Wind Turbine Lenses: Introduction
- Wind turbine lenses are a type of wind power system, comprising a brimmed ring structure that surrounds the rotor that causes wind to pass through the turbine. Wind turbine lens are used to improve the power output of an existing wind turbine. It can generate two to five times the power of an existing wind turbine at the same rotor diameter and incoming wind speed.
Key Drivers and Restraints of Wind Turbine Lenses Market
- Increase in efforts to enhance the output power of wind turbine in order to meet the rising demand for electricity is expected to drive the global wind turbine lenses market. For instance, electricity consumption in Asia increased from 8,866 TWh in 2015 to 10,716 TWh in 2019. Wind turbine lenses can optimize the power output of a wind turbine by two to five times compared to conventional wind turbine.
- Rise in investment in wind projects due to the growth in awareness about green energy and enactment of stringent government rules and regulations on emission of greenhouse gases (GHGs) and carbon is a key factor anticipated to propel the global wind turbine lenses market during the forecast period
- Availability of inexpensive alternate sources of energy such as solar, hydro power, and fossil fuel is estimated to restrain the wind energy market. Sales of wind turbine lenses depend directly on the sales of wind turbines. This, in turn, is projected to hamper the global wind turbine lenses market during the forecast period.
COVID-19 Impact Analysis
- In the initial phase of the COVID-19 outbreak, lockdowns were imposed across the globe to limit the spread of the disease. This led to restriction on the movement of goods and individuals, thereby impacting wind energy projects.
- Various countries announced significant investments in wind energy projects in the second quarter of 2020. Investors in wind energy announced plans to introduce 28 new offshore wind farms worth US$ 35 Bn in 2020, four times more than that in the first half of 2019.
Onshore Application Segment Expected to Hold Prominent Share of Global Market
- The global wind turbine lenses market can be segmented based on application and region
- Based on application, the global wind turbine lenses market can be segregated into onshore and offshore. The onshore segment held major share of the global wind turbine lenses market in 2019. Ongoing investment in installation of wind turbines in onshore locations is anticipated to propel the onshore application segment of the wind turbine lenses market during the forecast period.
- The offshore segment is projected to expand at a faster pace between 2021 and 2031, as offshore wind turbines are more efficient compared to onshore wind turbines, due to consistent wind speed and direction
Asia Pacific Expected to Constitute Major Share of Global Wind Turbine Lenses Market
- In terms of region, the global wind turbine lenses market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- Asia Pacific is expected to hold major share of the wind turbine lenses market during the forecast period. This can be ascribed to the development of new wind farms across the region along with an increase in spending in to wind energy infrastructure.
- Europe and North America are key regions of the global wind turbine cables market. Introduction of government policies to promote the production of wind energy in these regions to meet the continuously surging demand for electricity is anticipated to boost the wind turbine lenses market in Europe and North America during the forecast period.
- The wind turbine lenses market in Latin America and Middle East & Africa is likely to expand during the forecast period due to ongoing investment in wind energy projects in these regions
Key Players Operating in Global Market
Currently, the global wind turbine lenses market is in the research phase. Hence, no manufacturer is operating in the marketplace.
Global Wind Turbine Lenses Market, by Application
Global Wind Turbine Lenses Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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
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- 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
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Below is a snapshot of these quadrants.
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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.
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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?
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