NEW YORK, Jan. 5, 2018 /PRNewswire/ -- The global market for wind turbine should reach $51.5 billion in 2017 and $71.2 billion by 2022, growing at a compound annual growth rate (CAGR) of 6.7% from 2017 to 2022.
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• North America market for wind turbine should reach $10.5 billion in 2017 and $15.3 billion by 2022, growing at a CAGR of 7.8% from 2017 to 2022.
• Asia-Pacific market for wind turbine should reach $19.6 billion in 2017 and $26.1 billion by 2022, growing at a CAGR of 5.9% from 2017 to 2022.
Chapter 1: Introduction
Study Goals and Objectives
BCC Research's goal in conducting this study was to determine the status of the wind turbine industry of the following four regions: North America, Europe, Asia-Pacific (APAC) and Rest of World (ROW). The report includes a segregation of the industry by application, technology, market type, installation, and component type over the period from 2016 to 2022.
A key objective was to present a comprehensive analysis of the current wind turbine market and its future direction, including the following:
• Wind turbine market analysis by type (by value and volume): independent power producers, investor-owned utilities, public power utilities, and rural electric cooperatives.
• Wind turbine market analysis by application (by value and volume): on grid and off grid.
• Wind turbine market analysis by region (by value and volume): North America, Europe, Asia- Pacific and ROW.
• Wind turbine market analysis by technology (by value and volume): horizontal, vertical and experimental.
• Wind turbine market analysis by installation type (by value and volume): onshore and offshore.
• Onshore wind turbine market analysis by region (by value and volume): North America, Europe, Asia-Pacific and ROW.
• Offshore wind turbine market analysis by region (by value and volume): North America, Europe, Asia-Pacific and ROW.
• Wind turbine component market analysis by region (by value and volume): North America, Europe, Asia-Pacific and ROW.
• Wind tower market analysis by region (by value and volume): North America, Europe, Asia- Pacific and ROW.
• Wind turbine rotor blade market analysis by region (by value and volume): North America, Europe, Asia-Pacific and ROW.
• Wind turbine gearbox market analysis by region (by value and volume): North America, Europe, Asia-Pacific and ROW.
• Wind turbine generator market analysis by region (by value and volume): North America, Europe, Asia-Pacific and ROW.
Reasons for Doing This Study
The wind turbine industry is expanding, in terms of both newly installed turbines and average turbine capacity. This study will take a closer look at the wind turbine installation and purchasing trends in the four regions—North America, Europe, Asia-Pacific (APAC) and Rest of World (ROW)—as well as the growth potential of the wind turbine industry.
This report measures and forecasts the global market for wind turbines. The manufacturing of wind turbines to address global demand has seen strong growth, and this report studies the extent of the manufacturing activity of wind turbines as well as the manufacturing of the many supporting components that BCC Research examined in a previous report on wind turbines. Since this industry is changing rapidly, we wanted to conduct another analysis and project the growth potential of this important market.
This report answers the following 10 key questions:
• Q.1. What are some of the potential, high-growth opportunities for the global wind turbine industry by region, application, technology, market type, installation, and component type?
• Q.2. Which products/segments in the wind turbine industry will grow at a faster pace and why?
• Q.3. Which regions in the wind turbine industry will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics in the wind turbine industry?
• Q.5. What are the business risks and threats in the wind turbine industry?
• Q.6. What are emerging trends in the wind turbine industry and the reasons behind them?
• Q.7. What mergers and acquisition are taking place in the wind turbine industry?
• Q.8. What are the recent developments in the wind turbine industry? Which companies are leading these developments?
• Q.9. Who are the major players in the wind turbine industry?
• Q.10. What is the extent of competitive rivalry and threat of substitution in the wind turbine industry?
Intended Audience This study will be of interest to the following organizations and institutions:
• Wind turbine manufacturers.
• Wind turbine component and equipment providers.
• Wind maintenance and service companies.
• Utilities and wind developers seeking opportunities.
• Financial institutions assessing risk and opportunities.
• Consultancies specializing in the wind industry.
• Renewables policy makers—national or regional.
• Advertising agencies working with clients in the wind energy industry to understand and to develop messages and images that will influence consumers to purchase these products.
Scope of Report
The scope of this study encompasses the major wind turbine markets and their component markets. Each market is analyzed to determine its current status (2016), and the future market is forecast (2017 through 2022).
Technological issues including the latest trends are discussed. Other factors such as rising energy costs, changing government regulations, and improving efficiencies are reviewed. The wind energy industry is evaluated on a nationwide basis, both from a manufacturing and energy capacity point of view.
The report also examines government support and activities of wind industry organizations.
The market size for future onshore and offshore wind power generation has been estimated by studying the possible future technology trends in the market. This report analyzes and forecasts the market volume and revenue for the onshore and offshore wind energy markets and provides an analysis of the market size of wind power in terms of capacity (megawatt, or MW) and revenue in U.S. billion dollars (USD billions).
Estimated values used are based on manufacturers' total revenues. Projected and forecasted revenue values are in constant U.S. dollars, unadjusted for inflation.
BCC Research surveyed approximately 150 companies to obtain data for this study. Included were manufacturers of wind turbines and their components, as well as national wind power organizations.
We also researched wind turbine purchasers in a variety of markets. In addition, we compiled data from current financial and trade information, and government and industry sources, including in large part data from the American Wind Energy Association projects database.
This research project was designed for the purposes of determining the opportunity for the wind turbine industry in the near future. Wind market analysis, trends, and forecast data are estimated to help in making investment, business or strategic decisions.
This study is a culmination of five months of full-time effort performed by BCC Research's analyst team.
Our analysts used the following sources for the creation and completion of this valuable report:
• In-depth secondary research and telephonic interviews with leading players in the wind industry.
• In-depth analysis of financial statements and annual reports of the leading players in the wind industry.
• Extensive search of current published literature, and market and database information including industry news, company press releases, and customer intentions.
• A compilation of the experiences, judgments, and insights of Lucintel's professionals, who have analyzed and tracked the wind industry over the years.
BCC Research collects a significant amount of uninterpreted data from a variety of sources and converts this into intelligent data. The intelligent data is used by our clients for making confident business decisions.
In this report, the geographic regions considered for market analysis include, and only include:
• Rest of Europe.
• PR China.
• South Korea.
• South Africa.
Global Wind Turbine Market, by Market Type (by Value and Volume)
Independent power producers
Public power utilities
Rural electric cooperatives
Global Wind Turbine Market, by Application (by Value and Volume)
Global Wind Turbine Market, by Region (by Value and Volume)
Global Wind Turbine Market, by Technology (by Value and Volume)
Global Wind Turbine Market, by Installation Type (by Value and Volume)
Chapter 2: Summary and Highlights
With rising environmental concerns and increasing government focus on curbing carbon footprints, there has been a surge in demand for alternative sources of energy. To cater to this increasing demand for clean and sustainable energy, there is a dire need to use all renewable sources of energy, including wind.
Globally, wind energy holds a significant share in terms of the energy produced from alternative sources worldwide, and it is expected to grow further in the near future. This, in turn, will increase the demand for wind turbines in the global market.
In 2016, the global wind turbine market was estimated at $46.3 billion. The market is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2017 to 2022 to reach an estimated value of $71.2 billion by 2022. Fluctuating oil prices, strong government support, and growing demand for energy are the primary factors driving the market for wind turbines.
Read the full report: https://www.reportlinker.com/p05264584
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