Wind Energy Market is to reach USD 9599.3 Million by 2028 with a CAGR of 4.7% | Valuates Reports

USA - English

• India - English

BANGALORE, India, July 27, 2022 /PRNewswire/ -- Wind Energy market is segmented By Type (Turbine Blade, Electricity Generator, Tower, Control Equipment, Other), Segmented By Application(Power Plants, Street Lamp, Other) : Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Energy & Utilities Category.

Wind Energy market  is estimated to be worth USD 7287.2 Million in 2022 and is forecast to be a readjusted size of USD 9599.3 Million by 2028 with a CAGR of 4.7% during the review period.

Major Factors Driving the Growth of Wind Energy Market

The shift towards renewable energy sources for meeting global electricity consumption, rising fossil fuel prices, and favorable government initiatives to reduce carbon emissions will drive the growth of the market during the forecast period.

The increasing production capacity of wind turbines, technological developments in wind generation, and lower operational costs will surge the market demand in the coming years.

Get Your Sample Today:

https://reports.valuates.com/request/sample/QYRE-Othe-0Z343/Wind_Energy_Industry

TRENDS INFLUENCING THE GROWTH OF THE WIND ENERGY MARKET

The growing world population and integration of the global economy are leading to a larger demand for electricity. Countries are shifting to wind energy due to rising fuel and oil prices. Wind power is pollution free and leads to stable electricity generation. Wind turbines do not consume water, and have a shorter energy payback system along with lesser time to market. This is fueling the growth prospects of the wind energy market. It is abundantly available and requires no extraction thereby decreasing environmental costs. 

Countries around the world are setting ambitious decarbonization plans to reduce carbon emissions globally. Many federal and state authorities have announced production tax credits, renewable portfolio standards, and net metering policies to ensure sustained global wind energy market growth. Long-term RES targets support commercial renewable energy projects.

Wind turbines are getting taller, helping power producers make wind economical in many locations. The greater the radius of rotor blades the more wind power it can access. In turn, the torque becomes efficient in powering the electricity generators. This augments the demand for the wind energy market. Turbines can be installed on existing farms or ranches. Power plant owners make rental income to farmers thereby providing landowners an additional income stream.

Continuous technological developments are aiding offshore wind turbines. They have become lightweight, and durable which reduces the need for recurring maintenance and repairs. The higher tensile strength and lower blade loads maximize the power conversion efficiency. This in turn brings down the operational costs in the long term. The preference for turbines will thereby push the prospects of the global wind energy market forward. As the electricity is sold at a fixed price and the fuel is free it mitigates the price uncertainty.

The excess energy generated during peak hours can easily be stored through electrical batteries that are well suited to trickle charging and have high electrical output efficiency. This ensures a reliable energy supply even during harsh weather conditions.

Wind turbine applications require larger capital investments. The enormous costs include turbine installation, foundation, grid connection, control systems, land, road construction, and electrical installation. These challenges will hamper the progression of the wind energy market during the forecast period. Additionally, the unpredictability of weather patterns will provide extra issues.

Browse The Table Of Contents And List Of Figures At: https://reports.valuates.com/market-reports/QYRE-Othe-0Z343/wind-energy-industry

WIND ENERGY MARKET SHARE ANALYSIS:

Based on type, the turbine blades segment will dominate in the wind energy market share owing to the increasing efficiency of turbine blades, technological advancements in turbine manufacturing, and reduction in operational costs.

Based on region, North America will be the most lucrative due to the rapid expansion of infrastructural projects and favorable government policies.

Get Regional Data:

https://reports.valuates.com/request/regional/QYRE-Othe-0Z343/Wind_Energy_Industry

Key Companies:

• Aegis Wind
• Ainscough Wind Energy Services
• Areva Wind
• Aris Wind
• Berkshire Hathaway Energy
• Broadwind Energy
• China Ming Yang Wind Power Group
• Clipper Windpower
• Dewind
• Enercon
• Envision Energy
• Siemens(Gamesa)
• Ge Wind Energy
• Mapna
• Vestas

Inquire for Chapter Cost:

https://reports.valuates.com/request/chaptercost/QYRE-Othe-0Z343/Wind_Energy_Industry

Buy Now for Single User + Covid-19 Impact :  

https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Othe-0Z343&lic=single-user

SUBSCRIPTION

We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans.

