Press release
Global Anemometer Market Projected to Grow at 6.5% CAGR, Reaching $49.41 Billion by 2029
Anemometer
What Will the Anemometer Industry Market Size Be by 2025?
In recent times, the anemometer market has experienced considerable growth. It is projected that this market will expand from $36.44 billion in 2024 to $38.47 billion in 2025, representing a compound annual growth rate (CAGR) of 5.6%. Factors influencing this growth during the historical period include an increased focus on safety in the workplace, a rising demand for wind energy blisters, increased investment in renewable energy sources, expansion in the marine sector, and growing concerns regarding climate change.
What's the Long-Term Growth Forecast for the Anemometer Market Size Through 2029?
In the years to come, the anemometer market is predicted to experience robust growth, reaching a value of $49.41 billion by 2029, courtesy of a compound annual growth rate (CAGR) of 6.5%. This predicted improvement in the forecast period can be credited to factors such as heightened oil and gas prospecting actions, a surge in extreme weather incidents, an uptick in construction projects, a rise in the utilization of wind energy, and a growing emphasis on environmental awareness. Key trends to watch during this forecast period include the advancement in sensor technologies, the advent of intelligent anemometers, digital anemometers, strategic partnerships, and innovative wind measurement technologies.
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What Are the Key Growth Drivers Fueling the Anemometer Market Expansion?
The rising uptake of wind energy is projected to spur the expansion of the anemometer market in the future. Government policies, cost reductions, technological innovations, and the worldwide drive for carbon neutrality have led to an increased implementation of wind energy. Wind energy's appeal lies in its sustainability, cost-efficiency, technology advancements, and global commitment to lowering carbon emissions. Anemometers, which measure wind speed and direction, are crucial for evaluating potential locations for wind farms, optimizing turbine effectiveness, and monitoring real-time wind conditions for electricity production. An example of this is in April 2024, the Global Wind Energy Council, an international trade association for the wind power industry based in Portugal, reported that a record-breaking 117 GW of new wind power capacity was installed globally in 2023, indicating a 50% increase compared to the previous year. The year marked the highest volume of new onshore wind installations, surpassing 100 GW, and the second highest volume for offshore wind at 11 GW. The global wind industry also achieved the 1 TW landmark of installed capacity, with projections to attain 2 TW by 2030. Thus, the escalating adoption of wind energy is fuelling the advancement of the anemometer market.
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What Are the Key Trends Driving Anemometer Market Growth?
Enhancing measurement accuracy, durability and operational efficiency are the objectives targeted by leading corporations in the anemometer market with a focus on creating dual-axis ultrasonic anemometers. Essentially, a dual-axis ultrasonic anemometer employs ultrasonic sensors for gauging wind speed and direction on two perpendicular axes without the necessity of movable parts. To exemplify, Gill Instruments Ltd., a British sensor manufacturing corporation, announced the release of the WindUltra in July 2023. This dual-axis ultrasonic anemometer is created for a range of applications, both marine and terrestrial. The WindUltra is characterized by its speedy installation and alignment options, inclusive of a twist-lock 1-inch pole mount and a 1.75-2 inch band-clamp pole mount. Additionally, it provides superior-precision wind measurements, rendering it appropriate for varied environmental conditions.
How Is the Anemometer Market Segmented?
The anemometermarket covered in this report is segmented -
1) By Type: Vane Anemometer, Cup Anemometer, Hot-Wire Anemometer, Other Types
2) By Technology: Light Detection And Ranging (LIDAR), Sonic Detection And Ranging (SODAR)
3) By Measurement Type: Air Velocity Measurement, Wind Speed Measurement, Wind Pressure Measurement
4) By Application: Offshore, Onshore
5) By End-User Industry: Agriculture, Aviation, Oil And Gas Industries, Marine, Transport And Logistics, Other End-User Industries
Subsegments:
1) By Vane Anemometer: Digital Vane Anemometer, Analog Vane Anemometer, Handheld Vane Anemometer, Fixed Vane Anemometer
2) By Cup Anemometer: Three-Cup Anemometer, Four-Cup Anemometer, Wireless Cup Anemometer, Mechanical Cup Anemometer
3) By Hot-Wire Anemometer: Constant Temperature Hot-Wire Anemometer, Constant Current Hot-Wire Anemometer, Single Sensor Hot-Wire Anemometer, Multi-Sensor Hot-Wire Anemometer
4) By Other Types: Ultrasonic Anemometer, Laser Doppler Anemometer, Acoustic Resonance Anemometer, Pressure Tube Anemometer
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Which Companies Are Leading the Charge in Anemometer Market Innovation?
Major companies operating in the anemometer market are Thermo Fisher Scientific Inc., Saras Equipments, Teledyne FLIR LLC, Vaisala Corporation, SONIC Corporation, Omega Engineering Inc., Kanomax USA Inc., Lufft, FT Technologies, Gill Instruments Limited, ANEOS Corporation, E+E Elektronik Ges.m.b.H., Delta Ohm Benelux, Cole-Parmer Instrument Company LLC., PCE Instruments India Private Ltd., R. M. Young Company, Ammonit Measurement GmbH, IED Electronics, LCJ Capteurs, NRG Systems
Which Regions Are Leading the Global Anemometer Market in Revenue?
North America was the largest region in the anemometer market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the anemometer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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