Vertical Axis Wind Turbine Market - Rising Investments in Renewable Energy to Drive Growth| Technavio

The global vertical axis wind turbine market is expected to grow at a CAGR of close to 15% during the period 2018-2022, according to a new market research study by Technavio.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180219005155/en/

The report presents a comprehensive research of the global vertical axis wind turbine market by product (darrieus type and savonius type) and by end-user (non-residential and residential). The report also determines the geographic breakdown of the market in terms of detailed analysis and impact, which includes key geographies such as APAC, the Americas, and EMEA.

This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing

Save more with Technavio. Buy 2 reports and get the third for FREE: View all Technavio’s current offers

Market driver: rising investments in renewable energy

A positive consequence of reduced carbon emissions is the growth in the clean energy technology. The transition from fossil fuels and conventional sources of energy to renewable sources such as wind and solar is the key to achieve social, economic, and environmental development. In 2016, it was estimated that the global investments in renewable energy were over USD 300 billion. But, the investment was lower than 2015 due to the reduced cost of components required for the installation of renewable systems. With the advances in renewable technology, the overall capital expenditure required per MW of power generation reduces.

Looking for more information on this market? Request a free sample report

Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.

Market trend: adoption of hybrid street lighting system

Street lighting is provided by local power utilities, and a considerable amount of money is being spent to light up streets and public places to ensure visibility during the night and keep pedestrians safe. This has been leading to increased energy bills for the local municipalities, which use off-grid systems. A standalone renewable system from a single source of renewable is insufficient because of the intermittent nature of the energy source.

According to a senior analyst at Technavio for power research, “To harness renewable power from the locally available resources, renewable sources are being used with fossil fuel generators or other renewables to provide stable, reliable, and consistent power. Solar-wind hybrid streetlight is a small scale, intelligent, and off-grid LED street light system. In a solar-wind street light, the battery would be charged by solar during the day to provide power during the night, and the wind power will charge the battery during the night when the solar energy is not present.”

Market challenge: competition from alternate sources of energy

Wind energy has been facing competition from other sources of energy such as fossil fuels, solar, and hydropower. Though the installation of wind energy systems costs lesser than solar PV systems, the competition in emerging markets such as Chile and Mexico is high. Furthermore, in windy places such as Argentina, the prices of solar PV have reduced significantly enough to compete with wind energy prices.

Is your business on track for a successful future? Learn how Technavio can help

Technavio helps businesses anticipate changes in their marketplace, make proactive adjustments, and develop effective strategies to optimize their market positions.

Big savings with Technavio this February!

Get 20% OFF on all Education Technology reports. This offer is valid only till the 28th of this month.

OR

Celebrate winter sports with 23% OFF on all reports in the Outdoor Gear library (Offer valid from Feb 9-25).

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20180219005155/en/