Wind energy equipment produces electricity, which is done by using wind. Wind energy is a renewable form of energy that is extensively used globally. The logistics of wind energy equipment involves transportation, installation, and commissioning of oversized wind energy equipment, such as turbines, generators, blades, towers, and nacelles, to aid the large-scale setting up of onshore and offshore wind energy plants. Wind energy equipment logistics deals with housing, transportation, and supply of equipment related to the production of wind energy. Logistics of wind energy equipment is a complicated process due to the massive size of equipment. Logistics of such equipment requires proper coordination with local authorities and permits to carry oversized loads. The wind energy equipment logistics market is expected to grow at an exponential rate during the forecast period due to thegrowing global trend of shifting toward renewable energy. These factors are expectedto drive the global wind energy equipment logistics market during the forecast period.
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COVID-19 scenario analysis:
Governments across the world are launching unprecedented economic stimulus packages to mitigate economic fallout and prevent a debt default, bankruptcy, and job losses.
The output has reduced heavily across a variety of industries and many have been closed completely as these businesses are non-essential.
COVID-19 has severely impacted the marine industry; the demand and revenue have drastically fallen as ships have been stranded and banned from entering ports.
The hindrance COVID-19 has created in the movement of cargo has raised concern on port and warehouse accumulation.
The economic impact is anticipated tobring further negative pressures on firms and necessary budgetary pressures for investment, growth as well as cost-cutting.
Assessments for recovery vary across economic models, with outcomes depending largely on the duration of the outbreak and the effectiveness of the policy responses.
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Top impacting factors: Market scenario analysis, trends, drivers, and impact analysis
Some of the factors that boost the increasing wind energy production capabilities of many developing countries and capital intensity on wind energy projects are expected to spur the product demand over the forecast period. The adoption rate is high as it is a clean form of energy, has low operating cost, and is space sufficient. Furthermore, increasing wind energy installation capabilities are expected to offer lucrative opportunities for the marketoverthe forecast period.
The wind energy equipment logistics market trends are as follows:
Increasing wind energy production capabilities of many developing countries
The growth of the wind energy equipment logistics market is directly dependent on a region’s wind energy production capacity and its plans for future production and expansion. According to the Global Wind Energy Council, as many as 10,000 new turbines are expected to be installed around the world in the next15 – 20 years. Moreover, the market is driven by the growing global oversized cargo transportation market, increased capacity of trailers & shipping vessels, and increased service reliability by implementing new technologies in the logistics industry. Therefore, with increasing wind energy production along with developing logistic industry, the wind energy equipment logistics market is expected tofurther grow overthe forecast period.
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Increasing capital intensity on wind energy projects
Wind energy projects are capital intensive and come under the government of a particular country. Wind energy is one of the fastest-growing sectors and a widely used form of energy in many countries. Its adoption rate is high as it is a clean form of energy, has low operating cost, and is space sufficient, which is projected to drive the wind energy equipment logistics market during the forecast period.Logistics providers are upgrading their vehicles along with efficient supply chain coordination for streamlined operations and to gain prominent market share. These factors are anticipatedto drive the global wind energy equipment logistics market during the forecast period.
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