The
global wind
power systems market is expected to display higher growth rate over the
next five years. Rapid surge in the wind power system market is credited to
rising energy demand and shifting trend towards renewable energy. Growing
demand to substitute conventional sources of energy with renewable energy is
expected to drive the growth of the market over the forecast period. Globally,
market is predicted to generate massive revenue over next five years, providing
numerous opportunities for market players to invest for research and development
in the wind power systems market.
Favorable
government policies to promote use of renewable energy sources such as solar
power, hydropower, wind power and biomass is anticipated to offer lucrative
growth opportunities for market players over the forecast period. Implication
of various regulatory reforms to limit carbon footprints and reduce dependency
on conventional energy sources is promoting power generation with the help of
wind turbine systems. However, higher initial cost of generating electricity
from renewable energy sources in comparison with conventional sources is
predicted to restrain market growth to a certain extent. Yet, rise in number of
research & development activities to develop cost efficient solution,
particularly in European and Asia Pacific region is fostering industry
expansion in the past few years.
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European
region has emerged as the leading market for wind power systems due favorable
government policies via tax cuts, subsidies and discounts, majorly in EU-27
economies. Great efforts are made to limit carbon footprints with the help of
regulatory framework and new legislations, to ensure sustainable growth of wind
power systems market in the region.
The
market is broadly categorized into major segments based on application type
such as industrial sector, residential sector and commercial sector. Industrial
segment is growing rapidly in the wind power systems market with substantial
revenue generation in the last few years. Growing popularity of wind power
systems in industrial segment is attributed to the strong regulatory support
for sustainable energy for industrial applications.
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Market Segment:
The major manufacturers covered in this
report
•
GENERAL ELECTRIC
•
Nexans
•
Prysmian Group
•
SIEMENS GAMESA RENEWABLE ENERGY
•
Vestas
•
Xinjiang Goldwind Science & Technology
Geographically, this report studies the
top producers and consumers, focuses on product capacity, production, value,
market share and growth opportunity in these key regions, covering
•
North America
•
Europe
•
China
•
Japan
•
Southeast Asia
•
India
We can also provide the customized separate
regional or country-level reports, for the following regions:
•
North America
•
United States
•
Canada
•
Mexico
•
Asia-Pacific
•
China
•
India
•
Japan
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