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. A detailed analysis report of COVID-19
impact on Onshore Wind Energy Market Share is provided with the report.
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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