Wind Energy Market Current and Future Industry Trends to 2024
Category: #world  By Ashwin Naphade  Date: 2019-01-28
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Wind Energy Market Current and Future Industry Trends to 2024

Market Study Report, LLC, has come up with a report on the Wind Energy market which provides a holistic synopsis of the market size, market valuation, revenue estimate, SWOT analysis, and the geographical spectrum of this industry. The report accurately underlines the key challenges and opportunities for growth during the forecast period. In addition, it sheds light on the current competitive scenario and reviews the business strategies adopted by the Wind Energy market players.

Residential wind energy market is predicted to witness significant growth owing to its wide applications across service and residential buildings. Increasing demand for distributed energy systems across residential sector will boost the business landscape. As per the U.S. Department of Energy, distributed energy systems are feasible for approximately 49 million industrial, commercial, or residential sites which, is equals to more than 42% of the U.S. buildings.

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Major players across the industry include Vestas, ABB Limited, General Electric, Senvion S.A., Geronimo Energy, Tradewind Energy Inc, EDF Renewable Energy, ReGen Powertech, Vensys Energy, EDP Renewables, Envision Energy, Leitwind, MHI Vestas, Invenergy LLC, A2SEA, Vattenfall AB, Doosan Heavy Industries & Construction, Goldwind, Siemens Gamesa Renewable Energy, Enercon, Nordex SE, Suzlon Energy Limited, ABO Wind, NextEra Energy Inc, Northland Power Inc, DONG Energy

Increasing funding from leading financial institutions including the Green Investment Bank, International Finance Corporation and the World Bank will thrust the wind energy market growth. Furthermore, the technology across the globe has witnessed significant proliferation subject to small-scale funding initiatives from domestic public entities. As of August 2017, Green Investment Bank has allocated USD 4.4 billion for projects toward offshore and onshore renewables, energy efficiency and bioenergy.

Wind Energy Market will cross USD 170 billion by 2024. Growing demand for reliable, cost effective and environment friendly generation systems along with strict government norms to reduce GHG emissions will augment the wind energy market. In 2016, government of UK announced the target to reduce GHG emissions up to 58% by 2030 from 1990 levels.

Increasing electricity demand along with growing awareness towards sustainable energy will positively impact the China wind energy market share. As per Chinese Wind Energy Association, in 2015, 40 GW of wind power projects were approved, and a total of 115 GW is expected to be added between 2016 and 2020, accounting for a total capacity up to 260 GW.

Offshore wind energy market is predicted to reach over 13 GW of annual installation by 2024. The Government directives toward energy efficiency along with huge untapped potential will boost the product penetration. In 2017, Horizon 2020 sponsored USD 17.83 million to European Commission project towards reduction of operation and maintenance costs of offshore through integration of advanced monitoring technologies for turbines.

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Rapid Industrialization coupled with growing awareness towards sustainable energy mix will drive Turkey wind energy market. Limited availability of oil & gas reserves seeks country to improve its energy security by renewable energy sources. The Turkish Wind Energy Association aims to achieve 10 GW of installation by 2020.

Table of Content:

Chapter 1. Methodology and Scope

Chapter 2. Executive Summary

Chapter 3. Wind Energy Market Industry Insights

Chapter 4. Wind Energy Market, By Axis

Chapter 5. Wind Energy Market, By Connectivity

Chapter 6. Wind Energy Market, By Installation

Chapter 7. Wind Energy Market, By Application

Chapter 8. Wind Energy Market, By Capacity

Chapter 9. Wind Energy Market, By Region

Chapter 10. Company Profiles

 

More Details on this Report At: https://www.marketstudyreport.com/reports/wind-energy-market

Related Reports: -

Offshore Wind Energy Market Share & Forecast, 2018 - 2024

Offshore Wind Energy Market is anticipated to surpass USD 60 billion by 2024. Growing attention to curb the GHG emissions by shifting inclination toward renewable power generation will boost the industry dynamics. Furthermore, favorable government reforms and monetary support to capitalize the regional offshore potential will further enhance the business growth. For instance, Germany, in 2017, allocated over USD 7 billion for building new offshore and onshore wind farms.

https://www.marketstudyreport.com/reports/offshore-wind-market/?utm_source=RR-PSR  

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About Author

Ashwin Naphade

Email: [email protected]   

Ashwin Naphade

Ashwin is into digital marketing since the last 2 years and has worked on multiple projects across various industries. He likes posting information and knowledge on multiple topics with an objective to create online visibility as well as share his inputs. His interest...

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