LONDON, June 15, 2015 /PRNewswire/ -- REPORT HIGHLIGHTS
The global wind energy market was worth $130 billion in 2013 and $165.5 billion in 2014. The market is expected to grow at a compound annual growth rate (CAGR) of 7.2% between 2015 and 2020 resulting in $176.2 billion in 2015 and billion in 2020.
This report provides:
An overview of the global markets for wind energy.
Analyses of global market trends, with data from 2014, estimates for 2015, and projections of compound annual growth rates (CAGRs) through 2020.
Coverage of factors such as rising energy costs, changing government regulations and improving efficiencies.
A look at the industry from a manufacturing as well as an energy capacity point of view.
Consideration of the industry in terms of both onshore and offshore perspectives.
Evaluation of the market's dynamics, specifically growth drivers and inhibitors, as well as opportunities.
Comprehensive profiles of major players in the wind turbine industry.
STUDY GOALS AND OBJECTIVES
Wind energy is a reliable source of generating renewable energy, and has been established as one of the most preferred methods for generating renewable energy in several nations. The wind energy industry's development in the past few years has spurred economic activity, created more jobs and has reduced greenhouse gas emissions. The wind energy industry can be broadly classified into offshore and onshore, and this report focuses on both of those markets. Onshore wind energy technology is a relatively old compared to offshore wind energy technology. Onshore wind technology has achieved a certain degree of maturity, though costs can be reduced through material diversification and technology innovation. Offshore wind energy technology should have a very bright future.
Asia-Pacific is the major market in the onshore wind energy sector, with China and India spearheading growth in the region. Government subsidies and wind energy targets are some of the factors driving investments in the onshore wind energy industry. In European and the North American markets, the growth in onshore wind energy growth has hit a plateau. Europe was once a major center for onshore wind development, but the region is still reeling from the economic crisis. Capacity installations are likely to pick up as the economy recovers further. The U.S. registered a sudden decline in installations in 2013 due to the withdrawal of the production tax credit (PTC) scheme by the government. Brazil is expected to be an attractive market for wind power developers in Latin America. The onshore wind energy industries in Argentina and Costa Rica have exhibited promising development.
The offshore wind industry has the potential to deliver the greatest benefits, with lack of space constraints and higher wind speeds. The offshore wind energy sector is expected to take off in the near future.
REASONS FOR DOING THE STUDY
Wind power usage around the world has been growing at a significant rate in the past few years and has generated considerable interest in industry, government and the public. This study will take a closer look at the wind turbine installation and purchasing trends in some of the countries as well as their growth potential. This report measures and forecasts the global market for wind turbines. The manufacturing of wind turbines to address the global demand has likewise seen strong growth and this report studies the extent of the manufacturing activity of the wind turbines as well as the many supporting components.
SCOPE OF REPORT
The scope of this study encompasses the major wind turbine markets. Each market is analyzed to determine its current status and the future market is forecast for the next five years. 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 reviewed 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 [MW]) and revenue in USD billions. The report analyzes the onshore and offshore wind energy sectors in detail along with data covering five regions: North America, Asia-Pacific, Europe, the Middle East and Africa, and South and Central America.
The regulations prevailing in various countries have been analyzed separately. Turbine cost projections and forecasts have been provided in the report and accounted for while calculating revenue figures. The market share of major companies is provided in the report based on turbine capacities supplied by them.
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