Business Intelligence and Strategy Research (BIS Research) has recently published a report titled “Asia-Pacific Wind Energy Market Outlook, Focus on Equipment, Deployment and Geography: Estimation and Forecast 2015-2020”.
Owing to the increasing energy demands and a dire need for safeguarding measures for the environment, the wind energy market has gained significant traction in the recent past with a total market value of $22.92 billion in 2014. With ongoing innovation in technology, acting as a boosting element to enhance the overall performance of the wind turbines used for electricity generation, the wind energy market is subjected to witness a market growth in terms of cumulative capacity at a CAGR of 12.13% through the forecast period from 2015-2020, according to the report.
The ongoing changes in the industry have led to the incorporation of a detailed chapter on the market dynamics including the key driving and restraining forces, along with the potential opportunities for the APAC wind energy market through the forecast period. The declining prices of the wind energy equipment along with the overwhelming support from the governments are acting as major driving forces for the wind energy market in the Asia Pacific region.
However, some of the major restraints against the widespread adoption of the wind energy are the high upfront cost and the maintenance cost of the wind energy projects. Along with a comprehensive study on the drivers and the challenges, the report also focuses on the untapped opportunities of the wind energy market which may contribute to the market escalation as a whole. In the report, the wind energy industry analysis is conducted using the porter’s five forces analysis and investment analysis.
The wind energy market report presents a detailed analysis of the entire wind turbine ecosystem providing information about the equipment used in the wind turbine system along with their contribution in total cost incurred in the installation of the wind power project. Herein the revenue generated from the key components of the wind turbine system is given, along with a segment dedicated to the revenue generated from secondary components of the wind turbine system.
All of the above mentioned parameters are discussed across the countries in the Asia Pacific region, such as China, India, Japan and Australia, among others, along with the key market players operating in these countries such as Vestas, Gamesa, Suzlon and others. The wind energy market report also highlights some of the prominent consortia and regulatory bodies, which influences the process of evolution of this industry in the APAC region.