Onshore Wind Energy Market – Overview

The renewable energy movement is one of the crucial factors adding to the expansion of the onshore wind energy market. Market reports connected to the energy and power industry have been offered by Market Research Future which makes reports on other industry verticals that aims to study the current market scenarios better. The market is expected to capture a 27 % CAGR in the duration of the forecast period.

The rising development of facilities to harness wind energy is proving to be significantly conducive to market growth. The market is also considerably influenced by the need to achieve a levelled cost of electricity. The enhancements in the product lines for wind turbines is expected to motivate the onshore wind energy market further. The market is expected to gain various prospects due to the demand for higher capacity of electricity globally.

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Segmental Analysis

The global onshore wind energy market has been segmented on the basis of application, end-use, grid connectivity, power capacity, wind capacity, and region. The application-based segmentation segments this market into demand responsibility, frequency responsibility, peak power management, power storage, and system stability.

Based on end-use, the market has been segmented into commercial & industrial, hybrid power, utilities, and others. Due to the increasing demand for electricity from the nations, utilities hold the major market share among all segments.

As per grid connectivity, the market has been segmented into on-grid and off-grid. On the basis of power capacity, the market has been segmented into less than 500-kilowatt (KW), 500 KW to 2 megawatts (MW), and more than 2 MW. The wind towers that can generate more than 2 MW are expected to dominate the global market because new technologies are able to generate a high capacity of wind.

Regarding wind capacity, the market has been segmented into low wind speed, medium speed wind, and high wind speed. During the forecast period, the high wind speed projects are expected to dominate the global market because the use of those turbines is increasing that operate individually and generate power of around 2.3 MW.

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Regional Analysis

The analysis on the basis of regions carried out for the onshore wind energy market includes regions such as Europe, North America, Asia Pacific, and Rest of World.

The onshore wind energy market is anticipated to observe remarkable development all through the forecast period.

The Asia Pacific region led the onshore wind energy market globally in 2017. In the Asia Pacific region, factors like the growing installed capacity of electricity along with growing stress on renewable energy in countries such as India, China, and Japan are expected to push the onshore wind energy market development through the forecast period.

The North American and European region is also anticipated to observe noteworthy development through the forecast period. The growing concern for clean energy together with strict regulations for standard power generation is expected to boost the progress of the onshore wind energy market in these regions.

Competitive Analysis

The important contenders shaping the onshore wind energy market globally are General Electric Wind Energy (U.S.), Siemens AG (Germany), Envision energy (China), Suzlon (India), Vestas Wind System A/S (Denmark), Enercon GmbH (Germany) Nordex S.E. (Germany), Repower (Switzerland), Gazelle Wind Turbines (U.K.), Mitsubishi Power Systems (Japan), and Clipper Wind Power (UK) are among others.

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