Business Model Wind Turbine Industry

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Business Model Wind Turbine Industry
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Increased Government Participation in Emerging
and New Market and Private and Corporate
Participation in Established Markets will Lead
the Growth of Wind Turbine Market. Global wind
turbine market has registered a constant growth
in terms of demand based on cumulative installed
capacity. In 2015, the market achieved its peak
in terms of demand for new wind turbines with
China contributing nearly half of the total
demand. Global demand for new wind turbine has
increased constantly from 2011 to 2015 before
registering a decline in 2016. China has emerged
as the key player which has huge impact on the
global wind turbine market. Since majority of the
demand for wind turbines in China was being met
by domestic companies there was little
penetration of global companies. Region wise,
Asia leads the market followed by Europe and
North America. Contribution from Middle East and
Africa was very low with major contribution
coming from South Africa. China leads the demand
for wind turbine market followed by the US,
Germany and India.
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Onshore wind turbine dominated the market
contributing almost the entire demand for wind
turbine. Demand for offshore wind turbine was on
rise as price of installation and turbines had
fallen significantly in the last five years.
Europe dominates the market in offshore wind
turbines demand with UK leading the market. All
the top five countries on the basis of cumulative
installed capacity in offshore wind turbine
market were from Europe. Vestas was the leading
player in the global wind turbine market with
significant presence outside its home country.
Other major players included Nordex, Enercon, GE
Renewables, Ming Yang, Siemens, Gamesa, GoldWind,
Suzlon, Senvion and RRB Energy. Goldwind was the
leading player in China and was third largest
player (globally) based on cumulative installed
capacity.
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Significant private participation was witnessed
in developed markets such as the US Germany, UK,
and others with corporates playing a very crucial
role. Government is the major investor in
emerging and new markets. Falling LCOE, improved
load factor and improved learning curve has made
the wind energy cheaper than other sources of
energy in many markets such as Germany.
Intermittent power supply and grid related
infrastructure was the key hurdle in development
of wind energy. According to the report Global
Wind Turbine Market by Type (Onshore, Offshore),
by Services and Installation Revenue, Regions,
Installed Capacity Outlook to 2021 by Ken
Research, the market for global wind turbine will
be driven by falling prices of electricty
generation from wind turbines and lower cost of
installation per MW leading to increased
installed capacity.
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Global manufacturers including Siemens Gamesa, GE
and Vestas will develop the majority of projects
and Chinese companies will continue their
dominances in their home country. Investment in
offshore wind projects will gain momentum.
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For more information on the research report,
refer to below link https//www.kenresearch.com/e
nergy-and-utilities/clean-technology/global-wind-t
urbine-market/142273-103.html  Related
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Foster Growth Contact UsKen ResearchAnkur
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