Wind Turbine Alternator Market Key Growth Factors and Forecast up to 2023
Posted by amol on June 20th, 2019
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.
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About the Authoramol
Joined: June 20th, 2019
Articles Posted: 260
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