Onshore wind energy is one of the most cost-effective sources of electricity in most countries around the world, and it is a major factor in ushering in a new era in the global energy transition. One of the most environmentally friendly sources of energy is wind power. Wind turbines are used to harness the power of the wind. Wind energy is thus captured and used to generate electricity, which is subsequently utilized to power a variety of devices and equipment. The wind's energy is used to rotate turbine blades, which are attached to a rotor and ultimately to the main shaft. This primary shaft spins a generator, which provides power. The global wind turbine industry is driven by the depletion of natural resources and government attempts to investigate alternate energy sources. Environmental concerns are growing, and countries are attempting to reduce carbon emissions. As a result, people are becoming more interested in renewable energy. Indeed, a rising number of people believe that climate change is the most serious problem the world faces today. Because of technical advancements, the cost of wind-generated electricity is likely to fall in the near future. In comparison to coal, oil, and natural gas, onshore wind is a considerably more environmentally benign energy source. As a result, wind is likely to become a more important source of energy in the next years. Many countries are adopting these solutions, which have been in use for decades and are becoming popular energy sources. Sales of onshore wind energy equipment bring in billions of dollars around the world.
COVID-19 Impact analysis
- The COVID-19 is a sickness that influences individuals from one side of the planet to the other. It's anything but a negative impact on the running of all ventures save the. Pretty much every nation has been set under a highly sensitive situation.
- Following the COVID-19 issue, the worldwide onshore wind turbine market is likely to recover by 2022. There will be moderate but consistent increase till then. Onshore wind turbines will find growing demand in the coming years due to their lower energy usage.
Top Impacting factors
Large new wind turbine devices have been on the market for a while now. Vendors will be able to deliver more wind electricity at reduced prices as a result of them. However, because to the technology required for these devices, as well as transportation and installation challenges, their acceptability is restricted. The adoption of such gadgets is happening, but it should be a gradual, consistent increase rather than a sudden burst. Renewable energy generation can assist countries in achieving their sustainable development goals and targets by providing clean, reliable, secure, and inexpensive electricity. The worldwide wind turbine industry is being driven by a growing focus on environmental sustainability around the world
Market Trends
- Expansion
- Onshore wind energy installed capacity climbed from 177,790 MW in 2010 to 594,253 MW in 2019, according to International Renewable Energy Agency statistics. The infrastructure required to transfer electricity from onshore wind farms is less expensive than that required by offshore wind farms. Furthermore, onshore wind energy is now the cheapest kind of renewable energy in the world.
- Governments around the world, as well as international organizations, are working hard to meet their targets for lowering carbon footprints and greenhouse gas (GHG) emissions. Climate change's more pronounced consequences, along with non-renewable energy sources' finite nature, have made it vital for the globe to secure alternate power sources.
- The demand for wind turbines is rapidly increasing as the world shifts away from climate-damaging, non-renewable fossil fuels and toward clean, renewable energy sources. Rising electricity rates are also increasing demand for more cheap energy from renewable sources, which is propelling the wind turbine market forward.
- Wind speeds are powerful in many places of the world, but distant places are the greatest for producing wind power. As a result, offshore wind power locations have enormous potential, and the category is expected to grow at a significant rate over the forecast period.
Key Benefits of the Report
- This study presents the analytical depiction of the onshore wind turbine industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the onshore wind turbine market share.
- The current market is quantitatively analyzed to highlight the onshore wind turbine market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed onshore wind turbine market analysis based on competitive intensity and how the competition will take shape in coming years
Key Market Segments
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Thailand
- Malaysia
- Indonesia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Argentina
- Rest of LAMEA
- By Capacity
- Less than 1MW
- 1MW to 3MW
- More than 3MW
- By Technology
- Electrically Excited Synchronous Generator
- Permanent Magnet Synchronous Generator
Key Market Players
- M. Torres Olvega Industrial
- Avantis Energy Group
- Emergya Wind Technologies B.V
- S.A., ReGen Powertech Pvt. Ltd
- Goldwind Science & Technology Co. Ltd
- Enercon, Godecke Energy
- Leitwind AG
- Siemens Wind Power A/S
- GE Energy, Northern Power Systems