Global Wind Farm Operation Market Overview:
A wind farm is an infrastructure that produces electrical energy from wind generated from the ground. To do this, they first design and build equipment that can convert the kinetic energy of the wind into electricity, then convert it into electricity suitable for use before sending it to the grid. Increased capacity installations worldwide have accelerated wind farm operations.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Surging Investments in Maximizing Cost Efficiency of the Wind Power Projects
Market Growth Drivers:
Increase in Capacity Installations across the Globe
Challenges:
Lower Accessibility for Repair and Maintenance and High Installation Costs
Restraints:
Volatility in Average Wind Speeds across the Globe
Opportunities:
Increasing Awareness about Renewable Energy Sources
Competitive Landscape:
Wind Farm Operation is a fragmented market due to the presence of a large number of established competitors. The market is highly competitive with a few players occupying the major share. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Siemens (Germany), General Electric (United States), Mitsubishi Heavy Industries, Ltd. (Japan), RWE Renewables (Germany), NextEra Energy (United States), Vestas (Denmark), Avangrid (United States), EDP Renewables North America LLC (United States) and Renewable Energy Systems Americas (United Kingdom). Considering Market by Installation, the sub-segment i.e. Onshore will boost the Wind Farm Operation market. Considering Market by Component, the sub-segment i.e. Rotator Blade will boost the Wind Farm Operation market.
Latest Market Insights:
In November 2022, NextEra Energy Partners, LP, a subsidiary of NextEra Energy Resources, LLC, acquired a 49% stake in its approximately 1.5 Gigawatt renewable energy portfolio and approximately 100% of its indirect member stake in approximately 345 megawatts (MW) of operating wind assets portfolio. Immediately following the acquisition, NextEra Energy Partners contributed equity in the newly acquired projects and six existing renewable energy assets to the new portfolio.
In November 2020, Vestas Wind Systems A/S (Vestas) and Mitsubishi Heavy Industries, Ltd. (MHI) agreed to expand their partnership on sustainable energy. The deal between Vestas and MHI was approved by the competition authorities and today the two companies have received official approval for the deal from the European Commission
What Can be Explored with the Wind Farm Operation Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Wind Farm Operation Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Wind Farm Operation
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Wind Farm Operation market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Wind Farm Operation market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Wind Turbine Manufacturers, Wind Turbine Distributors and Traders, Wind Energy Industry Associations, Research and Development Institutes, Government Agencies, Renewable Energy Providers and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.