The report, now available on ASDReports, recognizes the following companies as the key players in the global wind power systems market: GENERAL ELECTRIC, Nexans, Prysmian Group, SIEMENS GAMESA RENEWABLE ENERGY, Vestas, and Xinjiang Goldwind Science & Technology.
Commenting on the report, an analyst said: “One trend in the market is global energy transition. Globally the power sector is undergoing a major transition as power generation from fossil fuels is slowly being replaced with renewable sources.”
According to the report, one driver in the market is growing investments in renewable energy. The overall cost of generating electricity from renewable energy sources is more as compared to generating electricity from conventional sources. As a result, significant investments are being made to develop technology to efficiently generate electricity from different renewable energy sources.
Further, the report states that one challenge in the market is competition from fossil fuels. In 2016, the share of renewable energy in the global primary energy consumption was 15%. Between 2001 and 2016, the share of wind power in the global electricity generation mix increased steadily at a double-digit growth rate.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
From The Global Energy World