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Wind Turbine Generator Market Segmentation by Type (Synchronous Generator and Asynchronous Generator); and by Application (Onshore, and Offshore) – Global Demand Analysis and Opportunity Outlook 2021-2029

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Extensive insights into the Growth of Wind Turbine Generator Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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Wind Turbine Generator Market Highlights 2020-2029

The wind turbine generator market is estimated to grow with a moderate CAGR during the forecast period, i.e., 2021-2029. Wind turbines are widely installed across the globe as a sustainable and clean source of energy. The use of a wind turbine generator is rapidly growing in renewable energy generation due to its high efficiency and reliability. The rise in awareness concerning environmental protection acts has increased the demand for wind turbine generators. Wind turbine generator production is also increasing globally, with Europe registering high growth for the wind turbine generator market. Higher demand for clean energy across the world is leading to power demand, thus driving the growth of the wind turbine generator market. Also, factors such as the increasing awareness of the potential of utilizing wind energy, the emergence of hydropower as a source of renewable energy, and drastic weather changes across various countries will drive the market’s growth.

Wind Turbine Generator Market

The market is segmented on the basis of applications into offshore and onshore, out of which the wind turbine generator market vendors focus on clutching business opportunities from the onshore segment since it requires less capital investment than the offshore segment. It will be the primary factor driving the growth of the onshore segment.

Wind Turbine Generator Market Regional Synopsis

Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa region. The market in the Asia Pacific is predicted to grow at the highest CAGR over the forecast period owing to the increased focus of the countries in the APAC region towards wind power is one of the significant factors driving the market's growth. Countries such as China and India will be the primary revenue donors to the APAC wind turbine generator market in the coming years. CLICK TO DOWNLOAD SAMPLE REPORT

Wind Turbine Generator Market

The global wind turbine generator market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

Market Segmentation

Our in-depth analysis of the global wind turbine generator market includes the following segments:

By Type

  • Synchronous Generator
  • Asynchronous Generator

By Application

  • Onshore
  • Offshore

Growth Drivers

  • Rising Wind Energy Consumption
  • Supportive Government Policies for Wind Energy Projects

Challenges

  • High Cost of Generators
  • Complexity in Installation & Maintenance

Top Featured Companies Dominating the Market

  • ABB Ltd.
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
  • AVANTIS Energy Group
  • Bora Energy
  • General Electric Co.
  • Sany Group Co., Ltd
  • Siemens AG
  • Sinovel Wind Group Co Ltd
  • Suzlon Energy Ltd
  • Vestas Wind Systems A/S

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