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Technavio’s market research analyst predicts the global wind automation market to grow at a CAGR of more than 7% during the forecast period. Rising environmental concerns are one of the key growth drivers for this market. Nearly half of global warming is caused by CO2 emissions from power generation using fossil fuels. As a result, various countries are placing emphasis on the use of renewable energy sources for power generation. Wind energy is the cheapest among all renewable sources of power generation with negligible CO2 emissions. Using wind as a source of energy for power generation provides an additional and more reliable power generation method for consumers to bank on. Also, depending solely on fossil fuels to generate the power required to meet high demand is not a solution, as the cost of fossil fuels is increasing with their depleting reserves. The relatively environmentally friendly characteristics of wind power will positively impact the growth of this market.
The increasing investments made towards technology research for renewable energy worldwide is expected to drive the demand for wind automation over the forecast period. Several countries have taken initiatives to increase the use of renewable sources for power generation by 2022 and 2025. Wind power accounted for 16%-18% of the overall technology research investment made for renewable energy in 2015. Technavio’s analysts estimate that investments in the technology research for wind power will grow at a CAGR of 40% during the forecast period. These investments will include research for new and advanced turbines, control systems, advanced substations and wind farms, and new power generation and transmission grid technology.
The SCADA segment in the global wind automation market was valued at more than $46 million during 2015 and is expected to grow at a CAGR of around 15% during the forecast period. SCADA is used in wind farms, substations, and plants. The rise in electricity generation using wind power has significantly increased the demand for advanced SCADA. Advances in technology have made the wind turbines active power plants, requiring grid support. The need for grid support has led to the demand for advanced SCADA. As a result, SCADA has assumed a critical role, since it guarantees reliable power from the wind farms. SCADA also helps to enforce inter-connect agreements because using this system the operator can control all the turbines as if it is one unit.
During 2015, APAC dominated the market, accounting for more than 48% of the market share. Nearly $54 billion was invested in the wind power market in APAC during 2015. China and India were the leading revenue contributors in the wind automation and the wind power markets in APAC. There was a high use of wind automation solutions in the wind power market across wind farms in these countries. This report predicts that China and India will continue to dominate the global wind automation market during the forecast period. For instance, the Government of India has taken initiatives to generate 175 GW power through renewable energy by 2022. Out of this, wind power will account for 60 GW, indicating the use of new and advanced automation solutions in the wind farms built in India during the forecast period.
The global wind automation market is highly competitive. In this market, the large international companies generate the majority of their revenue from direct sales and the local and regional players through indirect sales. Technavio’s analysts foresee a rise in the use of automation solutions in the wind power industry. This, in turn, will increase the number of small vendors that provide automation solution, entering the market. These new entrants are expected to roll out their products through resellers, VARs, or system integrators due to lack of market presence and brand visibility.
The key vendors in the market are -
Other prominent vendors in the market include Bachmann electronic, Bonfiglioli, GE, Honeywell, Mitsubishi, Omron, Regal Beloit, Rockwell Automation, Vestas Wind Systems, and Yokogawa Electric.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Wind farm value chain
PART 06: Wind automation industry life cycle
PART 07: Global wind automation market
PART 08: Market segmentation by products
PART 09: Market segmentation by geography
PART 10: Market drivers
PART 11: Impact of drivers
PART 12: Market challenges
PART 13: Impact of drivers and challenges
PART 14: Market trends
PART 15: Vendor landscape
PART 16: Appendix
PART 17: Explore Technavio
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