Transparency Market Research

Wind Power Market Analysis, Size, Share, Trends and Forecast 2019

Transparency Market Research Report Added "Wind Power Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019" to its database.


Albany, NY -- (SBWIRE) -- 07/02/2014 -- Wind power is defined as the transformation of wind energy into electrical energy using wind turbines. Wind is a kind of solar energy and is caused by the irregular heating of the atmosphere by the sun. This wind energy is utilized by the turbine to generate electricity. In this process turbines convert the kinetic energy of the wind into mechanical energy to generate electricity. This energy is further used in lighting, water pumping etc. Wind energy is a renewable source of energy and is present in abundance in atmosphere so no restriction of the usage as ample amount will be present in future. Wind energy is also a clean non polluting source of generating electricity. Unlike conventional generation of electricity wind plants emits no water & air pollutants or green house gases. In addition being a key source in reduction of emission wind power uses no water to generate electricity which makes it a great opportunity in the fresh water constrained world. As an alternative to fossil fuel wind power is plenteous and widely distributed and uses slight land during operations. The outcome on environment is comparatively less problematic than those from other power generation resources.

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Globally demand for power is rising at a massive rate. The growth for the wind market is abundantly driven by drivers like supply and demand mismatch, hike in the environmental issues mainly changes in climate, development in technology and less maintenance cost. As wind power generation is completely dependent on wind so the output of the turbines varies with time and geographical location thus making it difficult to integrate with grid. High initial investment and difficulty in obtaining financial aid as low as available for other conventional sources is also the restraints in the development of the global power market. As the output is not consistent from wind turbines affecting the stability of grid the concept of backup using storage devices can be a major option for future and new technologies like offshore can play a crucial role in the enhancement of wind power market.

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Wind power market is basically segmented into two types Wind farms & Small winds. Winds farms provide electricity to large utilities or major consumers like industries. Large wind farms consist of hundreds of turbine and cover an area of hundreds of square kilometers. Whereas small winds consist of single or few turbines providing power to small or individual customers. Wind turbines are formed by blend of various components in order to generate electricity through the conversion of kinetic energy. Wind strikes the pitch of the blade producing rotational energy and made the blade to rotate. This rotational energy is received by the connected generator shaft and is transferred to the generator and finally gets converted into electrical energy. This generated energy is the form of direct current and is converted into the alternating current using invertors according to the requirements. Wind power is used to generate electricity at remote areas, electrification of villages, heating and pumping water.

Asia pacific & Europe are the regions utilizing their maximum wind potential followed by North America. Exponential growth is seen in their capacity addition from wind. Middle East & African countries have started utilizing their potential but at a slower rate. The wind energy potential in many developed and developing countries is present in abundance creating an opportunity to replace conventional generation from fossil fuels.

Some of the key players in wind power market are Gamesha, E.ON, Vestas, Siemens, Iberdrola Renowables, General Electric, NextEra, Sinovel, Suzlon, Nordex and Regen Powertech among others.

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