Research Nester published a report titled “ Wind Turbine Pitch System Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global wind turbine pitch system market in terms of market segmentation by product type, by application type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
With significant increase in demand for power supply around the globe, the power generated by wind is anticipated to be the third leading source of energy generation by 2050. Apart from the high initial setup cost, the cost of maintaining turbines and generating wind power is economical. As compared to generating electricity from burning fossil fuels, the wind turbines generate electricity from wind energy. Such properties of wind energy is encouraging countries from across the world to adopt this as an option with respect to conventional power generation systems. The pitch control system is one of the most widely used control techniques in all the available options to regulate the output power of a wind turbine generator. On account of these factors, the market is anticipated to record a CAGR of 2.1% over the forecast period i.e. 2019-2027.
“According to EIA, out of all the renewable forms of energy generation, wind energy accounted for the highest generating capacity of 8% in the United States during 2016.”
The market is segmented by application type into offshore and onshore, out of which, the offshore segment is anticipated to hold significant market shares in the wind turbine pitch system market owing to their higher efficiency. The market is further segmented by product type into hydraulic and electrical pitch system.
Regionally, the market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region, out of which, Asia Pacific is anticipated to have leading shares in the wind turbine pitch system market owing to the presence of highest wind power installed capacity in this region. The market in North America and Europe is estimated to witness notable growth during forecast period.
Rising Utilization of Renewable Energy and Increase in Demand for Power Supply
The rising awareness about the benefits of using renewable energy is the driving force for the wind turbine pitch system market. Moreover, most of the countries are signatories to international protocols under UNFCCC in which they have to develop clean energy mechanism to support reduction of greenhouse gases. These factors are anticipated to support the growth of market.
However, the high initial setup and the overall cost of installing wind turbines might dampen the growth of the market during the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global wind turbine pitch system market which includes company profiling of Bosch Rexroth AG, Mita-Teknik, AVN Hydraulik A/S, Parker Hannifin Corp, MOOG INC., Nidec SSB Wind Systems, MLS Intelligent Control Dynamics, Beijing Techwin, DALIAN HUARUI HEAVY INDUSTRY GROUP CO. LTD. and OAT GmbH.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global wind turbine pitch system market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.