The global Wind Energy Market will be worth USD 167.15 Billion by 2027, according to a current analysis by Emergen Research. The emergence of technologically advanced platforms, powered by Artificial Intelligence and machine learning, helps users control their energy and reduce the risks by giving prior information about system failures. The increasing investments in the research & development for the production of technologically advanced solar and wind power generation resulted in the cost-effectiveness of the systems.
Technological advancements in the wind turbines have resulted in the increased capacity of the wind turbines, reduced the weight of the wind turbine parts, and made the blades stronger and more durable, which has increased the demand for the wind energy system.
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Key Highlights From The Report
- In February 2019, Vestas entered into a partnership with a local manufacturing service provider, Marand Precision Engineering, for Wind Turbine Assembly Facility in Geelong. The partnership will help Vestas to expand its wind turbine assembly in the Victorian renewable energy sector.
- Onshore wind farms held the largest market share of 60.5% in the year 2019. The advantages of the onshore wind farms, such as low maintenance costs, cheaper integration and foundation, and easier access and operations, have resulted in the increased demand for the onshore wind farms.
- The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the growing initiatives and funding of the government to adopt renewable sources of energy in order to generate electricity.
- Key participants include Nordex SE, Acciona, Goldwind, General Electric, Vestas, Siemens Gamesa Renewable Energy, S.A., Sinovel Wind Group, Suzlon Energy Limited, ENERCON GmbH, and Dongfang Electric Corporation, among others.
Emergen Research has segmented the global Wind Energy Market on the basis of Location, Application, and region:
- Location Outlook (Revenue, USD Billion; 2017-2027)
- Application Outlook (Revenue, USD Billion; 2017-2027)
The report offers a comprehensive analysis of the current growth opportunities for various regions of the Wind Energy market, calculating their revenue share over the forecast timeline. Furthermore, the report analyzes the year-on-year growth rate of these regions over the forecast duration. The leading geographic regions encompassed in the report include:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Key Factors influencing market remuneration:
- The global Wind Energy market report includes a detailed study of the product spectrum of the market and further describes the different product types, including One-sided, Two-sided, and Others.
- The report zeroes in on the overall market dynamics and presents information with regard to the producers and distributors, manufacturing cost structure, and downstream buyers.
- Details pertaining to the expected growth rate, industry share, revenue accumulated, and product segmentation are depicted in this report.
- The application landscape of the global Wind Energy market can be categorized into For Human, For Animals, and Others.
- The study further examines the industry share and product demand of each application, coupled with the predicted growth patterns of the various application segments.
- Other vital factors, such as market concentration ratio and raw material processing rate, have also been covered under the latest study.
Table of Content:
Chapter 1. Methodology & Sources
1.1. Market Definition
1.2. Research Scope
1.4. Research Sources
1.4.3. Paid Sources
1.5. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Key Insights
Chapter 4. Wind Energy Market Segmentation & Impact Analysis
4.1. Wind Energy Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
126.96.36.199. Increasing demand for electricity
188.8.131.52. Increasing initiatives of the government to reduce carbon emissions
184.108.40.206. Favorable government regulations
220.127.116.11. Technological advancements of the renewable energy sources
18.104.22.168. Increasing investments in wind power projects
4.2.3. Market restraints analysis
22.214.171.124. High installation cost of the wind turbines
126.96.36.199. Heavy investment for the production of the wind turbines
188.8.131.52. Increasing adoption of solar energy or gas-based power
184.108.40.206. Present challenging economic conditions due to the pandemic
4.3. Technological Insights
4.4. Regulatory Framework
4.5. Porter’s Five Forces Analysis
4.6. Competitive Metric Space Analysis
4.7. Price trend Analysis
4.8. Covid-19 Impact Analysis
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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