Global Horizontal axis wind turbine Market

Horizontal Axis Wind Turbine Market Size, Share, Growth Analysis, By Type(Large, Small), By Application(Onshore, Offshore), By Region - Industry Forecast 2025-2032


Report ID: SQMIG20E2070 | Region: Global | Published Date: October, 2024
Pages: 221 | Tables: 61 | Figures: 75

Horizontal Axis Wind Turbine Market Dynamics

Horizontal Axis Wind Turbine Market Driver

  • Industry expansion is fueled by both the incorporation of renewable energy sources and the increased use of clean energy. Additionally, the expansion of the industry as a whole is fueled by both private and public investment in utility-scale projects, as well as ongoing efforts to identify potential offshore wind project sites. Technology acceptance is fueled by rapid advancements in the development of sustainable energy systems, such as fixed and floating offshore wind projects. A small land footprint, low maintenance requirements, and low labor costs are some of the main factors influencing market share.
  • Globally, the strong R&D proposals aimed at enhancing the capacity utilization factor for energy generation suitably and effectively will improve market dynamics significantly. The market growth has also been fueled by an increased focus on water conservation, government incentives and permits for energy efficiency, rising energy demand, and a higher share of renewable energy in the production of electricity. In comparison to an onshore wind turbine, the cost of structural parts, electrical networks, and turbines are significantly higher.

Horizontal Axis Wind Turbine Market Restraint

  • Transporting and installing horizontal axis wind turbines present significant logistical and technical difficulties because of their enormous size. Horizontal axis wind turbines may not be able to fit onto the curvy, narrow roads in mountainous areas or even our regular roads where houses, utility poles, and street lamps line the sides because their blades can be up to 70 metres long and 20 tones heavy. The installation of the turbines presents a challenge after delivery. It requires an entire team of skilled workers and sometimes even months to install a turbine safely and correctly, from the ground foundation to electronics, component placement, and assembly. In 2018, Orient Energy System used time-lapse photography to capture the construction of their 50 MW wind farm. Because the gearbox, generator, wind measuring systems, brake, yaw system, and rotor are all situated at the very top of the tower, maintaining a horizontal axis wind turbine is particularly time-consuming. Maintenance specialists must perform tasks at a dizzying height of 80 to 100 meters at high wind speed.
  • Government restrictions on wind turbine development and installation may still exist, despite the fact that governments all over the world have established incentives to start the transition to renewable energy. For instance, the minimum distance from a horizontal axis wind turbine to a nearby home is typically four times the height of the turbine. The municipality must carry out a noise assessment prior to placing a wind turbine there to make sure that restrictions are followed. This involves assessing both the noise that already exists and the noise that the wind turbine will add. Although there is typically a general guideline, policies can still change depending on the various local political, social, and environmental.
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Horizontal Axis Wind Turbine Market size was valued at USD 45.24 Billion in 2023 and is poised to grow from USD 48.36 Billion in 2024 to USD 82.47 Billion by 2032, growing at a CAGR of 6.9% during the forecast period (2025-2032).

Global Horizontal axis wind turbine market is competitive. The market is dominated by only few players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Vestas Wind Systems A/S', 'Siemens Gamesa Renewable Energy', 'General Electric Company', 'Goldwind Science & Technology Co., Ltd.', 'Suzlon Energy Limited', 'Nordex SE', 'Enercon GmbH', 'Senvion S.A.', 'Ming Yang Smart Energy Group Co., Ltd.', 'Clipper Windpower, LLC', 'Dongfang Electric Corporation Limited', 'XEMC Windpower Co., Ltd.', 'Envision Energy Limited', 'Bergey Windpower Co.', 'Xzeres Wind Corp.', 'Northern Power Systems Corporation', 'ReGen Powertech Private Limited', 'KMW Energy Inc.', 'Aerodyn Energiesysteme GmbH', 'Wind Energy Solutions BV'

Industry expansion is fueled by both the incorporation of renewable energy sources and the increased use of clean energy. Additionally, the expansion of the industry as a whole is fueled by both private and public investment in utility-scale projects, as well as ongoing efforts to identify potential offshore wind project sites. Technology acceptance is fueled by rapid advancements in the development of sustainable energy systems, such as fixed and floating offshore wind projects. A small land footprint, low maintenance requirements, and low labor costs are some of the main factors influencing market share.

Offshore wind turbines are currently the subject of numerous technological advancements aimed at lowering the costs associated with offshore wind farm installation. To save money, one of these involves raising the voltage of the array to 66 kV. It is important to note that electrical array cable cost rises with wind turbine spacing and falls with size in this context. However, there is a trade-off between the cost of the array cable and the wake losses from the wind turbines when it comes to wind turbine spacing. Following offshore wind turbines are typically spaced 6 to 8 D apart, where D is the rotor diameter. But because of a number of factors, including technological advancements, the installation cost of offshore wind farms is continuously declining.

Europe is expected to control the horizontal axis wind turbine market share. Europe's horizontal axis wind turbine market is anticipated to expand during the forecast period as a result of the region's expanding wind turbine installation. Additionally, the European Union member states' growing environmental concerns and established goals for reducing their reliance on non-renewable energy sources are encouraging the installation of wind turbines in the region, which is positively affecting the development of the wind turbine market in Europe. A 50-turbine wind farm in southern Scotland, for instance, will be operational by 2023 and supply electricity to nearly 170,000 homes in the UK, according to a recent statement from the renewable energy company Vattenfall.

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Global Horizontal axis wind turbine Market

Report ID: SQMIG20E2070

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