Wind Power Market - Forecast(2021 - 2026)
Wind Power Market Overview: According to US Energy Information Administration’s report, the world’s energy usage is expected to increase by 28% by the year 2040 [1] . Most of the demand will come from Asia Pacific region due to two of the most populous countries- India and China residing in the continent of Asia. This severity of power consumption requires alternative energy resources for producing power that not only meets the needs of people but also contributes to environmental conservation at the same time. Wind power is one such resource that can highly impact the production and distribution of power to the world. The wind power market is growing owing to its high demand from the European and Asia Pacific region. In the year 2018, the wind power market size reached a massive $95.27 billion mark. During the forecast period of 2019-2025, the demand for the wind power market will be experiencing burgeoning growth with a compound annual growth rate (CAGR...