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Global Wind Turbine Pitch Systems Market growing at a CAGR of 5.4 % from 2023 to 2030

Category : Energy and Power | Published Date : May 2023

Key Market Overview

According to the recent report by Consegic Business Intelligence, the wind turbine pitch systems market is predicted to grow at a compound annual growth rate of 5.4% during the period 2023-2030 and is expected to reach USD 15,803.79 Million in 2030 which was valued at USD 1,421.12 Million in 2022.

The report highlights the rising prices of fossil fuels along with the increasing demand for electricity that results in the growth of wind turbine pitch systems market. Consegic Business Intelligence provided an inclusive research report on the wind turbine pitch systems market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends.

Global Wind Turbine Pitch Systems Market By Overview

Global Wind Turbine Pitch Systems Market

The report analyses significant segments such as product, application, and region, to identify emerging trends and potential opportunities. The product segment is expected to grow due to the ability of pitch systems to control the rotation of blades according to the requirements for efficient generation of electricity. By leveraging this information, market players have the opportunity to improve their competitive edge against other manufacturers by engaging in strategic collaborations, mergers, and acquisitions, and introducing innovative products to strengthen their market position

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Market Dynamics

Driver:

 

  • The growing investments in renewable sources of energy such as wind energy is driving the growth of the market.
  • The technological advancements in wind turbine pitch systems such as variable speed turbines with fixed RPM are accelerating the growth of the market.
  • The increasing demand for electricity as a result of rising prices of fossil fuels is accelerating the growth of the market.

 

Restraints:

  • The utilization of solar energy for the generation of electricity is restraining the growth of wind turbine pitch systems market.
  • The presence of alternate sources including solar energy for the generation of electricity is limiting the growth of the market.

Market Segmentation:

Report Attributes Report Details
By Product Hydraulic Pitch Systems and Electric Pitch Systems
By Application Hydraulic Pitch Systems and Electric Pitch Systems
By Region North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Landscape :

The competitive landscape of wind turbine pitch systems market has been analysed in the study conducted by Consegic Business Intelligence. The market is dominated by certain major companies such as Windurance, Vestas, Siemens Gamesa Renewable Energy, S.A., Pioneer Wincon, PARKER HANNIFIN CORP, OAT GmbH, Nidec Industrial Solutions have a strong market position in current market circumstances. Further, the wind turbine pitch systems market is expected to witness significant growth in coming years due to the presence of a large number of key players offering pitch controls systems with high speed and protection capabilities. Consequently, evolving research and developments in Wind Turbine Pitch Systems are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.

  • Windurance
  • Vestas
  • Siemens Gamesa Renewable Energy, S.A.
  • Pioneer Wincon
  • PARKER HANNIFIN CORP
  • OAT GmbH
  • Nidec Industrial Solutions
  • Mita-Teknik.
  • KEBA
  • Inoxwind
  • Hydratech Industries
  • General Electric