The global wind power market is driven by national governments’ push to improve energy security, and in particular, to reduce coal consumption due to growing concerns about climate change and air pollution. The global wind power market has achieved exceptionally high growth rates over the past few years. More than half of the world’s wind power capacity has been added over the past five years.
By the end of 2016, more than 80 countries installed wind farms and about 26 countries – representing every region – with more than 1 GW in operation. This study provides a comprehensive overview of the global wind market (onshore and offshore). The global wind power market had yet another record-breaking year. By end of 2016, more than 54 GW of new installed capacity was added, bringing the global cumulative capacity to about 487 GW.
The base year for the study is 2016, while forecasts have been provided from 2017 to 2025. The global wind power market is expected to reach a cumulative installed capacity of 1,000 GW by the end of 2025, with Asia-Pacific as the dominant region. The offshore wind market is expected to grow at a much faster pace, while the onshore wind market is expected to progress slowly.
The study explains the various factors that act as drivers and restraints to the market, both global and regional. This study also includes a global scale and regional scale forecast of the revenue and annual installed capacity until the end of forecast period. Finally, the study concludes by giving the three major predictions for the future of global wind power market.
For more information about this report, click here.
Filed Under: News, Policy, Projects