The nacelle-mounted LIDAR systems market for wind industry share is expected to increase by USD 15.95 million from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4.82%.
This nacelle-mounted LIDAR systems market research report for wind industry provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers nacelle-mounted LIDAR systems market segmentation for wind industry by application (offshore and onshore) and geography (Europe, APAC, North America, South America, and MEA). The nacelle-mounted LIDAR systems market report for wind industry also offers information on several market vendors, including Epsiline, ESCO Technologies Inc., John Wood Group Plc, Mitsubishi Electric Corp., Vaisala Oyj, Windar Photonics A/S, and Zephir Ltd. among others.
What will the Nacelle-Mounted LIDAR Systems Market Size for Wind Industry be During the Forecast Period?
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Nacelle-Mounted LIDAR Systems Market for Wind Industry: Key Drivers and Challenges
Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The increase in the hub height is notably driving the nacelle-mounted LIDAR systems market growth for wind industry, although factors such as high cost of implementation may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the nacelle-mounted LIDAR systems market for wind industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Nacelle-Mounted LIDAR Systems Market Driver for Wind Industry
Technological advances and developments in blade design are the main factors that lead to an increase in the wind turbine output and capacity. By just doubling the rotor size or diameter, the power output increases fourfold. Therefore, the need to increase renewable power generation and the rapid technological advances are increasing the adoption of wind towers and turbines, which will fuel the growth of the global nacelle-mounted LIDAR systems market for wind industry. The rise in the tower height is increasing the investments in wind power projects, thus making wind source assessments even more critical in determining the profitability of a wind farm. This critical assessment is generally performed using a large meteorological mast. However, owing to the cost and practical limitations such as time and complexity, the met mast tower heights are generally limited to less than 100 meters. When it is necessary to take wind measurements above 100 meters, vertical extrapolation is carried out based on the measured wind shear, resulting in the uncertainty of the annual yields. The need to overcome the uncertainty has driven the demand for remote-sensing devices, such as nacelle-mounted LIDAR systems, as they can be easily deployed, typically in half a day. Moreover, such systems are easy to operate.
This nacelle-mounted LIDAR systems market analysis report for wind industry also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Who are the Major Nacelle-Mounted LIDAR Systems Market Vendors for Wind Industry?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Epsiline
- ESCO Technologies Inc.
- John Wood Group Plc
- Mitsubishi Electric Corp.
- Vaisala Oyj
- Windar Photonics A/S
- Zephir Ltd.
This statistical study of the nacelle-mounted LIDAR systems market for wind industry encompasses successful business strategies deployed by the key vendors. The nacelle-mounted LIDAR systems market for wind industry is concentrated and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The nacelle-mounted LIDAR systems market forecast report for wind industry offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Which are the Key Regions for Nacelle-Mounted LIDAR Systems Market for Wind Industry?
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45% of the market’s growth will originate from Europe during the forecast period. The UK, Germany, and France are the key markets for nacelle-mounted LIDAR systems for wind industry in Europe. Market growth in this region will be faster than the growth of the market in MEA and South America.
This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
What are the Revenue-generating Application Segments in the Nacelle-Mounted LIDAR Systems Market for Wind Industry?
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The nacelle-mounted LIDAR systems market for wind industry share growth by the offshore segment will be significant during the forecast period. The growth of the offshore segment is mainly attributed to the huge amount of money invested in the installation of offshore met towers, which are generally used for measuring offshore wind speeds.
This report provides an accurate prediction of the contribution of all the segments to the growth of the nacelle-mounted LIDAR systems market for wind industry size and actionable market insights on post COVID-19 impact on each segment.
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Nacelle-Mounted LIDAR Systems Market Scope for Wind Industry |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.82% |
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Market growth 2021-2025 |
$ 15.95 million |
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Market structure |
Concentrated |
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YoY growth (%) |
4.04 |
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Regional analysis |
Europe, APAC, North America, South America, and MEA |
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Performing market contribution |
Europe at 45% |
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Key consumer countries |
China, UK, Germany, US, and France |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Epsiline, ESCO Technologies Inc., John Wood Group Plc, Mitsubishi Electric Corp., Vaisala Oyj, Windar Photonics A/S, and Zephir Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Nacelle-Mounted LIDAR Systems Market For Wind Industry Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive nacelle-mounted LIDAR systems market growth for wind industry during the next five years
- Precise estimation of the nacelle-mounted LIDAR systems market size for wind industry and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the nacelle-mounted LIDAR systems market for wind industry across Europe, APAC, North America, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of nacelle-mounted LIDAR systems market vendors for wind industry
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