The global wind turbine control systems market is likely to reach $ 134,600 million in 2026 and expected to garner a CAGR of 10% from 2021to 2026. Wind turbines convert kinetic energy into energy electric. Wind is a renewable energy, which is considered the cleanest source available. In recent years, this energy has become one of the most economical and efficient renewable energy sources. Factors such as the absence of greenhouse gas emissions, the diversification of the electricity supply and the short term for the planning and construction of wind projects are driving the use of wind turbines. Globally, increased attention has been paid to the adoption of automation technologies in the industrial sector to increase productivity and efficiency. As a result, modernization of existing facilities is likely to drive market demand for turbine control systems in the near future.
Wind is an important source of affordable renewable energy that currently contributes 5% of the world's electricity demand. Technological development for the growth of more reliable and efficient wind turbines makes wind energy more profitable. Additionally, the depletion of natural resources and government initiatives to explore alternative energy sources are driving the global market for wind turbines. The cost of electricity produced from wind power is expected to decrease in the near future due to technological development. This is expected to provide a substantial growth opportunity for the wind turbine control systems market in the near future. However, large investments for the production and installation of wind turbines hinder the growth of the market.
Technological improvements, such as higher capacity wind turbines, floating wind turbines and 3D printing, have brought the total price of wind power to the lowest level and have also opened up new offshore locations, such as deep water that was previously inaccessible due to lack of investment and Technology. The increasing use of natural gas is expected to drive demand for turbine power plants, which in turn is likely to increase the market need for wind turbine control systems globally.
Harnessing wind power at high altitudes has its own challenges, including unplanned collisions, and therefore requires automated piloting for safety.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2020 – 2026 |
|
Base Year |
2020 |
|
Forecast Period |
2021- 2026 |
|
CAGR |
10.0% |
|
Segments Covered |
By Product, Type, Consumption, Distribution Channel and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
|
Market Leaders Profiled |
Vestas Wind Systems A/S, Sinovel, Goldwind, Siemens, General Electric, Suzlon Energy Ltd., Enercon GmbH, Ming yang, Gamesa, and Guodian United Power Technology Company Ltd. |
Based on application, the worldwide market has been segmented into residential, commercial and industrial. The residential segment is expected to dominate the worldwide market. In fact, the deployment of large turbines in this segment cuts the cost of turbines by almost half.
Based on Installation, the global market for wind energy is divided into land and sea. The onshore segment is believed to dominate the market. In fact, the land segment has a low carbon emission and an economical cost structure compared to the other segments.
Based on turbine capacity, the worldwide market is divided into less than 100KW, 100KW to 500KW, 500KW to 1MW, 1MW to 3MW and more than 3MW. The 1 MW to 3 MW segment is expected to drive the growth of the wind turbine control systems market. For parameters such as lightness, fewer moving parts, less emissions, etc., which increases the acceptance of these products in the market.
In Asia-Pacific, the market accounted for the largest volume share of more than 44.0% in the industry in 2021and is expected to continue to dominate throughout the forecast period. China had the highest installed capacity in the region due to ongoing initiatives and investments by the government to boost industry growth. China's onshore wind power industry is expected to grow steadily in the coming years as the government encourages the expansion of renewable infrastructure, to reduce the challenge of thermal power and reduce pollution for production electricity of the country. This will likely determine the progress of wind power projects in the country, which, in turn, is expected to drive the region's market over the forecast period. North America and Europe are known as competitive and mature regions in the market. In 2017, IKEA Systems B.V. had increased its direct ownership of wind energy assets for self-generation in North America to almost 0.4 GW. The levelled Cost of Electricity (LCOE) of an offshore wind power plant is already viable in Europe.
The coronavirus crisis has shaken the foundations of wind turbine manufacturing, leading two of the largest producers outside of China to net losses in the first half of the year and continuing to disrupt supply chains in key markets for production of blades and wind power plants. The manufacturer, which posted a negative consolidated net profit of € 180 million for the first six months, was forced to apply for a € 350 million loan backed by the German government and also sold a major pipeline project RWE AG at the end of July to, which will further strengthen liquidity in the short term. But Blanco said on Aug. 13 that production at the company's factories has not yet returned to normal, in part because Nordex operates much of it in Brazil, India and Mexico, some of the largest in the world affected by the virus.
The key players profiled in the report are Vestas Wind Systems A/S, Sinovel, Goldwind, Siemens, General Electric, Suzlon Energy Ltd., Enercon GmbH, Ming yang, Gamesa, and Guodian United Power Technology Company Ltd.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Solar Panel Recycling Market, By Process
6.1.1 Mechanical
6.1.2 Laser
6.1.3 Market Size Estimations & Forecasts (2019-2024)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Solar Panel Recycling Market, By Product
6.2.1 Monocrystalline Solar Panel
6.2.2 Thin Film
6.2.3 Market Size Estimations & Forecasts (2019-2024)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Process
7.2.3 By Product
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Process
7.3.3 By Product
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Process
7.4.3 By Product
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Process
7.5.3 By Product
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Process
7.6.3 By Product
8. Key Player Analysis
8.1 First Solar
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Echo Environmental
8.3 Silicontel Ltd
8.4 Canadian Solar Inc
8.5 Silrec Corporation
8.6 Aurubis
8.7 Hanwha Group
8.8 SunPower Corporation
8.9 Reiling GmbH & Co. KG
8.10 Trina Solar
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analysing the level of competition and business strategy development
A comprehensive list of key market players along with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Global Solar Panel Recycling Market By Region, From 2021-2026 ( USD Billion )
Global Solar Panel Recycling Market By Process, From 2021-2026 ( USD Billion )
Global Mechanical Market By Region, From 2021-2026 ( USD Billion )
Global Laser Market By Region, From 2021-2026 ( USD Billion )
Global Solar Panel Recycling Market By Product, From 2021-2026 ( USD Billion )
Global Monocrystalline Solar Panel Market By Region, From 2021-2026 ( USD Billion )
Global Thin Film Market By Region, From 2021-2026 ( USD Billion )
