Onshore Wind Turbine Market

Report Includes:

• An overview of the global market for onshore wind turbines
• Analyses of global market trends, with market data from 2019, estimates for 2020 and projections of compound annual growth rates (CAGRs) through 2025
• Insight into how technology and market development will create additional revenue and new product categories or bring new life to existing products

Many factors are driving increased energy demands across the globe. Urbanization is impacting impoverished areas in Africa, Asia, and South America. Concerns about the environment are growing and countries are trying to lower carbon emissions. As a result, interest in renewable energy is increasing. In fact, there is a growing chorus that considers climate change the most significant problem the world faces today. Onshore wind is a much more environmentally friendly energy source than alternatives such as coal, oil and natural gas. Consequently, the wind is expected to become a more significant energy contributor in the coming years. These solutions have been used for decades and are becoming popular energy sources in many countries. Onshore wind energy equipment sales generate billions in revenue globally. Long-term contracts ensure that revenue will continue to flow in the coming years.

Large new wind turbine devices have been making their way to market. They offer vendors the opportunity to deliver more wind power at lower rates. However, the technology needed for these devices, and their transportation and installation hurdles, means there is limited acceptance. The adoption of such devices is taking place but should be a slow, steady growth rather than a dramatic surge.