The global wind turbines market value is estimated to be $47.83bn in 2022, up from $44.75bn in 2017, largely driven by onshore deployment, according to GlobalData, a leading data and analytics company.
The company’s latest report ‘Wind Turbines, Update 2018 Wind Turbines, Update 2018 - Global Market Size, Competitive Landscape and Key Country Analysis to 2022’ reveals that the buoyancy in the market is largely due to the global investment trends in renewable energy to address power sector challenges. Amongst established renewable energy technologies, solar and wind are prevalent due to the availability of resources across the world. Power sectors in countries are moving towards improving energy security, self-sufficiency, and addressing climate change issues; driving the utilization and deployment of clean energy technologies such as wind as a power generation source.
In the forecast period, Asia-Pacific is expected to lead the market value, with an aggregate of $93.85bn, followed by EMEA with an aggregate market value of $88.77bn. However, EMEA is expected to outrun Asia-Pacific in terms of market value for offshore wind installations.
GlobalData | http://www.globaldata.com