About Wind Power Generation
Wind power generation systems have been recently getting more and more attention due to the cost competitiveness, and are environment-friendly as compared to fossil fuel and nuclear power generation. The increase of unit size and enhancement of performance with higher loading factor and reliability have made wind power generation more attractive and it's unit generation cost becomes very competitive as compared to traditional fossil generation and this is projected the growth of the market in the forecast period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 7.0% |
The competitive landscape is constantly evolving, and new players are emerging all the time. However, the future looks bright for wind power, as it is expected to play an increasingly important role in the global energy mix.The Manufacturers having a strong hold in the market are Acciona Energia SA, Duke Energy Corporation, Électricité de France S.A., and Orsted A/S. 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.
Acciona Energia SA (Spain), Duke Energy Corporation (United States), Électricité de France S.A. (France), Orsted A/S (Denmark), NextEra Energy Inc. (United States), E.ON SE (Germany), Nordex SE (Germany), Suzlon Energy Ltd. (India), United Power, Inc. (United States) and China Datang Corporation Renewable Power Co.,Ltd. (China) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Wind Power Generation market by Type (Onshore and Offshore) and Region.
On the basis of geography, the market of Wind Power Generation 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 Turbines, the sub-segment i.e. Medium Wind Turbines will boost the Wind Power Generation market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Sensitivity Toward Environmental Issues, and Support from Various Governments around the World, through Financial Incentives
Market Growth Drivers:
The Rising Concerns over Global Warming, Environmental Pollution, and Energy, Security is Driving the Market and Declining Cost of Wind Power Generation Globally
Challenges:
Cost-effectiveness
Restraints:
Initial Investment of Wind Power Generation Plant is High
Opportunities:
Increased Demand for Electricity, Which is Expected to Provide Market Opportunities for Wind Power Development in the Coming Years
Market Leaders and their expansionary development strategies
On January 1st, 2024, Siemens Gamesa Renewable Energy and Mitsui announced plans to merge their offshore wind businesses to create a global leader in the sector.
In September 2023, GE Renewable Energy unveiled its Haliade-X 15 MW offshore wind turbine, one of the most powerful wind turbines in the world.
Key Target Audience
Wind Power Generation Plants, Wind Turbine Manufacturers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors and Other
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.