Onshore Wind Energy Market Business Opportunities, Growth Rate, Current Trends, Market Challenges | Industry Analysis Report Forecast to 2023

Onshore Wind Energy Market, predicted to grow at more than 27% by 2023
The prime objective of Onshore Wind Energy Market is to help the user understand the market in terms of its definition, segmentation, market potential, influential trends, and the challenges that the market is facing.

Market Highlights: –

Wind power is the electricity generated from the wind energy which is converted into electrical energy with the help of rotors and generators. Since the growth of renewables is maximum in the current scenario, wind energy is gaining attention from power generators. Wind energy has capability to generate a higher capacity of electricity than other renewable sources. Wind farms and wind parks are created to optimize the wind energy to the maximum and generate approximately 6 to 8 MW of power. For instance Gansu Wind Farm of China has the capacity to produce 6.8 MW of power. Innovation in the wind turbine sector is shaping the onshore wind energy scenario with focus on Leveled Cost of electricity. Siemens has come up with a direct drive concept of wind energy, which has fewer components and consequently cuts down the costs of maintenance.

Key Players: –

  • Siemens AG 
  • Envision energy
  • General Electric Wind Energy 
  • Suzlon 
  • Vestas Wind System A/S 
  • Enercon GmbH 

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Scope of the Report: –

This study provides an overview of the global Oil and Gas Waste Heat Recovery market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the oil and gas waste heat recovery market by its sector, by application, by equipment, by end-user and by region.

By End-Use

  • Utilities
  • Commercial & Industrial
  • Hybrid power
  • Others

By Application

  • Peak power management
  • System stability
  • Demand responsibility
  • Frequency responsibility
  • Power storage

By Power capacity

  • Less than 500 KW
  • 500 KW to 2 MW
  • More than 2 MW

By Grid connectivity

  • Off-grid
  • On-grid

By Wind capacity

  • High wind speed
  • Medium speed wind
  • Low wind speed

By Regions

  • North America 
  • Asia Pacific 
  • Europe
  • Rest of the World  

Segments: –

Global onshore wind energy market is segmented based on power capacity, wind capacity, end-use, application, grid connectivity, and regions. Based on the wind capacity segment, the market is classified as high wind speed, medium wind speed, and low wind speed. Among these the high wind speed projects are expected to dominate the market as there are turbines, which operate individually and generate power of around 2.3 MW. On the basis of power capacity the market is segmented on the basis of generation capacity of the wind towers, such as, less than 500 KW, 500 KW to 2 MW, and more than 2 MW. The wind towers generating more than 2 MW, hold a major market share supported by the fact that new technologies are able to generate high capacity of wind. On the basis of end-use the market is classified as, Utilities, Hybrid power, Commercial & Industrial, and others.

Market Research Analysis: –

Utilities by end-use, on-grid by connectivity, Peak power management by application and high wind speed by wind capacity are expected to hold the largest shares and expand the highest CAGR over the forecast period.

Global onshore wind energy market has been segmented on the basis of end-use, application, grid connectivity, power capacity, wind capacity and region. Based on end-use, the market is further segmented into utilities, commercial & industrial, hybrid power and others. Among these, the utilities segmented are expected to hold major market share. Since utilities are responsible to provide the electricity supply from the demanding sectors. There has been sharp increase in demand for electricity from last decade from the growing economies, thus utilities require more and more power to match the demand. Peak power management segment commands the largest market share by application type, the main reason being shortage of electricity during peak hours. Industries and factories need electricity during fixed working hours, which creates demand for energy during those hours.

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