Wind Turbine Market Will Grow at Highest Pace Owing to Increasing Investment in Renewable Energy Sources
The wind turbine market has witnessed significant growth over the past few years owing to growing environmental concerns and increasing focus on developing alternative sources of energy. Wind turbines work on the principle of converting the kinetic energy of wind into mechanical or electrical energy. They consist of blades, a drive train, generator, gearbox and tower. Wind turbines offer various advantages such as low maintenance costs, low carbon footprint, and low operating costs. Globally, the push for clean and renewable sources of energy has spurred the installation of wind turbines.
The wind turbine market is estimated to be valued at USD 149.98 Bn in 2024 and is expected to reach USD 253.90 Bn by 2031. It is projected to grow at a compound annual growth rate (CAGR) of 7.81% from 2024 to 2031.
Wind Turbine Market : https://logcla.com/posts/529326
