Albany, NY -- (SBWIRE) -- 11/06/2018 -- Renewables are the future of electricity generation. Solar power, wind power, and hydroelectricity are being promoted by governments big time along with biofuels to cut back on polluting thermal power. Among those, onshore wind energy is perhaps easiest to produce. A recently added report by ResearchMoz.us, titled, "Global Onshore Wind Energy Market Insights, Forecast to 2025," studies the prospects of onshore wind energy market. To do so, it examines the tailwinds and headwinds to the market. It also banks upon historical and current figures to understand the current and possible size of the global onshore wind energy market and its growth pace.
The report states that at the forefront of driving the global onshore wind energy market is the fast depleting fossil fuels. Not just that, their highly polluting nature has also egged authorities to explore wind energy wherever possible. As per the International Energy Agency, onshore wind is a proven, mature technology which has evolved impressively in the past five years. This means more electricity produced per megawatt capacity installed, even in places where wind speed is low. Going forward, the International Energy Agency predicts the onshore wind energy production would grow almost 80.0% between 2017 and 2022.
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So far, European nations have been a frontrunner in the global onshore wind energy market. For example, Denmark produces almost 40.0% of its electricity from wind. Meanwhile, China and the U.S. are also seeing phenomenal growth in their onshore wind energy market. This is because of many savvy players domiciled in the region coming up with more effective wind turbines and other components. The strong efforts by governments to curb pollution by limiting emission of noxious fumes from thermal power generation has also helped the onshore wind energy market in the region.
In order to study the global onshore wind energy market further in-depth, the report segments it based on different parameters. For example, based on type it segments the market into less than 500 KW, more than 2 MW, and 500 KW to 2 MW. Based on wind capacity again, it segments the market into medium wind speed, high wind speed, and low wind speed. Further, the report also breaks down the global onshore wind energy market on the basis of grid connectivity into off-grid and on-grid.
The report segments the global onshore wind energy market on the basis of application into power storage, peak power management, frequency response, demand response, and system stability.
Some of the prominent companies operating in the global onshore wind energy market that have been profiled in the report are Siemens, General Electric, Envision Energy, Vestas, Mitsubishi Power System, and Suzlon. The report studies their product offerings, sales and revenues, market shares, and prospects going forward.