Market Overview:
The global wind converters market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for renewable energy sources across the globe and the rising awareness about climate change and its effects. The wind converters market can be segmented on the basis of type into small-scale wind converters and utility-scale wind converters. The small-scale wind converter segment is expected to grow at a higher CAGR than the utility-scale wind converter segment during the forecast period from 2018 to 2030. This can be attributed to factors such as lower installation costs, easy installation, and low maintenance requirements of small-scale wind turbines compared with large utility-scale turbines. Onshore applications are expected to account for a larger share of the globalwind converters market than offshore applications duringthe forecast period from2018to2030.
Product Definition:
Wind converters are devices that convert the kinetic energy of wind into electrical energy. The importance of wind converters is that they can help to provide a renewable source of energy for homes and businesses.
Small-Scale Wind Converters:
Small-scale wind converters are used to convert the kinetic energy generated from the wind into electrical energy. They work on a simple principle of using the air as a source of power by converting its velocity and pressure into electricity. Small-scale wind converters market is expected to witness significant growth over the forecast period owing to growing demand for renewable sources of energy, rapid industrialization, and increasing government support across various regions.
Utility-Scale Wind Converters:
Utility-scale wind converters are large wind turbines that are used to generate electricity. They have capacities of more than 10 kW and less than 1 MW. These devices can be used in various applications including commercial, residential, utility, and industrial sectors. Utility-scale wind converters can be easily distinguished from small scale ones as they have longer blades and higher rotor diameters.
Application Insights:
Onshore application dominated the global wind converters market in 2017, accounting for over 75% of the total revenue. The segment is expected to retain its dominance over the forecast period owing to various advantages associated with onshore wind energy including lower installation cost per unit of power generated and higher efficiency rate as compared to offshore.
The utility-scale segment is projected register a CAGR exceeding 11% from 2018 to 2030. Increasing number of projects for large-scale generation are likely drive the demand for utility-scale wind converters across various regions in order to meet growing electricity demand from industrial and residential consumers respectively. In addition, increasing R&D activities pertaining towards integration of solar photovoltaic along with onsite generators in order reach renewable energy independence are likely fuel regional demand over next seven years.
Regional Analysis:
North America accounted for the largest market share in 2017. The region is expected to maintain its dominance over the forecast period owing to growing wind energy capacity and a supportive government policy framework. For instance, as of 2016, Texas had installed more than any other state in U.S., with an average annual installation of nearly 1 GW across different categories (residential, non-residential). In addition, according to IEEFA Green Energy Wind Report 2018, California has added more new onshore wind power capacity since 2013 than any other state in the U.S., with 4 GW added by 2018 alone (IEEFA 2018).
Asia Pacific is anticipated to be one of the fastest-growing regions during the forecast period owing to increasing awareness about renewable energy sources and their environmental benefits among consumers as well as governments across various countries such as China and India.
Growth Factors:
- Increasing demand for electricity due to population growth and industrialization in developing countries
- Government policies and regulations supporting the use of renewable energy sources
- Reduction in the cost of wind turbines, thanks to technological advancements and economies of scale
- Growing awareness about the benefits of using wind power as a source of renewable energy
- Increased investment in wind power projects by private sector players
Scope Of The Report
Report Attributes
Report Details
Report Title
Wind Converters Market Research Report
By Type
Small-Scale Wind Converters, Utility-Scale Wind Converters
By Application
Onshore, Offshore
By Companies
Ingeteam, Siemens, ABB, GE, Infineon Technologies, Goldwind, NR Electric, Tyer Wind, The Switch, Woodward, Delta Group, FREQCON GmbH
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
143
Number of Tables & Figures
101
Customization Available
Yes, the report can be customized as per your need.
Global Wind Converters Market Report Segments:
The global Wind Converters market is segmented on the basis of:
Types
Small-Scale Wind Converters, Utility-Scale Wind Converters
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Onshore, Offshore
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Ingeteam
- Siemens
- ABB
- GE
- Infineon Technologies
- Goldwind
- NR Electric
- Tyer Wind
- The Switch
- Woodward
- Delta Group
- FREQCON GmbH
Highlights of The Wind Converters Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Small-Scale Wind Converters
- Utility-Scale Wind Converters
- By Application:
- Onshore
- Offshore
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Wind Converters Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Wind converters are devices that convert wind power into usable energy. They can be used to generate electricity, heat, or cooling.
Some of the major companies in the wind converters market are Ingeteam, Siemens, ABB, GE, Infineon Technologies, Goldwind, NR Electric, Tyer Wind, The Switch, Woodward, Delta Group, FREQCON GmbH.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Wind Converters Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Wind Converters Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Wind Converters Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Wind Converters Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Wind Converters Market Size & Forecast, 2018-2028
4.5.1 Wind Converters Market Size and Y-o-Y Growth
4.5.2 Wind Converters Market Absolute $ Opportunity
Chapter 5 Global Wind Converters Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Wind Converters Market Size Forecast by Type
5.2.1 Small-Scale Wind Converters
5.2.2 Utility-Scale Wind Converters
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Wind Converters Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Wind Converters Market Size Forecast by Applications
6.2.1 Onshore
6.2.2 Offshore
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Wind Converters Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Wind Converters Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Wind Converters Analysis and Forecast
9.1 Introduction
9.2 North America Wind Converters Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Wind Converters Market Size Forecast by Type
9.6.1 Small-Scale Wind Converters
9.6.2 Utility-Scale Wind Converters
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Wind Converters Market Size Forecast by Applications
9.10.1 Onshore
9.10.2 Offshore
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Wind Converters Analysis and Forecast
10.1 Introduction
10.2 Europe Wind Converters Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Wind Converters Market Size Forecast by Type
10.6.1 Small-Scale Wind Converters
10.6.2 Utility-Scale Wind Converters
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Wind Converters Market Size Forecast by Applications
10.10.1 Onshore
10.10.2 Offshore
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Wind Converters Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Wind Converters Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Wind Converters Market Size Forecast by Type
11.6.1 Small-Scale Wind Converters
11.6.2 Utility-Scale Wind Converters
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Wind Converters Market Size Forecast by Applications
11.10.1 Onshore
11.10.2 Offshore
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Wind Converters Analysis and Forecast
12.1 Introduction
12.2 Latin America Wind Converters Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Wind Converters Market Size Forecast by Type
12.6.1 Small-Scale Wind Converters
12.6.2 Utility-Scale Wind Converters
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Wind Converters Market Size Forecast by Applications
12.10.1 Onshore
12.10.2 Offshore
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Wind Converters Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Wind Converters Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Wind Converters Market Size Forecast by Type
13.6.1 Small-Scale Wind Converters
13.6.2 Utility-Scale Wind Converters
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Wind Converters Market Size Forecast by Applications
13.10.1 Onshore
13.10.2 Offshore
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Wind Converters Market: Competitive Dashboard
14.2 Global Wind Converters Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Ingeteam
14.3.2 Siemens
14.3.3 ABB
14.3.4 GE
14.3.5 Infineon Technologies
14.3.6 Goldwind
14.3.7 NR Electric
14.3.8 Tyer Wind
14.3.9 The Switch
14.3.10 Woodward
14.3.11 Delta Group
14.3.12 FREQCON GmbH
