Onshore Wind Energy Market Share, Sales Revenue, and Regional Analysis 2023
Posted by Anvi on March 27th, 2020
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.
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.
The global Onshore Wind Energy Market Share 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.
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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About the AuthorAnvi
Joined: October 25th, 2019
Articles Posted: 461
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