Market Highlights
The demand for clean energy
resources is increasing owing to the increased demand for electricity, and
upcoming regulations unfavourable to conventional sources of energy. The
continuous exploitation of renewable energy source has resulted in a higher
number of wind energy projects around the globe. Innovation in the technology
of wind turbines and wind parks has also added value to the onshore wind energy
market. The large scale projects of power generation through wind farms and
wind parks is expected to boost the onshore wind energy market.
The power industry is the
backbone of all the industries and the effects of urbanization and
industrialization, are increasing the demand for power at a fast rate. For
increasing the electricity installed capacity, power industry is shifting
toward efficient, reliable and abundant sources that would consume less fuel
and give higher energy. Renewable sources fulfill all these conditions. Onshore
wind energy is observing a progressive phase as the nations are moving toward
wind farms and wind parks to generate electricity.
Asia-Pacific onshore wind
energy market dominates the global market due to the rising demand for energy
and the highest focus on renewable sources. The factors for the growth of
onshore wind energy market are enormous in the emerging economies of the
region. Furthermore, the region is
experiencing rapid industrialization and urbanization, which accounts for
higher demand for electricity. The countries such as China, India, and Japan
and Singapore are the most populated countries and are planning clean energy
generation. Besides, there is a high potential of wind energy source from the
Southeast Asian countries including Thailand and Malaysia. Thus, the region
contributes the most in the onshore wind energy market share.
Key Players
The key players of global
onshore wind energy market are Siemens AG (Germany), Envision energy (China),
General Electric Wind Energy (U.S.), Suzlon (India), Vestas Wind System A/S
(Denmark), Enercon GmbH (Germany) Mitsubishi Power Systems (Japan), Nordex S.E.
(Germany), Repower (Switzerland), Gazelle Wind Turbines (U.K.), and Clipper
Wind Power (UK) are among others.
Segmentation
Global onshore wind energy
market has been segmented on the basis of end-use, application, grid
connectivity, power capacity, wind capacity and region. Based on end-use, the
market is further segmented into utilities, commercial & industrial, hybrid
power and others. Among these, the utilities segmented are expected to hold
major market share. Since utilities are responsible to provide the electricity
supply from the demanding sectors. There has been sharp increase in demand for
electricity from last decade from the growing economies, thus utilities require
more and more power to match the demand. Peak power management segment commands
the largest market share by application type, the main reason being shortage of
electricity during peak hours. Industries and factories need electricity during
fixed working hours, which creates demand for energy during those hours.
Onshore wind energy helps manage the power distribution at those hours making
it the most dominating segment. Onshore wind energy generated is both off grid
and on grid. Between these, on-grid segment is more dominating due to the fact
that most electricity connections are connected to grid as power infrastructure
is increasing at an exponential growth. The market is segmented as high wind
speed, medium wind speed and low wind speed on the basis of wind capacity. The
high wind speed project accounts for the largest number of projects as they are
capable of generating power of high capacity.
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