Wind Turbine Monitoring Systems Market Set to Surge by USD 8.72 Billion by 2028
The growth in the wind power market, particularly in offshore installations, is a major factor propelling the wind turbine monitoring systems market.
June 13, 2024. By Abha Rustagi
The growth in the wind power market, particularly in offshore installations, is a major factor propelling the wind turbine monitoring systems market. Offshore wind energy installations have been on the rise, contributing to the increased demand for advanced monitoring systems that ensure the efficient operation and maintenance of wind turbines. However, the market faces challenges due to the prevalence of false alarms, which raise concerns about the reliability of turbine components.
Since 2010, the global offshore wind energy sector has witnessed growth, with installations increasing annually by 20-25 percent. The global offshore wind capacity reached 29.1 GW in 2020, with Europe leading at 22 GW. The UK and Germany accounted for the majority of this capacity, reflecting substantial progress in offshore wind development.
To reduce costs and improve efficiency, the industry is focusing on larger turbines, increased competition, more installations, and supply chain optimization. The UK and Norway have announced significant investments in floating offshore wind, with other countries like the US, Japan, China, South Korea, and India expected to expand their offshore wind projects in the coming years. This growth in offshore installations is anticipated to drive long-term demand for wind turbine monitoring systems.
The wind turbine monitoring systems market is benefiting from the global shift towards renewable energy sources. These systems provide real-time data on turbine performance, weather conditions, and system health, enabling predictive maintenance and optimized energy production.
The adoption of advanced technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) is fostering innovation in the sector, enhancing the efficiency and reliability of monitoring systems.
Governments and organizations worldwide are investing in wind turbine monitoring technology to reduce carbon emissions and promote sustainability. The market is expected to continue its growth trajectory as the transition to renewable energy sources accelerates.
please contact: contact@energetica-india.net.
Gaurav Dolwani
CEO
From Scrap to Sustainability: LICO Materials’ Circular Economy Approach
Gaurav Kumar
Head of Supply Chain and Manufacturing
Euler Motors Bridges Cost Gap Between EVs and ICE Vehicles with Localization
Shveta Arya
India Region Leader
Powering India’s Mobility Future: Cummins Showcases Advanced Power Solutions at Bharat Mobility
Samkit Shah
Co-Founder
Jitendra EV Leading Hybrid EV Revolution with Hydrix
Muthu Subramanian
MD & General Manager
From Charging to Swapping: How Yuma Energy is Changing EV Refueling