Global Wind Turbine Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027
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May 2023
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This report was compiled by Correspondence Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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MarketResearch.biz delivers in-depth insights on the global wind turbine market in its upcoming report titled, “Global Wind Turbine Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global wind turbine market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the global wind turbine market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the global wind turbine market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global wind turbine market report has been segmented on the basis of type, application, and region.
Wind turbine is a device used to generate electricity with the help of wind by converting kinetic energy into electricity energy. It is a clean renewable and easily available energy having no adverse effect on environment. There are basically two types of turbines horizontal-axis variety and vertical-axis variety.
Increasing industrial growth globally, and increasing price of non-renewable energy resources are major factors expected to drive growth of the global wind turbine market. In addition, increasing energy consumption from developed and developing countries and need for an alternative clean, cost effective renewable & sustainable energy resource having no adverse effect on environment is expected to boost growth of the global wind turbine market.
However, high manufacturing and installation cost of turbine is a major factor expected to hamper growth of the global wind turbine market. In addition, infrastructure development for transmission and distribution of electricity may hamper growth of the global wind turbine market.
Recent trends observed in wind turbine market include active pitch controller to maintain energy capture at a very high wind speed, and systems wired for turnkey interconnection, which are expected to present new opportunities for market players operating in the global wind turbine market over the forecast period.
North America market is a dominant player in the global wind turbine market and accounts for largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to well-developed commercial, residential, and industrial application segments. Europe market accounts for the second largest revenue share contribution to the global wind turbine market followed by markets in Asia Pacific, Latin America and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of revenue, owing to increase in government initiatives for infrastructure development for onshore wind turbine and shifting preference to renewable energy in emerging economies in this region.
Global Wind Turbine Market Segmentation:
Global wind turbine market segmentation by type:
- Onshore
- Offshore
Global wind turbine market segmentation by application:
- Industrial
- Commercial
- Residential
Global wind turbine market segmentation by region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn -
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- Vestas Wind Systems A/S
- Sinovel Wind Group Co., Ltd.
- Goldwind USA, Inc.
- Siemens Corporation
- General Electric Company
- Suzlon Energy Ltd.
- Enercon GmbH
- Ming Yang Wind Power Group Limited
- Gamesa Corporación Tecnológica, S.A.
- Guodian United Power Technology Company Ltd.