San Francisco, California (PRWEB) February 27, 2014
The global cumulative installed capacity for wind power is expected to reach 760.35 GW by 2020, according to a new study by Grand View Research, Inc. Favorable regulatory scenario with a view to reduce carbon footprints is expected to be a key driving factor for the market. Governmental support in the form of tax benefits and financial incentives across various nations including the U.S., China, UK, Italy, Spain, India and Brazil has given a boost to the overall market, due to which wind power has been gaining a considerable amount of market share in the overall electricity generation.
Industrial applications dominated the global wind power demand, accounted for over 40% of the total market in 2012. Along with being the largest market, industrial applications are also expected to be the fastest growing, at an estimated CAGR of 13.3% from 2013 to 2020. Growing industrial production in India, China and Brazil is expected to result in a surge of energy consumption and have a positive impact on wind power generation industry. Other sectors where wind power is being used include residential and commercial heating/lighting applications.
The report “Wind Power Market Analysis And Segment Forecasts To 2020,” is available now to Grand View Research customers and can also be purchased directly at http://www.grandviewresearch.com/industry-analysis/wind-power-industry.
Further Key findings from the study suggest:
Direct link for sample request of this report - http://www.grandviewresearch.com/request/210
For the purpose of this study, Grand View Research has segmented the global wind power market on the basis of application and region:
Browse All Research Reports of Energy & Power Market at http://www.grandviewresearch.com/industry/energy-and-power.
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com.
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Grand View Research, Inc
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