Wind turbine control systems market set to reach $16.7bn by 2027

first_imgRead moreWind energy project milestones celebrated in Senegal and EgyptGauging wind power capacity in Africa and the Middle East UNDP China, CCIEE launch report to facilitate low-carbon development Generation Asia Pacific dominated the global wind turbine control systems market in 2018. The dominance of the region can be ascribed to the development of new wind farms in the region. Consequently, the region is anticipated to witness high demand for control systems during the forecast period. Key driver of wind turbine control systems market Asia Pacific to lead the market progress The wind turbine control systems market in Asia Pacific is likely to expand at a substantial pace during the forecast period, owing to high investments in the wind energy industry from countries in the region such as China and India. Featured image: Stock AFD and Eskom commit to a competitive electricity sector In June 2019, Mita-Teknik announced the launch of a new-generation blade pitch system for use in onshore and offshore wind turbines. The Mita Pitch System is a flexible pitch solution for use in turbines of up to 12MW, which boasts design life of 30 years. The new system is designed to effectively minimise O&M costs, reduce downtime, and improve productivity. According to Global Wind Energy Council’s Global Wind Energy Report–2018, the total onshore wind energy generated in China stood at around 18,499MW in 2017 and it increased to 21,200MW in 2018. Significant rise in investments is expected in wind energy generation in the country, which is projected to drive the wind turbine control systems market in China during the forecast period. RELATED ARTICLESMORE FROM AUTHOR In terms of application, the onshore segment constituted a significant share of the market in 2018, due to a large number of onshore wind turbines and lower investments compared to those required for installation of offshore wind turbines. Finance and Policy This region is estimated to be highly attractive during the forecast period, as the development of infrastructure related to wind farms is increasing at a rapid pace in the region. China accounted for a leading share of this control systems market in Asia Pacific in 2018. This was primarily ascribed to the increased number of wind farms in the country in 2018. center_img Furthermore, the demand for control systems is directly linked to the demand of wind turbines, as this system needs to be installed in every wind turbine. Thus, increasing awareness about green energy and stringent government rules and regulations are key driving factors for the global wind turbine control systems market. Increased awareness about green energy coupledwith stringent government rules and regulations about emissions of greenhousegases (GHGs) and carbon are compelling companies to find out more effective andpollution-free energy generation methods. Major global developments In terms of market share, Europe follows Asia Pacific in the global wind turbine control systems market. Government policies that are promoting wind energy production in the region are anticipated to propel the wind turbine control systems market in Asia Pacific during the forecast period. The global wind turbine control systems market was valued at $7.06 billion in 2018 and is anticipated to expand at a CAGR of ~10% during the forecast period by the end of 2027. Wind energy is a prominent alternative for the energy generated from fossil fuels. Over the last five years, the world has witnessed around 60% rise in the wind energy production. In 2014, wind energy capacity stood at around 370GW and, in 2018, it stood at around 591GW. In January 2020, GE, EDF, and ESB Renewables were awarded a multimillion-dollar project for offshore wind farm project. The deal brings together collaborative expertise to flexibly deliver significant efficiencies to EDF Renewables and ESB. The project would help deliver low-carbon energy to 375,000 homes in Scotland, the UK. Sign up for the ESI Africa newsletter Low carbon, solar future could increase jobs in the future – SAPVIA According to Transparency Market Research, based on type, the main control systems segment held a dominant share of the global wind turbine control systems market in 2018. This dominance is primarily due to the high demand from wind turbine manufacturers, as the main control system controls the entire wind turbine. TAGSwind energy Previous articleSiemens Gamesa lands contract to build Djibouti’s first wind farmNext articleGlobal power industry deals total $44.83bn in Q4 2019 Nicolette Pombo-van ZylAs the Editor of ESI Africa, my passion is on sustainability and placing African countries on the international stage. I take a keen interest in the trends shaping the power & water utility market along with the projects and local innovations making headline news. Watch my short weekly video on our YouTube channel ESIAfricaTV and speak with me on what has your attention. Among components, the hardware segment accounted for a major share of this global market in 2018. Demand for hardware for use in wind turbines is high, due to frequent repair and replacement of hardware. BRICSlast_img read more