About Wind Turbine Generator -
The wind turbine generator is used for converting the low speed of the turbine to the high speed of the generator. It works with a power source which supplies fluctuating mechanical power. It contains various rare earth metals such as Praseodymium, Terbium, Dysprosium, and Neodymium in permanent magnets. The induction generator should be spun at around 1,000 RPM. Doubly fed induction generators are widely used in the large wind farm and it helps in reducing mechanical stress with higher overall efficiency. A government initiative towards the use of renewable source of energy and growing energy consumption will further accelerate the market growth in the future.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 9.45% |
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Wind Turbine Generator - market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ABB (Switzerland), Siemens Gamesa Renewable Energy S.A., (Spain), GE Renewable Energy (France), Sany Heavy Industry Co., Ltd. (China), Suzlon Energy Ltd. (India), AVANTIS Energy Group (Estonia), Bora Energy (Spain), EWT B.V. (Netherlands), Goldwind Science & Technology (China) and LEITNER AG (Italy) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are NORDEX (Germany), ReGen PowerTech (India), Siemens (Germany), SWAY turbine (Norway) and VENSYS Energy (Germany).
Segmentation Overview
AMA Research has segmented the market of Global Wind Turbine Generator - market by and Region.
On the basis of geography, the market of Wind Turbine Generator - has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Generator Type, the sub-segment i.e. Synchronous Generator will boost the Wind Turbine Generator - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment Type, the sub-segment i.e. Onshore will boost the Wind Turbine Generator - market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technological Improvement in Wind Turbine Generator
Market Growth Drivers:
Rise in Wind Energy Consumption, Increasing Price of Non-Renewable Energy and Increasing Usage of Greenhouse Gas (GHG) Emissions
Challenges:
Usage of Turbines Might Cause Noise and Aesthetic Pollution and Land Suitable Problems for Wind-Turbine Installation
Restraints:
Heavy Investment for the Production and Installation of Wind Turbines
Opportunities:
Growing Investments in Wind Energy and Rising Demand from Emerging Economics Such as India, China and Others
Market Leaders and their expansionary development strategies
In October 2023, Enel Green Power and Nordex Group entered a framework agreement for the procurement of wind turbines across various projects in different countries, solidifying their long-term collaboration.
In June 2023, Goldwind International Unveiled the GW250-16MW offshore wind turbine, further pushing the boundaries of offshore wind technology. This turbine offers high energy production and optimized performance for challenging offshore environments.
Key Target Audience
Manufacturers of Wind Turbine Generator, Suppliers of Wind Turbine Generator, Industry Association, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.