Factors favouring the market growth are increasing demand for renewable energy coupled with rising awareness towards environmental conservation. Furthermore, national targets for clean energy along with ongoing depletion of fossil fuel reserves are considered as the major opportunities for the growth of the market. However, with continuous technological innovations, their costs are coming down which results in hampering the market growth. —
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Wind energy is a form of solar energy. Wind energy (or wind power) describes the process by which wind is used to generate electricity. It's a clean fuel source. Wind energy doesn't pollute the air like power plants that rely on combustion of fossil fuels, such as coal or natural gas, which emit particulate matter, nitrogen oxides, and sulfur dioxide—causing human health problems and economic damages.
Based on axis, horizontal axis segment is projected to be the fastest growing segment due to improved operational performance statistics when compared to its competitive counterparts veritably justifies the product penetration. By capacity, 30 kW < 500 kW segment is expected to dominate the market owing to increasing demand for small-scale renewable technologies across commercial establishments coupled with rising need for clean energy mix.
By geography, the North America is considered as the largest market share during the forecast period due to increasing domestic turbine production along with ambitious targets toward capacity addition from renewable will foster the market growth.
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Some of the key players in wind energy market include General Electric, Invenergy LLC, Vensys Energy, Geronimo Energy, ReGen Powertech, Vattenfall AB, NextEra Energy Inc., Doosan Heavy Industries & Construction, Suzlon Energy Limited, ABB Limited, Ørsted, Northland Power Inc., Enercon, Senvion S.A., EDP Renewables, ABO Wind, Acciona Wind Energy, Gamesa Wind, Jacobs Wind Electric and Envision Wind.
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• Vertical Axis
• On Grid
• Off Grid
• <30 kW
• 30 kW < 500 kW
• 500 kW < 2 MW
• ≥2 MW
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
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