The rising focus of key players towards the installation of renewable energy is one of the primary factors contributing towards the development of the global vertical axis wind turbine market. In addition, the increasing research and development activities in this sector are projected to accelerate the demand for vertical axis wind turbines across the globe. The increasing innovations and developments are further estimated to augment the growth of the market in the near future.
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The research study has provided a detailed analysis of the global vertical axis wind turbine market, focusing on the product segmentation and geographical segmentation. To provide a strong understanding of the market, the research study has made use of several analytical tools to present the key growth prospects and opportunities in the market. In addition, the challenges and limitations faced by the leading players in the market have been highlighted in the research study. Furthermore, the key segmentation of the global market for vertical axis wind turbines has been included in the scope of the research report to give a clear picture and guide the leading players in making strategic business decisions.
Global Vertical Axis Wind Turbine Market: Drivers and Restraints
A large share of vertical axis wind turbine deployments that can be expected in the forecast period is projected to be in the form of decentralized applications and small pilot projects. The high growth of these two segments is expected to contribute significantly towards the growth of the overall market in the next few years. In addition, the growing awareness among consumers regarding the advantages of vertical axis wind turbines is another key factor boosting the demand across the globe.
Furthermore, technological advancements and the rising investments in this sector are projected to accelerate the growth of the global vertical axis wind turbine market throughout the forecast period.
Global Vertical Axis Wind Turbine Market: Region-wise Outlook
The global vertical axis wind turbine market can be classified on the basis of geography into North America, Latin America, Europe, the Middle East and Africa, and Asia Pacific. Among these regions, North America is expected to lead the overall market throughout the forecast period owing to the robust development of vertical axis wind turbines and technological developments in this region. In addition, a large number of deployment and installations is expected to rise at a significant pace, which will contribute extensively towards the growth of the vertical axis wind turbine market in North America.
On the other hand, with the withdrawal of the production tax credit scheme in the U.S., the investment scenario is unclear at present. This is could adversely affect the growth of the market in the next few years. Nevertheless, Asia Pacific and Europe are projected to follow North America and witness substantial growth in the next few years. The rising number of installations of vertical axis wind turbine market is the primary factor augmenting the growth of these regions in the forecast period.
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Key Players Mentioned in the Research Report are:
The global vertical axis wind turbine market is highly competitive in nature and is expected to witness intense competition in the coming few years. However, the increasing number of players is projected to augment the growth of the overall market throughout the forecast period. Some of the leading players operating in the market are Endurance Wind Power Inc., ZKEnergy Technology Co., Ltd., Xzeres Wind Corp., Northern Power Systems Inc., Shanghai Ghrepower Green Energy Co. Ltd., Kingspan Group Plc., Aeolos Wind Energy, Bergey Wind Power Co., and Aerotecture International.
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