Onshore
Wind Energy Market Scenario
The global onshore wind energy market is expected to
expand at 27% CAGR during the forecast period. 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 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.
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.
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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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