SIMILAR REPORTS:

• The global virtual power plant market was valued at USD 1.3 Billion in 2019 and is projected to reach USD 5.9 Billion by 2027, growing at a CAGR of 21.3% from 2020 to 2027.
• The global solar energy market size was valued at USD 52.5 Billion in 2018 and is projected to reach USD 223.3 Billion by 2026, growing at a CAGR of 20.5% from 2019 to 2026.
• Small Wind Turbine market size is estimated to be worth USD 229 million in 2022 and is forecast to be a readjusted size of USD 624.6 million by 2028 with a CAGR of 18.2% during the review period.
• The global Solar Panel Cleaning Equipment market was valued at USD 109 million in 2020 and it is expected to reach USD 283 million by the end of 2027, growing at a CAGR of 14.9% during 2021-2027.
• The global Solar Street Lighting market size is estimated to be worth USD 6720.6 million in 2022 and is forecast to a readjusted size of USD 17240 million by 2028 with a CAGR of 17.0% during the review period.
• In 2020, the global Silver Paste market size was USD 4701 million and it is expected to reach USD 12350 million by the end of 2027, with a CAGR of 14.8% during 2021-2027.
• The global Small Wind Power market was valued at USD 675.6 million in 2020 and it is expected to reach USD 1688.6 million by the end of 2027, growing at a CAGR of 13.8% during 2021-2027.
• The global Residential Energy Storage market size is projected to reach USD 13910 million by 2027, from USD 6716.5 million in 2020, at a CAGR of 12.9% during the forecast period 2022-2027.
• Energy Management Software market size is projected to reach USD 69300 million by 2027, from USD 33200 million in 2020, at a CAGR of 10.6% during 2021-2027.
• The global PV Water Pumps market size is estimated to be worth USD 912.4 million in 2022 and is forecast to be a readjusted size of USD 1706.6 million by 2028 with a CAGR of 11.0% during the review period.
• The global Building Energy Management System (BEMS) market size is projected to reach USD 8279.8 million by 2026, from USD 4341.6 million in 2020, at a CAGR of 11.4% during 2021-2026.
• The global Power Optimizer market size is estimated to be worth USD 1035.9 million in 2022 and is forecast to be a readjusted size of USD 1528.7 million by 2028 with a CAGR of 6.7% during the review period.
• The global Solar Panel Recycling market size is projected to reach USD 312.6 million by 2028, from USD 157.9 million in 2021, at a CAGR of 10.1% during 2022-2028.
• The global renewable energy market was valued at USD 881.7 billion in 2020, and is projected to reach USD 1,977.6 billion by 2030, growing at a CAGR of 8.4% from 2021 to 2030.
• The global energy as a service market size was valued at USD 54.4 billion in 2020 and is projected to reach USD 112.7 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 7.6% from 2021 to 2030.
• The global Thermal Energy Storage (TES) market size is projected to reach USD 6019.7 million by 2028, from USD 3817.1 million in 2021, at a CAGR of 6.3% during 2022-2028.
• Global Biogas Market Outlook 2022
• Global Residential Solar Energy Storage System Market Insights and Forecast to 2028
• Global Silicon Based Solar Panel Recycling Market Insights, Forecast to 2028
• Global Blockchain in Energy Market Size, Status and Forecast 2022-2028

Click here to see related reports on Wind Energy Market

ABOUT US:

Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs.

Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs.

To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources.

CONTACT US:

Valuates Reports
[email protected] 
For U.S. Toll-Free Call 1-(315)-215-3225
For IST Call +91-8040957137
WhatsApp: +91-9945648335
Website: https://reports.valuates.com
Twitter - https://twitter.com/valuatesreports
LinkedIn - https://in.linkedin.com/company/valuatesreports

Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg

SOURCE Valuates Reports