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Global wind turbine control systems market is anticipated to expand at a CAGR of ~10% during the forecast period 2019 - 2027
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Wind Turbine Control Systems Market Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2024 ©2019 Transparency Market Research, All Rights Reserved
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Wind Turbine Control Systems Market: Introduction In the next few years as well, the rising production of LNG will remain a key driver of the global cryogenic tanks market. According to Transparency Market Research, the market was valued at US$740.2 mn in 2015 and is expected to reach US$1,433.0 mn in 2024, expanding at a CAGR of 7.7% between 2016 and 2024. The global cryogenic tanks market features an increasingly fragmented landscape with intense level of competition, finds Transparency Market Research (TMR). View Report Download Brochure ©2019 Transparency Market Research, All Rights Reserved
Key Driver of Wind Turbine Control Systems Market • Increased awareness about green energy coupled with stringent government rules and regulations about emissions of greenhouse gases (GHGs) and carbon are compelling companies to find out more effective and pollution-free energy generation methods. • Wind energy is a prominent alternative for the energy generated from fossil fuels. The process of energy generation from fossil fuels emits greenhouse gases (GHGs), which can cause serious damage to the environment such as global warming, air pollution, and land pollution. • Over the last 5 years, the world has witnessed around 60% rise in the wind energy production. In 2014, the wind energy produced stood at around 370 Giga-watts and, in 2018, it stood at around 591 Giga-watts.
Major Developments in Wind Turbine Control Systems Market In January 2020, GE, EDF, and ESB Renewables were awarded a multimillion dollar project for offshore wind farm project. The deal brings together collaborative expertise to flexibly deliver significant efficiencies to EDF Renewables and ESB. The project would help deliver low-carbon energy to 375,000 homes in Scotland, the U.K. In June 2019, Mita-Teknik announced the launch of a new-generation blade pitch system for use in onshore and offshore wind turbines. The Mita Pitch System is a flexible pitch solution for use in turbines of up to 12 MW, which boasts design life of 30 years. The new system is designed to effectively minimize O&M costs, reduce downtime, and improve productivity. ©2019 Transparency Market Research, All Rights Reserved
Competition Landscape of Wind Turbine Control Systems Market General Electric, Siemens, ABB Emerson Electric Co Moog Inc. Mita-Teknik Rockwell Automation, Inc ©2019 Transparency Market Research, All Rights Reserved
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