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@mandarshewale
June 23, 2020

Global Wind Turbine Control System Market by Component Types (Hardware, Software), Function Types (Speed Control, Temperature Control, Load Control, Pressure Control), Product Types (Steam Turbine Control System, Gas Turbine Control System) and Regions (A

The wind turbine control system market was valued at approximately USD 8.5Billion in 2019 and is expected to surpass USD 15.5Billion by 2026, expanding at a CAGR of 10% during the forecast period 2020-2026. A wind turbine, or alternatively referred to as a wind energy converter, is a device that converts the wind's kinetic energy into electrical energy. Wind turbines are manufactured in a wide range of vertical and horizontal axis. The smallest turbines are used for applications such as battery charging for auxiliary power for boats or caravans or to power traffic warning signs. Larger turbines can be used for making contributions to a domestic power supply while selling unused power back to the utility supplier via the electrical grid. Arrays of large turbines, known as wind farms, are becoming an increasingly important source of intermittent renewable energy and are used by many countries as part of a strategy to reduce their reliance on fossil fuels. One assessment claimed that, as of 2009, wind had the "lowest relative greenhouse gas emissions, the least water consumption demands and the most favorable social impacts" compared to photovoltaic, hydro, geothermal, coal and gas. The turbine control system is a digital control system that is designed to control and protect the different types of turbines including steam turbines, gas turbines, and others (wind and hydro turbines). The operation of the control system is conducted through the electronic functions and algorithms that are incorporated in the software and hardware components of the turbine control system. An advanced wind turbine control system reduces the loads on wind turbine components while capturing more wind energy and converting it into electricity.

Market Trends, Drivers, Restraints, and Opportunities:

  • Rise in demand of renewable energy sources along with increasing demand for power supply are some of the factors expected to drive growth of the target market.
  • The rising demand for uninterrupted power, integration of control and automation technologies in systems, and increasing investment in renewable sources for better capacity utilization and high efficiency.
  • The shift of focus to solar energy has been a factor that has been restraining this market. This has been due to fact that the installation cost of a solar field is less as compared to a wind-mill farm.
  • There is a huge potential for manufacturers in tapping into different regions to grow their business. There is a huge potential for growth in Middle East and Africa. There has been a rapid rise in urbanization, industrialization, which is coupled with rising energy demand. These are factors expected to boost growth of the global market over the forecast period.

Scope of the Report

The report on the wind turbine control system market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report. AttributesDetailsBase Year2020Historic Data2015-2018Forecast Period2020–2026Regional ScopeAsia Pacific, Europe, North America, Middle East and Africa, Latin AmericaReport CoverageCompany Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Wind Turbine Control System Market Segment Insights:

Based on component types, the market is segmented into hardware and software. The hardware segment is further segmented into controller, sensors, human machine interface (HMI). Hardware has the highest market share in this segment. In hardware, the sensor segment is projected to account major revenue share in the global market, and is expected to maintain its dominance over the forecast period. In terms of function types, the market is divided into speed control, temperature control, load control, pressure control. The temperature control segment is anticipated to register significant growth rate in the target market. Load control and pressure control are predicted to grow at a steady rate during the forecast period. In terms of product types, the market is bifurcated to steam turbine control system, gas turbine control system. the steam turbine control system is the fastest-growing segment of the turbine control system market and is expected to grow during the forecast period. Market share of gas turbine control system is expected to grow at a steady rate during the forecast period. On the basis of regions, the market is segregated into North America, Europe, Asia Pacific, Latin America and Middle East and Africa. Asia Pacific dominated the global wind turbine control systems market owing to the rise in the number of wind farms in the region. Europe is estimated to be a highly attractive region of the global wind turbine control systems market during the forecast period. Its share is predicted to rise significantly in the global wind turbine control systems market during the forecast period. The wind turbine control systems market in North America is estimated to witness high attractiveness during the forecast period, due to ongoing developments in the wind farm sector.

Competitive Landscape:

The global wind turbine control system market is fragmented with presence of various regional and global players. The Prominent Players in the Global Wind Turbine Control System Market are Emerson Electric Co., Honeywell International, Inc., General Electric Company, ABB, Woodward, Inc., Heinzmann GmbH & Co. KG, In no way Future Solutions Pte Limited, DNV GL, Rockwell Automation, Siemens AG, Spica Technology Aps, HPI, LLC. ALL and Mita-Teknik. Each of the players compete with each other to gain majority market share on the basis of innovation of their products and mergers and acquisitions. In June 2018, KK Wind Solutions and Vestas announced the successful completion of APQP4Wind, the first project that used the new common standards in the wind industry. The project started with APQP4Wind kick-off meeting with customers to align expectations and quality standards. Vestas has been using the APQP4Wind project model for a Vestas specific UPS panel development project using KK Wind Solutions as a partnering systems supplier.

The global wind turbine control system market has been segmented on the basis of

Component Types

  • Hardware
  • Software

Function types

  • Speed control
  • Temperature control
  • Load control
  • Pressure control

Product Types

  • Steam turbine control system
  • Gas turbine control system

Regions

  • Asia Pacific
  • Europe
  • North America
  • Middle East and Africa
  • Latin America

Also Read : https://dataintelo.com/report/satellite-based-earth-observation-market/

@mandarshewale
June 23, 2020, 19:51
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