Global onshore wind market is expected to grow at a faster pace shortly, the main reasons being increased context of energy supply, and demand and rising demand for renewable energy in electricity generation mix. Global Wind Energy Council has estimated that there has been an increase of wind power from 92.4 GW in 2007 to 494.6 GW in 2017. This proves the promising future of wind power in the near future. Besides the increasing projects in the construction of wind farms and wind parks is driving the market for onshore wind energy market. More wind farm projects from U.S. and China are witnessing the growth of wind power.
However, higher outputs from offshore wind farm and more focus on offshore wind projects, is restraining the onshore wind energy market.
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Global onshore wind energy market is segmented based on power capacity, wind capacity, end-use, application, grid connectivity, and regions. Based on the wind capacity segment, the market is classified as high wind speed, medium wind speed, and low wind speed. Among these the high wind speed projects are expected to dominate the market as there are turbines, which operate individually and generate power of around 2.3 MW. On the basis of power capacity the market is segmented on the basis of generation capacity of the wind towers, such as, less than 500 KW, 500 KW to 2 MW, and more than 2 MW. The wind towers generating more than 2 MW, hold a major market share supported by the fact that new technologies are able to generate high capacity of wind. On the basis of end-use the market is classified as, Utilities, Hybrid power, Commercial & Industrial, and others. Utilities are the prime shareholder as there is increasing demand for electricity from the nations. Based on application, the segments are, system stability, peak power management, frequency response, demand response, and power storage. With increasing demand of electricity in peak hours and peak seasons, the demand is fulfilled by the electricity generated by onshore wind farms and thus peak power management application is expected to dominate the market. On the basis of grid connectivity, the market is classified as off-grid and on-grid. By region type, the market is segmented into the four geographies of North America, Europe, Asia Pacific, and Rest of World.
Onshore wind energy market is anticipated to have huge growth over the forecast period by continuously innovating in technology coupled with more demand for wind farms construction and increasing demand for electricity. The market is also expected to have high expansion and technological activities by major players in the industry.
Global Onshore Wind energy market is expected to expand at ~27% CAGR during the forecast period.
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The demand for clean energy resources is increasing owing to the increased demand for electricity, and upcoming regulations unfavorable 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 large-scale projects of power generation through wind farms and wind parks is expected to boost the onshore wind energy market.
Asia-Pacific onshore wind energy market dominates the global market due to the rising demand for energy and the highest focus on renewable sources. The factors for the growth of onshore wind energy market are enormous in the emerging economies of the region. Furthermore, the region is experiencing rapid industrialization and urbanization, which accounts for higher demand for electricity. The countries such as China, India, and Japan and Singapore are the most populated countries and are planning clean energy generation. Besides, there is a high potential of wind energy source from the Southeast Asian countries
Market Research Analysis
Utilities by end-use, on-grid by connectivity, Peak power management by application and high wind speed by wind capacity are expected to hold the largest shares and expand the highest CAGR over the forecast period.
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. Onshore wind energy helps manage the power distribution at those hours making it the most dominating segment. Onshore wind energy generated is both off grid and on grid. Between these, on-grid segment is more dominating due to the fact that most electricity connections are connected to grid as power infrastructure is increasing at an exponential growth. The market is segmented as high wind speed, medium wind speed and low wind speed on the basis of wind capacity. The high wind speed project accounts for the largest number of projects as they are capable of generating power of high capacity.
Scope of the Report
This study provides an overview of the global Oil and Gas Waste Heat Recovery market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the oil and gas waste heat recovery market by its sector, by application, by equipment, by end-user and by region.
Commercial & Industrial
Peak power management
By Power capacity
Less than 500 KW
500 KW to 2 MW
More than 2 MW
By Grid connectivity
By Wind capacity
High wind speed
Medium speed wind
Low wind speed
Rest of the World
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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