The global Wind Power Market is projected to grow at a higher CAGR during the forecast period. The drivers for wind power market include rise in government support for renewable sources of energy coupled with inception of government subsidiaries for setting up wind turbines.
In addition, the market closely observes a rise in demand for wind power sources due to environmental awareness and active participation by users. The market trend entails innovative approach in the end-user market, as there are lucrative opportunities from the customer end for setting up of wind energy sources.
By type, the segmentation for wind power market entails vertical axis wind turbine and horizontal axis wind turbine. By installation, the segmentation includes on-grid and off-grid. Application category for wind power industry is bifurcated as small-scale industries and domestic.
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Geographical segmentation for wind power market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions are likely to gain a higher traction due to government support for renewable forms of energy and setting up of wind turbines in the offshore areas. Development of onshore sites are now gaining traction due to instant approvals.
North American and European markets are likely to gain a significant CAGR due to inclination toward green energy and renewable forms. Rise in consumer spending is a major trend witnessed in U.S. and European regions. Middle East and African market will gain a positive traction due to untapped potential in these markets.
The key players in the wind power industry include Northern Power Systems Inc, Bergey Wind Power Co, Xzeres Wind Corporation, Unitron Energy, Aeolos Wind Energy Co Ltd, Qingdao Windwings Wind Turbine Co Ltd, Buildmet Technologies Pvt Ltd, Advanced Bolting Solutions Ltd, AE Wind Systems, Sauer Energy Inc, WINPhase Energy Inc, Hefei Wind Wing Energy Technology Co Ltd., and Willgain Power Industry Co Ltd.
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Wind Power Application Outlook (Volume, Giga Watt; 2012 – 2020)
Wind Power Regional Outlook (Volume, Giga Watt; 2012 – 2020)
• North America
• Asia Pacific
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/renewable-energy
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