Market Insights Reports delivers key insights on the Airborne Wind Turbines market in its latest report titled, “Airborne Wind Turbines Market – Growth, Trends, COVID-19 Impact, And Forecasts (2021 – 2026)” provides an in-depth analysis of key players strategies, market growth, product demand, growth factors, technological innovations, regional outlook and global dynamics which includes drivers, challenges, and opportunities dominant in the industry. This Market study provides comprehensive data that enhances the understanding, scope, and application of this report.
Airborne Wind Turbine Market registered a CAGR of 8.7% over the forecast period of 2021-2016.
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Top Key Players in the Global Airborne Wind Turbines Market: Enercon, Vestas, GE Energy, Nordex Group, Siemens, Senvion, Goldwind, United Power, Envision Energy, Suzlon and Others.
– Sep 2019 – Vestas received a 34 MW order for the Haramsfjellet wind project on the island of Haramsya in western Norway. Vestas has developed a solution to fit the site’s wind conditions that include eight V136-4.2 MW turbines and a long-term service contract to optimize energy production for the lifetime of the project in a high wind location. With a robust design for tough wind sites, the turbine is well-suited for the challenging climatic conditions that are commonly found in Norway’s western coastline.
– Jun 2019 – GE announced the availability of three new grid analytics that combines domain expertise with artificial intelligence (AI) and machine learning (ML) to tackle pressing challenges in electric grid operations. The analytics use data from across transmission and distribution networks to help achieve goals for operational efficiency.
The ever-growing consumption of electricity, particularly in emerging economies such as China, Brazil, India, and Russia has heightened the demand for alternative sources of energy. The wind being completely free, authorities are focusing greatly on putting to use the energy derived from wind. Moreover, wind energy technologies typically call for low maintenance and the electricity derived is also very inexpensive, once the cost of building and installing turbines is redeemed. Wind power now valuing for more than 11% of electricity demand in the EU and 45% of the world in total. The U.S., China, Germany, India, China, and Spain are among the important countries involved in producing wind energy on a massive scale. Thus, companies operating in the airborne wind turbine market are supposed to find profitable opportunities in the aforementioned economies.
– The fluctuating costs of fuel derived from non-renewable sources, favorable government regulations, increasing demand for energy, and utility-scale generation are the principal factors driving the market for airborne wind turbines. The U.S., India, Germany, China, and Spain are among the major countries involved in generating wind energy on a large scale. As per the Global Wind Energy Outlook November 2016, wind power capacity will grow by 365 GW by 2020 and grow an additional 880 GW by 2030. One GW is equal to USD1.4 billion in turbine supply agreements according to the average cost level. In this situation, 16% of the global energy mix will arise from wind power by 2030. Thus, companies operating in the airborne wind turbine market are anticipated to find lucrative opportunities.
– The discoveries of Greenpeace International and the Global Wind Energy Council (GWEC) demonstrate that wind turbines will supply reasonably 12% of the worldwide power by 2020. A few innovations have been acquainted with changing the ways by which vitality from wind is saddled – the most contemporary in this undertaking being airborne wind turbines. This additionally helps control spending on pinnacle development and yaw instruments or the demand for slip rings. This fresh plan is relied upon to render great speed and more outstanding productivity at greater elevations. Enterprises like Altaeros aims to decrease energy costs by up to 65% by harnessing high-altitude winds and by decreasing installation time. Eventually, the firm foresees to scale up the technology and expand it to the offshore wind market to lessen costs there.
Top Line Market Forecast:
Both Regional and Global sectors are included in the Outlook, with special breakouts for the NAM, European, MENA, and Asia-Pacific regions. The data covered is from 2015 to 2019 historically and from 2020 to 2026 forecasted, it also includes the impact of Covid-19 both on the short- and long-term prospects of the industry.
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Europe Dominates the Airborne Wind Turbines Market
– Europe installed 11.7 GW (10.1 GW in EU-28) of new wind energy in 2018. This is a 32% decrease in 2017 annual installations. 9 GW was onshore, and 2.65 GW were offshore. Europe decommissioned 0.4 GW of wind capacity, almost all of which was onshore wind. Europe decommissioned 0.4 GW of wind turbines. So the net increase in Europe’s wind energy capacity in 2018 was 11.3 GW. With a total installed capacity of 178.8 GW in the EU, wind energy remains the second largest form of power generation capacity in the EU-28 and is likely to overtake natural gas installations in 2019. Wind power installed more capacity than any other form of power generation in the EU in 2018. It accounted for 48% of total power capacity installations.
– The size and type of airborne wind turbines installed in Europe varied significantly between countries. On average, the most powerful onshore wind turbines were installed in Norway, with an average rating of 3.6 MW. Lithuania and Greece had the lowest average power rating: 2 MW. The weighted average onshore turbine size was 2.7 MW. In 2018 the average rated capacity of newly installed offshore turbines was 6.8 MW, 15% larger than in 2017. The largest turbine in the world was installed in the United Kingdom. Two V164-8.8 MW from MHI Vestas Offshore Wind, with a rotor diameter of 164m, was connected at the European Offshore Wind Development Centre (EOWDC) wind farm.
– Wind energy investments in 2018 continued the trend of geographical diversification. The top 3 investor countries owned only 43% of FID announcements in 2018. This compares to 64% in 2017 and 73% in 2016. Investments in non-EU countries have also increased to a total of EUR 5.1bn. This was a 75% increase in 2017 and represented 19% of the new announced FIDs. The United Kingdom was the biggest investor in 2018. They generated a total financing activity of EUR 5.9bn for the construction of new onshore and offshore wind farms. This accounts for 22% of the total wind energy investments made in 2018.
This Airborne Wind Turbines Market report addresses:
– The Market size from 2016-2021
– Expected market growth until 2026
– Forecast of how market drivers, restraints, and future opportunities will affect
– Segment and regions that will drive or lead the market growth and why
– Comprehensive mapping of the competitive landscape
– In-depth analysis of key sustainability strategies adopted by market place
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Post Covid-19 Analysis:
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