Market Updates Wind Power Systems Market Size, Growth, Analysis, | Page 2

European region has emerged as the leading market for wind power systems due favorable government policies via
tax cuts, subsidies and discounts, majorly in EU-27 economies. Great efforts are made to limit carbon footprints with
the help of regulatory framework and new legislations, to ensure sustainable growth of wind power systems market
in the region.
The market is broadly categorized into major segments based on application type such as industrial sector, residential
sector and commercial sector. Industrial segment is growing rapidly in the wind power systems market with substantial
revenue generation in the last few years. Growing popularity of wind power systems in industrial segment is attributed
to the strong regulatory support for sustainable energy for industrial applications.
The market is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has
shown major growth in recent years owing to the rise in implementation of latest technologies in power & energy
generation sector, surge in research & development activities in the region and existence of well-established industrial
infrastructure. The market is expected to gain a higher momentum in European region due to favorable government
laws & regulation and shifting trend towards renewable energy generation.
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Asia-Pacific region is estimated to hold major share in the wind power system market with massive growth in forecast
period. Countries such as India, South Korea, Japan, Australia, China and Singapore are leading the Asia-Pacific market
with strong economic growth, rising energy demands, growing concerns related to air pollution, limited availability of
natural gas reserves, and significant investment by leading industry players considering potential growth opportunities
in the region.
The key players in the wind power systems market are General Electric Company, Nexans S.A., Prysmian Group, Inc.,
Siemens Gamesa Renewable Energy S.A., Vestas Wind Systems A/S, Xinjiang Goldwind Science & Technology Co., Ltd.,
Suzlon Group Ltd., Goldwind, Inc., and United Power, Inc.
Market Segment:
The major manufacturers covered in this report
• GENERAL ELECTRIC
• Nexans
• Prysmian Group
• SIEMENS GAMESA RENEWABLE ENERGY