Wind Energy Market Growth, Drivers, Demand, Merger, Acquisition, SWOT Analysis by 2027

The global Wind Energy Market will be worth USD 167.15 Billion by 2027, according to a current analysis by Emergen Research. The growth of this market can be attributed to the rapid urbanization coupled with the rising demand for electricity in the developing economies. Rising initiatives of the government to increase the adoption of sustainable sources of power generation such as solar energy and wind energy in order to reduce the emission levels and enhance the quality of air is anticipated to drive the growth of the segment.

The latest report has been drafted, keeping in mind the current COVID-19 situation many vital aspects of the global Wind Energy market on both global and regional levels. The research focuses on the significant market changes that followed the COVID-19 outbreak. The report offers an accurate estimation of the market value, size, and revenue share in the post-COVID-19 scenario, alongside encapsulating the present and future effects of the pandemic. The report further details the key points of the Wind Energy market, including the latest market standards, regulations, and policy changes imposed by the government for the upcoming years.

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Key Highlights From The Report

· In February 2019, Vestas entered into a partnership with a local manufacturing service provider, Marand Precision Engineering, for Wind Turbine Assembly Facility in Geelong. The partnership will help Vestas to expand its wind turbine assembly in the Victorian renewable energy sector.

· Onshore wind farms held the largest market share of 60.5% in the year 2019. The advantages of the onshore wind farms, such as low maintenance costs, cheaper integration and foundation, and easier access and operations, have resulted in the increased demand for the onshore wind farms.

· The industrial segment is forecasted to grow with the fastest CAGR of 7.1% over the forecast period due to increasing preferences of the industries towards cleaner sources of energy in order to reduce their dependency on fossil fuel-based power generation.

· The Asia Pacific region is expected to be the fastest-growing region over the forecast period due to the growing initiatives and funding of the government to adopt renewable sources of energy in order to generate electricity.

· Key participants include Nordex SE, Acciona, Goldwind, General Electric, Vestas, Siemens Gamesa Renewable Energy, S.A., Sinovel Wind Group, Suzlon Energy Limited, ENERCON GmbH, and Dongfang Electric Corporation, among others.

Market Segmentation:

Emergen Research has segmented the global Wind Energy Market on the basis of Location, Application, and region:

· Location Outlook (Revenue, USD Billion; 2017-2027)

o Offshore

o Onshore

· Application Outlook (Revenue, USD Billion; 2017-2027)

o Commercial

o Industrial

o Residential

Regional Bifurcation:

· North America

· Latin America

· Europe

· Asia Pacific

· Middle East & Africa

Focal Points of the Global Wind Energy Market Report:

· Market Coverage: This section of the report covers significant details on the key manufacturers, vital market segments, product innovation scope, and the forecast years. Additionally, it describes in detail the range of the product and the global Wind Energymarket segmentation based on product type and application spectrum.

· Executive Summary: In this chapter, the global market growth rate, competitive landscape, drivers and constraints, trends, limitations, and the key market segments have been discussed at length.

· Regional Analysis: The report offers meaningful insights into the import and export trends, production and consumption capacities, estimated revenue share, and key players of each region dominating the market

· Competitive Landscape:The report also discusses the course of development of each market player in this industry vertical during the forecast period. It further details on the firms, industries, organizations, vendors, and local manufacturers engaged in this industry. The leading products and services to gain global and regional market shares form the competitive landscape of the Wind Energy industry.

· Manufacturers’ portfolios: This section includes detailed information regarding the product portfolio of each local and global manufacturer, their strengths and weaknesses, product profiles, production value and capacity, and other vital information.

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