Increasing Global Demand for Electricity and Cleaner Energy

|Mar 20|magazine19 min read
  • Improved efficiency in power generation has now become a crucial need in the global wind turbine control system market
  • With constant technological advancement, the key stakeholders in the value chain are targeting to extend the lifespan of the wind project while reducing the overall operational cost

ALBANY, New York, March 20, 2020 /PRNewswire/ -- As per the findings of the latest research report published by Transparency Market Research, the global wind turbine control system market is projected to exhibit a promising CAGR of ~10% over the given period of assessment ranging from 2019 to 2027. Initially, the valuation of the global market was around US$7.06 Bn in 2018. With the aforementioned rate of growth, the valuation of the market is now estimated to rise up to US$16.7 Bn by the fall of 2027.

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Global Wind Turbine Control System Market – Key Takeaways

  • Based on type, the global wind turbine control system market is divided into yaw systems, main control systems, pitch systems, and conditional monitoring systems.
  • Of these, the segment of main control system accounted for the dominant share in the global market because of increased demand from the wind turbine manufacturers.
  • Based on component, the segment of hardware is expected to have a steady growth in the coming years of the forecast period.
  • With technological developments, the segment of software is projected to show a promising rate of growth.
  • In terms of application, the segment of onshore wind turbine control systems has been the dominant one.
  • On the other hand, emergence of new predictive techniques and tools have played a significant role in driving growth of the offshore applications.
  • Based on installation, the segment of retrofit has traditionally been the dominant segment. However, with increasing demand for cleaner and efficient energy, the segment of new installation is expected to present lucrative growth opportunities.

Explore a report with detailed research, incisive insights, and in-depth country levels estimations. Gain business intelligence on global Wind Turbine Control Systems Market by Type: Yaw Systems, Pitch Systems, Main Control Systems, and Condition Monitoring Systems; Component: Hardware [Sensors, Human Machine Interface, Drives & Motors, and Others] and Software; Application: Onshore and Offshore; and Installation: New Installations and Retrofits - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019 – 2027, at https://www.transparencymarketresearch.com/wind-turbine-control-system-market.html

Global Wind Turbine Control System Market – Prominent Growth Factors

  • One of the biggest driving factor for the growth of the global wind turbine control system market is the increasing awareness about green energy across the world.
  • This coupled with strict government mandates and regulations about emission of greenhouses gases has also prompted increased adoption of the global market.
  • As more investments come in so as to install new wind turbines in potential areas, it has a direct impact on the growth of the wind turbine control system sales as it's a vital component of those turbines.

View Detailed Table of Contents at https://www.transparencymarketresearch.com/report-toc/32564

Global Wind Turbine Control System Market – Prominent Growth Inhibitors

  • Numerous alternate energy sources are now available across the globe which are comparatively cheaper than wind energy. Alternative energy sources such as geothermal, solar, and hydro are creating hurdles for the development of the global market.
  • High costs of installation and maintenance is also projected to play a role in inhibiting market growth.

Global Wind Turbine Control System Market – Geographical Outlook

  • Asia Pacific is the biggest regional market of the global wind turbine control system market and is expected to continue dominating over the course of the period of forecast.
  • With increasing investments rising in offshore installation segment, there are more lucrative growth opportunities for the regional market.
  • Europe is expected to emerge as a highly attractive region for the development of the global wind turbine control system market as the region continues to consume large amounts of electricity.

Analyze Wind Turbine Control System Market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.

Global Wind Turbine Control System Market – Key Players

Some of the notable names in the global market are General Electric, Siemens, ABB, Emerson Electric Co, Moog Inc. Mita-Teknik, and Rockwell Automation, Inc.

Global Wind Turbine Control Systems Market: Segmentation

Wind Turbine Control Systems Market, by Type

  • Yaw Systems
  • Pitch Systems
  • Main Control Systems
  • Condition Monitoring Systems

Wind Turbine Control Systems Market, by Component

  • Hardware
    • Sensors
    • Human Machine Interface (HMI)
    • Drives & Motors
    • Others (Actuator, Cables, and Switches)
  • Software

Wind Turbine Control Systems Market, by Application

  • Onshore
  • Offshore

Wind Turbine Control Systems Market, by Installation

  • New Installations
  • Retrofits

Wind Turbine Control Systems Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Sweden
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

Explore Transparency Market Research's award-winning coverage of the global Energy and Natural Resources Industry,

Offshore Wind Turbines Market - Global offshore wind turbines market is projected to be worth US$ 66,018.30 Mn by the end of 2027 from US$ 35,143.60 Mn in 2018. During the forecast period of 2019 and 2027, analysts estimate that the global market will surge at a CAGR of 8.2%.

Stationary Fuel Cell Market - The global stationary fuel cell market is set to grow at a robust pace over the forecast period of 2019 - 2027, as high efficiency and minimal-to-zero emission of GHG are being targeted globally, leading to stationary fuel cells gaining traction in commercial and industrial sectors.

Bunker Fuel Market - The bunker fuel market is expected to grow at a sluggish CAGR of ~2.5% during the forecast period. Some of the factors that are expected to fuel market growth include a significant rise in demand for marine diesel oil and steady adoption of low-sulfur fuel oils. 

Artificial Lift Systems Market - Rise in number of mature fields and aging oil & gas wells is estimated to boost the demand for artificial lift systems market during the forecast period.

Wave and Tidal Energy Market - The global wave and tidal energy market stood at US$ 3,244.44 Mn in 2018 and is projected to touch a valuation of US$ 17,535.30 million by the end of 2027. This represents the market rising at a spectacular CAGR of 23.5% during the forecast period of 2019–2027.

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