Global onshore Wind market is anticipated to grow at a faster pace in 2018, the key reasons being amplified context of energy supply, and demand and increasing demand for renewable energy in electricity generation. Global Wind Energy Council has predicted that there has been an upsurge of wind power from 92.4 GW in 2007 to 494.6 GW in 2018. This proves the encouraging future of wind power in the forecast period.
Further, the growing projects in the creation of wind farms and wind parks is amplifying the market for Onshore Wind Energy market. More wind farm projects from U.S. and China are beholding the growth of wind power. However, maximum outputs from offshore wind farm and more focus on offshore wind projects, is hampering the market. Onshore wind energy market is projected to have enormous growth over the forecast period by constantly transforming in technology together with more demand for wind farms construction and growing demand for electricity. The market is also anticipated to have high expansion and technological events by key players in the industry.
The Power Capacity segment is expected to grow at the highest XX% CAGR during the forecast period.
On the basis of Power Capacity, the wind towers generating >2 MW, hold a XX% market share of onshore wind energy market due to adaptation of new technologies which are capable to generate high wind energy. Based on the Wind Capacity, the high wind speed projects are anticipated to lead the market as there are turbines, which operate individually and generate power of around 2.3 MW. On the basis of End-Use, Utilities are the major shareholder due to rising demand for electricity from the various nations. Based on Application, the growing demand of electricity in peak hours and peak seasons, the demand is satisfied by the electricity produced by onshore wind farms and hence peak power management application is estimated to lead the market.
Asia Pacific is expected to witness the fastest growth during the forecast period.
Asia Pacific is projected to hold protuberant shares of the global Onshore Wind Energy Market. Asia Pacific led the global market in 2018. In Asia Pacific rising mounted capability of electricity along with growing focus on renewable energy in China, India, and Japan is expected to boost market growth throughout forecast period. North America and Europe are also anticipated to witness noteworthy growth throughout forecast period. The rising concern for clean energy together with stringent regulations for conventional power generation, boost the growth in these regions.
Key players operating in the Onshore Wind Energy Market are Siemens AG, Envision energy, General Electric Wind Energy, Suzlon, Vestas Wind System A/S, Enercon GmbH, Mitsubishi Power Systems, Nordex S.E., Repower, Gazelle Wind Turbines, and Clipper Wind Power.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the Onshore Wind Energy Market. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Onshore Wind Energy Market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global Onshore Wind Energy Market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “Onshore Wind Energy Market”
MAXIMIZE MARKET RESEARCH PVT. LTD.
ManikBaug, Vadgaon Bk,
Sinhagad Road, Pune – 411051, Maharashtra, India.
The post Onshore Wind Energy Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of around 26.7% during a forecast period. appeared first on MAXIMIZE MARKET RESEARCH.