Pune, India, November 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Wind Turbine Pitch Systems Market.
The global market for wind turbine pitch systems is projected to be valued at USD 1.59 billion by 2027, with ~3.03% CAGR during the forecast period, 2022–2030. Wind turbine pitch systems are used to regulate the turbine according to external conditions such as wind speed, power generation, and generator. The pitch systems also allow the rotors to operate within defined speed limits to ensure the safe operation of the wind turbine.
In 2019, Asia-Pacific dominated the global wind turbine pitch systems market in terms of share: MRFR
The wind turbine pitch systems market has been segmented into five regions: Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. Asia-Pacific is expected to hold the largest share of the market during the forecast period. This is primarily as countries in the region are extensively focused on developing wind energy sources to reduce carbon emissions. In Asia-Pacific, China held the largest share in the market and is expected to grow at the fastest CAGR during the forecast period due to the availability of low-cost equipment in the country. In North America, the US held the largest market share in 2019 and is expected to grow at the fastest rate during the forecast period, primarily due to the high demand for off-grid electricity. In Europe, Germany held the largest market share in 2019 due to extensive government support to adopt wind energy. The wind turbine pitch systems market is expected to grow at the fastest CAGR in the UK during the forecast period due to the increasing demand for electricity in the country.
The global wind turbine pitch systems market has been segmented based on product type and application. Based on product type, the global market is divided into pitch motors, pitch valves, pitch pumps, remote terminal software, and others. The pitch motors segment is expected to hold the largest share of the market during the forecast period, owing to the increasing installations of wind equipment. However, the remote terminal software segment is expected to grow at the fastest rate during the forecast period due to the software's decreasing cost and high efficiency. Based on application, the wind turbine pitch systems market is segmented into onshore and offshore. The onshore segment held the larger market share in 2019, while the offshore segment is expected to grow with the higher CAGR during the study period due to the rising demand for offshore wind turbines.
Global Market for Wind Turbine Pitch Systems is expected to grow at a 3.03% CAGR during the forecast period.
Scope of the Report
This report provides an in-depth analysis of the global wind turbine pitch systems market, tracking three market segments across five geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights the market size and share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global wind turbine pitch systems market by product type, application, and region.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Wind Turbine Pitch Systems Market Research Report
The key players operating in the global wind turbine pitch systems market are Osterholz AntriebsTechnik GmbH, General Electric, Siemens AG, ABB, Global Wind Power Ltd., Inox Wind Ltd., Kenersys Group, Pioneer Wincon Pvt. Ltd., RRB Energy, and Enercon GmbH.