Global Wind Services Market 2018-2022
About this market
Growing number of offshore wind turbines is likely to gain traction in the market. According to IEA, China, Germany, and the UK have been focusing on the development of offshore wind farms to increase their capacity of grid energy storage. The benefits of offshore wind turbines include high wind speed and limited fluctuations in wind speed. Technavio’s analysts have predicted that the wind services market will register a CAGR of more than 12% by 2022.
Rising number of wind turbine installations
The growing levels of CHG emissions due to the use of fossil fuels is increasing the adoption of renewable sources of energy.
Rising demand for solar PV
Solar energy is generated by harnessing heat from the sun to convert into other forms of energy such as heat and electricity. The rising demand for solar PV due to reducing cost is a challenge for the growth of the global wind services market.
For the detailed list of factors that will drive and challenge the growth of the wind services market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including Suzlon Energy and Vestas the competitive environment is quite intense. Factors such as the rising number of wind turbine installations and the growing number of offshore wind turbines, will provide considerable growth opportunities to wind services manufactures. GENERAL ELECTRIC, Nordex, Senvion, Siemens Gamesa Renewable Energy, Suzlon Energy, and Vestas are some of the major companies covered in this report.
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