Wind Energy Market size to exceed $160bn by 2024

Wind Energy Market size will exceed USD 160 Billion by 2024, as reported in the latest study by Global Market Insights, Inc.
 

Increasing energy demand has been imposing measures associated to security of supply and grid stability across the globe. Growing investments to develop a renewable electrical infrastructure in line with favorable regulatory schemes toward the adoption of sustainable technologies will drive the wind energy market. In 2018, the EU Commission proposed plans to allocate funds of over USD 1 billion with an aim to enhance the renewable energy infrastructure.


 

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Diminishing project development prices on account of decrease in component costs favored by government initiatives will augment the business growth. Moreover, utility scale installation tends to endure lesser operational costs when compared to auxiliary generation systems. Rapid technical enhancements coupled with the infusion of smart monitoring & sensing units across turbines have reduced the overall transmission losses. Cost effective structure coupled with improved energy efficiencies will positively influence the industry dynamics.
 

U.S. Wind Energy Market Size, By Axis, 2016 & 2024 (USD Million)
Wind Energy Market

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The U.S. wind energy market by 2024, is projected to exceed an annual installation of over 17 GW. Rising domestic turbine manufacture, decreasing cost of components along with determined initiatives toward new capacity addition from sustainable establishments will stimulate the industry outlook. As per the U.S. DoE in 2016, wind turbine establishments grew by 11%, which includes over 20% of the added new generation capacity across the region.
 

Browse key industry insights spread across 1150 pages with 1194 market data tables & 12 figures & charts from the report, “Wind Energy Market Size By Axis (Horizontal Axis, Vertical Axis), By Connectivity (On-Grid, Off-Grid), By Installation (Onshore (Turbine (Grounded (Tower, Rotor Blade, Others))), Support Structure (Substructure-Steel, Foundation (Monopile, Jacket), Others), Electrical Infrastructure (Wires & Cables, Substation, Others), Others), Offshore (Turbine (Floating (Tower, Rotor Blade, Others), Grounded (Tower, Rotor Blade, Others)), Support Structure (Substructure-Steel, Foundation (Monopile, Jacket), Others), Electrical Infrastructure (Wires & Cables, Substation, Others), Others), By Application (Utility, Industrial (Food, Paper/Pulp, Chemical, Others), Commercial (College/University, Office, Government/Military, Others) Residential), By Capacity (<30 kW, 30 kW < 500 kW, 500 kW < 2 MW, ≥2 MW) Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Sweden, Turkey, Poland, Netherlands, Austria, Portugal, Denmark, Italy, Spain, China, India, Australia, Japan, South Korea, Vietnam, Thailand, Indonesia, Malaysia, Philippines, Taiwan, South Africa, Egypt, Morocco, Ethiopia, Brazil, Chile, Peru), Application Potential, Competitive Market Share & Forecast, 2017 – 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/wind-energy-market

 

Capability to generate electricity in turbulent environments in line with ease of operation & low maintenance cost are few essential parameters complementing the vertical axis units. These turbines are suitable for low rated capacity and residential establishments followed by favorable outlook pertaining to the distributed wind energy technologies will boost the business growth.
 

Ongoing deployment of technologies across commercial and residential establishments will positively sway the 30 kW to < 500 kW wind turbine demand over the years. Advancements across emerging nations coupled with rising migration across metropolitan countries will strengthen the industry potential. Increasing demand for small-scale renewable systems across commercial establishments coupled with growing need for renewable energy environment will further energize the industry growth.
 

Europe wind energy market is projected to observe growth of over 10% owing to energy security initiatives, positive regulations and decarbonization reforms. The European Union directives proposed the plans for the production & promotion of renewable energy sources across the region. This scheme has imposed targets to attain 20% sustainable incorporation in the overall electricity demand with wind resulting for approx. 200 GW installed capacity.
 

Prominent wind energy market participants include ReGen, Geronimo, Tradewind Energy, A2Sea, ABB, Vattenfall, EDP Renewables, Gamesa, Envision, EDF, Invenergy, ABO Wind, NextEra Energy, Nordex, Mingyand, Alstom, Senvion, Enercon, Goldwind, Vestas and GE.
 

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

Wind Energy Market, By Axis

  • Horizontal
  • Vertical

Wind Energy Market, By Connectivity

  • On- grid
  • Off-grid

Wind Energy Market, By Installation

  • Onshore
    • Component
      • Turbine
        • Grounded
          • Tower
          • Rotor blade
          • Others
      • Support Structure
        • Substructure-Steel
        • Foundation
          • Monopile
          • Jacket
        • Others
      • Electrical infrastructure
        • Wires & Cables
        • Substation
        • Others
      • Others
  • Offshore
    • Turbine
      • Floating
        • Tower
        • Rotor blade
        • Others
      • Grounded
        • Tower
        • Rotor Blade
        • Others
    • Support Structure
      • Substructure(Steel)
      • Foundation
        • Monopile
        • Jacket
      • Other
    • Electrical infrastructure
      • Wires & Cables
      • Substation
      • Others
    • Others

Wind Energy Market, By Application

  • Utility
  • Industrial
    • Food
    • Paper/pulp
    • Chemical
    • Others
  • Commercial
    • College/University
    • Office
    • Government/Military
    • Others
  • Residential

Wind Energy Market, By Capacity

  • ≤ 30 kW
  • 30 kW - 500 kW
  • 500 kW - 2 MW
  • ≥ 2 MW

 

 

The above information is provided on a regional & country basis for the following:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Sweden
    • Turkey
    • Poland
    • Netherlands
    • Austria
    • Portugal
    • Denmark
    • Italy
    • Spain
  • Asia Pacific
    • China
    • India
    • Australia
    • Japan
    • South Korea
    • Vietnam
    • Thailand
    • Indonesia
    • Malaysia
    • Philippines
    • Taiwan
  • Middle East & Africa
    • South Africa
    • Egypt
    • Morocco
    • Ethiopia
  • Latin America
    • Brazil
    • Chile
    • Peru

 

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