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Renewable Energy Market Opportunities: Wind Testing
Frost & Sullivan, March 2011, Pages: 72
This research service covers the Global wind energy test systems market. For the purpose of the research both non-destructive test equipment and condition monitoring equipment product segments have been considered. Sub-segments such as ultrasonic, radiography, surface and visual inspection, thermal analysis, oil analysis and vibration analysis are included in the analysis. The research looks into the contribution of major regions such as North America, Europe, Asia Pacific and Rest-of-World to the market.
Research Overview
This Frost & Sullivan research service titled 'Renewable Energy Market Opportunities: Wind Testing' provides analysis of market drivers, restraints and challenges, revenues forecasts by product type and geographic region. In this research, Frost & Sullivan's expert analysts thoroughly examine the markets for non-destructive test (NDT) equipment and condition monitoring equipment. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth.
Market Overview
Beyond Testing Times: Wind Energy Test & Monitoring Market Poised for Growth
Spotlight on Renewable Energy post Recession Ensures Strong Traction for the Wind Testing Market
Improved global economic conditions and the gravitation toward renewable energy enabled robust growth for the wind testing market during 2010. With the alarm bells ringing louder over climate change and depletion of natural resources, alternatives such as wind, solar, and geothermal energy as well as biofuels have been garnering significant attention. The trend toward clean energy is underway, with wind turbines becoming the fastest-growing energy source in the world and enabling higher power outputs. New opportunities are unfolding for the wind testing market as the need for certification and verification of wind turbine components increases. Both component manufacturers and wind power operators need to test, monitor, and inspect procedures during the product’s lifecycle. “The adoption of newly-developed turbine technologies is likely to trigger fast-paced growth in the global wind industry,” notes the analyst of this research service. “Increasingly sophisticated computational Interpretation and analytic capabilities of measured data are driving the growth of the condition-monitoring solutions market.” The CAGR of global offshore wind farm capacity is pegged at 32.0 percent from 2009 to 2015, with its contribution expected to reach 55 gigawatts (GW) by 2020.
One of the key challenges that the vendors in this market face is the lack of a final standards that define the testing procedures. Finalizing testing standards at the earliest will benefit stakeholders in the wind energy sector and drive revenues in this market. Although the wind energy sector has picked up steam, acceptance of wind as an energy source is slowing down due to higher operation and maintenance (O&M) costs. This has a profound impact in cases where the location of wind energy plants/farms is remote, as in offshore constructions.
Test equipment manufacturers catering to this market are challenged to provide cost-effective solutions to keep O&M costs low. In the non-destructive test (NDT) equipment segment, inspections on wind plant infrastructure are carried out by visual, radiographic, and ultrasonic methods from the design phase until maintenance after installation. “The use of composite materials in the construction of blades and towers for greater efficiency and reliability necessitates better NDT techniques and tools,” says the analyst. “The vendors in this market have to tackle this issue by expediting R&D efforts to keep pace with the evolving component technologies.”
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