A wind turbine is a rotating machine that transfers kinetic energy from the wind into electricity or mechanical energy. It consists of two or three propeller-like blades around rotor. This rotor is connected to the main shaft, which spins a generator to produce electricity. The amount of power generated depends on the speed of the wind coupled with size & number of the wind turbines. These turbines are usually grouped together into a single wind power plant called as wind farm. Bulk electricity is produced by these wind farms, which is then transmitted through the grid and distributed to the consumers.
The global wind turbine market is primarily driven by rising energy costs, growing energy demand especially in developing countries, and need for energy security. However, low and inconsistent generation of electricity may act as a major hindrance for the wind turbine market. Also, stringent government regulations for the use of renewable form of energy, new trends of technological advancement, and increased focus towards offshore wind turbines are the aspects expected to generate various growth opportunities for the global wind turbine market in the upcoming years.
The global wind turbine is mainly classified on the basis of installation type, and geography. The classification by installation type includes onshore and offshore. By geography the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
Based on geographical analysis, wind turbine market is segmented into North America, Europe, Asia-Pacific, Rest of the World (RoW). North America is further bifurcated in U.S., Canada, and Mexico whereas Europe consist of UK, Russia, Germany, France, Italy, and others. Asia-Pacific is segmented into India, China, Japan, South Korea and others while RoW is bifurcated into South America, Middle East, and Africa.
The key market players operating in the global wind turbine market includes Gamesa Wind Turbines, Suzlon Energy, Inox Wind, Vestas Wind Systems, WinWinD, Enercon, GE Wind, Global Wind Power, Kenersys India, and Pioneer Wincon among others.
The key takeaways from the report
- The report will provide detailed analysis of Wind Turbine Market with respect to major segments such as installation type
- The report will include the qualitative and quantitative analysis with market estimation over 2015-2024 and compound annual growth rate (CAGR) between 2016 and 2024
- Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
- An exhaustive regional analysis of Wind Turbine Market has been included in the report
- Profile of the key players in the Wind Turbine Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Wind Turbine Market
- South Korea
- South America
- Middle East