Wind Power Market Research Reports, Analysis & Trends
Win power industry comprises companies that operate by producing power/ electricity or electrical energy through turbines/ wind mills. In general understanding, wind power is defined as the power generated from the conversion of the kinetic energy of wind into a useful form of energy that is used to complete work through mechanical energy or generate renewable electrical power. Wind turbines are the most integral part and they form the basis for modern renewable wind energy and they hold a common design of a rotor (wind turbine blades) and an electrical generator that uses rotational mechanical energy to create an electro-magnetic field (EMF) and eventually generate an electrical current. The power generation from wind turbines became common in remote regions such as Denmark, Russia and Scotland since the early 20th century due to its early economical generation of power at “off-grid” locations without electrification.
Over decades and a century of usage, the wind power still continues to be one of the most effective model for distributed generation or power generation near individual points of electricity consumption, and it is a leading distributed generation market technology along with models such as solar panels. Wind power is now commonly aggregated into collections of wind turbines most commonly known as wind farms, they are built with individual turbine that generate capacities approaching 5 MW of power and contribute to utility-scale power generation that meets a notable part of municipal, regional or even national energy demand. In 2012, over 13 GW of new wind power capacity were added to the US grid, that is nearly double the wind capacity deployed in 2011. This tremendous growth helped America’s total wind power capacity to surpass 60 GW at the end of 2012 and it represented enough capacity to power more than 15 million homes each year, or as many homes as in California and Washington state combined.
Current Trends in Wind Power Market
The wind power industry's growth is phenomenal and the result is that today, over 100 countries worldwide have developed commercial wind farms that provide more than 3% of the global generation wind power capacity. The wind sector in 2012 had a turnover of more than US $850 million. Globally,44,711 MW of wind power was generated and supplied in 2012, raising by 19% the total installed global capacity to 282,482 MW. Asia and North America accounted for the majority of the new capacity installed but new markets in Latin America, Africa and Asia are also driving market growth. Apart from the power generation, the wind power sector is on an employment spree as well with the reports by Global Wind Energy Outlook claiming that more than a million people will be employed by the end of 2015 and 1.3 million by 2020. By 2030 the wind industry could employ 2.6 million people worldwide.
Major Wind Power Industry Players
Major players in the wind power industry include Vestas, Suzlon Group, Goldwind, Enercon, Min Yang, GE Energy, and Siemens Wind Power.