Global Wind Automation Market 2016-2020

Market overview of the wind automation market

Technavio’s market research analyst predicts the global wind automation market to grow at a CAGR of more than 7% during the forecast period. Rising environmental concerns are one of the key growth drivers for this market. Nearly half of global warming is caused by CO2 emissions from power generation using fossil fuels. As a result, various countries are placing emphasis on the use of renewable energy sources for power generation. Wind energy is the cheapest among all renewable sources of power generation with negligible CO2 emissions. Using wind as a source of energy for power generation provides an additional and more reliable power generation method for consumers to bank on. Also, depending solely on fossil fuels to generate the power required to meet high demand is not a solution, as the cost of fossil fuels is increasing with their depleting reserves. The relatively environmentally friendly characteristics of wind power will positively impact the growth of this market.

The increasing investments made towards technology research for renewable energy worldwide is expected to drive the demand for wind automation over the forecast period. Several countries have taken initiatives to increase the use of renewable sources for power generation by 2022 and 2025. Wind power accounted for 16%-18% of the overall technology research investment made for renewable energy in 2015. Technavio’s analysts estimate that investments in the technology research for wind power will grow at a CAGR of 40% during the forecast period. These investments will include research for new and advanced turbines, control systems, advanced substations and wind farms, and new power generation and transmission grid technology.

Product segmentation and analysis of the wind automation market

• Geared motors and drives
• DCS
• SCADA
• PLC