Global Wind Power Equipment Market - Market Analysis by Geography, by Deployment Location Competitive Landscape, Key Company Information - Growth Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 127 | Published By - Mordor Intelligence

Report Highlights

Global wind power equipment market is estimated to increase from $61.32 billion in 2014 to $82.18 billion in 2022 with a CAGR of 5.01 percent.

Wind power is the second largest source, next to hydropower, for renewable electric power generation. Western Europe is the leading market for wind power equipment with Spain and Germany being the major markets in the region. Asia pacific region is one of the fastest growing regions for wind power equipment market with wind power adoption increasing in countries like China and India. North America and East and South-East Asia appear to have the upper hand in terms of new installations work as they gradually catch up with the head start made in Western Europe.

Factors like escalating demand for renewable energy, favorable government policies and decreasing cost of equipment as a result of increasing market size are driving the wind power equipment market. On flip side, high initial costs, unpredictable nature of winds, low wind energy penetration ratio and capacity factors are hampering the market. Technological advancements are expected to improve the performance of aero foil powered generators in near future which can boost the market. Moreover, there are plenty of opportunities in offshore wind energy sector.

This report comprehensively analyzes the Wind Power Equipment market by segmenting it based on geography and deployment location (onshore and offshore). Key drivers and restraints that are effecting the growth of this market were discussed in detail. The study also elucidates on competitive landscape and key market players.

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