Asia Pacific 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)

Code: TIPRE00029283 | Pages: 123 | Industry: Electronics and Semiconductor | Date: May 2022
Covid

The wind turbine condition monitoring market in Asia-Pacific is expected to grow from US$ 164.66 million in 2021 to US$ 270.65 million by 2028; it is estimated to grow at a CAGR of 7.4% from 2021 to 2028.

 

The rising population and the increasing disposable income in developing countries are driving energy consumption substantially. Various energy sources, such as fossil fuels, nuclear energy, and renewable energy, are utilized to meet energy needs. However, this energy balance is shifting internationally due to changing governmental measures and technological advancements. The increased amount of renewable energy sources in the energy mix has spurred industry expansion, resulting in high wind towers. However, in the face of the rising demand for increased power generation and improved development activities, most countries are focusing on providing inexpensive, dependable, and secure energy, which is projected to boost the overall expansion of the wind turbine condition monitoring market. China has more than 1,000 GW of technical potential for offshore wind due to its 18,000-kilometer-long coastline. China added the largest offshore wind capacity for any country in 2018, that is, 1.6 GW. State-owned energy businesses are in charge of the majority of projects. In 2019, European corporations EDF and Equinor entered the market in collaborations with CHN energy and SPIC Jiangsu Zhugensha H1 Offshore Wind Farma US$ 600 million projects, built on China's first foreign-backed wind farm, were completed in December 2019. EDF and China Energy Investment Corporation collaborated on the first project, the 300 MW Dongtai IV wind farm. Phase two, dubbed Dongtai V, will add 200 MW of power to the Dongtai in Jiangsu province. Further, by 2040, Japan plans to construct 4 GW of capacity, accounting for 7% of total power generation. According to the IEA, Japan has the technical ability to generate nine times as much electricity. The number of shallow regions available is the critical limiting factor. Japan's Akita Noshiro Offshore Wind Farm Project, "The Akita Offshore Wind Farm Corporation," is constructing a 54.6 MW wind farm in Akita Port. The manufacturer of the 13 turbines has been chosen as MHI Vestas. Another 20 MHI Vestas turbines will be used in a nearby project in Noshiro Port. Commercial operations will commence in 2022, with 130,000 houses being served. The quickly expanding wind energy installation capacity and falling wind turbine prices are expected to propel the wind turbine condition monitoring market forward in the forecast period. All-above-mentioned factors are expected to create lucrative opportunities for the wind turbine condition monitoring market.

 

Asia-Pacific Wind Turbine Condition Monitoring Market Revenue and Forecast to 2028 (US$ Million)

Asia-Pacific Wind Turbine Condition Monitoring Market Revenue and Forecast to 2028 (US$ Million)

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Asia-Pacific Wind Turbine Condition Monitoring Market Segmentation

The Asia-Pacific wind turbine condition monitoring market is segmented on the basis of component, application, and country. Based on component, the market is segmented into hardware, and software and services. In 2020, the hardware segment held a larger market share. Based on application, the Asia-Pacific wind turbine condition monitoring market is segmented into rotor, tower, gearbox, generator, and others. In 2020, the gearbox segment held the largest market share. Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and the rest of Asia-Pacific. China 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 Asia-Pacific wind turbine condition monitoring market.

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        APAC Wind Turbine Condition Monitoring Market – By Component

1.3.2        APAC Wind Turbine Condition Monitoring Market – By Application

1.3.3        APAC Wind Turbine Condition Monitoring Market- By Country

2.           Key Takeaways

3.        Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           APAC Wind Turbine Condition Monitoring Market Landscape

4.1         Market Overview

4.2         PEST Analysis

4.2.1        APAC

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           APAC Wind Turbine Condition Monitoring Market – Key Market Dynamics

