The [FURL=https://www.industryarc.com/Report/19388/smart-rotor-wind-turbine-market.html?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]global Smart Rotor Wind Turbine market[/FURL] size is forecast to reach $593.1 million by 2026, growing at a CAGR of 9.8% from 2021 to 2026. The growing shift towards increasing renewable wind energy generation, along with investments on research & development (R&D) activities related to onshore and offshore wind turbines have been attributing to the market growth.Key Takeaways
Offshore application is analyzed to grow with the highest CAGR in the global Smart Rotor Wind Turbine market during 2021-2026, attributing to growing investment on offshore wind farm projects and rise in offshore wind turbine installations or commissioning contracts.
APAC Smart Rotor Wind Turbine market held the largest share in 2020, owing to growing initiatives towards wind capacity additions as well as rise in wind turbine installations.
Governmental efforts towards promoting high adoption of clean and renewable sources like wind energy along with rising number of research works for advancing wind turbine operations is analyzed to significantly drive the global smart rotor wind turbine market growth during the forecast period 2021-2026.
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Smart Rotor Wind Turbine Market Segment Analysis- By Geography
APAC region dominated the global Smart Rotor Wind Turbine market in 2020, with a share of around 34% and is also analyzed to have significant growth during the forecast period 2021-2026. Factors including growing initiatives towards wind capacity additions, rise in wind turbine installations, increasing investments on establishment of wind power generation facilities and so on have been attributing to the market growth. In addition, growing demand for lightweight and sustainable turbine blade designs or related components, need for high strength turbines to overcome adverse strong winds along with growing R&D activities on development of smart wind turbines can also drive the market growth forward across the region.
Smart Rotor Wind Turbine Market Drivers
Increasing research works on advancing wind turbine operations is set to assist the market growth of smart rotor wind turbines
Governmental efforts towards promoting high adoption of clean and renewable energy sources like wind energy drives the market forward
Smart Rotor Wind Turbine Market Landscape
The Smart Rotor Wind Turbine Market top 10 companies include Siemens Games Renewable Energy S.A, MingYang Smart Energy, Goldwind, GE Renewable Energy, Nordex SE, MHI Vestas Offshore Wind A/S, Enercon GmbH, Senvion S.A., Envision Energy, Sinoma Science & Technology Co. Ltd.
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