Wind Power Market: Overview, Forecast and Analysis Report update 2016-2021

Global wind power market is segmented on the basis of type and geography. Wind power is the use of air flow through wind turbines to mechanically power generators for electric power. Wind power, as an alternative to burning fossil fuels is plentiful, renewable, and clean, widely distributed, produces no greenhouse gas emissions during operation, consumes no water and uses little land. The net effects on the environment are far less problematic than those of nonrenewable power sources. Wind farms consist of many individual wind turbines which are connected to the electric power transmission network.

Onshore wind is an inexpensive source of electric power, competitive with or in many places cheaper than coal or gas plants. Offshore wind is steadier and stronger than on land, and offshore farms have less visual impact, but construction and maintenance costs are considerably higher. Small onshore wind farms can feed some energy into the grid or provide electric power to isolated off-grid locations.

Stringent government rules and regulations and increasing usage of the clean energy are some of the key drivers of the global wind power industry market. However, huge amount required carrying out the maintenance process of turbine and other equipments can hamper the growth of the market. Large numbers of opportunities are there for the wind energy market owing to the increase in the pollution level and respiratory problems from conventional fuels. The offshore wind market in the U.S. is still testing the frequency of offshore water. Majorly, the promising offshore wind market is in Japan that has huge potential to tap wind energy.

Strong regulatory support and active participation from financers are important to increase the share of renewable energy investments in developing economies such as India and China. Also, ensuring that the solar and wind industries are taking important lessons from each other experience can help both the markets to grow at a healthy rate in the coming years in the wind power industry.

Financing in wind energy sector is mainly balance sheet financing as credit period from private investors has been extended to the wind power projects on the basis of the balance sheet strength from the developer rather than the creditworthiness of the project. However, with the rise of the new financial policies, financial institutions have started considering non-recourse financing.

On the basis of type, the global wind power industry market is segmented into offshore and onshore. On the basis of geography, the global wind power industry market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East & Africa. The fastest growing region would be Asia Pacific, with per year installations is expected to outpace Europe. Asia Pacific will be at 183 GW installed capacity followed by Europe at 144 GW and American (North & South) at 105 GW.

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