Wind energy generation is one of the most developed methods of harnessing renewable energy. It accounts for a large share of the global renewable energy market. Wind energy can be broadly categorized into two sectors: onshore wind and offshore wind.
Albany, NY -- (SBWIRE) -- 10/16/2015 -- Wind energy is a relatively mature method of generating renewable energy. It has garnered significant share in the global renewable energy market due to its relatively mature technology and low cost of generation vis-a-vis other renewable energy sources. The wind industry's rapid development in the past few years indicates its significant potential to create jobs, spur economic activity and reduce greenhouse gas emissions.
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Onshore wind energy is a relatively old technology. It has emerged as one of the most developed renewable energy generation methods in use currently. Both project development experience and technology maturity for the onshore wind energy sector is relatively high. The market for wind turbine suppliers is consolidated in nature, with 10 major turbine suppliers accounting for nearly 75% of the annual installations in 2013. The high technology maturity component is one of the primary driving factors for wind energy. A large number of project developers exist in the market. These are duly supported by national government installation targets. This has helped boost investor confidence in the wind energy sector. The technology has achieved a certain degree of maturity; however, there is still ample scope for cost reduction through technological innovations and deployment of large multi-megawatt turbines.
This research is designed to estimate, analyze and forecast the market volume and revenue for the wind power generation market. It provides an in-depth analysis of the market size of wind power in terms of capacity (MW) and revenue (USD Billion). The baseline data for this report has been taken as 2013, while all the forecasts are carried out for the 2014 to 2020 period. Wind energy can be broadly segmented into offshore and onshore. However, this report focuses exclusively on the onshore market. The report analyzes the onshore wind energy sector in detail along with deep dive research that spans five regions and 36 countries. The market has been segmented based on geography into five regions: North America, Asia Pacific, Europe, the Middle East & Africa and South & Central America. About 36 countries across these five regions have been separately analyzed to obtain a better idea of the wind energy sector globally. The market has been forecasted using the unique bottom-up approach, where individual country forecasts were added up to provide regional and global market sizes. The report primarily focuses on wind turbine developers as they form an integral part of the wind value chain. Turbine cost projections and forecasts have been provided in the report and accounted for while calculating revenue figures. The company market share provided in the report focuses on the market share of wind turbine manufacturers with respect to turbine capacities supplied by them for 2013.
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The market size for onshore wind power generation has been estimated by studying the possible future technology trends in the market. Detailed research of countries and region-specific wind associations has been undertaken to estimate and forecast the installed capacity and investments in the onshore wind energy sector. As part of the bottom-up approach adopted for forecasting purposes, a deep dive regulatory analysis was required. The regulatory framework for each of the 36 countries accounted for in the report was analyzed separately. This provided a clear indication regarding the general approach of the government towards wind energy and the overall investment sentiment in the country. Legislations specifying quotas for indigenous manufacturing and renewable energy purchase also provided a clear idea regarding the clustering of turbine developers in a region, which may be observed in the future.
The report includes Porter's five forces model and value chain analysis for the onshore wind energy sector. These have been included with respect to turbine manufacturers, developers and suppliers. Drivers, restraints and opportunities for the market have been broadly identified. Both drivers and restraints for the onshore wind energy market are subject to country or region-wise variations. On the global scale, only the most attractive drivers and pressing restraints have been included. The market attractiveness study has been conducted regionally. The study has been quantified using different factors that play a major role in determining the overall attractiveness of the market.
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