 2. Executive Summary

  • Business trends of Wind Energy Market
  • Product trends
  • Application trends

Chapter 3. Wind Energy Industry Insights

  • Wind Energy Market Industry segmentation
  • Industry landscape
  • Analysis of Manufacturers in the Wind Energy industry
  • Distribution channel analysis
  • End-use landscape
  • Vendor matrix
  • Wind Energy Market Technology & innovation landscape
  • Industry impact forces
  • Wind Energy Market Growth drivers
  • Industry pitfalls & challenges
  • Key trends by Segments

Chapter 4. Company Profiles

  • Business Overview of Wind Energy Market Companies
  • Financial Data
  • Product Landscape
  • Strategic Outlook and Decisive Analysis of companies in Wind Energy Market
  • SWOT Analysis

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