Wind Turbine Automation Market Size Set to Surge Fruitfully throughout the Anticipated Period 2017 - 2025
Globally, the demand for energy derived from alternative and renewable sources is rising at a robust pace. This is expected to boost the market for wind turbine automation. Wind turbine automation is a process of installing computer-based intelligent systems to control the turbine operations and detect faults. The technology has gained much significance lately since it helps in optimizing wind turbine operations through motion control and maximizing energy conversion.
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A modern wind turbine is capable of functioning for over 120,000 hours through an estimated lifespan of 20 years. The present wind turbine designs are therefore intended to ensure long-term productivity which makes automation imperative for optimizing turbine performance. It is possible to either completely integrate automation in a wind turbine or implement automation in any of its specific parts.
The demand for wind turbine automation has significantly risen in the last few years, in order to protect wind turbine infrastructural components from hazards and achieve maximum efficiency in conversion rate. In response to the increasing rate of wind turbine automation, efficiency of harnessing energy from wind will grow and the dependency on exhaustible resources such as oil and coal will reduce.
The report presents a comprehensive overview of the global wind turbine automation market. It profiles some of the leading companies operating in the market to study the prevailing vendor landscape. Using industry leading analytical tools, the report also weighs out the strengths and weaknesses of these companies and assesses the threats and opportunities that they are expected to witness in the forecast period.
Global Wind Turbine Automation Market: Key Opportunities and Threats
Automating wind turbine ensures better safety, efficiency, reliability, higher energy conversion rate, better economy of scale, and increased durability. Automation also provides protection from accidental failure during installation or maintenance. On the flip side, the high cost incurred on replacing traditional infrastructure inhibits the growth of the market to an extent. While several technological advancements are underway, they might need more time to mature.
During the forecast period, the global market for wind turbine is expected to report growth at an impressive rate. The increasing adoption of wind energy as a popular renewable source will boost the market for wind turbine. Depleting natural resources, favorable policies by government institutions that encourage harnessing wind power, and rising efforts to curb carbon emissions are the key factors driving the global wind turbine market.
Despite witnessing growth at a positive pace, the enterprises operating in the global wind turbine market face competition from other emerging sources of renewable power such as solar cells. This subsequently hampers the growth exhibited the global wind turbine automation market.
Global Wind Turbine Automation Market: Regional Outlook
The global wind turbine automation market witnesses rising demand from Germany and the U.S. These countries have proven to be lucrative for the market since they are at the fore of adopting the latest technologies. The rapid growth witnessed by the wind turbine market will translate into the rising demand for wind turbine automation. Furthermore, governments around the world are increasingly investing in automating wind turbine operations to cater to the rising power demand worldwide.
The wind turbine automation market will also witness increasing demand from countries such as India and China. These developing nations will emerge as leading markets for wind turbine automation in the near future.
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Global Wind Turbine Automation Market: Vendor Landscape
To study the prevailing vendor landscape, the report profiles companies such as ABB, Rockwell Automation, Inc., Bachmann electronic GmbH, and Siemens AG. The strengths and weaknesses of these companies are analyzed in the report. The opportunities and threats that these companies are expected to face during the report’s forecast period are also studied in detail.
Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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