The Global Wind Energy market is estimated to be $142.7 billion in 2014 growing at a CAGR of 9.79% to reach $301.3 billion by the year 2022. Wind energy market is expected to drive the market place over next decade due to estimated growth in energy demand. The factors influencing the market growth include environmental friendly and less operating costs. High initial cost is the factor restricting the growth of the market. The offshore market is expected to be the largest market segment.
Global Wind Energy market is segregated by Type, by Turbine material, by Component and by Geography. Based on Type, the market is segmented into offshore and onshore. Based on Turbine material, the market is categorized into Aluminium, Steel and Copper. Based on Components, the market is classified into Generator, Blades, Rotor and Gear-Box. By geography, the market is segmented into North America, Europe, Asia Pacific and Rest of the World. Asia Pacific has the largest market for onshore Wind Energy market and expected to cotinue the steady pace till 2022, followed by Rest of the World.
The Key players in the market include Vestas Wind Systems A/S, GE Energy, Gamesa Corporation Technologica, Suzlon Energy Ltd., Guodian United Power Technology Co., Ltd., ENERCON GMBH, Siemens Wind Power A/S, China Mingyang Wind Power Group Ltd., and Sinovel Wind Co.Ltd.
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