Vertical Axis Wind Turbine Market Analysis and Trends.
A vertical axis wind turbine is a type of wind turbine in which the main rotor shaft is set transverse to the wind, while the main components are present at the base of the turbine. Depending upon its applications, it can be used to produce power and is more suitable where the space is limited and risk is to be maintained.
The replacement and maintenance of the gearbox present on
vertical axis wind turbine is easier because it is located near the ground,
which reduces the efforts of the operator to climb hundreds of feet in air. It
does not need to be pointed into the wind hence, it does not require
wind-sensing and orientation mechanism. Vertical axis wind turbine is stronger,
smaller, quieter, more economical, and omnidirectional. These can be arranged
close to each other which helps in reducing the space required for the
installation.
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These are used for small wind projects and residential
applications. They use wind as a renewable source of energy; therefore, they
are economical as well as eco-friendly. The vertical axis wind turbine market
is experiencing growth owing to the increase in demand for clean renewable
energy.
COVID-19 Impact Analysis:
- The COVID-19 pandemic has adversely affected
the business of the vertical axis wind turbine due to the decline in the
economic growth of all countries and the disruption in the supply chain.
- Reduction in the household and personal income
in the COVID-19 pandemic has led to decrease in the demand for vertical
axis wind turbine.
- The market has gradually started to reach its
maximum potential leading to increase in the demand for vertical axis wind
turbine.
- The demand will increase depending on the
increase in awareness and need of the renewable resource, which is
economical as well as eco-friendly.
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Top Impacting Factor:
ü As the world is
moving toward the renewable energy, the vertical axis wind turbine market is
expected to experience growth because it uses only the renewable source.
ü The government is providing grant on renewable
energy set ups and is also promoting the use of renewable energy.
ü The advancement in
technologies have helped in cost reduction of the vertical axis wind turbine
and it has become an economical source for power generation.
ü However, the
inconsistent wind speed can cause restraining growth in the global market.
ü Vertical axis wind
turbine needs consistent wind flow to rotate the turbine, however, in some
areas there is unavailability of a constant wind flow.
ü The wind turbines
generate loud noise; therefore, these cannot be installed near the residential
area.
Market Trend
- The use of a hybrid street lightning system
involves the use of both solar energy and wind energy for energy
generation.
- Solar panels are used for converting solar
energy for generating electricity while wind turbines are used for
converting wind energy into electricity.
- A Spanish tech start-up has received funding
from the European Union’s Horizon 2020 research and innovation programme.
- The concept is new, which does not involve
blades to harvest energy, instead uses the air flow-induced vibrations of
mechanical systems—through aeroelastic phenomena.
- Bladeless technology consists of a cylinder
fixed vertically with an elastic rod. The cylinder oscillates to a wind
range, which generates electricity through an alternator system. This can
be installed in the residential areas.
Key Benefits of the Report
This study presents the analytical depiction of the Vertical Axis Wind
Turbine market along with the current trends and future estimations
to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and
opportunities along with detailed analysis of the Vertical Axis Wind Turbine market
share.
The current market is quantitatively analysed from 2020 to 2030 to
highlight the scenario of Vertical Axis Wind Turbine market growth.
Porter’s five forces analysis illustrates the potency of buyers &
suppliers in the market.
The report provides a detailed Vertical Axis Wind Turbine market
analysis based on competitive intensity and the competition will take shape in
upcoming years.
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