Onshore Wind Energy Market Scenario

The global onshore wind energy market is expected to expand at 27% CAGR during the forecast period. The demand for clean energy resources is increasing owing to the increased demand for electricity, and upcoming regulations unfavourable to conventional sources of energy. The continuous exploitation of renewable energy source has resulted in a higher number of wind energy projects around the globe. Innovation in the technology of wind turbines and wind parks has also added value to the onshore wind energy market.

The power industry is the backbone of all the industries and the effects of urbanization and industrialization, are increasing the demand for power at a fast rate. For increasing the electricity installed capacity, power industry is shifting toward efficient, reliable and abundant sources that would consume less fuel and give higher energy.

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Industry Segmentation

Global onshore wind energy market has been segmented on the basis of end-use, application, grid connectivity, power capacity, wind capacity and region.

Based on end-use, the market is further segmented into utilities, commercial & industrial, hybrid power and others. Among these, the utilities segmented are expected to hold major market share. Since utilities are responsible to provide the electricity supply from the demanding sectors. There has been sharp increase in demand for electricity from last decade from the growing economies, thus utilities require more and more power to match the demand. Peak power management segment commands the largest market share by application type, the main reason being shortage of electricity during peak hours. Industries and factories need electricity during fixed working hours, which creates demand for energy during those hours.

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Regional Outlook

The global Onshore Wind Energy market is segmented into four prominent regions of Asia Pacific, North America, Europe, and Rest of the World. Asia Pacific region accounted for the largest share of the Onshore Wind Energy market in 2017, wherein China was the largest country-level market followed by India, and Japan, followed by the prominent Southeast Asian countries, which have huge wind energy potential such as Vietnam, Cambodia, Myanmar, Philippines, and Thailand. Increased demand for electricity, and energy transition towards renewable energy along with huge potential in the region have resulted into a remarkable growth for Onshore Wind Energy. Asia-Pacific Onshore Wind Energy market is anticipated to have the highest CAGR during the forecast period.

Leading Players

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

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