Wind Power Generation Systems Market Analysis - Global Industry Size, Share, Trends and Forecast, 2018-2025

Published - Sep 2018 | Category - Energy and Power | No. of Pages - 100 | Published By - ARC

Introduction

The terms wind energy or wind power is described as the process by which the wind is used to generate mechanical power or electricity. The wind turns the blades, which spin a shaft, connected to a generator and makes electricity. Wind turbines convert the kinetic energy in the wind into mechanical power. Induction generators, were often used for wind power projects in the 1980s and 1990s, which require reactive power for excitation so substations used in wind-power collection systems include substantial capacitor banks for power factor correction.

Market Drivers

Though modern technology has evolved but still for the wind power we need to rely at the direction of the wind. This is one of the reason for which the global wind power generation systems market is going up and down. The market for wind power generation systems tends to be highly volatile due to its reliance on government incentives. Some of the factors supporting growth include emerging offshore applications and the increasing popularity of systems that are taller, more powerful, and also more expensive. The construction of larger, powerful utility-scale wind turbine systems has caused the average price per unit of these systems to rise dramatically over the past decade.


 

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