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 anticipated growth in the forecast period can be attributed to the integration of automation with digitalization and IoT (Internet of Things), advancements in artificial intelligence (AI) for wind turbines, adoption of automation in hybrid renewable energy systems, automation solutions for energy storage integration, and automation solutions for offshore wind farms. Major trends expected in the forecast period include autonomous operations, predictive maintenance, edge computing and real-time monitoring, cybersecurity solutions, and integration with grid management systems.
The increasing uptake of wind energy is projected to drive the expansion of the wind turbine automation market in the future. Wind energy harnesses the kinetic energy generated by air movement across the Earth's surface, primarily through wind turbines, to produce electricity. The rising adoption of wind energy is attributed to its sustainability and cost-effectiveness in renewable energy generation. Automation of wind turbines enhances operational efficiency, reliability, and safety. It enables monitoring, maintenance scheduling, fault detection, and performance optimization to boost energy production and decrease operational expenses. For example, the International Energy Agency reported a significant surge of 265 TWh in wind-generated electricity in 2022, marking a 14% increase from 2021, the second-largest growth among all power generation technologies. Wind energy remains the leading non-hydro renewable technology, with a production exceeding 2100 TWh in 2022, surpassing the combined output of all other renewable sources. Therefore, the increasing adoption of wind energy is propelling the growth of the wind turbine automation market.
Key players in the wind turbine automation market are concentrating on forging strategic partnerships to develop innovative products and fortify their market positions. A strategic partnership involves collaborative efforts between multiple entities, typically organizations or businesses, to achieve shared objectives or strategic aims. For instance, in September 2023, ABB Ltd., a Switzerland-based automation company, announced a partnership with WindESCo Inc., a US-based software company. As part of this alliance, ABB acquired a minority stake in WindESCo, aiming to enhance its wind energy portfolio by integrating WindESCo's digital solutions. This collaboration seeks to improve turbine performance and reliability, while also expanding WindESCo's offering in electrical system optimization. Through this partnership, both companies aim to provide comprehensive solutions to wind customers, enhance turbine performance and reliability, and explore new market opportunities for digital offerings.
In December 2021, Emerson Electric Co., a US-based technology and software company, completed the acquisition of Mita-Teknik for an undisclosed sum. Emerson's acquisition of Mita-Teknik strengthens its presence in the renewable energy sector, expands its control system portfolio for wind power generation, and enhances its ability to offer comprehensive automation solutions to global power customers. Mita-Teknik, headquartered in Denmark, specializes in providing automation solutions for the wind power generation industry.
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.
Europe was the largest region in the wind turbine automation market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the wind turbine automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wind turbine automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Wind turbine automation involves the integration of technology to control and optimize the operation of wind turbines, aiming to enhance efficiency and reduce downtime. This automation encompasses real-time monitoring, blade pitch control, regulation of power output, and system diagnostics to improve performance and reliability.
The primary types of wind turbine automation include supervisory control and data acquisition (SCADA) systems, programmable logic controllers (PLC) systems, distributed control systems (DCS), condition monitoring systems (CMS), and others. SCADA systems are centralized software applications utilized for remote monitoring, control, and analysis of industrial processes or infrastructure. These systems consist of hardware, software, and services and find application in various sectors such as offshore wind power generation, onshore wind power generation, and others.
The wind turbine automation market research report is one of a series of new reports that provides wind turbine automation market statistics, including wind turbine automation industry global market size, regional shares, competitors with a wind turbine automation market share, detailed wind turbine automation market segments, market trends and opportunities, and any further data you may need to thrive in the wind turbine automation industry. This wind turbine automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The wind turbine automation market consists of revenues earned by entities by providing services such as predictive analytics and maintenance services, remote monitoring and diagnostics services, and retrofit and upgrade services. The market value includes the value of related goods sold by the service provider or included within the service offering. The wind turbine automation market also includes sales of SCADA (Supervisory Control and Data Acquisition) systems, condition monitoring systems, and control systems and software that are used in providing the services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
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Table of Contents
Executive Summary
Wind Turbine Automation Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on wind turbine automation market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Description
Where is the largest and fastest growing market for wind turbine automation ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The wind turbine automation market global report answers all these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:
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 Companies Mentioned: Siemens AG; General Electric; Mitsubishi Electric Corporation; Schneider Electric SE; Honeywell International Inc.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Companies Mentioned
- 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
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 175 |
Published | April 2024 |
Forecast Period | 2024 - 2028 |
Estimated Market Value ( USD | $ 15.56 Billion |
Forecasted Market Value ( USD | $ 21.03 Billion |
Compound Annual Growth Rate | 7.8% |
Regions Covered | Global |
No. of Companies Mentioned | 24 |