Wind Turbines are devices that help in converting kinetic energy from the wind to electric energy. Many companies are now generating electricity from wind using both offshore and onshore methods. Due to use of fossil fuels, earth’s temperature has risen by 1`C in the last 100 decades. Government is taking initiatives to explore alternative sources of energy due to the lack of natural resources such as fossil fuels. It is a beneficial step for both the planet and the economy to minimize the dependency on limited natural resources such as gas and oil. Wind Turbines could help in achieving balance between supply and demand for electric needs of the century.
The capacity to generate electric energy with the help of wind turbines grew tremendously. During 2013, 296’255MW electricity was generated with the help of wind turbines, out of which, 13’980 MW was generated in the first half of 2013. All wind turbines installed worldwide, during 2013, helped in meeting 3 to 5% of global electricity demand. Currently, world’s business activities are largely dependent on electric energy. Limited amount of natural resources such as gases and fuel would influence the overall growth of the world’s economies. These are the major driving forces, which are motivating governments to take initiatives to explore alternative energy solutions to cater to the increasing demand for electricity. As per Global Wind Energy Council, wind power is expected to deliver 12% of global electricity in 2020 and is going to create 1.4 million new jobs worldwide. Increased use of wind power would also influence the natural environment positively, by reducing the CO2 emission by 1.5 billion tons per year.
There are certain limitations in adopting this technology, as the technology is dependent on wind, which might not blow equally strong in all the respective places. There is another factor that would hinder the growth and that is the ill effect of wind turbines on the health of the people living near to the turbines installation. Due to these factors, the growth of wind turbine market is hampered.
Some of the key companies profiled in this report are Vestas, Sinovel, Glodwind, Gamesa, Enercon, Genral Electric, Suzlon, Siemens, Ming yang, Wind Power and Guodian United Power.
KEY MARKET SEGMENTS
BY TYPE OF WIND FARM
BY TURBINES MW CAPACITY