Global Wind Turbine Automation Market: Overview
Globally, the demand for energy derived from alternative and renewable sources is rising at a robust pace. This is expected to boost the market for wind turbine automation. Wind turbine automation is a process of installing computer-based intelligent systems to control the turbine operations and detect faults. The technology has gained much significance lately since it helps in optimizing wind turbine operations through motion control and maximizing energy conversion.
A modern wind turbine is capable of functioning for over 120,000 hours through an estimated lifespan of 20 years. The present wind turbine designs are therefore intended to ensure long-term productivity which makes automation imperative for optimizing turbine performance. It is possible to either completely integrate automation in a wind turbine or implement automation in any of its specific parts.
The demand for wind turbine automation has significantly risen in the last few years, in order to protect wind turbine infrastructural components from hazards and achieve maximum efficiency in conversion rate. In response to the increasing rate of wind turbine automation, efficiency of harnessing energy from wind will grow and the dependency on exhaustible resources such as oil and coal will reduce.
The report presents a comprehensive overview of the global wind turbine automation market. It profiles some of the leading companies operating in the market to study the prevailing vendor landscape. Using industry leading analytical tools, the report also weighs out the strengths and weaknesses of these companies and assesses the threats and opportunities that they are expected to witness in the forecast period.
Global Wind Turbine Automation Market: Key Opportunities and Threats
Automating wind turbine ensures better safety, efficiency, reliability, higher energy conversion rate, better economy of scale, and increased durability. Automation also provides protection from accidental failure during installation or maintenance. On the flip side, the high cost incurred on replacing traditional infrastructure inhibits the growth of the market to an extent. While several technological advancements are underway, they might need more time to mature.
During the forecast period, the global market for wind turbine is expected to report growth at an impressive rate. The increasing adoption of wind energy as a popular renewable source will boost the market for wind turbine. Depleting natural resources, favorable policies by government institutions that encourage harnessing wind power, and rising efforts to curb carbon emissions are the key factors driving the global wind turbine market.
Despite witnessing growth at a positive pace, the enterprises operating in the global wind turbine market face competition from other emerging sources of renewable power such as solar cells. This subsequently hampers the growth exhibited the global wind turbine automation market.
Global Wind Turbine Automation Market: Regional Outlook
The global wind turbine automation market witnesses rising demand from Germany and the U.S. These countries have proven to be lucrative for the market since they are at the fore of adopting the latest technologies. The rapid growth witnessed by the wind turbine market will translate into the rising demand for wind turbine automation. Furthermore, governments around the world are increasingly investing in automating wind turbine operations to cater to the rising power demand worldwide.
The wind turbine automation market will also witness increasing demand from countries such as India and China. These developing nations will emerge as leading markets for wind turbine automation in the near future.
Global Wind Turbine Automation Market: Vendor Landscape
To study the prevailing vendor landscape, the report profiles companies such as ABB, Rockwell Automation, Inc., Bachmann electronic GmbH, and Siemens AG. The strengths and weaknesses of these companies are analyzed in the report. The opportunities and threats that these companies are expected to face during the report’s forecast period are also studied in detail.
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.