- Summary
- Table Of Content
- Methodology
Wind Turbine Pitch Systems Market Introduction :
Wind Turbine Pitch Systems Market is estimated to reach over USD 2,115.46 Million by 2030 from a value of USD 1,421.12 Million in 2022, growing at a CAGR of 5.4% from 2023 to 2030.
Wind Turbine Pitch Systems Market Definition & Overview:
Wind Turbine Pitch Systems is a crucial component of a wind turbine that is used in rotating the rotor blades depending on the wind speed and direction. The pitch system of a wind turbine adjusts the angle of the wind turbine's blades in accordance with the direction of the wind, thereby controlling the rotor speed. Moreover, the rotating angle of the wind turbine increases in accordance with the increasing wind speed, thereby adjusting the rotor blades in such a way that the wind turbine is able to function consistently and efficiently.
Wind Turbine Pitch Systems Market Insights :
Wind Turbine Pitch Systems Market Dynamics - (DRO) :
Key Drivers :
Increasing demand for electricity and rising prices of fossil-fuels
The rising cost of fossil-fuels including natural gas and petroleum fuels is driving the growth of wind turbine pitch systems market. Extreme temperatures increase the demand for heating and cooling, resulting in increasing demand for electricity due to extreme weather conditions. The limited availability of crude oil and natural gas supply has facilitated manufacturers to generate electricity using wind energy. As a result, wind energy is utilized to produce electricity by converting the kinetic energy of air in motion into electricity. For instance, in August 2020, General Electric announced the construction of the largest wind turbine rotor test rig in Netherlands Technology Center. Consequently, the utilization of wind energy to generate electricity due to rising prices of fossil-fuels is accelerating the growth of wind turbine pitch systems market.
Increasing investments in renewable sources of energy
The growing investments in renewable energy resources and favorable government policies are the major drivers for the growth of the wind turbine pitch systems market. The government is increasingly focusing on generation of energy that produces no greenhouse gas emissions from fossil fuels. As a result, government and organizations are exploring new ways for alternative power generation possibilities such as using wind energy in order to meet the growing demand for electricity around the world. For instance, in October 2022, Suzlon Group received an order for the construction of 144.9 MW wind power projects that includes the installation of 69 units of wind turbine generators in Gujarat and Madhya Pradesh. Thus, the growing initiatives for utilization of renewable sources of energy to generate electricity is driving the growth of wind turbine pitch systems market.
Key Restraints :
The emergence of solar power panels for generation of electricity
The emergence of solar power panels for power generation is limiting the growth of the wind turbine pitch systems market. Solar energy is used to produce electricity in areas that lack energy grid as it requires low maintenance cost. However, the cost of installing wind turbines is quite high, thereby restraining the growth of the market. Furthermore, mechanical issues in wind turbines result in the failure of the system for generating electricity, thereby leading to energy losses. Therefore, the installation and maintenance expenses associated with the pitch systems are limiting the growth of the wind turbine pitch systems market.
High installation and maintenance costs of wind turbines
The high installation and maintenance costs of wind turbines are restraining the growth of wind turbine pitch systems market. The operation and maintenance cost of wind turbines accounts for about 30% of the total wind turbine cost, thereby hindering the growth of the market. Moreover, proper maintenance of wind turbines to check for power breakdown further adds to the overall costs of wind turbines. Thus, the high installation and maintenance cost of wind turbines is limiting the growth of the market.
Future Opportunities :
Integration of sensors and data analytics in wind turbine pitch systems
The incorporation of sensors and data analytics into the wind turbine systems is expected to present potential opportunities for the growth of the wind turbine pitch systems market. The utilization of data analytics is expected to monitor the performance of wind turbines in real-time and predict maintenance needs before they become critical. As a result, the integration of sensors and data analytics is expected to increase the lifespan of the wind turbines, thereby improving the efficiency of electricity generation process during the forecast period.
Wind Turbine Pitch Systems Market Report Insights :
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 | USD 2,115.46 Million |
| CAGR (2023-2030) | 5.4% |
| By Product | Hydraulic Pitch Systems and Electric Pitch Systems |
| By Application | On-Shore and Off-Shore |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
| Key Players | 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 |
Wind Turbine Pitch Systems Market Segmental Analysis :
Based on the Product :
Based on the product, the market is bifurcated into hydraulic pitch systems and electric pitch systems. The hydraulic pitch systems segment accounted for the largest revenue share in the year 2022. In hydraulic pitch systems segment, pitch cylinder segment accounted for 33.87% market share in the year 2022. The growth of this segment is attributed to the easy installation, high stability, and the ability of hydraulic pitch systems to function in cold climate conditions. The hydraulic pitch system is an essential component of the wind turbine capable of adjusting the angle of the blades in accordance with the direction of wind in order to optimize the wind turbine's energy production. The hydraulic segment includes a pitch cylinder, pitch accumulator, hydraulic pitch power pack, and control panels that helps to minimize the risk of structural failure and accidents.
