Countrywind power market, which is estimated to be USD XX billion in 2016, is expected to grow to USD XX billion by 2021, at a CAGR of XX percent.
The increase in the power demand and the constant decline of generation and equipment costs, political commitment and policy targets, are driving the wind energy market. The cost of wind energy from the wind farms is on the fall, which has made the wind power an attractive option for governments aiming towards increasing its power generation sources and to set emission reduction targets. This will in turn enable growth in the wind power industry.
The number of markets where wind competes successfully on price against heavily subsidized conventional fuels, continues to grow. Factors like escalating demand for renewable energy, favourable government policies and decreasing cost of equipment as a result of increasing market size, are driving the wind power equipment market
The fossil fuels availability is one of the main factors that is restraining the growth of this market. The investments required are high and the intermittent nature of the wind power generation makes it unreliable. However, the wind power technology is progressing fast with the increase in the power demand; thus the system is becoming cheaper. Also, the initiatives that are taken for the development of power storage technologies will help solving some of the constraints associated with wind power.
Countrywind power market report comprehensively analyses the market by segmenting it based on location (onshore and offshore) and technology of the wind turbines (horizontal axis wind turbine market and vertical axis wind turbine market). Key drivers and restraints that are affecting the growth of this market are also discussed in detail. This report also has key project information, which includes both pipeline and upcoming projects. The study elucidates on the competitive landscape and key market players (both domestic and foreign) as well.
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