Onshore wind energy involves the harvesting of wind power from wind turbines set up on land. Its growing popularity as a means to meet country-specific clean energy targets along with strong regulatory support are driving industry growth globally. Corporate interest in procuring wind power to meet renewable energy goals as well as falling wind turbine prices further drive installations. Rising energy demands in several regional markets also contribute to market growth.
Solar PV and hydropower are competitors in the alternative renewable energy space, and the growing offshore wind market supported by targeted policies in some regions may reduce demand for onshore wind in the long term, as may limited availability of land sites suited for wind energy generation. Innovations such as higher-capacity onshore turbines, modular turbines, and additive manufacturing are bringing down the overall cost of onshore wind power. Leveraging technological advancements in Big Data analytics and the Internet of Things is enabling the development of smart wind turbines with increased connectivity, operation optimization, and predictive capabilities. Another trend shaping the market is the continued decrease in the levelized cost of electricity of onshore wind in all regional markets, making wind power more competitive with conventional fuel sources.
China holds the share of the global onshore wind turbine market; Europe and India are other leading markets. Emerging markets include Brazil, Mexico, Australia, and South Africa. Mature markets (the United Kingdom, Germany, and the United States) are expected to generate demand as a result of increasing repowering or updating activities for aging wind power farms.
The Frost Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Frost Radar methodology. The document presents competitive profiles on each of the companies in the Frost Radar based on their strengths, opportunities, and a small discussion on their positioning. Frost & Sullivan analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Frost Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.
Industry Overview
The Frost Radar
Frost Radar—Description of Companies Plotted
Vestas Wind Systems A/S
GE Renewable Energy
Siemens Gamesa Renewable Energy, SA
ENERCON
Goldwind China
Nordex Group
Envision Energy
Senvion SE
United Power
China Ming Yang Wind Power Group Ltd.
Suzlon
Leitwind
The Last Word—Key Takeaways
Legal Disclaimer
Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform
Frost Radar—2 Major Indices, 10 Analytical Ingredients, 1 Platform (continued)
Frost Radar—C2A
Frost Radar™: Benchmarking Future Growth Potential 2 Major Indices, 10 Analytical Ingredients, 1 Platform
Growth Index
Growth Index (GI) is a measure of a company’s growth performance and track record, along with its ability to develop and execute a fully aligned growth strategy and vision; a robust growth pipeline system; and effective market, competitor, and end-user focused sales and marketing strategies.
- Market Share (previous 3 years)
This is a comparison of a company’s market share relative to its competitors in a given market space for the previous 3 years. - Revenue Growth (previous 3 years)
This is a look at a company’s revenue growth rate for the previous 3 years in the market/industry/category that forms the context for the given Frost Radar™. - Growth Pipeline
This is an evaluation of the strength and leverage of a company’s growth pipeline system to continuously capture, analyze, and prioritize its universe of growth opportunities. - Vision and Strategy
This is an assessment of how well a company’s growth strategy is aligned with its vision. Are the investments that a company is making in new products and markets consistent with the stated vision? - Sales and Marketing
This is a measure of the effectiveness of a company’s sales and marketing efforts in helping it drive demand and achieve its growth objectives.
Innovation Index
Innovation Index (II) is a measure of a company’s ability to develop products/ services/ solutions (with a clear understanding of disruptive Mega Trends) that are globally applicable, are able to evolve and expand to serve multiple markets and are aligned to customers’ changing needs.
- INNOVATION SCALABILITY
This determines whether an organization’s innovations are globally scalable and applicable in both developing and mature markets, and also in adjacent and non-adjacent industry verticals. - RESEARCH AND DEVELOPMENT
This is a measure of the efficacy of a company’s R&D strategy, as determined by the size of its R&D investment and how it feeds the innovation pipeline. - PRODUCT PORTFOLIO
This is a measure of a company’s product portfolio, focusing on the relative contribution of new products to its annual revenue. - MEGATRENDS LEVERAGE
This is an assessment of a company’s proactive leverage of evolving, long-term opportunities and new business models, as the foundation of its innovation pipeline. - CUSTOMER ALIGNMENT
This evaluates the applicability of a company’s products/services/solutions to current and potential customers, as well as how its innovation strategy is influenced by evolving customer needs.
Significance of Being on the Frost Radar™
Companies plotted on the Frost RadarTM are the leaders in the industry for growth, innovation, or both. They are instrumental in advancing the industry into the future.
- GROWTH POTENTIAL
Your organization has significant future growth potential, which makes it a Company to Action. - BEST PRACTICES
Your organization is well positioned to shape Growth Pipeline™ best practices in your industry. - COMPETITIVE INTENSITY
Your organization is one of the key drivers of competitive intensity in the growth environment. - CUSTOMER VALUE
Your organization has demonstrated the ability to significantly enhance its customer value proposition. - PARTNER POTENTIAL
Your organization is top of mind for customers, investors, value chain partners, and future talent as a significant value provider.
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| New Title | Global Onshore Wind Turbine Market - Growth Opportunities, Analysis, Forecast, Global,2020 |
|---|---|
| New Subtitle | A Measurement System to Spark Companies 2 Action (C2A)—Innovation That Fuels New Deal Flow and Growth Pipelines, Wind Electricity, Onshore Wind Energy Market, Wind Power Market |
| Deliverable Type | Frost Radar |
| No Index | No |
| Podcast | No |
| Author | Sama Suwal |
| Industries | Energy |
| WIP Number | K42A-01-00-00-00 |
| Is Prebook | No |
| GPS Codes | 9AFE-A4,9B00-A4,9851,GETE |
Frost Radar in the Global Onshore Wind Turbine Market
A Measurement System to Spark Companies 2 Action (C2A)—Innovation That Fuels New Deal Flow and Growth Pipelines, Wind Electricity, Onshore Wind Energy Market, Wind Power Market
13-Jan-2020
Global
Frost Radar