About Wind Energy Technology
Wind Energy is the process of harnessing the wind to generate mechanical power or electricity. Wind turbines harness the kinetic energy of the wind and convert it into mechanical power. This mechanical power can be used for specific tasks (for example, grinding grain or pumping water) or converted into electricity by a generator. Wind energy is a renowned, clean energy source with a lesser impact on the environment than fossil energy. Wind farms are made up of many individual wind turbines that are linked to an electric power transmission network. A wind plant is typically composed of a large number of wind turbines built close together to form a utility-scale source of wind energy.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The demand for Wind Energy Technology is increasing. The industry is segmented, but it is predicted to grow as rise in fossil fuel prices and stringent government regulations, among other factors, drive the market forward. Businesses in this sector face global competition from market leaders who control a large share of the market. Companies are differentiating their products from competition by employing environmentally friendly materials and manufacturing techniques. The Leading Players are engaging in strategic global expansion to maintain their Market Position. Analyst at AMA Research estimates that China Manufacturers will contribute the maximum growth to Global Wind Energy Technology market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
General Electric (United States), Siemens (Germany), Suzlon Energy Limited (India), Vestas (Denmark), Goldwind (China), Ameren (United States), Envision Energy (China), Enercon (Germany), Prysmian Group (Italy), Sinovel (China), EDF (France) and Duke Energy (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Doosan Heavy Industries & Construction (South Korea) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Wind Energy Technology market by and Region.
On the basis of geography, the market of Wind Energy Technology has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Installation Type, the sub-segment i.e. Offshore Wind will boost the Wind Energy Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Capacity, the sub-segment i.e. <10 kW will boost the Wind Energy Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Turbine will boost the Wind Energy Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-User, the sub-segment i.e. Residential will boost the Wind Energy Technology market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emergence of Vorticity Technology and Rise of Green Hydrogen Fuel
Market Growth Drivers:
Rising Concern towards Growing Carbon Footprint and Increase in Demand for Renewable Energy
Challenges:
Wind Turbine May Cause Noise Pollution and Remote Wind Energy Projects may hamper the Market Growth
Restraints:
High Operating Cost
Opportunities:
Rising Investment in Clean Energy Sector and Increasing Fossil Fuel Prices
Market Leaders and their expansionary development strategies
In July 2023, Ryse Energy, a global leader in decentralized renewable energy systems with more than 4,000 installations across all seven continents, has acquired Primus Wind Power a leading US micro wind turbine manufacturer.
In February 2021 Vestas had announced the launch of Offshore Platform V236-15.0 MW. The new technology lays a solid foundation for Vestas' offshore leadership journey by raising the industry benchmark for performance and continued cost reduction in offshore technology, allowing Vestas to compete in offshore tenders as early as 2021.
Key Target Audience
Venture and Capitalist, New entrants/investors, Analysts and Strategic Business Partners, Agriculture, Telecommunication, Healthcare and End-use industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.