The electric pitch systems segment is expected to emerge as the fastest-growing segment during the forecast period. Electric pitch controls consume less power as it requires a pump running at all times. The pump draws energy to keep the system's oil at high pressure, thereby allowing it to operate under extreme conditions. For instance, in September 2022, Richardson Electronics, Ltd. introduced a new shunt resistor for ULTRA3000 pitch energy module designed to monitor current feedback to the turbine controller during pitch events. Thus, the enhanced safety and energy-efficiency of electric pitch systems is accelerating the growth of wind turbine pitch systems market.
Based on the Blade Application :
Based on the application, the market is divided into on-shore and off-shore applications. The onshore segment accounted for the largest revenue share in the year 2022 due to its cost-effectiveness, quick installation, and lower impact on the surroundings. The infrastructure required for the construction of onshore wind turbines is less expensive and contributes to the cost-effective generation of electricity. For instance, in May 2022, General Electric announced the launch of next-generation 3 MW onshore wind turbine featuring a 140-meter rotor designed specifically in the North American region. Moreover, the onshore turbines are engineered to operate at variable speeds, thereby providing greater control over the rotation of the blades.
The offshore segment is expected to register the fastest CAGR growth during the forecast period. Offshore wind speeds are faster in comparison to land. As a result, variations in wind speed leads to large amounts of energy generation. Therefore, fewer turbines are needed to produce large amounts of energy, thereby reducing the installation costs of wind turbine pitch systems. Moreover, onshore wind farm's construction and operation creates significantly less emissions than other energy sources, thereby propelling the growth of the market during the forecast period.
Based on the Region :
The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
North America accounted for the largest revenue share in the year 2022 valued at USD 455.90 million and is projected to grow at a CAGR of 5.6% during the forecast period. North America is characterized by the presence of abundant wind resources that has contributed to the development of large wind farms in the region. Moreover, rising concerns about climate change and the need to reduce greenhouse gas emissions is driving the demand for wind turbine systems in the region. For instance, in September 2022, the Department of Energy launched floating offshore wind farm design project in order to drive U.S. leadership in offshore wind farm projects.
The Asia-Pacific region is expected to register the fastest CAGR of 5.8% during the forecast period. The region accounted for USD 344.20 million market share in the year 2022. Additionally, in the region, China accounted for the maximum revenue share of 26.1% during the same year. The growing initiatives by government and organizations for the generation of electricity using renewable energy sources is driving the growth of wind turbine pitch systems market. Additionally, rising installation of wind turbines in countries including India, China, Australia, and Japan is anticipated to propel the demand for these systems in the region during the forecast period.
Top Key Players & Market Share Insights:
The wind turbine pitch systems market is highly competitive owing to a number of key players operating in the market. Further, the surge in product innovation, various business strategies, and application launches have accelerated the growth of the wind turbine pitch systems market. Key players in the robotic process automation market include -
- 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
Recent Industry Developments :
- In September 2022, HAWE Hydraulik SE launched Plant-specific brake control for wind turbines from the modular system to stop the rotation of the gearbox efficiently for the maintenance of wind turbines.
- In September 2021, Nordex SE added N163/6.X turbine to its product line designed for moderate and light-wind regions consisting of 80 meter rotor blades for reducing the noise emission levels.
Key Questions Answered in the Report
What is Wind turbine pitch system? +
Pitch systems are an essential component of wind turbine systems that play a crucial role in the rotation of the wind turbine blades. Pitch systems are installed in the wind turbines to manage the power production and to stop the wind turbine in maintenance and emergency situations.
What specific segmentation details are covered in the wind turbine pitch systems market report, and how is the dominating segment impacting the market growth? +
The report consists of segments including Component, Operation, Enterprise Size, and End-User. Each segment has key dominating sub-segment being driven by the industry trends and market dynamics. For instance, by product has witnessed hydraulic pitch systems as the dominating segment in the year 2022, due to the easy installation, high stability, and the ability of hydraulic pitch systems to function in cold climate conditions.
What specific segmentation details are covered in the wind turbine pitch systems market report, and how is the fastest segment anticipated to impact the market growth? +
The report consists of segments including Component, Operation, Enterprise Size, and End-User. Each segment is projected to have the fastest growing sub-segment being fueled by industry trends and drivers. For instance, the application segment has witnessed off-shore segment to witness fastest CAGR growth during the forecast period.
Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030? +
Asia-Pacific region is expected to register fastest CAGR during the forecast period. The utilization of renewable energy sources for the generation of electricity is driving the growth of wind turbine pitch systems market.
