Report : North America Wind Turbine Condition Monitoring Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware, and Software and Services) and Application (Rotor, Tower, Gearbox, Generator, and Others)
Hardware Segment to Dominate North America Wind Turbine Condition Monitoring Market during 2019–2028
According to a new market research study on “North America Wind Turbine Condition Monitoring Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Component and Application,” is expected to reach US$ 121.93 million by 2028 from US$ 83.25 million in 2021. The market is estimated to grow at a CAGR of 5.6% from 2021 to 2028. Increasing deployment of offshore wind farms is the major factor driving the growth of the North America wind turbine condition monitoring market. However, high installation cost of wind turbines and high cost of condition monitoring systems may hinder the growth of North America wind turbine condition monitoring market. The report provides trends prevailing in the North America wind turbine condition monitoring market along with the drivers and restraints pertaining to the market growth.
The North America wind turbine condition monitoring market is segmented into component, application, and country. Based on component, the North America wind turbine condition monitoring market is segmented into hardware, and software and services. In 2020, the hardware segment held the largest share North America wind turbine condition monitoring market. Based on application, the North America wind turbine condition monitoring market is segmented into rotor, tower, gearbox, generator, and others. In 2020, the gearbox segment held the largest share North America wind turbine condition monitoring market. Similarly, based on country, the North America wind turbine condition monitoring market is segmented into the US, Canada, and Mexico. The US contributed a substantial share in 2020.
Advantech Co. Ltd.; Baker Hughes Company; ENERCON GmbH; ENVISION Group; General Electric Company; Goldwind; Nordex SE; Siemens Gamesa Renewable Energy, S.A; TÜV RHEINLAND; and Vestas Wind Systems A/S are among the leading companies in the North America wind turbine condition monitoring market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Goldwind, a wind turbine maker, has linked its 5-megawatt onshore test unit to the grid as it prepares to begin deliveries next year. Goldwind's permanent magnet direct-drive (PMDD) onshore GW 5S Smart Wind Turbine has a rotor diameter of 165 meters and hub heights ranging from 100 to 130 metres.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com