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Ameren Corporation - Consensus Indicates Potential 9 4% Upside - DirectorsTalk Interviews
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Exponential Growth Predicted For Wind Energy Market
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Outlook on the Wind Energy Global Market to 2027 – Featuring Enercon, Vestas Wind Systems and Exelon Among Others
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by Type (Offshore and Onshore) and End-User (Industrial, Commercial, and Residential): Global Opportunity Analysis and Industry Forecast, 2020–2027. According to the report, the global wind energy industry generated $62.1 billion in 2019, and is expected to generate $127.2 billion by 2027, witnessing a CAGR of 9.3% from 2020 to 2027.
Prime determinants of growth
Increase in demand for renewable power sources, higher efficiency than fossil energy sources, and environment-friendly nature, and reduced carbon emission drive the global wind energy market. However, high installation and maintenance costs of offshore wind plants hinder the market growth. On the other hand, advancements in wind turbine structure present new opportunities in the coming years.