Solar Updraft Tower Market Segmentation:
Component Segment Analysis
The wind turbine segment value is poised to be the greatest among the others with a market share of 32% by the end of 2035. Wind turbines are an imperative component of solar updraft towers for converting the thermal energy of the air in the tower into mechanical energy which could be further used for generating electricity. Furthermore, the increased electricity generation capacity by wind is also slated to favor the expansion of segment size in the forecasted timeline. It has been calculated that the amount of wind power generation rose by almost 55% in 2020 and reached 270 TWh in 2021.
Application Segment Analysis
The residential segment is set to be the largest share in the market with a value of 42% by 2035. The burgeoning population across the globe and their demand for uninterrupted power supply is predicted to bring opportunities for extensive use of solar updraft towers. Additionally, favorable government incentives and subsidies for adopting renewable sources of energy are projected to help in generating a robust revenue income.
Our in-depth analysis of the market includes the following segments:
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