Europe 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)
The wind turbine condition monitoring market in Europe is expected to grow from US$ 108.43 million in 2021 to US$ 170.52 million by 2028; it is estimated to grow at a CAGR of 6.7% from 2021 to 2028.
Longer blades and taller towers, two of the most critical aspects in increasing wind turbine productivity, are driving much of the next-generation research and development effort to create a more powerful, efficient, durable, and cost-effective turbine. Other significant advancements include the creation of intelligent turbines that gather and understand real-time data and the modeling and adjustment of wind plant flows and turbine layouts to optimize wind harvest. The Wind Energy Technologies Office (WETO) collaborates with the industry to improve the performance and dependability of next-generation wind technologies while lowering wind energy costs. The traditional blade design method necessitates the development of a plug, or a full-scale model of the finished blade, which is then utilized to create the mold. The plug is one of the most time-consuming and labor-intensive operations in manufacturing wind turbine blades. Thus, 3D printing saves these valuable resources. Wind industry technology must continue to progress to secure future industry growth, building on previous triumphs to improve dependability, boost capacity factors, and lower costs. Modern wind turbines are becoming more cost-effective and stable, and their power ratings have increased to multi-megawatt levels. Furthermore, larger turbines may generate more power at lower wind speeds, allowing some previously unprofitable projects to become viable. All the factors mentioned above are expected to propel the growth of the wind turbine condition monitoring market over the forecast period.
Europe Wind Turbine Condition Monitoring Market Revenue and Forecast to 2028 (US$ Million)
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Europe Wind Turbine Condition Monitoring Market Segmentation
The Europe 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 Europe 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 France, Germany, Italy, the UK, Russia, and the rest of Europe. Germany 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 Europe 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 Europe Wind Turbine Condition Monitoring Market – By Component
1.3.2 Europe Wind Turbine Condition Monitoring Market – By Application
1.3.3 Europe 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. Europe Wind Turbine Condition Monitoring Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Wind Turbine Condition Monitoring Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Dependence on Renewable Energy Sources
5.1.2 Rising 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 – Europe Analysis
6.1 Europe Wind Turbine Condition Monitoring Market Overview
6.2 Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
7. Europe Wind Turbine Condition Monitoring Market Analysis – By Component
7.1 Overview
7.2 Europe Wind Turbine Condition Monitoring Market, By Component (2020 and 2028)
7.3 Hardware
7.3.1 Overview
7.3.2 Hardware: Europe 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: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8. Europe Wind Turbine Condition Monitoring Market Analysis – By Application
8.1 Overview
8.2 Europe Wind Turbine Condition Monitoring Market, By Application (2020 and 2028)
8.3 Rotor
8.3.1 Overview
8.3.2 Rotor: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Tower
8.4.1 Overview
8.4.2 Tower: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8.5 Gearbox
8.5.1 Overview
8.5.2 Gearbox: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8.6 Generator
8.6.1 Overview
8.6.2 Generator: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
8.7 Others
8.7.1 Overview
8.7.2 Others: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
9. Europe Wind Turbine Condition Monitoring Market – Country Analysis
9.1 Overview
9.1.1 Europe Wind Turbine Condition Monitoring Market Breakdown, by Country
9.1.1.1 Germany Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028
9.1.1.1.1 Germany Wind Turbine Condition Monitoring Market Breakdown, By Component
9.1.1.1.2 Germany Wind Turbine Condition Monitoring Market Breakdown, By Application
9.1.1.2 France Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028
9.1.1.2.1 France Wind Turbine Condition Monitoring Market Breakdown, By Component
9.1.1.2.2 France Wind Turbine Condition Monitoring Market Breakdown, By Application
9.1.1.3 Italy Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028
9.1.1.3.1 Italy Wind Turbine Condition Monitoring Market Breakdown, By Component
9.1.1.3.2 Italy Wind Turbine Condition Monitoring Market Breakdown, By Application
9.1.1.4 UK Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028
9.1.1.4.1 UK Wind Turbine Condition Monitoring Market Breakdown, By Component
9.1.1.4.2 UK Wind Turbine Condition Monitoring Market Breakdown, By Application
9.1.1.5 Russia Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028
9.1.1.5.1 Russia Wind Turbine Condition Monitoring Market Breakdown, By Component
9.1.1.5.2 Russia Wind Turbine Condition Monitoring Market Breakdown, By Application
9.1.1.6 Rest of Europe Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028
9.1.1.6.1 Rest of Europe Wind Turbine Condition Monitoring Market Breakdown, By Component
9.1.1.6.2 Rest of Europe 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.com
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. Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe Wind Turbine Condition Monitoring Market, Revenue and Forecast To 2028 – By Country (US$ Million)
Table 3. Germany Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)
Table 4. Germany Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)
Table 5. France Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)
Table 6. France Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)
Table 7. Italy Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)
Table 8. Italy Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)
Table 9. UK Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)
Table 10. UK Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)
Table 11. Russia Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)
Table 12. Russia Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)
Table 13. Rest of Europe Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Component (US$ Million)
Table 14. Rest of Europe Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 – By Application (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Wind Turbine Condition Monitoring Market Segmentation
Figure 2. Europe Wind Turbine Condition Monitoring Market Segmentation – By Country
Figure 3. Europe Wind Turbine Condition Monitoring Market Overview
Figure 4. Hardware Component Segment held the Largest Share of Europe Wind Turbine Condition Monitoring Market
Figure 5. Gearbox Application Segment held the Largest Share of Europe Wind Turbine Condition Monitoring Market
Figure 6. Germany to Show Great Traction During Forecast Period
Figure 7. Europe: PEST Analysis
Figure 8. Expert Opinion
Figure 9. Europe Wind Turbine Condition Monitoring Market: Impact Analysis of Drivers and Restraints
Figure 10. Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. Europe Wind Turbine Condition Monitoring Market Revenue Share, by Component (2020 and 2028)
Figure 12. Hardware: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Software And Services: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe Wind Turbine Condition Monitoring Market Revenue Share, by Application (2020 and 2028)
Figure 15. Rotor: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Tower: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. Gearbox: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 18. Generator: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Others: Europe Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Europe: Wind Turbine Condition Monitoring Market, by key Country – Revenue (2020) (US$ Million)
Figure 21. Europe Wind Turbine Condition Monitoring Market Breakdown, by Country, 2020 & 2028(%)
Figure 22. Germany Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
Figure 23. France Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
Figure 24. Italy Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
Figure 25. UK Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
Figure 26. Russia Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
Figure 27. Rest of Europe Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028 (US$ Million)
- Advantech Co. Ltd.
- Baker Hughes Company
- ENERCON GmbH
- ENVISION Group
- General Electric Company
- Goldwind
- Nordex SE
- Siemens Gamesa Renewable Energy, S.A
- TÜV RHEINLAND
- Vestas Wind Systems A/S
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the Europe Wind Turbine Condition Monitoring Market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the Europe Wind Turbine Condition Monitoring Market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the Wind Turbine Condition Monitoring Market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution