7 January 2019 – The Global Wind Power Equipment Market is expected to display high growth in forthcoming period. Sustainable energy is driving growth in markets with government supporting dominance of hydropower, biomass and wind power and wind turbines are witnessing exponential growth by its low carbon footfalls and eschewing conventional forms of energy generation.
The driving factors for wind power equipment market is a baseline need to replace traditional with renewable energy sources which will drive market growth for industry and take markets into the next decade. Other driving factors for growth of wind power equipment market include economy of operation, less maintenance and long-lasting tenure.
The economical wind turbines are very competitive with power derived by coal-gas combination. The green house impact enhances contributions made to pollution -free air boosting growth in wind power equipment market. Wind power equipment are noisy and irksome while obstructed view targeting individuals living in vicinity are also not unheard of serving as disadvantages of power equipment market.
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Wind power generation has toppled most energy sources to appear as one of the most preferred sources in energy generation with a growing installation base and comparatively low cost entering a phase of successful growth in history of power equipment market. Wind power has given a new lease of life to climate resurrection and with better batteries, solar power and strength of materials, it is a growth story for wind power generation.
Europe has taken over as leading nation in the wind power equipment market and its goal to provide carbonless air in next decade will ensure growth of the market in coming future. India and China are epitomizing growth along Asian pacific corridors with wind power accounting for 2% of total electricity produced in China. Middle East and Africa have been making huge dents in the wind power equipment market and will come to speed with Central and South America by number of installed bases.
Segmentation of wind power equipment market by type of wind farm includes onshore and offshore. BY automation, the wind power equipment industry includes SCADA, PLC, HMI and condition monitoring system (CMS). Segmentation of wind power equipment market by geographical regions include North America, Europe, Asia pacific, MEA and Latin America. The key players in the power equipment market include Phoenix Contact, ABB, Schneider Electric, Eaton, GE, Siemens, Emerson, Sulzer, and VEO.