The renewable energy market is one of the fast growing industries in the United States and in many parts of the world.
Solar Energy Market Research
SIS actively conducts B2B and B2C interviews regarding installations, new product concepts, and attitude, behavior and usage tests. We have conduct Solar Energy Market Research across the United States, Europe, the Middle East and Asia.
Nuclear Energy Market Research
SIS conducts expert interviews in the Nuclear Energy Market. We have conducted Expert and Policy Research interviews across the United States for companies interested to understand the changing opinions regarding Nuclear Energy.
Our senior research team conducts high level discussions and interviews in the Nuclear Energy industry to engage and explore decision making processes, policy responses and other nuances.
Wind Energy Market Research
SIS International Research conducted telephone interviews with turbine experts including Procurement Directors, Wind Turbine Engineers, Wind Farm Owners, and Third Party Turbine Engineers. Through these interviews, we discovered various trends in the power sector. These trends range from the communication habits of turbine industry professions, to the recent growth of the industry, to the impacts of domestic policy and international trade. The following is a recent case study in which we spoke with Wind Energy Experts and Engineers worldwide to develop new messaging campaigns for our clients.
4 Key takeaways:
- The turbine industry is currently enjoying major growth
- Uncertainty regarding international trade and domestic policy will affect the industry significantly.
- Experts across the turbine industry share many traits including punctuality, heavy workloads, and a deep passion for their work.
- Cultural differences make gathering research in Asia difficult.
The Wind Turbine Industry
Through our desk research, we discovered that wind energy has been enjoying exceptional growth in recent years. Farmers and ranchers in the United States were paid hundreds of millions of dollars in lease payments for hosting turbines. This is an industry that is poised for major growth as many states such as Iowa, Kansas, South Dakota, and Oklahoma all already heavily rely on wind energy- each of these states now generates over a quarter of all their electricity from wind power.
We also explored the future of the industry and how it will react to the US Government’s push for more LNG (Liquified Natural Gas) turbines. Europe is currently becoming a massive buyer of US LNG. In a recent meeting aimed at averting a transatlantic trade war, the head of the European Commission told the United States that Europe currently has a plan in place to build more terminals to import U.S. LNG. LNG imports to Europe are set to increase substantially, though political shifts can quickly impact the energy market. It will be very interesting to follow this industry and observe how it reacts to changes in international trade, as well as policy developments in the US and elsewhere.
Our interviews uncovered many interesting trends regarding individuals working in the turbine industry.
The first was the overwhelming number of respondents who desired to participate, but could not sacrifice the time necessary to complete the interviews. This reflects the demand of the industry as well as the dedication of those working within it. A common thread among those who could participate was incredible passion. Every respondent was very passionate about their work in the turbine industry, leading them to provide us with many valuable insights.
The second trend we observed was stark cultural differences. It was much more difficult to engage respondents from Asia, specifically China. Relationship building was more important in communicating with experts and engineers in China than in other countries. This more personal method of contact seemed to alleviate many concerns. In contrast, professionals in both the United Kingdom and the United States were easier to contact and more forthcoming in their responses.
The third trend we observed was similar behavior and habits among the engineers we contacted. Many were very structured in their personal habits, priding themselves particularly on punctuality. They also followed protocols extremely well. This manifested in our research through exceptionally smooth interviews. Normal minor issues such as technical difficulties with the teleconference were eliminated, giving our respondents more time to respond to our inquiries in extensive detail.
How to Reach Energy Decision Makers
Reaching qualified experts in this industry can be challenging. Interestingly, Third Party Turbine Engineers were most willing to speak with us, while the most difficult experts to reach were those in procurement.
With the rise of calls to curb greenhouse gas emissions, concerns of Fossil Fuel supply and demand, and climate change, primes the wind turbine industry has seen explosive growth. Companies should ensure that relatively short term changes in the political environment that affect the industry do not cloud this long term outlook.
Based on our research, we believe the industry as a whole to be well positioned to take advantage of the growth opportunities available. Experts in the field are exceptionally passionate, hardworking, and efficient. Companies should take steps to ensure that their employees continue to work at an optimal level to avoid burnout. Additionally, as we found many industry professionals to be adept at executing formal protocols, companies should make sure that their processes are as efficient as possible.
Finally, given the large amount of respondents who cited confidentiality concerns when speaking to us, we believe players in this industry should evaluate having more open communication and cooperation. Cooperative relationships could help companies to hedge against short-term risks, while promoting innovating and fueling long term gains.
Many factors including the current geopolitical climate are generating a lot of uncertainty across many industries, including the wind turbine industry. However, we firmly believe the the long term growth prospects strongly outweigh the short term tumult. It is an exciting time to be involved in wind power.
About SIS Renewable Energy Market Research
SIS International Research is a leading global market research firm. We provide Consumer and B2B Market Research in the United States, Europe, the Middle East, Asia and Africa. SIS also has a leading Strategy Research team that provides Market Opportunity/Entry/Sizing, Competitive Analysis, Trend Tracking, Industry Intelligence, Innovation Research and Go To Market Strategy.