5.1         Market Drivers

5.1.1        Rising Dependence on Renewable Energy Sources

5.1.2        Increasing Deployment of Offshore Wind Farms

5.2         Market Restraints

5.2.1        High Installation Cost of Wind Turbines and High Cost of Condition Monitoring Systems

5.3         Market Opportunities

5.3.1        Growing Demand for Wind Energy in Developing Countries

5.4         Future Trends

5.4.1        Technological Advancement in Wind Turbine Manufacturing and Monitoring

5.5         Impact Analysis of Drivers and Restraints

6.           Wind Turbine Condition Monitoring Market – APAC Analysis

6.1         APAC Wind Turbine Condition Monitoring Market Overview

6.2         APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

7.           APAC Wind Turbine Condition Monitoring Market Analysis – By Component

7.1         Overview

7.2         APAC Wind Turbine Condition Monitoring Market, By Component (2020 and 2028)

7.3         Hardware

7.3.1        Overview

7.3.2        Hardware: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

7.4         Software and Services

7.4.1        Overview

7.4.2        Software and Services: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

8.           APAC Wind Turbine Condition Monitoring Market Analysis – By Application

8.1         Overview

8.2         APAC Wind Turbine Condition Monitoring Market, By Application (2020 and 2028)

8.3         Rotor

8.3.1        Overview

8.3.2        Rotor: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

8.4         Tower

8.4.1        Overview

8.4.2        Tower: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

8.5         Gearbox

8.5.1        Overview

8.5.2        Gearbox: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

8.6         Generator

8.6.1        Overview

8.6.2        Generator: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

8.7         Others

8.7.1        Overview

8.7.2        Others: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

9.           APAC Wind Turbine Condition Monitoring Market – Country Analysis

9.1         Overview

9.1.1        APAC Wind Turbine Condition Monitoring Market Breakdown, by Country

9.1.1.1          China Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1          China Wind Turbine Condition Monitoring Market Breakdown, By Component

9.1.1.1.2          China Wind Turbine Condition Monitoring Market Breakdown, By Application

9.1.1.2          India Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1          India Wind Turbine Condition Monitoring Market Breakdown, By Component

9.1.1.2.2          India Wind Turbine Condition Monitoring Market Breakdown, By Application

9.1.1.3          Japan Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1          Japan Wind Turbine Condition Monitoring Market Breakdown, By Component

9.1.1.3.2          Japan Wind Turbine Condition Monitoring Market Breakdown, By Application

9.1.1.4          South Korea Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1          South Korea Wind Turbine Condition Monitoring Market Breakdown, By Component

