Dublin, June 19, 2024 (GLOBE NEWSWIRE) -- The "Airborne Wind Energy Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
World revenue for Airborne Wind Energy Market is set to surpass US$174.8 million in 2024, with strong revenue growth through to 2034.
Government policies and regulatory support are critical drivers for the global airborne wind energy (AWE) market. Many governments worldwide are enacting policies to promote renewable energy sources, including wind energy. These policies often come in the form of subsidies, tax incentives, and grants that reduce the financial burden on companies investing in AWE technologies.
For instance, the European Union has been a strong proponent of renewable energy, setting ambitious targets for reducing carbon emissions and increasing the share of renewable energy in the overall energy mix. The EU's Horizon 2020 program has funded several AWE projects, providing significant financial support for research and development. Similarly, in the United States, the Department of Energy offers various grants and incentives for innovative renewable energy technologies, including AWE. This regulatory support not only makes it financially viable for companies to develop and deploy AWE systems but also signals to investors that there is a stable and supportive policy environment for long-term investments.
The high cost associated with building and installing wind turbines poses a significant restraining factor for the wind energy market. Wind turbines, particularly large-scale commercial ones, entail substantial upfront investment, with costs ranging from millions to tens of millions of dollars per turbine. For instance, the manufacturing and installation of a powerful 12 MW offshore wind turbine can amount to as much as $400 million. This cost escalates with the size of the turbine, further exacerbating financial barriers to entry for wind energy projects. Despite advancements in technology and economies of scale, the average cost per megawatt (MW) of electricity-producing capacity remains significant, typically ranging between $2.6 to $4 million.
Key Market Dynamics
Market Driving Factors
- Companies Focused to Enhance Airborne Wind Energy
- Renewable Energy Reduced Lifecycle Emissions
- Technological Advancement Driving the Market Growth
Market Restraining Factors
- High Cost of Building and Installing Turbines Hinder the Market Growth
- Regulatory and Siting Concerns of Airborne Wind Energy Hinder the Market Growth
- Safety and Reliability of Airborne Wind Energy Hinder the Market Growth
Market Opportunities
- Investment from Government and Market Player Opportunities for the Market
- Collaboration and Partnership Between Market Players
- Geographical Expansion of Market Opportunities for the Market
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising airborne wind energy prices and recent developments.
Segments Covered in the Report
Market Segment by Application
- Onshore
- Offshore
Market Segment by Power Generation Capacity
- Small-scale Systems (Below 100 kW)
- Medium-scale Systems (100 kW-1 MW)
- Large-scale Systems (Above 1 MW)
Market Segment by Component
- Airborne Wind Turbines
- Ground Station
- Tether
- Other Components
Market Segment by Technology Type
- Kite-based Systems
- Balloon-based Systems
- Glider-based Systems
- Aircraft-based Systems
- Other Technology Type
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets.
The report also includes profiles and for some of the leading companies in the Airborne Wind Energy Market, with a focus on this segment of these companies' operations.
Leading companies profiled in the report
- Alphabet Inc.
- Ampyx Power
- Aviantis Energy Group
- Ecoloop
- Enercon
- EnerKite
- Envision Group
- General Electric Company
- Goldwind Science & Technology
- KiteGen Venture
- Kitemill
- Kitenerg
- Kitepower
- KiteX
- Nordex
- NTS Energie- und Transportsysteme
- Siemens Energy
- SkySails Power
- Suzlon Energy
- TwingTec
- Vestas Wind Systems
- Windswept and Interesting Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/cpup4t
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