At 5.9% CAGR, the Europe Wind Anemometer Market is Projected to be Worth US$ 77.22 Million by 2030, Says Business Market Insights

According to Business Market Insights research, the Europe wind anemometer market was valued at US$ 48.71 million in 2022 and is expected to reach US$ 77.22 million by 2030, registering a CAGR of 5.9% from 2022 to 2030. Growing demand for renewable energy sources and growing awareness of climate change are among the critical factors attributed to the Europe wind anemometer market expansion.

Many countries have set determined climate goals, including increasing renewable energy capacity and reducing greenhouse gas emissions. According to the UN Environment Programme, ~66% of electricity generation and 80% of global energy are generated from fossil fuels, contributing approximately 60% of the greenhouse gas (GHG) emissions accountable for climate change. A shift to cleaner forms of energy has already begun in many countries. Wind power is a clean and renewable energy source. To spin a generator and create electricity, wind turbines use mechanical power to control energy from the wind. Not only is wind an inexhaustible and abundant resource, but it also gives electricity without polluting the air or burning any fuel. Wind continues to be a substantial source of renewable power in Europe, which helps reduce reliance on fossil fuels.

Governments of various countries are taking initiatives to reduce carbon emissions. Similarly, the European Parliament adopted the European Climate Law to deal with climate change, which raises the EU's goal of reducing net greenhouse gas emissions by at least 55% by 2030 (from the current 40%) and makes climate neutrality by 2050 legally binding. Also, the wind anemometers are essential for assessing wind energy potential at specific locations, and to align with these, the demand for these devices is increasing. Hence, the growing awareness of climate change is bolstering the wind anemometer market growth.

On the contrary, high initial investment and maintenance costs hampers the growth Europe wind anemometer market.

Based on measuring type, the Europe wind anemometer market is bifurcated into velocity anemometers and pressure anemometers. The velocity anemometers segment held 61.5% share of the Europe wind anemometer market in 2022, amassing US$ 29.94 million. It is projected to garner US$ 49.53 million by 2030 to expand at 6.5% CAGR during 2022-2030.

Based on anemometers type, the Europe wind anemometer market is segmented into mechanical, ultrasonic, and others. The mechanical segment held 68.4% share of the Europe wind anemometer market in 2022, amassing US$ 33.34 million. It is projected to garner US$ 51.41 million by 2030 to expand at 5.6% CAGR during 2022-2030.

In terms of applications, the Europe wind anemometer market is bifurcated into onshore and offshore. The onshore segment held 86.4% share of the Europe wind anemometer market in 2022, amassing US$ 42.08 million. It is projected to garner US$ 65.91 million by 2030 to expand at 5.8% CAGR during 2022-2030.

Based on country, the Europe wind anemometer market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany held 28.1% share of Europe wind anemometer market in 2022, amassing US$ 13.67 million. It is projected to garner US$ 23.70 million by 2030 to expand at 7.1% CAGR during 2022-2030.

Key players operating in the Europe wind anemometer market are LSI LASTEM Sri, Vaisala Oyj, R M Young Co, Gill Instruments Ltd, AdolfThies GmbH & co KG, Lambrecht meteo GmbH, METEK Meteorologische Messtechnik GmbH, Bristol Industrial & Research Associates Ltd, Campbell Scientific Inc, and OTT HydroMet Fellbach GmbH, among others.




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