Kenneth Research, in its repository of market research reports, has recently added a report on Wind Turbine Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Wind Turbine Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Wind Turbine Market products.
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According to the statistics by the World Bank, exports of fuel increased from 12.91% of merchandise exports in 2001 to 14.25% of merchandise exports in 2018. Additionally, imports of fuel registered a growth by 1.28x between the years 2001 and 2018. In 2001, the import of fuel was 10.30% of merchandise exports whereas in 2018, it was 13.19% of merchandise exports. On the other hand, the increasing focus of the players in the energy and power industry to lower their cost of operations so as to enhance their profitability, is also anticipated to contribute to the market growth. The natural gas rents, which is defined as the difference between the total cost of production of natural gas and the production value at world prices, decreased significantly from 0.40% of GDP in 2001 to 0.18% of GDP in 2017. Alternatively, the oil rents, which increased from 1.09% of GDP in 2001 to 1.30% of GDP in 2019, portrays the need amongst the players to enhance their focus in reducing the cost of production of oil.
Global Wind Turbine Market was valued at USD 49,882.36 million in the year 2018. Global Wind Turbine market is expected to grow owing to a number of factors including climate concern reducing CO emission, abundant availability of wind energy, growing need to use renewable resources for clean energy, improving policies like auctions and utilise the fullest capacity of wind energy available on earth.
Global Wind Turbine Market is primarily driven by growing need for clean energy, innovations in Wind turbine, new technology to improve efficiency, the climate concern in developed countries with developing countries also adopting renewable sources, supportive policies like FITs (feed in tariff), PPAs (power purchase agreement) for renewable sources, auctions and other mechanisms.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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The APAC region holds the largest market of Wind Turbine Market and is estimated that it will continue to dominate the market share in the forecast period.
Scope of the Report
Global Wind Turbine Market (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Wind Turbine Market – Size, Growth, Forecast
• By Wind Farms (Onshore & Offshore)
• By Components of wind Turbine (Rotor Blades, Gearbox, Tower, Others)
Regional Wind Turbine Market – Americas, Europe, Asia Pacific, Middle East & Africa (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Wind Turbine Market – Size, Growth, Forecast
• By Wind Farms (Onshore & Offshore)
• By Components of wind Turbine (Rotor Blades, Gearbox, Tower, Others)
Country Analysis – U.S., Canada, Mexico, Brazil. Germany, France, U.K, Japan, India, South Korea, China (Actual Period: 2014-2018, Forecast Period: 2019-2024)
• Wind Turbine Market – Size, Growth, Forecast
• By Wind Farms (Onshore & Offshore)
• By Components of wind Turbine (Rotor Blades, Gearbox, Tower, Others)
Other Report Highlights
• Market Attractiveness Charts
• Competitive Landscape
• Leading Companies
• Market Dynamics – Drivers and Restraints.
• Market Trends
• SWOT Analysis.
• Porter Five Forces
• Company Analysis – Vestas, Siemens Gamera Renewable Energy, Nordex SE, GE, Goldwind, Senvion S.A, Suzlon, Sinovel, Envision, Enercon
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Customization of the Report
The report could be customized according to the client’s specific research requirements. No additional cost will be required to pay for limited additional research.
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