Research Nester released a report titled “Wind Turbine Generator Market: Global Demand Analysis & Opportunity Outlook 2029” which delivers a detailed overview of the global wind turbine generator market in terms of market segmentation by type, application, and region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The wind turbine generator market is projected to grow with a moderate CAGR during the forecast period, i.e., 2021-2029 on account of the rising wind energy consumption and supportive regulatory policies for wind energy projects.
The market is segmented by application into onshore and offshore. Among these two segments, the wind turbine generator market vendors are anticipated to grab business opportunities from the onshore segment as it needs lesser capital investment as compared to the offshore segment.
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On the basis of region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, out of which, the wind turbine generator market in the Asia Pacific is projected to grow at the highest CAGR throughout the forecast period. APAC will register the highest growth rate among the other regions as the APAC wind turbine generator market is expected to reap profitable business opportunities for the vendors during the forecast period. The increased focus of countries in the region towards renewable energy such as wind power is one of the vital factors driving the market’s growth. China and India will be the major revenue contributors to the market in APAC in the coming years.
Rising Wind Energy Consumption to Drive the Market Growth
The essential factors propelling the wind turbine generator market growth are: rise in wind energy consumption and R&D in direct-drive generators for wind turbines.
The governments are supporting wind energy projects through policies such as feed-in tariffs policy. It will encourage technological investments related to renewable energy generation, which in turn will affect the global wind turbine generator market positively. The increasing awareness of utilizing wind energy and hydropower usage as a source of renewable energy across various countries will drive the market’s growth.
“The Final Report will cover the impact analysis of COVID-19 on this industry.”
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This report also provides the existing competitive scenario of some of the key players of the global wind turbine generator market which includes company profiling of ABB Ltd. (SWX: ABBN), AVANTIS Energy Group, Bora Energy, General Electric Co. (NYSE: GE), Sany Group Co., Ltd (SHA: 600031), Siemens AG (ETR: SIE), Sinovel Wind Group Co Ltd, Suzlon Energy Ltd (NSE: SUZLON), and Vestas Wind Systems A/S (CPH: VWS). The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global wind turbine generator market wind turbine generator market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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