ID: MRFR/E&P/8875-HCR | 111 Pages | Published By Priya Nagrale on April 2023
Wind Turbine Pitch Systems Market share is projected to reach USD 1738.95 Million by 2030, with 3.03% CAGR during the forecast period.
$1738.95 Million
3.03%
Asia Pacific
2022-2030
Wind Turbine Pitch Systems Market size is projected to reach USD 1738.95 Million by 2030, with 3.03% CAGR during the forecast period.
Wind Turbine pitch control systems help in monitoring the turbine’s pitch regarding external conditions like wind speed, power generation, and generator. For the safety of the wind turbines, the pitch system allows rotors to operate within predetermined speed limitations. As wind energy creates electricity without any harm to the environment, wind energy is said to be clean energy. Wind Turbines convert kinetic energy into electrical energy with the help of aerodynamic force provided by a revolving blade.
These turbines use wind for generating power during the flow across the blade. All wind turbines are designed for survival speed in terms of utilization and design. The electronic system controlled the blades a few degrees by changing the wind speed in a pitch-controlled wind turbine system. This adjustment keeps the rotor blades at an optimal angle and enhances the output at all speeds. Rising demand for sustainable energy generation for reducing harmful gas emissions, rising government regulations to adopt offshore wind for the generation of electricity, growing awareness regarding the benefits of renewable energy, reducing the cost of the wind turbine, and growing demand for power supply are the major factors accelerating the growth of the wind turbine pitch system market.
The major factors driving the growth of the global wind turbine pitch systems market are the growing demand for electricity generation from wind energy and increasing government initiatives to adopt offshore wind for electricity generation. Furthermore, the increasing demand for sustainable electricity generation to reduce the emission of harmful gases is also expected to have a substantial impact on the growth of the global wind turbine pitch systems market during the forecast period. The development of large-scale wind turbines has substantially boosted the installation of offshore wind projects globally.
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.
Many major players such as General Electric, Siemens AG, ABB, Global Wind Power Ltd., Inox Wind Ltd, and Kenersys Group are actively focusing on R&D to reduce the manufacturing costs of wind equipment to increase the adoption of wind equipment. For instance, in July 2020, Dongfang Electric Corporation announced that the company began started operations of its 10 MW wind turbine. The development is expected to have a substantial impact on the growth of the company’s market share during the forecast period.
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 decreasing cost and high efficiency of the software. Based on application, the global market is segmented into onshore and offshore. The onshore segment held the largest market share in 2019, while the offshore segment is expected to grow with the highest CAGR during the forecast period due to the rising demand for offshore wind turbines.
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.
Based on region, the wind turbine pitch systems market is segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America. Asia-Pacific holds the largest market share of the wind turbine pitch systems market due to the increasing adoption of onshore wind equipment in the region. Additionally, the wind turbine pitch systems market in Asia-Pacific is expected to grow at the fastest rate during the forecast period, primarily to the numerous government initiatives introduced in the region to increase the adoption of wind energy.
The global wind turbine pitch systems market is expected to witness high growth during the forecast period owing to the increasing demand for low-cost off-grid electricity generation. This is expected to drive the demand for wind turbine pitch systems during the forecast period.
Report Attribute/Metric | Details |
---|---|
Market Size | 2030: USD 1738.95 Million |
CAGR | 3.03% CAGR (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022-2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Million) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product Type, Application |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | 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. |
Key Market Opportunities | New product launches and R&D Amongst major key Players |
Key Market Drivers | Initiatives for adoption of wind energy and demand for electricity generation from alternative energy sources |
global wind turbine pitch systems market size can reach USD 1.56 billion by 2026.
global wind turbine pitch systems market can expand at 3% CAGR from 2020 to 2026.
Initiatives for adoption of wind energy and demand for electricity generation from alternative energy sources are major growth engines of the global market.
Asia Pacific can dominate the global wind turbine pitch systems market.
Inox Wind Ltd., Osterholz AntriebsTechnik GmbH, Global Wind Power Ltd., ABB, RRB Energy, General Electric, Siemens AG, Kenersys Group, Pioneer Wincon Pvt. Ltd., and Enercon GmbH are the key players.