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Wind Turbine Monitoring Systems Market

Wind Turbine Monitoring Systems Market

Wind Turbine Monitoring Systems Market Global Industry Assessment & Forecast

# Pages:

155

Base Year:

2021

Nov - 2021

Format:

Report Code:

VMR-2021-0505

Segments Covered
  • By Product Type Vibration Monitoring, Automated Oil-particulate Systems, Acoustic Monitors
  • By End Users Land Wind Power, Offshore Wind Power
Snapshot
Forecast YearsForecast Years: 2022 - 2028
Historical YearsHistorical Years: 2016 - 2021
Revenue 2021Revenue 2021: 4.23 Billion
Revenue 2028Revenue 2028: 14.7 Billion
Revenue CAGRRevenue CAGR (2022 - 2028): 16.84
Fastest Growing Region Fastest Growing Region (2022 - 2028) Asia Pacific
Customization Offered
  • Cross-segment Market Size and Analysis for Mentioned Segments
  • Additional Company Profiles (Upto 5 With No Cost)
  • Additional Countries (Apart From Mentioned Countries)
  • Country/Region-specific Report
  • Go To Market Strategy
  • Region Specific Market Dynamics
  • Region Level Market Share
  • Import Export Analysis
  • Production Analysis
  • Others Request Customization Speak To Analyst

Key Insights

The global Wind Turbine Monitoring Systems market was valued at USD 4.23 Billion in 2020 and is projected to reach USD 14.7 Billion by 2028, growing at a CAGR of 16.84% from 2021 to 2028.

Years Parameters
Historical Data (Actual Data) 2016-2020
Base Year Data 2020
Current Year Date 2021
Projected year data 2021-2026
Annual Market Size (2028) 14.7 Billion
Annual Market Size (2021)
CAGR (2021 - 2028) 16.84%

Definition and Overview

Wind Turbine Monitoring Systems is intended for continuous vibration monitoring of wind turbines. By detecting faults at an early stage, production uptime can be increased thanks to scheduled and targeted maintenance.


The global Wind Turbine Monitoring Systems market is segmented based on by Product Type, End Users, regions, and countries. The regional segmentation provides current and forecast demand across North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. All the segments have been analyzed on the basis of present and future trends. Rising demand for Wind Turbine Monitoring Systems  in various countries such as the U.S., Germany, China, India, and Japan, among others is likely to support the growth of the market. Numerous companies are focusing on investing heavily in this application to cater the end user requirements effectively. The report provides comprehensive analysis of the market based on drivers, restraints, opportunities, trends, competition, and industry-authenticated data. The market is estimated from 2016 to 2020 with forecast from 2021 to 2028. 

Yearly Infographics 4.23 Billion 14.7 Billion

Global Wind Turbine Monitoring Systems Market: COVID-19 Impact Analysis

The COVID-19 pandemic is affecting industries worldwide and the global economy took hit in 2020 and likely in 2021 as well. The outbreak created disruptions in industries such as semiconductor, consumer electronics, travel, and automotive, among others. Impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.


The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

Market Insights

The increase in the failure of wind turbine components is one of the key factors driving the growth of the global wind turbine monitoring system.

Rise in investments across the globe is anticipated to augment the growth of the market over the forecast period.

The low awarenesss and penetration rate is expected to hamper the growth of the market over the forecast period.

Global Wind Turbine Monitoring Systems Market Report Scope

Parameter Details
Market Size Provided for Years 2016-2028
Base Year 2020
Historic Years 2016-2020
Forecast Years 2021-2028
Market Size Provided In Terms Of Revenue & Volume
Segments Covered Product Type, End Users
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Countries Covered The U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, South East Asia, Brazil, Argentina, GCC Countries, and South Africa, among others
Companies Covered Hansford Sensors, American Superconductor, HBM, Siemens, NRG Systems, Ammonit Measurement, Electrotek Concepts, InnoEnergy, Advantech, Romax Technology, Bruel & Kjær Vibro, National Instruments, SKF, Greenbyte, Alleantia, Strainstall.
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and Asia Pacific, company market share analysis, and COVID-19 impact analysis

Market Segmentation

Product Type  Analysis: Preview

On the basis of Product Type, the market is segmented into Vibration Monitoring, Automated Oil-particulate Systems, Acoustic Monitors. Acoustic Monitors  held the leading share in 2020 and is anticipated to grow at a noteworthy CAGR over the forecast timespan. This is due to the increasing adoption of Acoustic Monitors in emerging economies in Asia Pacific region.

End Users Analysis: Preview

Based on End Users, the market is segmented into Land Wind Power, Offshore Wind Power. Offshore Wind Power accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Global Wind Turbine Monitoring Systems Market: Product Type Segment Analysis

    • Vibration Monitoring
    • Automated Oil-particulate Systems
    • Acoustic Monitors

Global Wind Turbine Monitoring Systems Market: End Users Segment Analysis

    • Land Wind Power
    • Offshore Wind Power

Regional Analysis Preview

On the basis of region, the global Wind Turbine Monitoring Systems market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region held the largest share of the global Wind Turbine Monitoring Systems market in 2020. Some of the major countries contributing to the surge in the market are the U.S., U.K., Germany, France, China, India, Japan, and South Korea. China is one of the most profitable countries for companies operating in the market. 

Market Size, 2021 (USD Billion)
North America
Europe
Asia Pacific
South America
Middle East Africa

Global Wind Turbine Monitoring Systems Market: Regional Analysis

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • UK
    • France
    • Germany
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Rest of Latin America
  • Middle East and Africa
    • GCC Countries
    • South Africa
    • Rest of MEA

Competitive Landscape

The market comprises of various small, medium, and large sized players spread across all the regions. Some of the key companies operating in the global Wind Turbine Monitoring Systems market are Hansford Sensors, American Superconductor, HBM, Siemens, NRG Systems, Ammonit Measurement, Electrotek Concepts, InnoEnergy, Advantech, Romax Technology, Bruel & Kjær Vibro, National Instruments, SKF, Greenbyte, Alleantia, Strainstall.. The report provides company market share analysis which gives a comprehensive overview of the key competitors in the market. In addition, the report also covers major strategies adopted by market players such as new product launch, acquisitions & mergers, partnerships, collaborations & joint ventures, research & development, and regional expansion. The study also covers the product portfolio of major companies operating in the market.

FAQ
Frequently Asked Question
  • The global Wind Turbine Monitoring Systems valued at 4.23 Billion in 2020 and is expected to reach 14.7 Billion in 2028 growing at a CAGR of 16.84%.

  • The prominent players in the market are Hansford Sensors, American Superconductor, HBM, Siemens, NRG Systems, Ammonit Measurement, Electrotek Concepts, InnoEnergy, Advantech, Romax Technology, Bruel & Kjær Vibro, National Instruments, SKF, Greenbyte, Alleantia, Strainstall..

  • The market is project to grow at a CAGR of 16.84% between 2021 and 2028.

  • The driving factors of the Wind Turbine Monitoring Systems include

    • The increase in the failure of wind turbine components is one of the key factors driving the growth of the global wind turbine monitoring system.
    • Rise in investments across the globe is anticipated to augment the growth of the market over the forecast period.

  • Asia Pacific was the leading regional segment of the Wind Turbine Monitoring Systems in 2020.