9.1.1.4.2          South Korea Wind Turbine Condition Monitoring Market Breakdown, By Application

9.1.1.5          Australia Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)

9.1.1.5.1          Australia Wind Turbine Condition Monitoring Market Breakdown, By Component

9.1.1.5.2          Australia Wind Turbine Condition Monitoring Market Breakdown, By Application

9.1.1.6          Rest of APAC Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)

9.1.1.6.1          Rest of APAC Wind Turbine Condition Monitoring Market Breakdown, By Component

9.1.1.6.2          Rest of APAC Wind Turbine Condition Monitoring Market Breakdown, By Application

10.        Industry Landscape

10.1      Overview

10.2      Market Initiative

10.3      New Product Development

10.4      Merger and Acquisition

11.        Company Profiles

11.1      Advantech Co. Ltd.

11.1.1     Key Facts

11.1.2     Business Description

11.1.3     Products and Services

11.1.4     Financial Overview

11.1.5     SWOT Analysis

11.1.6     Key Developments

11.2      Baker Hughes Company

11.2.1     Key Facts

11.2.2     Business Description

11.2.3     Products and Services

11.2.4     Financial Overview

11.2.5     SWOT Analysis

11.2.6     Key Developments

11.3      ENVISION Group

11.3.1     Key Facts

11.3.2     Business Description

11.3.3     Products and Services

11.3.4     Financial Overview

11.3.5     SWOT Analysis

11.3.6     Key Developments

11.4      ENERCON GmbH

11.4.1     Key Facts

11.4.2     Business Description

11.4.3     Products and Services

11.4.4     Financial Overview

11.4.5     SWOT Analysis

11.4.6     Key Developments

11.5      Goldwind

11.5.1     Key Facts

11.5.2     Business Description

11.5.3     Products and Services

11.5.4     Financial Overview

11.5.5     SWOT Analysis

11.5.6     Key Developments

11.6      General Electric Company

11.6.1     Key Facts

11.6.2     Business Description

11.6.3     Products and Services

11.6.4     Financial Overview

11.6.5     SWOT Analysis

11.6.6     Key Developments

11.7      Nordex SE

11.7.1     Key Facts

11.7.2     Business Description

11.7.3     Products and Services

11.7.4     Financial Overview

11.7.5     SWOT Analysis

11.7.6     Key Developments

11.8      Siemens Gamesa Renewable Energy, S.A.

11.8.1     Key Facts

11.8.2     Business Description

11.8.3     Products and Services

11.8.4     Financial Overview

11.8.5     SWOT Analysis

11.8.6     Key Developments

11.9      TÜV RHEINLAND

11.9.1     Key Facts

11.9.2     Business Description

11.9.3     Products and Services

11.9.4     Financial Overview

11.9.5     SWOT Analysis

11.9.6     Key Developments

11.10   Vestas Wind Systems A/S

11.10.1  Key Facts

11.10.2  Business Description

11.10.3  Products and Services

11.10.4  Financial Overview

11.10.5  SWOT Analysis

11.10.6  Key Developments

12.        Appendix

12.1      About The Insight Partners

12.2      Word Index

 


LIST OF TABLES

Table 1.             APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

Table 2.             APAC Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Country (US$ Million)

Table 3.             China Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)

Table 4.             China Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)

Table 5.             India Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)

Table 6.             India Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)

Table 7.             Japan Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)

Table 8.             Japan Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)

Table 9.             South Korea Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)

Table 10.          South Korea Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)

Table 11.          Australia Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)

Table 12.          Australia Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)

Table 13.          Rest of APAC Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)

Table 14.          Rest of APAC Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)

Table 15.          List of Abbreviation

 


LIST OF FIGURES

Figure 1.           APAC Wind Turbine Condition Monitoring Market Segmentation

Figure 2.           APAC Wind Turbine Condition Monitoring Market Segmentation – By Country

Figure 3.           APAC Wind Turbine Condition Monitoring Market Overview

Figure 4.           Hardware Component Segment held the Largest Share of APAC Wind Turbine Condition Monitoring Market

Figure 5.           Gearbox Application Segment held the Largest Share of APAC Wind Turbine Condition Monitoring Market

Figure 6.           China to Show Great Traction During Forecast Period

Figure 7.           APAC: PEST Analysis

Figure 8.           Expert Opinion

Figure 9.           APAC Wind Turbine Condition Monitoring Market: Impact Analysis of Drivers and Restraints

Figure 10.        APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

Figure 11.        APAC Wind Turbine Condition Monitoring Market Revenue Share, by Component (2020 and 2028)

Figure 12.        Hardware: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13.        Software and Services: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

Figure 14.        APAC Wind Turbine Condition Monitoring Market Revenue Share, by Application (2020 and 2028)

Figure 15.        Rotor: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16.        Tower: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17.        Gearbox: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18.        Generator: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19.        Others: APAC Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20.        APAC: Wind Turbine Condition Monitoring Market, by key Country – Revenue (2020) (US$ Million)

Figure 21.        APAC Wind Turbine Condition Monitoring Market Breakdown, by Country, 2020 & 2028 (%)

Figure 22.        China Wind Turbine Condition Monitoring Market, Revenue and Forecast To 2028 (US$ Million)

Figure 23.        India Wind Turbine Condition Monitoring Market, Revenue and Forecast To 2028 (US$ Million)

Figure 24.        Japan Wind Turbine Condition Monitoring Market, Revenue and Forecast To 2028 (US$ Million)

Figure 25.        South Korea Wind Turbine Condition Monitoring Market, Revenue and Forecast To 2028 (US$ Million)

Figure 26.        Australia Wind Turbine Condition Monitoring Market, Revenue and Forecast To 2028 (US$ Million)

Figure 27.        Rest of APAC Wind Turbine Condition Monitoring Market, Revenue and Forecast To 2028 (US$ Million)

  1. Advantech Co. Ltd.
  2. Baker Hughes Company
  3. ENERCON GmbH
  4. ENVISION Group
  5. General Electric Company
  6. Goldwind
  7. Nordex SE
  8. Siemens Gamesa Renewable Energy, S.A
  9. TÜV RHEINLAND
  10. Vestas Wind Systems A/S
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