Market Study Report adds global Wind Energy market report that gives meticulous investigation of current scenario of the market size, share, demand, growth, trends, companies active in the industry and forecasts for the coming years.
Selbyville, DE -- (SBWIRE) -- 10/10/2018 -- Market Study Report adds a new Wind Energy Market Research Report for the period of 2017-2024 that shows the growth of the market is rising at a Steady CAGR to 2024.
Wind Energy Market will cross USD 170 billion by 2024, according to a new research report.
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.
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Key industry players across wind energy market include Vestas, ABB Limited, General Electric, Siemens Gamesa Renewable Energy, Nordex, Enercon, Suzlon, Doosan Heavy Industries & Construction, Senvion, and Vattenfall.
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.
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.
Ambitious targets toward capacity addition along with favorable government initiatives including tax rebate will boost the deployment of ?2 MW capacity systems. The introduction of renewable energy certificates and carbon credit will further complement the business outlook. Many countries including the U.S. and UK are primarily shifting their focus toward the replacement of traditional power generation plants with sustainable energy sources.
Favorable government initiatives including federal & state incentives policies, renewable energy-friendly environmental regulations, and utility support will augment the U.S. wind energy market share. In July 2015, Incentivizing Offshore Wind Power Act was introduced to encourage investments in offshore wind energy by providing critical financial incentives.
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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.
Table of Content:
Chapter 1. Methodology and Scope
1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Market definition and forecast parameters
1.2. Data sources
1.2.1. Primary
1.2.2. Secondary
Chapter 2. Executive Summary
2.1. Wind energy industry 3600 synopsis, 2013 – 2024
2.1.1. Business trends
2.1.2. Axis trends
2.1.3. Connectivity trends
2.1.4. Installation trends
2.1.5. Application trends
2.1.6. Capacity trends
2.1.7. Regional trends
Chapter 3. Wind Energy Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry ecosystem analysis
3.3.1. Vendor matrix
3.4. Innovation & sustainability
3.5. Regulatory landscape
3.5.1. U.S.
3.5.2. Europe
3.5.3. UK
3.5.4. Germany
3.5.5. China
3.6. Cost structure analysis
3.6.1. Capital cost (CAPEX) (Offshore)
3.6.2. Operational cost (OPEX) (Offshore)
3.6.3. Capital cost (CAPEX) (Onshore)
3.7. Global wind capacity addition targets
3.8. Wind energy industry trends and outlook
3.8.1. Cumulative Wind Energy Capacity (December 2016)
3.8.2. New Installed Wind Energy Capacity (December 2016)
3.9. Comparative analysis
3.9.1. Offshore wind & onshore wind
3.9.2. Horizontal axis turbine & vertical axis turbine
3.10. Industry impact forces
3.10.1. Growth drivers
3.10.1.1. North America and Europe
3.10.1.1.1. Stringent emission norms
3.10.1.1.2. Growing deployment of renewable energy
3.10.1.2. Asia-Pacific
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