The Wind Turbine Market is Segmented by Axis Type (Horizontal {Up-wind, Down-wind}, Vertical), by Installation Type (Onshore, Offshore), by Connectivity Type (Grid Connected, Stand Alone), by Rating Type (100 KW, 100KW to 500KW, 500KW to 2MW, and Above 2MW), by Application Type (Utility, Industrial, Commercial, and Residential), by Component Type (Rotor Module, Nacelle Module, and Tower Module), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).

What is a Wind Turbine?

Wind turbine is the mechanical device used to convert kinetic energy generated from the wind to electric energy. Thus, offering renewable source of power generation.

Wind turbine can be installed at onshore and offshore locations. Due to high speed of wind at offshore location, it is reliable and efficient source for wind turbine installation. However, higher cost of installation reduces the number of installations compared to onshore application. 

Market Insights

Wind Turbine market is likely to witness an impressive CAGR of 7.2% during the forecast period. Rising demand for replacing conventional source of energy with clean and renewable source of energy to reduce global warming caused by pollution is likely to create enormous demand for the wind turbine market over the next five years.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Wind Turbine market analysis report discusses the following heads in details:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• COVID-19 Impact Assessment.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players
• Key success factors.

Regional Analysis

In terms of regions, Asia-Pacific is estimated to be the largest market and is also expected to witness the highest growth in the market fueled by high demand in China, India and Japan. The dominance of the region is attributed to the presence of large number of wind turbine installers across the region. Out of the top fifteen wind turbine manufacturers in the world, eight are from China.

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