Wind energy is playing a critical role in establishment of an environmentally sustainable low carbon economy. The wind turbine alternator is an essential part of a fuel efficient wind power generation system. With developments in technology, turbine component manufacturing companies are producing fuel efficient and low maintenance wind turbine alternators. Permanent magnet series hybrid alternators have been developed which are far more efficient than conventional induction alternators. Wind turbine manufacturers are presented with several challenges which include increasing power output, reducing the weight of components, ease of manufacturing and increasing component reliability. Companies manufacturing wind turbine alternators are thus focused towards developing a more effective solution to meet the requirement of wind turbine manufacturers. The market for wind turbine alternator is anticipated to grow at a substantial rate owing to increasing requirement of fuel efficient systems in the wind power generation market.
The market for wind turbine alternators is directly influenced by the installation trend of wind turbines. The growing awareness towards renewable energy resources and increasing adoption of wind as a viable form of energy is encouraging investment in wind turbine alternator market. Energy security measures and focus towards energy portfolio diversification are acting as primary drivers for adoption of wind technology. There is a huge potential for power generation from wind energy, as wind is available everywhere in the world. There are no fuel costs, no supply import dependency and no geopolitical risk. Another factor favoring the use of wind energy is that it can be installed much faster than other energy source technologies. In many parts of the world, for large scale deployment of wind power, considerable advancements of grid infrastructure will be required. Lack of substantial grid infrastructure acts as a restraint in further development of wind technology. However, increasing wind installations in offshore locations will provide a major boost to the wind turbine alternators market in the future.
The market for wind turbine alternator can be segmented into two major categories on the basis of type and rated power. On the basis of type the market can be segmented as permanent magnet series alternators and induction alternators. The market for permanent magnet series alternators is anticipated to grow at a considerable rate when compared to conventional induction alternators. On the basis of power rating the market can be segmented as 300 W- 700 W, 700 W-1500 W and 1500 W-3000 W.
Nations vastly employing wind power generation are likely to be attractive markets for wind turbine alternator. USA, Germany, France, Spain, UK, China and India are the major markets for wind energy in the world at present. Currently, the US is the largest wind turbine alternator market in the world, but there is an expectation that China will surpass it to become the leader in wind services expenditure. Asia is the region where most of the expansion is taking place at present. European countries such as Germany, France and UK have intensively invested in wind technology thus these nations also account for a significant portion of the overall market share of global wind turbine alternator market.
Some of the major players investing in the wind turbine alternator are Moog Inc., Emerging Energies Pvt. Ltd., GE Energy, Alxion STK, Aeolos Wind Energy Ltd, and Gamesa Corporacion Tecnologica.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.