The global Wind Energy Market will be worth USD 167.15 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the rapid urbanization coupled with the rising demand for electricity in the developing economies. Rising initiatives of the government to increase the adoption of sustainable sources of power generation such as solar energy and wind energy in order to reduce the emission levels and enhance the quality of air is anticipated to drive the growth of the segment.
One of the fundamental components of the latest report is the exhaustive coverage of the COVID-19 impact on the Wind Energy business landscape. Remarkable changes in the market dynamics and trends have followed the viral outbreak. The global health emergency has brought about unprecedented changes to the global economic scenario, while adversely impacting the Wind Energy market. Apparently, the pandemic has disrupted the Wind Energy market’s supply chains and caused acute volatility in the prices and demands for the top products. Therefore, the report analyzes the market segments beleaguered by the aftereffects of the pandemic. However, our analysts speculate that the market will regain momentum in the post-COVID era.
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Additionally, the Wind Energy market research report comprehensively examines the key elements of the Wind Energy market that influence its growth over the projected timeframe. The report’s authors leveraged a set of analytical tools, such as SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis, to offer strategic recommendations to the new market entrants on how to overcome the entry-level barriers. The global market has been categorized on the basis of product type, application gamut, end-user industries, and the competitive hierarchy. The report inspects the current market scenario, its past performance, demand and supply ratios, production and consumption rates, sales, and numerous growth opportunities available in the market. It further entails a clear outline of the market’s intensely competitive atmosphere to help businesses and industry stakeholders decipher the optimal business moves and achieve their business goals.
Some 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 industrial segment is forecasted to grow with the fastest CAGR of 7.1% over the forecast period due to increasing preferences of the industries towards cleaner sources of energy in order to reduce their dependency on fossil fuel-based power generation.
- 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.
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Key Geographies Profiled in the Report:
- North America(the U.S., Mexico, and Canada)
- Asia Pacific(China, Japan, India, and Rest of Asia Pacific)
- Europe(the U.K., France, Germany, and Rest of Europe)
- Latin America(Brazil and Rest of Latin America)
- Middle East & Africa(GCC Countries and Rest of Middle East & Africa)
The key industry participants include:
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)
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Key reasons to buy this report:
- The report offers valuable insights into the major drivers, limitations, opportunities, and challenges faced by the global Wind Energy market and its leading players.
- It offers an in-depth study of the Wind Energy industry and forecasts the market shares and sizes over the projected years.
- The report underscores the prominent market contenders, focusing on their business strategies and long-term business expansion plans.
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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 trend’s 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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