Onshore Wind Energy Market Segment Forecasts up to 2020 oct 2016 | Page 2

Onshore Wind Energy Market

REPORT DESCRIPTION

Transparency Market Research has released a new market report titled “Onshore Wind Energy Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020.” According to the report,
the onshore wind energy market was valued at USD 89.3 billion in 2013 and is anticipated to reach USD
898.0 billion in 2020, expanding at a CAGR of 29.6% from 2014 to 2020.

Browse the full Onshore Wind Energy Market report at :
http://www.transparencymarketresearch.com/wind-energy-wind-turbine-market.html

Wind energy is a relatively mature source of generating renewable energy. Wind has been established as
one of the most preferred methods for generating renewable energy in several nations. The wind industry’s
rapid development in the past few years indicates its significant potential to create jobs, spur economic
activity and reduce greenhouse gas emissions. Onshore wind energy is a relatively old technology. It is one
of the most developed methods used to generate renewable energy currently. Both project development
experience and technology maturity for the onshore wind energy sector is high. The high technology
maturity component is one of the primary factors driving the adoption of onshore wind energy. A large
number of project developers operate in the market. These are duly supported by policy frameworks
established by national governments. This helps reduce business risks and strengthens investor confidence
in the renewable energy sector. The technology has achieved a certain degree of maturity; however, there
is still ample scope for cost reduction through material diversification and technology innovation.

Currently, Asia Pacific is the major market in the onshore wind energy sector, with China and India
spearheading growth in the region. Supportive government subsidy schemes and renewable energy
installation targets are some of the major factors driving investments in the onshore wind energy industry.
China led the onshore wind energy market, with record installations of 16030 MW in 2013. In relatively
mature markets such as Europe and the U.S., the growth in onshore wind energy installations has hit a
plateau. Europe was once a major centre for onshore wind development. However, the region is still reeling
from the economic crisis. It is struggling to maintain its renewable energy subsidy bills. Germany and the
U.K. accounted for over 65% of annual installations in Europe in 2013. Strong strategic targets for capacity
additions under the European directive are still in force in the region. Capacity installations are likely to
pick up as the economy recovers further. The U.S. is still one of the leading markets for onshore wind
industry; however, the country registered a sudden decline in installations in 2013 due to the withdrawal of
production tax credit (PTC) scheme by the government. Brazil is expected to be an attractive market for

Transparency Market Research

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