Wind Energy Market: Global Industry Analysis And Forecast (2022-2029)

Mayurikathade30 May, 2023Business

Wind Energy Market size was valued at US$ 99.8 Bn. in 2021 and the total Wind Energy Market revenue is expected to grow at 7 % from 2021 to 2029, reaching nearly US$ 171.5 Bn. Wind Energy Market Overview: Kinetic energy is converted into electric energy using renewable energy. Wind turbines transform wind energy into mechanical energy, which is then transformed into electrical energy by generators. It is possible to produce wind energy both on and offshore. On-land wind turbines are known as onshore wind energy, and offshore wind turbines are found in the ocean or sea. On the other hand, offshore wind turbines are more effective than onshore ones because of the constant wind flow. One of the more often used renewable energy sources is wind energy, which is electricity produced by harnessing the energy of the wind.