The report, now available on ASDReports, recognizes the following companies as the key players in the Global Wind Automation Market: ABB, Emerson Electric, Schneider Electric and Siemens.
Other Prominent Vendors in the market are: Bachmann electronic, Bonfiglioli, General Electric, Honeywell, Mitsubishi, Omron, Regal Beloit, Rockwell Automation, Vestas Wind Systems and Yokogawa Electric.
Commenting on the report, an analyst said: “A driver contributing to market growth is the high return on investment (ROI). Although construction and installation costs are high, vendors are investing in offshore wind power as ROI in offshore wind power is as high as 18%, which gives certainty to investors. High rates of ROI are further boosted by the incentives and other tax benefits provided by governments to promote and support offshore wind power generation.”
According to the report, rising demand for renewable energy has attracted heavy investments in solar, hydro, and wind power since 2010. A majority of the investments may be used as a capital fund to construct wind power plants. Capital investments include costs incurred in project development, government permissions, turbines, installation, commissioning, and other operational costs.
Further, the report states that many countries across the globe prefer coal, gas, and hydro as source for power generation compared to wind. The conventional power generation involves less capital expenditure compared to wind power generation. Hence, restricts the market growth.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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Source: ASDReports - Market Research
Date: Feb 25, 2016