High growth for wind turbine control market

The wind turbine control systems market is well positioned to experience extraordinary growth for the next several years due to the volatility in oil cost, worldwide push for clean energy, favorable government incentives, and available investments funding for this area in the world financial community, according to a new ARC Advisory Group study.

“Wind power is one of the key renewable energy sources that will make a significant contribution towards the goals of future energy models of every major country around the world. Wind power is now an important part of the global energy picture which is driving substantial growth in the business,” according to senior analyst Himanshu Shah, the principal author of ARC’s “Wind Turbine Control Systems Worldwide Outlook.”

The study covers wind turbine control systems which comprises five major types of sub-systems based on its functionality: Main Control System, Condition Monitoring System, Power Converter System, Pitch Control System, and Yaw Control System. Demand for wind turbine control systems is directly correlated to the demand for wind turbine manufacturing and wind power generation.

While global wind power installations have struggled throughout 2009, suppliers are expecting a strong rebound after 2010. Strategic decisions made now will have far reaching implications on wind turbine control system suppliers as recovery continues beyond 2010 with continuing push to add wind power generation capacity, says ARC. Intense market share competition will result in an increasing global competition and shift market power to the buyers.

The world’s appetite for energy is growing faster than additional sources of fuel can be found. And Asia’s strong demand for energy and growing pressure to reduce greenhouse gas emissions is driving demand of renewable sources of energy such as wind power.

Hence the worldwide market for wind power will continue to grow during the next five years due to substantial worldwide governmental incentives for renewable energy investments and new stimulus money in various countries as the push for alternative energy continues.