The need to reduce greenhouse gas emissions and boost the amount of renewable energy in the whole energy mix prompted the development of offshore wind farms. Due to the need to reduce carbon emissions, the depletion of fossil fuels, climate change, and so on, there has been a considerable movement toward renewable and green energy in the energy sector. The renewable energy demand will continue to climb because of dropping technology costs, a growing need to reduce CO2 emissions, and rising energy consumption in developing and underdeveloped countries. The growing emphasis on renewable energy is driving the demand for wind turbine conditioning monitoring systems significantly across the region.
South America Wind Turbine Condition Monitoring Market Segmentation
The South 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 South 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 Brazil, Argentina, and the rest of South America. Brazil contributed a substantial share in 2020.
Advantech Co. Ltd.; Baker Hughes Company; ENERCON GmbH; 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 South America wind turbine condition monitoring market.