Wind Turbine Pitch System Market by Application and Geography - Forecast and Analysis 2022-2026

The wind turbine pitch system market share is expected to increase by USD 377.03 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 3.28%.

This wind turbine pitch system market research report 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 wind turbine pitch system market segmentations by application (onshore and offshore) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The wind turbine pitch system market report also offers information on several market vendors, including ABB Ltd., ATECH Antriebstechnik GmbH, Bonfiglioli Riduttori SpA, Bosch Rexroth AG, CHINA FANGDA GROUP Co. Ltd., Dalian Huarui Heavy Industry Group Co. Ltd., DEIF AS, ENERCON GmbH, General Electric Co., Hydratech Industries, KEBA AG, Mita-Teknik, Moog Inc., Nidec ASI SpA, OAT GmbH, Parker Hannifin Corp., RENergy Electric Tianjin Ltd., Siemens AG, and Vestas Wind Systems AS among others.

What will the Wind Turbine Pitch System Market Size be During the Forecast Period?

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Wind Turbine Pitch System Market: Key Drivers, Trends, and Challenges

The awareness about the usage of renewable energy is notably driving the wind turbine pitch system market growth, although factors such as the high failure rate of wind turbine components may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the wind turbine pitch system industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Wind Turbine Pitch System Market Driver

The awareness about the usage of renewable energy is one of the key drivers supporting the wind turbine pitch system market growth. Wind turbines use wind as their primary source of energy and have no negative impact on the environment. Furthermore, most nations have signed international protocols under the United Nations Framework Convention on Climate Change (UNFCCC), which require them to establish sustainable energy mechanisms to aid in reducing greenhouse gas emissions. Thus, such beneficial attributes of renewable energy will drive wind turbine pitch system market growth during the forecast period.

Key Wind Turbine Pitch System Market Trend

The consistently declining cost of wind power is one of the key wind turbine pitch system market trends that is contributing to the market growth. Several countries are installing wind power plants in deep water areas. Such plants can harness more energy than onshore power plants. The offshore segment is growing rapidly in Europe due to the availability of resources, limited turbulence, and steady winds. Moreover, according to the GWEC, in 2019, the total global installed capacity of offshore wind power was 29.1 gigawatts. Thus, the offshore segment has grown due to declining prices because of zero bids for offshore in Germany and complete subsidy tenders in the Netherlands. Such declining prices will significantly contribute to the market growth during the forecast period.

Key Wind Turbine Pitch System Market Challenge

The high failure rate of wind turbine components is one of the factors hindering the wind turbine pitch system market growth. A wind turbine is built by integrating various technologies and components, ranging from aeronautics, hydraulics, automation, and others. For instance, the major components used in wind power generation comprise the gearbox, generator, and others that require regular maintenance to ensure safe and efficient operation. The turbine's generator, which converts rotational energy into electrical energy, accounts for about 4% of the total cost of a wind turbine. Any damage to the wind turbine generator will adversely impact the entire operation of the wind turbine. This, in turn, will increase the cost of failure and there thereby limiting the market growth.

This wind turbine pitch system market analysis report 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 2022-2026.

Parent Market Analysis

Technavio categorizes the global wind turbine pitch system market as a part of the global renewable electricity market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the wind turbine pitch system market during the forecast period.

Who are the Major Wind Turbine Pitch System Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• ABB Ltd.
• ATECH Antriebstechnik GmbH
• Bonfiglioli Riduttori SpA
• Bosch Rexroth AG
• CHINA FANGDA GROUP Co. Ltd.
• Dalian Huarui Heavy Industry Group Co. Ltd.
• DEIF AS
• ENERCON GmbH
• General Electric Co.
• Hydratech Industries
• KEBA AG
• Mita-Teknik
• Moog Inc.
• Nidec ASI SpA
• OAT GmbH
• Parker Hannifin Corp.
• RENergy Electric Tianjin Ltd.
• Siemens AG
• Vestas Wind Systems AS

 

This statistical study of the wind turbine pitch system market encompasses successful business strategies deployed by the key vendors. The wind turbine pitch system market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• Abb.com - The company offers pitch system to bring changes in the angle of the turbine blades, for maximizing power output from the wind turbine while protecting it from high-speed winds.
• Atech-antriebstechnik.de - The company offers customized pitch systems for wind turbines such as ACE-3 and ACE-2 NG.
• Deif.com - The company offers pitch system design to optimize wind turbine power production.

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 wind turbine pitch system market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Wind Turbine Pitch System Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the wind turbine pitch system market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Wind Turbine Pitch System Market?

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54% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for the wind turbine pitch system market in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Rising investments in offshore wind power plants will facilitate the wind turbine pitch system market growth in APAC over the forecast period. 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.

COVID Impact and Recovery Analysis

Developing economies, such as China, Japan, and South Korea, have been able to control the COVID-19 outbreak, which has been a positive factor for the market in these countries. Hence, APAC is expected to witness a low impact of the COVID-19 pandemic on the wind power sector. These factors are expected to drive the demand for wind turbine pitch systems, which will spur the growth of the market in the region during the forecast period.

What are the Revenue-generating Application Segments in the Wind Turbine Pitch System Market?

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The wind turbine pitch system market share growth by the onshore segment will be significant during the forecast period. Onshore wind power plants are becoming competitive due to the low cost of technology and financing. The growth of the onshore segment is driven by the declining cost of power generated by onshore wind power plants, as well as innovations that have enabled the commercialization of advanced technologies. Furthermore, government support for onshore wind farms also drives the growth of the segment. Such driving factors will boost the segment growth during the forecast period.

This report provides an accurate prediction of the contribution of all the segments to the growth of the wind turbine pitch system market size and actionable market insights on post COVID-19 impact on each segment.

 

Wind Turbine Pitch System Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 3.28%
Market growth 2022-2026	$ 377.03 million
Market structure	Fragmented
YoY growth (%)	2.5
Regional analysis	APAC, North America, Europe, South America, and Middle East and Africa
Performing market contribution	APAC at 54%
Key consumer countries	US, Canada, China, India, and Germany
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	ABB Ltd., ATECH Antriebstechnik GmbH, Bonfiglioli Riduttori SpA, Bosch Rexroth AG, CHINA FANGDA GROUP Co. Ltd., Dalian Huarui Heavy Industry Group Co. Ltd., DEIF AS, ENERCON GmbH, General Electric Co., Hydratech Industries, KEBA AG, Mita-Teknik, Moog Inc., Nidec ASI SpA, OAT GmbH, Parker Hannifin Corp., RENergy Electric Tianjin Ltd., Siemens AG, and Vestas Wind Systems AS
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
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.

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What are the Key Data Covered in this Wind Turbine Pitch System Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive wind turbine pitch system market growth during the next five years
• Precise estimation of the wind turbine pitch system market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the wind turbine pitch system industry across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of wind turbine pitch system market vendors

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