Press release
Multi-rotor Wind Turbine Market Research Growth by Manufacturers, Type and Application, Forecast Analysis 2031
Multi-rotor Wind Turbine Market
Global demand for energy derived from alternative and renewable sources has been rising at a significant pace since the last few years. Wind turbine produces energy from the incoming wind by converting kinetic energy into electrical energy.
Several wind turbine rotors are mounted on support structures in multi-rotor wind turbines. Multi-rotor wind turbine creates less turbulence and gives higher energy output vis-à-vis conventional single rotor wind turbine.
Blades with larger diameter need to be installed in order to improve the electricity generation capacity in a single rotor wind turbine. This maximizes its initial setup cost. The transport of structure also becomes cumbersome. Breakdown of the rotor leads to a stoppage of the functioning of the turbine.
In multi-rotor wind turbine, a number of small rotors can be mounted on support structures. This helps produce more energy output with less setup cost. Furthermore, breakdown in one rotor does not stop the functioning of the turbine.
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Key Drivers and Restraints of Multi-rotor Wind Turbine
Production of sustainable sources of energy, such as wind energy, has been increasing significantly across the globe in order to reduce the adverse impact of global warming. According to the Global Wind Energy Council (GWEC), the wind industry is anticipated to bring total global wind power capacity nearly to 1000 GW by the end of 2024 with new installation of 348 GW capacity between 2020 and 2024.
Technological innovation with respect to design of wind turbine materials such as glass composites to reduce the maintenance and installation cost is expected to drive the global multi-rotor wind turbine market during the forecast period. Smaller components made up of modern glass composites are cheaper, and easy to transport and assemble. Furthermore, these components are easy to install and repair. This reduces the installation and maintenance costs.
Requirement of high technical skill for installation of wind turbines is expected to hamper the global multi-rotor wind turbine market during the forecast period
COVID-19 Impact Analysis on Power Demand
Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, have come to a halt because of lockdowns. This has adversely affected the demand for electricity for commercial purposes. In turn, this has hampered the global multi-rotor wind turbine market.
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Multi-rotor Wind Turbine Market Segmentation
The global multi-rotor wind turbine market can be segmented based on installation type and capacity
In terms of installation type, the global multi-rotor wind turbine market can be bifurcated into on-shore and off-shore. The off-shore segment is anticipated to expand at a faster pace, as off-shore installation helps curb effects such as noise pollution and environmental damage.
In terms of capacity, the global multi-rotor wind turbine market can be classified into 0-2 MW, 2-6 MW, 6-9 MW, and 9 MW & above. According to statistics provided by the International Renewable Energy Agency, commercial available wind turbine have reached 8 MW rated capacity, while the average rated capacity of wind turbine increased from 1.6 MW in 2009 to 2 MW in 2014.
Key Players Operating in Global Market
Currently, the global multi-rotor wind turbine market is in the nascent stage. Hence, a few companies are operating in the global multi-rotor wind turbine market. These include:
EnerOcean
Airgenesis LLC
Vestas
Global Multi-rotor Wind Turbine Market: Research Scope
Global Multi-rotor Wind Turbine Market, by Installation Type
On-shore
Off-shore
Global Multi-rotor Wind Turbine Market, by Capacity
0-2 MW
2-6 MW
6-9 MW
9 MW & Above
Global Multi-rotor Wind Turbine Market, by Region
North America
Europe
Asia Pacific
Latin America
Middle East & Africa
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Multi-rotor Wind Turbine Market: Regional Segmentation
In terms of region, the global multi-rotor wind turbine market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
China is expected to dominate the market in Asia Pacific during the forecast period. According to the International Renewable Energy Agency, total renewable electricity generation in Asia Pacific stood at 26,43,589 GWH in 2018; of this, 13.86% of electricity is generated by wind energy sources in China.
The U.S. dominated the market in North America by installing nearly 17 GW new capacity in 2020. According to the Global Wind Energy Council (GWEC), total wind power capacity of North America was 136 GW in 2020. On the other hand, total wind power capacity of Latin America stood at 34 GW in 2020. Brazil dominated the market in Latin America with installation of nearly 2.3 GW capacity in 2020. North America and Latin America have increased wind power installation capacity by 62% in 2020. This helps curb around 250 million tons of carbon dioxide emission annually.
Germany is expected to dominate the market in Europe during the forecast period. According to the International Renewable Energy Agency, total renewable electricity generation in Europe stood at 12,97,883 GWH in 2018; of this, 08.47% of electricity is generated by wind energy sources in Germany.
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