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The global wind energy market reached a value of US$ 76.17 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 123.24 Billion by 2027, exhibiting a CAGR of 8.10% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Wind energy is a clean and renewable energy source utilized for generating electricity through a wind turbine that converts kinetic energy into mechanical energy. It does not impact the environment like fossil fuels and other conventional energy resources that rely on combustion and emit nitrogen oxide (NO) and sulfur dioxide (SO2). Besides this, as it is sustainable, cost-effective and readily available, wind energy finds extensive applications in the commercial, industrial, and residential sectors worldwide.
There is currently a considerable increase in the adoption of renewable energy sources on account of rising environmental concerns and stringent regulations imposed by governments of various countries. This, in confluence with the surging consumption of energy due to rapid urbanization and significant reliance on electronics, represents one of the key factors impelling the growth of the market. Moreover, wind acts as a convenient resource for generating energy in remote locations wherein conventional power lines cannot be extended. It can also help stabilize the cost of electricity and reduce supply disruptions. Apart from this, improvements in the performance and reduction in the prices of wind power technologies are driving the utilization of wind energy. In addition, the rising need for wind energy is offering numerous long-term employment opportunities in wind turbine component manufacturing, construction and installation, maintenance and operations, legal and marketing services, and transportation and logistics. Besides this, large wind turbines are increasingly being installed in power distribution networks around the world. This, coupled with the rising number of onshore and offshore wind farms, is propelling the market growth. The growing investments in upcoming wind power projects are anticipated to influence the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global wind energy market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, rating, installation, turbine type and application.
Breakup by Component:
Breakup by Rating:
Breakup by Installation:
Breakup by Turbine Type:
Breakup by Application:
Breakup by Region:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ABB Ltd., Ameren Corporation, Avangrid, Inc. (Iberdrola S.A), Dnv (Det Norske Veritas group), Enercon GmbH, General Electric Company, Goldwind, NextEra Energy Resources, LLC, Nordex SE, Siemens AG, Vestas Wind Systems A/S, Wind World (India) Limited and Xcel Energy Inc.
|Base Year of the Analysis||2021|
|Segment Coverage||Component, Rating, Installation, Turbine Type, Application, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||ABB Ltd., Ameren Corporation, Avangrid, Inc. (Iberdrola S.A), Dnv (Det Norske Veritas group), Enercon GmbH, General Electric Company, Goldwind, NextEra Energy Resources, LLC, Nordex SE, Siemens AG, Vestas Wind Systems A/S, Wind World (India) Limited and Xcel Energy Inc.|
|Customization Scope||10% Free Customization|
|Report Price and Purchase Option||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support||10-12 Weeks|
|Delivery Format||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)|
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