LONDON–(BUSINESS WIRE)–Dec 11, 2018–The global wind turbine decommissioning services market is expected to post a CAGR of close to 39% during the period 2018-2022, according to the latest market research report by .
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Technavio has released a new market research report on the global wind turbine decommissioning services market for the period 2018-2022. (Graphic: Business Wire)
A key factor driving the growth of the global wind turbine decommissioning services market is the relatively unaffected levelized cost of energy (LCOE). LCOE for wind power includes the installation costs and the capacity factor of the energy production. However, innovations in wind power systems have improved the efficiency of the power generation and resulted in significant reductions in LCOE due to reduced capital costs. With the introduction of efficient turbines in the market, the LCOE remains relatively unaffected by the decommissioning costs. Hence, this is likely to boost the global wind turbine decommissioning services market during the forecast period.
This market research report on the also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
This report is available at a USD 1,000 discount for a limited time only:
In this report, Technavio highlights the rising investments in renewable energy as one of the key emerging trends in the global wind turbine decommissioning services market:
Global wind turbine decommissioning services market: Rising investments in renewable energy
Over the years, there has been a paradigm shift from the use of fossil fuels to renewable energy sources like solar, wind, and geothermal to meet the demand for energy to achieve social, economic, and environmental development in a sustainable manner. Consequently, there has been an increase in investments in the renewable energy sector. According to IEA, the global energy investments in 2016 crossed USD 1.7 trillion, which was lower when compared with the investment in 2015. This factor is likely to impact the wind turbine decommissioning service market during the forecast period.
“As the onshore market has matured, many countries are focusing on installing the wind farms into deep waters, farther from the shore, thanks in part to the increasing regulations on the use of renewable energy. With the flourishing offshore wind market, more installations are expected, thus, positively impacting the wind turbine decommissioning services market,” says a senior analyst at Technavio for research on power.
Global wind turbine decommissioning services market: Segmentation analysis
This market research report segments the global wind turbine decommissioning services market by application (onshore and offshore) and geographical regions (APAC, EMEA, and the Americas).
The EMEA region led the market in 2017 with a market share of close to 71%, followed by the Americas and APAC respectively. The EMEA region will continue to dominate the market during the forecast period with the highest incremental growth.
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Market ecosystemMarket characteristicsMarket segmentation analysis
Market definitionMarket size and forecast
Five Forces Analysis
Regional comparisonKey leading countries
Vendors coveredVendor classificationMarket positioning of vendorsCompetitive scenario
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SOURCE: Technavio Research
Copyright Business Wire 2018.
PUB: 12/11/2018 11:21 AM/DISC: 12/11/2018 11:21 AM
Copyright Business Wire 2018.
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