New York, May 19, 2023 (GLOBE NEWSWIRE) -- According to Consegic Business Intelligence's research report on the Global Wind Turbine Pitch Systems Market, the market exhibited a value of USD 1,421.12 million in 2022 and is projected to exceed USD 2,115.46 million by 2030, with a steady growth rate of 5.4%. This growth can be attributed to the increasing adoption of wind energy as a sustainable power source, driving the demand for efficient and reliable pitch systems that optimize turbine performance and enhance energy generation.
A Pitch system is an essential component of wind turbine that is used to monitor and adjust a wind turbine's rotor blade angle. Pitch systems play a crucial role in improving turbine performance due to the ability to adjust the rotor blades into the wind direction, controlling power production and enhancing reliability and safety of the wind turbines.
The government initiatives in alternative power generation possibilities are driving the growth of wind turbine pitch systems market. Government and Companies increasingly focusing on generation of energy that produces no greenhouse gas emissions from fossil fuels, in turn driving the market growth. For instance, in September 2022, HAWE Hydraulik SE introduced a Pitch Bearing Unit (PBU) comprising of a pitch drive integrated with Thyssen Krupp Rothe Erde and a blade bearing. Thus, the utilization of wind energy to meet the increasing demand for electricity is accelerating the growth of the market.
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Further, incorporation of advanced technologies such as data analytics into the wind turbine systems is expected to present significant growth opportunities for the wind turbine pitch systems market. The performance of wind turbines is expected to improve by processing the Supervisory Control and Data Acquisition Data (SCADA). SCADA data is processed to improve decisions made about maintenance schedules of wind turbines. Consequently, the analysis of SCADA is presenting future growth opportunities for the wind turbine pitch systems market. However, the presence of alternate sources such as solar energy for the generation of electricity is limiting the growth of the market.
Global Wind Turbine Pitch Systems Market Segmentation Details:
Based on Product, the hydraulic pitch systems segment contributed the largest shares to the market growth in 2022. The high stability, easy installation, and the ability of hydraulic pitch systems to function in cold climatic conditions is driving the growth of wind turbine pitch systems market. Moreover, the ability of wind turbine pitch systems to adjust the angle of rotation of wind turbines is accelerating the growth of the market.
Based on Application, the on-shore segment accounted for the maximum revenue share in the year 2022. The low maintenance, installation and material costs of wind turbines for on-shore applications is driving the growth of wind turbine pitch systems market. The on-shore wind turbines are constructed on land for efficient generation of electricity, thereby contributing to the cost-effectiveness of wind turbines. Moreover, the ability of on-shore turbine to operate at variable speeds is accelerating the growth of the market.
Based on region, The North American region has been a major contributor to the growth of the wind turbine pitch systems market. The abundant wind resources in cold climatic conditions in the North American region is driving the growth of wind turbine pitch systems market. Moreover, the increasing demand for electricity in the region is contributing to the growth of the market. Furthermore, government initiatives in alternate power generation possibilities is accelerating the growth of the market.
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| Report Attributes | Report Details |
| Market Size By 2030 | USD 2,115.46 Million |
| Forecast Period | 2023-2030 |
| CAGR (2023-2030) | 5.4% |
| Base Year | 2022 |
| Study Timeline | 2017-2030 |
| 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 |
| By Product |
|
| By Application |
|
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
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Key Market Highlights
- Asia Pacific and North America are estimated to support the market growth during the forecast period in terms of the large presence of market players combined with high expenditures on technological advancements in Wind Turbine Pitch Systems Market.
- Globally, wind turbine pitch systems market is divided based on the product into Hydraulic Pitch Systems and Electric Pitch Systems.
- In the context of Application, the market is separated into On-Shore and Off-Shore.
- The market is geographically divided into five regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
Wind Turbine Pitch Systems Market Growth Drivers:
- The increasing government initiatives in alternative power generation possibilities is driving the growth of wind turbine pitch systems market.
- Technological advancements in the wind-turbine systems such as fixed RPM and variable speed turbines are propelling the growth of wind turbine pitch systems market.
- The increasing demand for sustainable energy generation to reduce harmful gas emissions is accelerating the growth of the market.
Restraints
- The high installation and maintenance cost of wind turbines hinders the growth of the wind turbine pitch system market.
- The presence of alternate sources including solar energy for the generation of electricity is limiting the growth of the market.
Opportunities
- The incorporation of advanced technologies such as data analytics into the wind turbine systems is expected to present significant growth opportunities for the wind turbine pitch systems market.
Recent Developments
- In September 2021, Siemens Gamesa launched first recyclable wind turbine blade for commercial use in offshore applications.
- In January 2021, Siemens Energy collaborated with Siemens Gamesa to develop an industrial-scale system capable of harvesting green hydrogen from offshore wind.
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List of Major Global Wind Turbine Pitch Systems Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through the implementation of technology, product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
• 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
Global Wind Turbine Pitch Systems Market Segmentation:
- By Product
- Hydraulic Pitch Systems
- Electric Pitch Systems
- By Application
- On-Shore
- Off-Shore
Key Questions Covered in the Wind Turbine Pitch Systems Market Report
- What are Wind Turbine Pitch Systems?
- Pitch control system in wind turbines is a gear mechanism used to ensure the rotation of the blades in the direction of the wind at a desired rotor speed. The pitch systems plays a crucial role in protecting and controlling the blade angles with an aim to utilize maximum wind power for the generation of electricity.
- What are some of the most important applications of wind turbine pitch systems and how do they impact the industry's growth potential?
- Wind turbine pitch systems are utilized for on-shore and off-shore applications for cost-effective generation of electricity. Onshore construction of wind farm produced less emissions than other energy sources, thereby propelling the growth of the market during the forecast period. However, offshore wind farms are constructed on land that results in the cost-effectiveness of off-shore wind turbines.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the wind turbine pitch system market's growth in the coming years?
- North America accounted for the largest revenue share in the year 2022. The rising government initiatives to utilize wind energy for power generation in order to reduce the greenhouse gas emissions is driving the growth of wind turbine pitch system market. - Which region/country is anticipated to witness the highest CAGR during the forecast period, 2023-2030?
- The Asia-Pacific region is expected to register fastest CAGR growth during the forecast period due to the growing initiatives by government and private-led organizations for cost-effective generation of electricity. Moreover, the rising fuel prices in the Asia-Pacific region is contributing to the growth of the market.
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