According to the report, titled “Onshore Wind Energy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020," the onshore wind energy market is expected to expand at a CAGR of 29.6% between 2014 – 2020.
Currently, Asia Pacific is the major market in the onshore wind energy sector, with China and India spearheading growth in the region. China led the onshore wind energy market, with record installations of 16030 MW in 2013.
In relatively mature markets such as Europe and the US, 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 UK accounted for more than 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 US 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 scheme by the government.
Brazil is expected to be an attractive market for wind power developers in Latin America. The onshore wind energy industries in Argentina and Costa Rica have exhibited promising development.
In addition, the Onshore Wind Energy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020 report provides an in-depth analysis of the market size of wind power in terms of capacity (MW) and revenue. The report provides an overview of the major manufacturers, followed by their financial revenue, business strategies and recent developments. It also offers a comprehensive analysis of companies that deal in onshore wind energy systems.
Readers are invited to browse the full Onshore Wind Energy Market Report online.