Wind
Power Market Analysis
The
global wind
power market is expected to exhibit a high CAGR over the forecast
period from 2016 to 2027, Market Research Future (MRFR) reports in its latest
research report. The global wind power market is analyzed in detail in the new
report from MRFR, which takes a close look at the historical and current growth
trends in the global wind power market to gain an accurate idea of the market’s
likely growth prospects over the forecast period.
Wind
power is power derived from the kinetic energy of the wind. Wind power has been
one of the oldest sources of power used by mankind, with windmills and other
such applications going back hundreds of years. In recent years, the wind power
market has experienced a renaissance with the growing public awareness about
the need for renewable energy and the growing government support for the
renewable energy sector. Wind power is derived by means of turbines, which are
attached to turbines, which produce the electricity. The global wind power
market is likely to experience steady growth over the forecast period due to
the growing awareness about the importance of renewable power.
The
growing awareness about offshore wind energy farms is likely to be a key driver
for the Wind
Power Market Share. While the wind power market has exhibited steady
growth over the last few decades, the use of wind turbines on land is
complicated by several factors, including the resistance to the construction of
windmills from nearby residents, who are affected by constant noise coming from
the structure, and issues regarding land ownership. As a result, the growing
prospects of the wind power market are likely to be centered on the offshore
wind energy sector over the forecast period. Offshore wind energy plants can be
much larger than onshore wind farms, and while they do suffer from
technological issues such as the difficulties in constructing and anchoring
complicated structures like windmills in the open ocean, the offshore wind
power sector is likely to play a key role in the development of the global wind
power market over the forecast period.
Competitive Analysis:
Leading
players in the global wind power market include Aban Loyd Chiles Offshore Ltd.,
Indowind Energy Limited, Orient Green Power Limited, GE Wind Energy Limited,
Wind World India Limited, Enercon India Pvt. Ltd., Blue Sky Energy Inc., DNV
GL, and WS Truepower LLC.
Segmentation:
The
global wind power market is segmented on the basis of application, type, and
region.
By
application, the global wind power market is segmented into residential,
commercial, and industrial. Industrial applications are likely to account for a
major share in the global wind power market over the forecast period.
By
type, the global wind power market is segmented into onshore and offshore.
Onshore wind farms currently dominate the global wind power market, but the
demand for offshore installations is likely to grow consistently over the
forecast period.
Regional Analysis:
Though
the global wind power market is likely to experience growth across the world
over the next few years, North America is likely to hold on to a leading share
in the global wind power market due to the earlier presence of advanced wind
power facilities in the region and the consequent establishment of the relevant
infrastructure. The growing demand for offshore wind power farms in North
America could play a key role in the growth of the wind power market in North
America over the forecast period.
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