Wind Energy Market worth $180 billion by 2027, Says Global Market Insights Inc.

Wind Energy Industry is set to register over 4% CAGR between 2021 and 2027, propelled by strict governmental policies toward limiting the GHG emissions from energy sector.

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Selbyville, Delaware, April 13, 2021 (GLOBE NEWSWIRE) --

The wind energy market value is projected to cross USD 180 Billion by 2027, as reported in the latest study by Global Market Insights Inc. Growing investments toward renewable addition in the energy mix coupled with stringent emission norms will proliferate the business outlook.

≤ 2 MW wind energy plants segment is anticipated to witness a noteworthy deployment owing to the ongoing influx of investments across the residential and commercial sector. High efficiency and low operating cost are few of the prominent factors complementing the deployment of these units across small-scale industries. Moreover, increasing infrastructural development of restaurants and other commercial establishments will positively impact the adoption of ≤ 2 MW capacity plants across these buildings in the forecast period.

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Offshore wind energy market is anticipated to witness a substantial growth on account of availability of uniform wind flows and high efficiency across the oceans. Rising industry expertise pertaining to the offshore wind farm installations coupled with ongoing efforts to enhance the product life cycle will stimulate the segmental growth of the market over the forecast timeline.

Easy availability of raw materials coupled with ongoing technological advancements across the support structure components will fuel the product penetration across the globe. Moreover, increasing investments in R&D activities by the component manufacturers to enhance the efficiency of the overall plant will further augment the business outlook across the globe.

Some major findings of wind energy market report include:

  • Rapid urbanization and industrialization across developing nations will propel the wind energy industry demand.
  • Burgeoning electricity demand across the globe is anticipated to boost the technology deployment.
  • Rising investments across clean energy sector will enhance the industry outlook.
  • Ongoing adoption of off grid & distributed energy systems will stimulate wind energy technology demand.
  • Key players operating across the wind energy industry are Suzlon, Siemens, MHI Vestas, EOLINK, Sinovel Wind Group Co., Ltd. and Goldwind amongst others.  

Browse key industry insights spread across 1160 pages with 1887 market data tables & 81 figures & charts from the report, “Wind Energy Market Statistics By Rating (≤ 2 MW, >2≤ 5 MW, >5≤ 8 MW, >8≤10 MW, >10≤ 12 MW, > 12 MW), Component (Turbine, Support Structure, Electrical Infrastructure, Others), Installation (Onshore, Offshore), Application (Utility, Industrial, Commercial, Residential), Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2021– 2027” in detail along with the table of contents:

Residential sector is set to witness a growth in deployment of wind energy on account of favourable governmental policies for the adoption of renewable technologies. Growing disposable income coupled with rising consumer awareness toward clean energy adoption will further complement the product adoption.

North America wind energy market will see a noteworthy growth in the coming years on account of rapid technological advancements in the region coupled with growing demand for sustainable energy technologies. The respective governments across the region have introduced strict regulations to curb the carbon footprint, which will favour the wind energy penetration.

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Browse Related Report:

Wind Turbine Market By Installation (Onshore, Offshore), Axis (Horizontal {Up-wind, Down-wind}, Vertical), Connectivity (Grid Connected, Stand Alone), Rating (< 100 kW, 100 kW to 250 kW, > 250 kW to 500 kW, > 500 kW to 1 MW, 1 MW to 2 MW, > 2 MW), By Application (Utility, Industrial {Manufacturing Industries, Process Industries, Chemical Industries}, Commercial {Education, Office, Government/Military}, Residential), Component (Rotor Module, Nacelle Module, Tower Module) Industry Analysis Report, Regional Outlook, Competitive Market Share & Forecast, 2018 – 2024

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.


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