Global Onshore Wind Energy Market: Cost-effectiveness and Large-scale Production of Wind Energy Augur Well for Global On
The global onshore wind energy market has a fairly consolidated vendor landscape, with the top ten companies holding about 73.5% of the market in 2013. Among these, the top five players currently leading the market are Vestas Wind System A/S, Goldwind Science & Technology Co., Ltd., Siemens Wind Power, Enercon GmbH, and Suzlon Group.
Nevertheless, TMR forecasts the global onshore wind energy market to reach US$898 bn by the end of 2020, from a valuation of US$189.4 bn in 2014. The market is thus likely to exhibit a robust CAGR of 29.6% between 2014 and 2020. Regionally, Asia Pacific dominated the market with a share of 38.1% in 2014.
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For companies operating in China, the year 2013 has proven exceptionally good in terms of added capacity, which catapulted the China-based OEM companies to a better position in the global ranking. Goldwind for instance was able to capitalize on the country’s favorable environmental policies and reach to a higher installed capacity in 2013. However, a contraction in the western markets, primarily the US, pushed many turbine manufacturers down in the ranking list. Spurred by these factors, several industrial giants were compelled to cancel their expansion plans.
With Improved Cost-effectiveness, Onshore Wind Energy Market Emerging as Lucrative Business
In the last couple of years, the wind industry has improved its cost-effectiveness and has become a lucrative business. This, combined with the decreasing cost due to the large-scale production of wind equipment and the advent of innovative generator and turbine technologies will steer growth of the onshore wind energy market in the forthcoming years.
Meanwhile, as governments worldwide decide on aggressive renewable capacity addition targets for wind energy, the onshore wind energy market is likely to report simultaneous growth. Mandatory renewable energy targets are enforced on power utilities to enable governments purchase specific proportions of their energy sales from non-conventional sources within a specific time period. With nations increasing their wind energy targets, numerous organizations are prompted to accelerate their investment in the technology.
The aforementioned factors, compounded with low risk of technology failure, are boosting investors’ confidence on onshore wind energy.
Need for Sprawling Areas Creates Difficulties in Getting Construction Clearance, Thus Hinders Market’s Trajectory
“Low tolerance for noise and visual impact of wind turbines are inhibiting the market’s trajectory to an extent,” said a lead TMR analyst. Onshore wind energy firms are not built in a densely populated areas unlike other renewable energy plants. People living in close proximity of onshore wind firms often complain about noise pollution created by turbines. Furthermore, because of being spread across sprawling areas, developers often have to struggle with getting construction clearance compared to other renewable technologies such as biomass or solar energy. This poses significant challenge to the key players in the market.
Design Innovation Using Alternative Material Could Fuel Installation of Onshore Wind Energy Towers
As manufacturers explore alternative materials for producing vital components of wind technology, they are expected to improve efficiency of onshore wind turbines, besides ascertaining cost-effectiveness. If built using alternative materials, such as concrete, it could be possible to install towers more than 100-meter in height, enabling them take advantage of steadier and stronger wind, and finally boosting overall output.
The report segments the global onshore wind energy market as:
Global Onshore Wind Energy Market, By Geography:
North America
Asia Pacific
Europe
Middle East and Africa
South and Central America
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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Nevertheless, TMR forecasts the global onshore wind energy market to reach US$898 bn by the end of 2020, from a valuation of US$189.4 bn in 2014. The market is thus likely to exhibit a robust CAGR of 29.6% between 2014 and 2020. Regionally, Asia Pacific dominated the market with a share of 38.1% in 2014.
Interpret a Competitive outlook Analysis Report with PDF Brochure : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=15
For companies operating in China, the year 2013 has proven exceptionally good in terms of added capacity, which catapulted the China-based OEM companies to a better position in the global ranking. Goldwind for instance was able to capitalize on the country’s favorable environmental policies and reach to a higher installed capacity in 2013. However, a contraction in the western markets, primarily the US, pushed many turbine manufacturers down in the ranking list. Spurred by these factors, several industrial giants were compelled to cancel their expansion plans.
With Improved Cost-effectiveness, Onshore Wind Energy Market Emerging as Lucrative Business
In the last couple of years, the wind industry has improved its cost-effectiveness and has become a lucrative business. This, combined with the decreasing cost due to the large-scale production of wind equipment and the advent of innovative generator and turbine technologies will steer growth of the onshore wind energy market in the forthcoming years.
Meanwhile, as governments worldwide decide on aggressive renewable capacity addition targets for wind energy, the onshore wind energy market is likely to report simultaneous growth. Mandatory renewable energy targets are enforced on power utilities to enable governments purchase specific proportions of their energy sales from non-conventional sources within a specific time period. With nations increasing their wind energy targets, numerous organizations are prompted to accelerate their investment in the technology.
The aforementioned factors, compounded with low risk of technology failure, are boosting investors’ confidence on onshore wind energy.
Need for Sprawling Areas Creates Difficulties in Getting Construction Clearance, Thus Hinders Market’s Trajectory
“Low tolerance for noise and visual impact of wind turbines are inhibiting the market’s trajectory to an extent,” said a lead TMR analyst. Onshore wind energy firms are not built in a densely populated areas unlike other renewable energy plants. People living in close proximity of onshore wind firms often complain about noise pollution created by turbines. Furthermore, because of being spread across sprawling areas, developers often have to struggle with getting construction clearance compared to other renewable technologies such as biomass or solar energy. This poses significant challenge to the key players in the market.
Design Innovation Using Alternative Material Could Fuel Installation of Onshore Wind Energy Towers
As manufacturers explore alternative materials for producing vital components of wind technology, they are expected to improve efficiency of onshore wind turbines, besides ascertaining cost-effectiveness. If built using alternative materials, such as concrete, it could be possible to install towers more than 100-meter in height, enabling them take advantage of steadier and stronger wind, and finally boosting overall output.
The report segments the global onshore wind energy market as:
Global Onshore Wind Energy Market, By Geography:
North America
Asia Pacific
Europe
Middle East and Africa
South and Central America
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
US Office Contact
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com