The report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Wind Turbine production region, major players, and product type which will provide a simplified view of the Wind Turbine industry. The Wind Turbine market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Wind Turbine market which will help the emerging market segments in making vital business decisions.
The wind turbine nacelle market is expected to grow at a CAGR of more than 1.8% during the forecast period.
Wind Turbine Market Segmentation:
This report on Global Wind Turbine market is a detailed research study that helps provides answers and pertinent questions with respect to the emerging trends and growth opportunities in this industry. It helps identify each of the prominent barriers to growth, apart from identifying the trends within various application segments of the Global market for Wind Turbine. Collecting historical and recent data from various authentic resources and depending on all the factors and trends, the report presents a figurative estimate of the future market condition, along with compound annual growth rate (CAGR).
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Global Wind Turbine market competition by top manufacturers, with production, price, revenue (value) and market share for each manufacturer; the top players including Siemens Gamesa Renewable Energy, S.A., Vestas Wind Systems A/S, General Electric Company, Suzlon Energy Limited, Nordex SE, amongst others.
Increasing Demand for Offshore Wind Installations
– The offshore wind energy market is dominated by the United Kingdom, Germany, and China, which cumulatively accounted for approximately 81% of total offshore wind turbine capacity in 2018.
– New-build offshore wind has witnessed the fastest cost fall of any renewable energy source, reaching an average price of USD 78/MWh, a decrease of approximately 32% as compared to cost in 2018. The drop in prices can be attributed to the increase in production of offshore turbines and the R&D activities leading to technological advancements.
– The technological advancements are expected to further increase the efficiency and decrease the production costs of wind turbines. With declining production costs, the market for offshore wind turbines in countries, such as the United States, China, India, and South Korea, is gaining momentum as the offshore wind turbines are becoming economically competitive with onshore wind turbines.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific region is expected to dominate the wind turbine nacelle market during the forecast period. As the environmental regulations regarding carbon emissions are becoming more stringent, the Asia-Pacific region with the largest share of carbon emission globally is expected to turn to the renewable source for energy generation purpose. This, factor, in turn, is expected to boost the wind power installed capacity in the region in the coming years.
– As of 2019, China holds the largest wind power generation capacity in the world. However, China’s decision to end subsidies for onshore wind power by 2021 is likely to restrain the growth of the market after 2021.
– India holds the fourth largest wind power installed capacity in the world. These projects are majorly spread in the Northern, Southern and Western parts of the country. With the policies and investment in research and development, the government has been successful in reducing the cost of wind power owing to which wind power has become an attractive market for the investors.
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This independent 120 pages report guarantees you will remain better informed than your competition. With over 80 tables and figures examining the Wind Turbine market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader’s market revenue forecasts as well as analysis to 2025.
Reasons to Purchase this Report
- Impact of low unit costs, diversified product ranges and intense competition on the market
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Regional analysis of the market
- Identifying the latest developments, market shares, and strategies employed by the major market players
- 3-month analyst support, along with the Market Estimate sheet (in Excel)
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