Press release
2024 Wind Turbine Automation Market: Meeting Increasing Demand, Unveiling Emerging Trends, and Outlook Towards 2033
Wind Turbine Automation Market
The wind turbine automation market size is expected to see grown strongly in the next few years. It will grow to $21.03 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to integration of automation with digitalization and IoT, advancements in artificial intelligence (AI) for wind turbines, adoption of automation in hybrid renewable energy systems, automation solutions for energy storage integration, automation solutions for offshore wind farms. Major trends in the forecast period include autonomous operations, predictive maintenance, edge computing and real-time monitoring, cybersecurity solutions, integration with grid management systems.
Market Overview -
Wind turbine automation refers to integrating technology to control and optimize the operation of wind turbines, improving efficiency and reducing downtime. This automation includes real-time monitoring, control of blade pitch, power output regulation, and system diagnostics to enhance performance and reliability.
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Increasing Adoption Of Wind Energy Fuels Growth In The Wind Turbine Automation Market
The increasing adoption of wind energy is expected to propel the growth of the wind turbine automation market going forward. Wind energy refers to the kinetic energy generated from the movement of air masses across the Earth's surface, primarily harnessed through wind turbines to produce electricity. The adoption of wind energy is increasing because of its sustainability and cost-effectiveness in renewable energy production. Wind turbine automation improves efficiency, reliability, and safety in turbine operations. It helps monitor, schedule maintenance, detect faults, and optimize turbine performance to increase energy production and reduce operational costs. For instance, according to the International Energy Agency, a France-based intergovernmental organization, the electricity generated by wind surged by 265 TWh in 2022, marking a 14% increase from 2021, the second-largest growth among all power generation technologies. Wind energy remains the foremost non-hydro renewable technology, having produced over 2100 TWh in 2022, surpassing the combined output of all other renewable sources. Therefore, the increasing adoption of wind energy is driving the growth of the wind turbine automation market.
Competitive Landscape -
Major companies operating in the wind turbine automation market are Siemens AG, General Electric, Mitsubishi Electric Corporation, Schneider Electric SE, Honeywell International Inc., ABB Ltd., Eaton Corporation, Parker Hannifin Corporation, Vestas Wind Systems A/S, Emerson Electric Co., Danfoss, Rockwell Automation Inc., Nordex SE, Omron Corporation, Fanuc Corporation, Enercon GmbH, Yaskawa Electric Corporation, Yokogawa Electric Corporation, Moog Inc., Suzlon Energy Limited, Axiomtek, Bachmann electronic GmbH, Inox Wind, Prima Automation
Development Of Strategic Partnerships To Enhance Wind Turbine Automation And Performance
Major companies operating in the wind turbine automation market are focusing on strategic partnerships to develop new products and strengthen their positions in the market. A strategic alliance is a collaborative relationship between two or more entities, often organizations or businesses, that join forces to achieve mutual objectives or strategic goals. For instance, in September 2023, ABB Ltd., a Switzerland-based automation company, announced a partnership with WindESCo Inc., a US-based software company. The strategic alliance involves ABB acquiring a minority stake in WindESCo. ABB aims to enhance its wind energy portfolio by integrating WindESCo's digital solutions, thus improving turbine performance and reliability. WindESCo benefits from ABB's expertise and market presence to expand its offering in electrical system optimization. The partnership aims to provide end-to-end solutions to wind customers, enhance wind turbine performance and reliability, and open new market channels for digital offerings.
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Key Segments -
The wind turbine automation market covered in this report is segmented -
1) By System: Supervisory Control And Data Acquisition (SCADA) Systems, Programmable Logic Controllers (PLC) Systems, Distributed Control Systems (DCS), Condition Monitoring Systems (CMS), Other Systems
2) By Component: Hardware, Software, Services
3) By Application: Offshore Wind Power Generation, Onshore Wind Power Generation, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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