Global Market Insights provides a detailed overview of Wind Energy Market with respect to the pivotal drivers influencing the revenue graph of this business sphere. The current trends of Wind Energy Market in conjunction with the geographical landscape, demand spectrum, remuneration scale, and growth graph of this vertical have also been included in this report.
The rapidly depleting fossil fuels have led to renewable sources emerging as the savior in global energy industry. Wind energy market, one of the most prominent and pivotal verticals of the energy cosmos, in consequence, is turning out to be a lucrative space for investors, given that the massive climate change crisis has further galvanized the demand for clean and renewable energy. The increasing awareness regarding global warming and the fast depletion of non-renewable energy sources have led to paradigm shift toward sustainability – a trend that has led to wind energy industry capturing substantial attention on a global scale.
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Wind energy being a clean, cost-free, and pollution-free source of energy, is being rapidly exploited across the energy sector. Though the source of the energy is free, the turbine installation and energy conversion and commercial deployment demand quite some expense, on the grounds of which many governments have been offering tax incentives to wind energy market firms. It is noteworthy to know however, that lately, mass production and advancement in technologies is making wind turbines cheaper, further spurring wind energy industry.
Complaints from locals about wind turbines causing visual disturbance and sound pollution has stimulated the offshore wind energy market in recent times. The reduction in installation costs, the presence of high and continual wind speeds, and minimal visual pollution has further encouraged the implementation of offshore wind turbines, thereby stimulating the overall wind energy market growth over 2017-2024.
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Speaking on the regional spectrum, the European continent is anticipated to spring up as one of the most profitable growth avenues for the wind energy market, given the proliferating adoption of renewable energy in the region. The continent is ablaze with a number of decarbonization initiatives to lower CO2 emissions and is governed by a stringent regulatory landscape. The European Union has even enforced directives proposing plans for producing and promoting renewable energy sources in the EU. As per estimates, Europe wind energy market size is expected to register a CAGR of 10% over 2017-2024.
Wind energy converted to mechanical energy is robustly deployed to generate electricity for pumping water, grinding grain, charging batteries, and much more. This massive end-use spectrum is one of the most pivotal factors driving global wind energy industry trends. It is also vital to state that electricity generated through wind energy is increasingly being used to power the residential, commercial and industrial sectors across the world, which has led to energy bills being lowered by 50% to 90%.
A substantially large consumption of electricity in the industrial sector had previously put immense pressure on the world’s fossil fuel reserves. However, with the advent of wind energy, the industrial demand for power has been rapidly bifurcated, thereby impelling wind energy market share from the industrial sector. Wind energy industry size from industrial applications is projected to exceed a commendable valuation by 2024.
Partial Table of Contents (ToC) of the report:
Chapter 4. Wind Energy Market, By Axis
4.1. Global market share by axis, 2016 & 2024
4.2. Horizontal Axis
4.2.1. Horizontal axis market, 2013 – 2024
4.2.2. Horizontal axis market volume by region, 2013 – 2024
4.2.3. Horizontal axis market revenue by region, 2013 – 2024
4.3. Vertical Axis
4.3.1. Vertical axis market, 2013 – 2024
4.3.2. Vertical axis market volume by region, 2013 – 2024
4.3.3. Vertical axis market revenue by region, 2013 – 2024
Chapter 5. Wind Energy Market, By Connectivity
5.1. Global market share by connectivity, 2016 & 2024
5.2.1. On-grid market, 2013 – 2024
5.2.2. On-grid market volume by region, 2013 – 2024
5.2.3. On-grid market revenue by region, 2013 – 2024
5.3.1. Off-grid market, 2013 – 2024
5.3.2. Off-grid market volume by region, 2013 – 2024
5.3.3. Off-grid market revenue by region, 2013 – 2024
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