Dallas, TX -- (SBWIRE) -- 04/01/2019 -- "Wind power is obtained by harnessing the kinetic energy created by the air in motion and then transforming it into electrical energy. This is done using wind turbines or wind energy conversion systems. The global energy system is disrupted by renewable energy sources assisted by the tremendous fall in the cost of generation of electricity from these sources."

Global Wind Energy Market analysis indicates the dominance of onshore capacity installation and also estimates the sustained dominance during the forecast period. Wind farms installed with several wind turbines generate electric energy by converting the kinetic energy in the wind. Utility scale turbines ranging from 100 kilowatts to as large as several megawatts are grouped together in the wind farms.

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Wind Energy Market: Key Players are Acciona, Enel Green Power, ENGIE, Vattenfall, Ørsted A/S, and NRG Energy, Inc. These players own large wind farms and invest heavily in setting up new wind farms or acquiring a stake in local wind farms with a view to increasing their power generation capacity.

Global Wind Energy Market size is estimated to reach up to USD 320.61 billion by 2025 driven by the declining cost of electricity generation, thereby facilitating a high rate of wind capacity installation globally. The presence of a large base of experienced and internationally active project developers is another prime factor accelerating the development of wind technologies. The market growth is primarily accelerated by the rising number of wind farm installation both offshore and onshore.

Global onshore wind energy installations stood at over 90% in 2017, as the cost reduction for every doubling of cumulative capacity is estimated to be around 21%. This cost advantage has prompted heavy investment into the onshore wind installation projects. However, during the forecast period, the offshore wind installation are expected to maintain a higher CAGR owing to the Wind Energy Market policy support, technology advances and a rapidly maturing supply chain. This is turning offshore wind an increasingly viable option for harnessing the more consistent and higher wind speeds available offshore.

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Wind Energy Market: Segmentation

Installation Type Overview, 2015-2025 (GW) (USD million)
- Onshore Installation
- Offshore Installation

Turbine Size Overview, 2015-2025 (GW) (USD million)

- Small Wind
- Large Wind

Turbine Type Overview, 2015-2025 (GW) (USD million)
- Horizontal Axis
- Vertical Axis

Regional Overview, 2015-2025 (GW) (USD million)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle-East & Africa

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About Adroit Market Research
Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market's size, key trends, participants and future outlook of an industry. We intend to become our clients' knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.