Global Wind Energy Market Size by Installation Type (Onshore Installations, Offshore Installations), by Turbine Size (Small Wind, Large Wind), by Turbine Type (Horizontal Axis, Vertical Axis), by Region and Forecast 2019 to 2025. The market report also includes qualitative insights of the market such as drivers, restrains, value chain, regulatory framework and trade statistics. The value chain has been analyzed in detail covering key stages of the market.
Wind power is obtained by harnessing the kinetic energy created by the air in motion and then transforming it into electrical energy. This is done using wind turbines or wind energy conversion systems. The global energy system is disrupted by renewable energy sources assisted by the tremendous fall in the cost of generation of electricity from these sources.
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Wind Energy Market: Key Players are Acciona, Enel Green Power, ENGIE, Vattenfall, Ørsted A/S, and NRG Energy, Inc. These players own large wind farms and invest heavily in setting up new wind farms or acquiring a stake in local wind farms with a view to increasing their power generation capacity.
The Wind Energy Market growth is primarily accelerated by the rising number of wind farm installation both offshore and onshore. The global Market analysis indicates the dominance of onshore capacity installation and also estimates the sustained dominance during the forecast period. Wind farms installed with several wind turbines generate electric energy by converting the kinetic energy in the wind. Utility scale turbines ranging from 100 kilowatts to as large as several megawatts are grouped together in the wind farms.
Global onshore wind energy installations stood at over 90% in 2017, as the cost reduction for every doubling of cumulative capacity is estimated to be around 21%. This cost advantage has prompted heavy investment into the onshore wind installation projects. However, during the forecast period, the offshore wind installation are expected to maintain a higher CAGR owing to the Wind Energy Market policy support, technology advances and a rapidly maturing supply chain. This is turning offshore wind an increasingly viable option for harnessing the more consistent and higher wind speeds available offshore.
Get more details about Global Wind Energy Market:
Wind Energy Market: Segmentation
Installation Type Overview, 2015-2025 (GW) (USD million)
- Onshore Installation
- Offshore Installation
Turbine Size Overview, 2015-2025 (GW) (USD million)
- Small Wind
- Large Wind
Turbine Type Overview, 2015-2025 (GW) (USD million)
- Horizontal Axis
- Vertical Axis
Regional Overview, 2015-2025 (GW) (USD million)
- North America
- Asia Pacific
- Latin America
- Middle-East & Africa
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