The Global Wind turbine Market has been estimated at USD XX billion in 2015 and is projected to reach USD XX billion by 2020, at a CAGR of XX% during the forecast period from 2015 to 2020. Wind Energy cumulative capacity is expected to rise to 1750 GW by 2030.
A Wind turbine is a device which converts the kinetic energy of the wind into electrical energy. Wind turbine uses the energy present in the wind to generate power. Wind energy is a renewable energy that is available in ample quantity and extensively. It is an alternative to fossil fuels which are depleting in the world. Wind energy is the cleanest resource; it has neither toxic gas emissions nor greenhouse gas emissions. Wind turbines are connected to the network of electricity transmission
The onshore and offshore wind that is trapped is an inexpensive, competitive and significant source of energy. Wind energy contributed to 4% of the total global electricity usage in 2013. The Major application of Wind turbine can be categorized into three segments, namely, Industrial, commercial and residential. Industrial can be further sub divided into Power generation, agriculture, Industrial automation, engineering and telecommunication. Most important usage of Wind turbines is its industrial application. And accounts for more than XX% share of global Wind turbine market in 2015.
This market is driven by a number of factors, such as the large number of ongoing projects and innovations in the Power generation sector along with the growing demand for Industrial products. Especially the growth in emerging economies in Asia-pacific with India and China being the key drivers. However, this market faces certain drawbacks, such as high initial investments, rare earth metals usage and with a few ecological concerns such as land use and wildlife habitat. These factors may act as a roadblock to the growth of the market.
This market can be broadly segmented into Small (1-120 KW), Medium (121-1000 KW), Large (1-3 MW) and other, based on its power plant’s installed capacity. In this report, the market is also segmented based on its technology time such as Horizontal axis wind turbine and Vertical axis wind turbine.
The market has also been geographically segmented into North America, Europe, Asia, Middle East & Africa and Pacific, with Europe occupying the largest consumer base in the world. Asia and North America taking the next places. The emerging economies in Asia-Pacific have made this region an area of immense potential and opportunities. However, the price sensitivity in this region has considerably hindered the growth of this market.
The market has more relevance today since trends show that world’s energy consumption is increasing, indicating a market opportunity for Wind turbines. The major companies dominating this market for its products, services, and continuous product developments are GE Energy, Siemens wind power A/s, Suzlon Energy limited, Vestas wind systems A/S, Sinovel Wind Co.Ltd., Xinjiang Goldwind Science & Technology Co., Ltd., Gamesa Corporation Technologica, ENERCON GMBH, Guodian United Power Technology Co., Ltd., China Mingyang Wind Power Group Ltd. and others. The current trends in mergers and acquisitions indicate that the smaller companies are getting acquired by the bigger ones for more innovations by utilizing their core competencies. For example General Electric’s acquisition of Alstom Power
Key Deliverables in the Study
1. Market analysis for the Global Wind turbine Market, with region specific assessments and competition analysis on global and regional scales
2. Market definition along with the identification of key drivers and restraints
3. Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale
4. Extensively researched competitive landscape section with profiles of major companies along with their market shares
5. Identification and analysis of the macro and micro factors that affect the global Wind turbine market on both global and regional scales
6. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
7. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
8. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.