Beyond Testing Times: Wind Energy Test & Monitoring Market Poised for Growth, Finds Frost & Sullivan
Spotlight on renewable energy post recession ensures strong traction for the wind testing market, which is expected to reach $84.3 million in 2015
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.
New analysis from Frost & Sullivan, Renewable Energy Market Opportunities:
“The adoption of newly-developed turbine technologies is likely to trigger fast-paced growth in the global wind industry,” says Frost & Sullivan Industry Analyst Sivakumar Narayanaswamy. “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% from 2009 to 2015, with its contribution expected to reach 55 gigawatts (GW) by 2020.
One of the key challenges for vendors in this market is the lack of standards that define the testing procedures. Finalizing testing standards at the earliest will benefit stakeholders in the wind energy sector and drive revenues.
In addition, 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 therefore 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 Narayanaswamy. “The vendors in this market have to tackle this issue by expediting R&D efforts to keep pace with the evolving component technologies.”
If you are interested in more information on this study, please send an email to Anna Zanchi, Corporate Communications, at anna.zanchi@
Renewable Energy Market Opportunities:
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.
Corporate Communications – Europe
P: 0039 02 46514819