Wind power market to top $1.5trn by 2031, says study
NEW YORK, 10 days ago The global wind power market will surpass valuation of S$ 1.5 trillion by 2031, according to a new report by Transparency Market Research (TMR), a next-generation market intelligence provider. In terms of revenue, the China and global wind power market is estimated to expand at a CAGR of ~10% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the China and global wind power market. Rise in demand for electricity and continuous technological advancements regarding parts used in wind turbines are creating lucrative opportunities for the wind power market in China and across the globe. Governmental initiatives for achieving subsidy-free grid price parity for wind power are anticipated to boost the China and global wind power market in the near future.
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