Onshore
Wind Energy Market Scenario
The global onshore wind energy market is expected to
expand at ~ 27% CAGR during the forecast period. 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.
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Industry
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.
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Regional
Outlook
The global Onshore Wind Energy market is segmented
into four prominent regions of Asia Pacific, North America, Europe, and Rest of
the World. Asia Pacific region accounted for the largest share of the Onshore
Wind Energy market in 2017, wherein China was the largest country-level market
followed by India, and Japan, followed by the prominent Southeast Asian
countries, which have huge wind energy potential such as Vietnam, Cambodia,
Myanmar, Philippines, and Thailand. Increased demand for electricity, and
energy transition towards renewable energy along with huge potential in the
region have resulted into a remarkable growth for Onshore Wind Energy.
Asia-Pacific Onshore Wind Energy market is anticipated to have the highest CAGR
during the forecast period.
Leading
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.
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