Wind Turbine Market Annual Installations Will Surpass 70 GW by 2024 | Vestas, GE, Nordex Group, Senvion and 16 Other Companies Profiled

SELLBYVILLE, Del., Oct. 9, 2018 /PRNewswire-PRWeb/ -- Global Wind turbine market revenue will register 6% CAGR to cross USD 70 Billion by 2024, as reported in the latest study by Global Market Insights, Inc. Rising energy demand from private wind farm projects and utility aided sustainable establishments has positively influenced the industrial regime, across the globe. The major concern for industrial participants and utilities is to maintain a balance between the demand and supply of these units which in turn has intensified investments toward the improvement of renewable power generation technologies.

Ability to produce power in turbulent conditions coupled with easy operational activities and low maintenance costs are some of the essential features reforming the horizontal axis wind turbine market share. In addition, effective feasibility across residential applications with low rated capacity observed by positive consumer outlook will nourish the vertical axis unit deployments.

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Adoption of technologies pertaining to distributed generation across aging energy applications will fuel the > 2 MW wind turbine market share. Improved efficiency, cost competitiveness, low emissions favored by enhanced technological proximity are few significant parameters driving the adoption of these units. Furthermore, the current technological development including enhanced efficiency and flexibility of recuperated and un-recuperated units will further sway the industry outlook.

Offshore deployments are predicted to surpass USD 16 Billion by 2024. Long term integration targets along with positive regulatory inclination will drive the global market dynamics. Cost effectivity and higher operational efficiency are some of the imperative parameters which will positively influence the industry growth. Improved plant performance statistics in comparison to the available counterparts will further sway the technological demand.

The off-grid wind turbine market is poised to grow pertaining to operative & economic feasibility in distant areas in comparison to the grid connected power networks. Governmental schemes pertaining to the rural electrification program coupled with growing adoption of microgrid power networks will further enhance the business growth. Low installation cost along with government schemes & incentives including net metering and FiT will boost the on-grid product demand. Rapid development of utility-based electricity deployments to cater growing energy demand across industrial & residential areas will further stimulate the industry growth.

Browse key wind turbines market insights from the 2018 report spread across 800 pages offering 1696 market data tables as well as 13 figures & charts along with the table of contents:

Europe market is projected to beat an annual installation of 20 GW by 2024. Cost efficiency, low carbon emission when compared to conventional energy sources and competitive generation tariffs are few imperative parameters influencing the technological adoption. In 2017, Europe installed 16.8 GW addition capacity of wind power, with 3,154 MW from offshore and 12,484 MW from onshore installation.

20 companies active and profiled in the wind turbine market research include Vestas, Enercon, General Electric, Siemens Gamesa, Nordex Acciona, Senvion, Goldwind, MHI-Vestas, United Power, Suzlon, Envision Energy, Wobben, Mingyang, WEG SA, Clipper, Impsa, LM Windpower, Bergey, Northern Power Systems, and Enessere.

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