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)

Code: TIPRE00029286 | Pages: 119 | Industry: Electronics and Semiconductor | Date: May 2022
Covid

The wind turbine condition monitoring market in North America is expected to grow from US$ 83.25 million in 2021 to US$ 121.93 million by 2028; it is estimated to grow at a CAGR of 5.6% from 2021 to 2028.

 

Wind energy is highly adopted as a sustainable alternative to electricity generation. Government bodies established several windmills projects across their countries to produce electricity and reduce their carbon footprint. According to the United States Wind Turbine Database (USWTDB), the country had more than 67,000 turbines installed across 44 states as of January 2021. The rapidly increasing deployment of offshore wind farms has been fueled by the surge in demand for carbon-neutral energy production. Offshore wind farms (OFWs) are approximately 1.5–2 times more expensive to build than onshore wind farms. Even though offshore wind farms are costly and complex to create and operate, these have various advantages. For example, wind speeds at offshore farm areas are often quicker and more consistent than those closer to the coast, increasing energy generation. Furthermore, as coastal populations are generally higher than those found in other sections of the country, quick and ecologically friendly energy production is especially essential in these places. Like any other renewable energy source, offshore wind farms do not require the usage of water to function correctly, and they also do not release any pollutants or greenhouse gases when in operation. The Wind Energy Technologies Office (WETO) of the US Department of Energy funds research across the country to develop and implement offshore wind technologies that capture wind resources off the US coasts and convert them to power. This diverse portfolio of research, development, and demonstration projects will aid the industry in overcoming fundamental barriers to offshore wind development, such as the comparatively high cost of electricity, environmental mitigation, project installation, technical challenges, and grid connections. Thus, the increasing deployment of offshore wind farms is propelling the demand for wind turbine conditioning monitoring in wind energy plants, driving the market.

 

North America Wind Turbine Condition Monitoring Market Revenue and Forecast to 2028 (US$ Million)

North America Wind Turbine Condition Monitoring Market Revenue and Forecast to 2028 (US$ Million)

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North America Wind Turbine Condition Monitoring Market Segmentation      

The North America 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 North America 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 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

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        North America Wind Turbine Condition Monitoring Market – By Component

1.3.2        North America Wind Turbine Condition Monitoring Market – By Application

1.3.3        North America 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.           North America Wind Turbine Condition Monitoring Market Landscape

4.1         Market Overview

4.2         PEST Analysis

4.2.1        North America

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           North America 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 – North America Analysis

6.1         North America Wind Turbine Condition Monitoring Market Overview

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

7.           North America Wind Turbine Condition Monitoring Market Analysis – By Component

7.1         Overview

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

7.3         Hardware

7.3.1        Overview

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

8.           North America Wind Turbine Condition Monitoring Market Analysis – By Application

8.1         Overview

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

8.3         Rotor

8.3.1        Overview

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

8.4         Tower

8.4.1        Overview

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

8.5         Gearbox

8.5.1        Overview

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

8.6         Generator

8.6.1        Overview

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

8.7         Others

8.7.1        Overview

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

9.           North America Wind Turbine Condition Monitoring Market – Country Analysis

9.1         Overview

9.1.1        North America Wind Turbine Condition Monitoring Market Breakdown, by Country

9.1.1.1          US Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028

9.1.1.1.1          US Wind Turbine Condition Monitoring Market Breakdown, By Component

9.1.1.1.2          US Wind Turbine Condition Monitoring Market Breakdown, By Application

9.1.1.2          Canada Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028

9.1.1.2.1          Canada Wind Turbine Condition Monitoring Market Breakdown, By Component

9.1.1.2.2          Canada Wind Turbine Condition Monitoring Market Breakdown, By Application

9.1.1.3          Mexico Wind Turbine Condition Monitoring Market, Revenue and Forecast to 2028

9.1.1.3.1          Mexico Wind Turbine Condition Monitoring Market Breakdown, By Component

9.1.1.3.2          Mexico 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.             North America Wind Turbine Condition Monitoring Market – Revenue and Forecast to 2028 (US$ Million)

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

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

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

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

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

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

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

Table 9.             List of Abbreviation


LIST OF FIGURES

Figure 1.           North America Wind Turbine Condition Monitoring Market Segmentation

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

Figure 3.           North America Wind Turbine Condition Monitoring Market Overview

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

Figure 5.           Gearbox Segment held the Largest Share of North America Wind Turbine Condition Monitoring Market

Figure 6.           US to Show Great Traction During Forecast Period

Figure 7.           North America: PEST Analysis

Figure 8.           Expert Opinion

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Figure 24.        Mexico 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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