Westford,USA, Jan. 03, 2024 (GLOBE NEWSWIRE) -- According to SkyQuest report, the global wind energy market is experiencing robust growth driven by a growing awareness of the urgent need to address climate change and reduce greenhouse gas emissions. Governments, organizations, and individuals increasingly recognize the imperative of transitioning to renewable energy sources such as wind power to mitigate the environmental consequences of traditional fossil fuel-based electricity generation.
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Browse in-depth TOC on the "Wind Energy Market"
- Pages - 157
- Tables - 62
- Figures – 75
The wind energy market's primary objective is to address two critical global challenges simultaneously. Firstly, it strives to provide a sustainable and renewable energy source to diminish the world's reliance on finite fossil fuel reserves. This transition is vital in reducing the environmental impact of extracting and burning fossil fuels, as it curtails harmful greenhouse gas emissions responsible for climate change. Secondly, the wind energy market seeks to foster the widespread adoption of wind energy technologies to meet the ever-growing global demand for electricity in the wind energy market.
Report Scope & Segmentation:
| Attributes | Details |
| Market Size in 2022 | USD 80.42 Billion |
| 2030 Value Projection | USD 160.24 Billion |
| CAGR | 9% |
| Forecast Period | 2023-2030 |
| Segments Covered |
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| Regions Covered |
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Prominent Players in Global Wind Energy Market
- Vestas Wind Systems A/S
- Siemens Gamesa Renewable Energy
- General Electric Company
- Nordex SE
- MingYang Smart Energy Group Co., Ltd.
- Goldwind Science & Technology Co., Ltd.
- Enercon GmbH
- Envision Energy
- Suzlon Energy Limited
- Senvion S.A.
- Sinovel Wind Group Co., Ltd.
- Guodian United Power Technology Company Ltd.
- GE Wind Energy
- Xinjiang Goldwind Science & Technology Co., Ltd.
- Gamesa Corporation Tecnológica
- Shanghai Electric Group Company Limited
- United Power
- Mingyang Group Co., Ltd.
- Siemens AG
- Clipper Windpower, LLC
Industrial Segment is Expected to Rise Significantly due to Rising Demand for Electricity
Industrial sector stands as a substantial and vital end-user of wind energy. The electricity demand is significant to power their extensive operations in the wind energy market within this sector, encompassing manufacturing plants, factories, and industrial complexes. Wind energy emerges as an ideal and sustainable solution to meet these energy requirements efficiently.
The market in North America emerges as a highly promising segment in the forecast period within the global wind energy market. The United States presents substantial opportunities for wind energy expansion owing to a rising demand for electricity.
Commercial Segment is Expected to Dominate Market due to High Energy Consumption
Commercial sector encompasses a diverse array of establishments, including office buildings, retail stores, hotels, and hospitals, all of which share a common characteristic: high energy consumption. Many commercial establishments are turning to wind energy solutions to address this energy demand sustainably and economically in the wind energy market.
Regional market in Asia-Pacific region has firmly established itself as a prominent player in the global wind energy market, consistently leading in revenue share. The region is poised for sustained growth in the foreseeable future, and this can be attributed to the proactive measures and initiatives undertaken by governments across the continent to bolster energy infrastructure.
A comprehensive analysis of the major players in the wind energy market has been recently conducted. The report encompasses various aspects of the market, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments in the Wind Energy Market
- In 2022, Siemens Gamesa clinched a contract to provide 79 units of its SG 5.0-155 wind turbines for the Beo Wind Farm in Serbia. This project is poised to impact substantially, boasting an impressive total capacity of 158 MW. It represents a crucial step in Serbia's pursuit of renewable energy goals, as the wind turbines will harness the region's wind resources to generate clean electricity, reducing its reliance on conventional fossil fuels.
- Vestas recently made an important announcement regarding an order for 76 MW of wind turbines destined for the Mokhovskaya wind project in Ukraine. This project promises to contribute significantly to Ukraine's renewable energy objectives, providing a substantial source of clean and sustainable power.
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Key Questions Answered in the Wind Energy Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market's future growth?
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