Wind Turbine Condition Monitoring System Industry Analysis 2021, Market Growth, Trends, Opportunities Forecast To 2027

NEW JERSEY, UNITED STATES, November 17, 2021 /EINPresswire.com/ -- Description

The "Global Wind Turbine Condition Monitoring System market Size, Status, and Forecast 2027" study from CMI provides an overview of the global Wind Turbine Condition Monitoring System market. This section illuminates the primary impact-rendering factors and restrictions limiting expansion. It enables people to comprehend various flaws and how they may obstruct future growth. This section is one of the most important in the report since it explains how many macro and microeconomic factors affect growth. The research also discusses the role of several sectors in the expansion, including small-scale and large-scale operations. Furthermore, industry specialists have presented current trends and prospects that are expected to boost growth in the next years.

There is a paradigm shift towards renewable sources of energy worldwide. Several countries worldwide are adding renewable energy capacity to their total energy mix. The wind is a clean, free, and readily available renewable energy source. Wind turbine condition monitoring system is commonly employed for the early detection of faults or failures in order to minimize downtime and maximize productivity. The system provides an accurate torsional vibration of the shaft, shaft power measurement, shaft bending, shaft RPM, shaft torque, and shaft signature or profile. Thus, the demand for wind turbine condition monitoring system has increased due to increasing installation of wind turbines, in developed and developing countries.

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Major Key players in this Market:

General Electric, TÜV Rheinland, WTWH Media, LLC, Datum Electronics, Moventas, Romax Technology Limited, SKF, Brüel & Kjær Vibro GmbH, ifm electronic ltd., Advantech Co., Ltd., Siemens, and HBM - Wind Turbine Testing and condition monitoring among others.

According to the Institute for Energy Economics and Financial Analysis (IEEFA), wind power installations in India rose to 2.07 GW in the financial year 2019-20, a 31% increase compared to 1.58 GW in 2018-19. This in turn is expected to augment the growth of the wind turbine condition monitoring system market. The condition monitoring system can also be installed on a high-speed output shaft, after gearbox installation to measure generated power and gain vital information about generator condition. Moreover, with continuous development of intelligent technology, demand for intelligent wind turbine condition monitoring system has increased.

For example, NGC launched Gear-Sight 3000 online status monitoring system to make gearbox operation and maintenance easier. It is a gearbox online monitoring and health management system manufactured for the wind energy industry, with a high degree of precision. The wind turbine condition monitoring system helps reduce turbine maintenance costs, improve the site performance, provide accurate data, and resolve faults before any failure. Growth of the wind turbine condition monitoring system market can also be attributed to the increasing investment in renewable energy and increasing automation in wind turbine manufacturing. Germany has the highest installed wind capacity in Europe.

According to the German Wind Energy Association (BWE), at the end of 2020, there were a total of 29,608 onshore wind turbines in Germany. Around 420 new onshore wind turbines with a capacity of 1,431 MW were newly installed in 2020. Thus, with increasing installation, the demand for wind turbine condition monitoring system is also increasing. This in turn is also expected to accelerate the growth of the wind turbine condition monitoring system market. However, factors such as unpredictable turbine maintenance periods, the high cost of condition monitoring systems, and high investment for the production/installation of wind turbines are expected to hamper the wind turbine condition monitoring system market growth.

Covered FAQ’s:

What factors will limit the growth of the Wind Turbine Condition Monitoring System market?
In the Wind Turbine Condition Monitoring System industry, which end-use segment will grow at the fastest CAGR?
In the Wind Turbine Condition Monitoring System market, who are the up-and-coming players?
Is the Wind Turbine Condition Monitoring System market very concentrated?
Which factors are promoting the growth of the Wind Turbine Condition Monitoring System market?
What are the most recent Wind Turbine Condition Monitoring System product innovations?
In the Wind Turbine Condition Monitoring System market, which product segment will be the most profitable?
What reasons are causing the Wind Turbine Condition Monitoring System market to become more competitive?
What strategic actions have the players in the Wind Turbine Condition Monitoring System industry taken?
Which part of the country will see inactive growth?

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Table of Content

1 Research Objectives and Assumptions
2 Market Purview
3 Market Dynamics, Regulations, and Trends Analysis
4 Impact of COVID-19 Pandemic on Wind Turbine Condition Monitoring System Market
5 Detailed Segmentation By Device Type, 2017-2027 (US$ Million)
6 Detailed Segmentation By Technology Type, 2017-2027 (US$ Million)
7 Detailed Segmentation By Deployment Type, 2017-2027 (US$ Million)
8 Detailed Segmentation By Vertical, 2017-2027 (US$ Million)
9 Global Wind Turbine Condition Monitoring System Market, By Region, 2017-2027 (US$ Million)
10 Competitive Landscape
11 Section

Raj Shah
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