Introduction to Wind Turbine
Wind energy is classified under clean energy as it generates electricity without any environmental impact. Wind turbine converts the kinetic energy from the wind into electrical energy using the aerodynamic force created by the rotating blades. When the wind flows across the blade, it is utilized by wind turbines to generate electricity. The variation in air pressure around both the blades creates both lift and drag. All wind turbines are designed for survival speed with respect to their utilization and design.
In a pitch controlled wind turbine system, the electronic system generally adjusts the blades a few degrees every time the wind speed changes in order to keep the rotor blades at an optimal angle and to enhance the output for wind at all speeds.
Market Size and Forecast
Wind turbine pitch system market is anticipated to grow steadily based on increased awareness about the usage of renewable energy. Increase in demand of power supply around the globe is another factor contributing to the growth of the market. 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 utilization of wind energy is encouraging countries from around the globe 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 available options to regulate the output power of a wind turbine generator. These factors are anticipated to boost the growth rate of this market.
The wind turbine pitch system market is anticipated to record a CAGR of 2.1% over the forecast period i.e. 2019-2027. The market is segmented by application type into offshore and onshore, out of which, the offshore segment is anticipated to hold leading shares in the wind turbine pitch system market on account of higher. The market is further segmented by product type into hydraulic and electrical pitch systems.
Growth Drivers
Awareness about the Usage of Renewable Energy
The rising awareness about the benefits of using renewable energy is the driving force behind the growth of the wind turbine pitch system market. Wind turbine uses wind as its raw material and does not affect environment adversely. Moreover, most of the countries are signatories to international protocols under United Nations Framework Convention on Climate Change (UNFCCC) in which they have to develop clean energy mechanism to support reduction of greenhouse gases. This is anticipated to fuel the growth of the market.
Increase in Demand for Power Supply
Rising rate of power consumption is driving the demand for power supply across the world. With the rigorous industrialization and urbanization, the demand for power supply has increased many folds in last few years. Additionally, the demand from countryside and rural areas has been increasing. Wind turbines play a key role in supplying electricity to remote areas. According to a survey, power generated by wind is anticipated to be third leading source of energy generation around the globe by 2050. These factors are anticipated to drive the growth of the market during the forecast period.
Restraint
High Initial Setup Cost
The initial setup and the overall cost of installing wind turbines is high which is expected to negatively affect the growth of the market during the forecast period.
Market Segmentation
Our-in depth analysis of the wind turbine pitch system market includes the following segments:
By Product Type
- Hydraulic Pitch System
- Electrical Pitch System
By Application
- Offshore
- Onshore
By Region
On the basis of regional analysis, the wind turbine pitch system market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Asia Pacific is anticipated to account for major share of the wind turbine pitch system market. The region has one of the highest wind power installed capacity in the world. Countries such as China and India are experiencing high rate of industrialization and urbanization. These countries possess required geographical locations such as large coastal areas and open plains for production of wind energy. The market in North America and Europe is estimated to hold significant share of the market after Asia Pacific owing to the favorable climatic conditions. 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. Consumption of wind power is estimated to be on track of solid growth in Europe over the forecast period riding on the back of increased initiatives and investment towards clean energy generation.
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The wind turbine pitch system market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Key Players
- Bosch Rexroth AG
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- 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.
- OAT GmbH
