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The Wind Power Market was worth 292.56 GW in the year of 2012 and is expected to reach approximately 1030.65 GW by 2022, while registering itself at a compound annual growth rate (CAGR) of 13.42% during the forecast period.
Technology, by Application and Segment Forecasts 2012- 2022
The Wind Power Market was worth 292.56 GW in the year of 2012 and is expected to reach
approximately 1030.65 GW by 2022, while registering itself at a compound annual growth rate
(CAGR) of 13.42% during the forecast period.
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The worldwide market for wind control has encountered vigorous development over the most
recent two decades. Governments crosswise over different countries have been supporting the
usage of sustainable energy sources including biomass, solar power, hydropower, and wind
power. Administrative bodies likewise, to diminish carbon impressions and decrease dependence
on customary vitality sources have been advancing force age using wind turbines. The
worldwide market for wind power generation has been encountering superb development rates
since the most recent decade and will keep on doing so finished the conjecture time frame.
Europe rose as the main market for wind power inferable from positive administrative
approaches for the most part in EU-27 nations. Europe's structure enactment and its objective to
lessen carbon impressions by 2020 are anticipated to guarantee constant development of wind
power market in the area.
Major wind power market applications incorporate commercial, residential and industrial.
Industrial applications rule the business, representing 43.6 percent of aggregate market volume in
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2013. These applications are likewise anticipated to encounter most extreme increases in the
upcoming years. Solid administrative support for ventures to use supportable vitality is
anticipated to drive wind power demand. Development in residential applications is anticipated
to be slow because of the high cost of windmills.
Europe was the biggest consumer of twist control till 2012 because of substantial administrative
support from the European Union and national government. Asia Pacific surpassed Europe on
the basis of volume of wind power devoured in 2013. In 2013 Asia Pacific district represented
37.4 percent of aggregate market volume. Asia Pacific market was nearly trailed by Europe. The
Middle East and Africa is anticipated to be the quickest developing regional market for wind
power at a significant pace over the upcoming years. Increasing issues about regular energy
sources has helped this market to develop.
Major Market Players:
The leading players in the Wind Power Market are Vestas, Gamesa Corporación Tecnológica,
Sinovel, Suzlon One Earth, GE Winds, Siemens Wind Power, China Ming Yang Wind Power
Group Limited and Goldwind.
The Wind Power Market is segmented as follows-
By Application: Commercial, Residential, Industrial
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