Report Code: A09034 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Wind Electric Power Generation Market
Request Now !Wind power generation refers to the technology of converting the kinetic energy of the wind into electric power through a wind turbine. The installation produces electricity by collecting and transforming wind power into rotational mechanical energy to drive a generating unit. Wind power is a sustainable and renewable energy and it has a much smaller impact on the environment than burning fossil fuels.
Wind power generation is considered as one of the most promising distributed energy resources in the world due to its relatively cheap installation cost.
COVID-19 impact
Wind electric power generation market is anticipated to see lucrative growth in the forecasted period due to its unique properties and several benefits, for instance, no greenhouse gas emission, power supply diversification, and short lead time for planning & construction of wind power projects. These factors are anticipated to bolster the wind electric power generation market. Moreover, government initiatives to support the production and usage of renewable energy in order to save the planet earth by using non-polluting renewable energy production methods is further expected to boost the market in the forecasted period.
Research and development in this sector for the development of more reliable and efficient wind turbines makes wind power more cost-effective and due to all these several reasons, wind electric power generation is driven by public support for it.
Wind electric power generation market is anticipated to see substantial growth opportunity in the future due to technological development and this may decrease the cost of electricity generation using wind energy. However, huge investment for the installation and production of wind turbines restraints the growth of the market. Â Â
The global wind electric power generation market is studied across major four regional markets including North America, Europe, Asia-Pacific, and LAMEA. North America is expected to be the largest market over the coming years in response to the diminishing cost of components. In addition to this, rising domestic turbine manufacture coupled with determined schemes toward capacity addition from sustainable development is further expected to complement the growth of this region. Besides this, Europe is expected to register significant growth due to favorable regulations, decarbonization reforms and energy security initiatives.Â
Key benefits of the report:
Wind Electric Power Generation Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights
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Key Market Players | IBERDROLA Renewables, Pattern Energy, EON Climate & Renewables, Sinovel and Goldwind, EDF, EDP Renováveis, Berkshire Hathaway Energy, Invenergy, Siemens., NextEra Energy |
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