At 4.1% CAGR, Middle East & Africa Wind Anemometer Market Is Projected to be Worth US$ 15.04 Million by 2030, Says Business Market Insights

According to Business Market Insights' research, the Middle East & Africa wind anemometer market was valued at US$ 10.89 million in 2022 and is expected to reach US$ 15.04 million by 2030, registering a CAGR of 4.1% from 2022 to 2030. Development of offshore wind farms and growing demand for renewable energy sources are among the critical factors attributed to the Middle East & Africa wind anemometer market expansion.

Offshore wind power is one of the fast-growing solutions to the world's need for clean and renewable energy. Wind farm technology is advancing rapidly, with increasing attention paid to offshore wind farms placed in deep waters and away from the shore than traditional wind farms. In addition, offshore wind farms have a significantly smaller environmental footprint than fossil fuel plants and deliver no greenhouse gas emissions. They also offer an environment for marine life, with the platforms operating as artificial reefs that attract fish and other aquatic species. Before constructing offshore wind farms, developers must assess the potential locations' wind conditions. Wind anemometers are essential for accurately measuring wind speed, direction, and other environmental factors at sea, helping identify suitable and optimal locations for offshore wind turbines. This drives the demand for specialized offshore anemometer systems. Also, detailed wind resource assessments are essential to determine the energy production potential of an offshore wind farm. Wind anemometers provide the data needed to estimate the energy output, helping developers make informed investment decisions and secure financing for these large-scale projects.

Moreover, the development of offshore wind farms has driven technological and innovation advancement in the renewable energy industry, indicating improved performance and reduced costs. Once installed, offshore wind farms have lower operating costs than traditional fossil fuel plants. The governments of several countries and various companies are developing new offshore farms. Hence, with the increase in the development of offshore wind farms, the demand for wind anemometers is anticipated to grow, bolstering the wind anemometer market growth.

On the contrary, high initial investment and maintenance costs hampers the growth of Middle East & Africa wind anemometer market.

Based on measuring type, the Middle East & Africa wind anemometer market is bifurcated into velocity anemometers and pressure anemometers. The velocity anemometers segment held 63.6% share of the Middle East & Africa wind anemometer market in 2022, amassing US$ 6.92 million. It is projected to garner US$ 9.94 million by 2030 to expand at 4.6% CAGR during 2022-2030.

Based on anemometers type, the Middle East & Africa wind anemometer market is segmented into mechanical, ultrasonic, and others. The mechanical segment held 72.6% share of the Middle East & Africa wind anemometer market in 2022, amassing US$ 7.91 million. It is projected to garner US$ 10.67 million by 2030 to expand at 3.8% CAGR during 2022-2030.

In terms of applications, the Middle East & Africa wind anemometer market is bifurcated into onshore and offshore. The onshore segment held 90.5% share of the Middle East & Africa wind anemometer market in 2022, amassing US$ 9.86 million. It is projected to garner US$ 13.51 million by 2030 to expand at 4.0% CAGR during 2022-2030.

Based on country, the Middle East & Africa wind anemometer market is categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Saudi Arabia held 39.6% share of Middle East & Africa wind anemometer market in 2022, amassing US$ 4.31 million. It is projected to garner US$ 6.36 million by 2030 to expand at 5.0% CAGR during 2022-2030.

Key players operating in the Middle East & Africa wind anemometer market are Vaisala Oyj, Gill Instruments Ltd, Lambrecht meteo GmbH, Bristol Industrial & Research Associates Ltd, and Campbell Scientific Inc, among others.

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