Asia-Pacific Large Wind Turbine Market - Growth, Trends, Covid-19 Impact and Forecasts (2023 - 2028)
The Asia-Pacific large wind turbine market is projected to register a CAGR greater than 3.5% during the forecast period.
The market was negatively impacted by COVID-19. Presently, the market has reached pre-pandemic levels.
Over the medium period, government policies promoting the development of renewables and increasing investment in wind power projects are expected to drive the market studied during the forecast period.
On the other hand, the increasing adoption of other alternative clean power sources, such as natural gas and solar energy, is expected to hinder the market studied.
The declining cost of wind energy and supportive government policies for the future are expected to create good market opportunities in the future.
China is expected to dominate the Asia-Pacific large wind turbine market in the forecast period since the majority of wind projects are from this country.
Key Market TrendsOffshore Wind Turbine to Witness a Significant GrowthThe Asia-Pacific large wind turbine market is moderately fragmented. The key players in the market (not in particular order) include Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, General Electric Company, Nordex SE, and Suzlon Energy Limited.
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