21-Apr-2021 | Zion Market Research
The global vertical axis wind turbine market accounted for USD 11,713.9 Million in 2020 and is expected to reach USD 16,115.9 Million by 2028, growing at a CAGR of 4.2 % from 2021 to 2028.
The type of wind turbine in which the main rotor shaft is set transverse to the wind, but not necessarily vertically, whereas the main components are located at the base of the turbine is known as vertical axis wind turbines. This vertical axis arrangement in the turbine allows the generator and the gearbox to set close to the ground, thus facilitating the service and repair operations. In these types of turbines, the turbines do not need to be pointed towards the wind, hence eliminating the need for mechanisms such as wind-sensing and orientation. Another advantage of vertical axis wind turbines is that they can be grouped more closely in the wind farms, which increases the generated power per unit of land area.
The introduction of vertical axis wind turbines in the market is mainly due to increase focus towards the installation of renewable energy. With the emergence of new technologies in vertical axis wind turbine, these types of turbines are anticipated to witness high demand and may prove to be an attractive alternative in the near future. The major benefit of vertical axis wind turbines over horizontal axis wind turbines is decisive advantages, such as they do not require any wind sensing or related mechanism, and hence are experiencing high levels of R&D recently. In addition, vertical axis wind turbines also tend to utilize lesser wind comparatively to generate an equivalent amount of energy; thus they can be used in lower altitudes regions wherein the velocity of wind is generally lower. Hence, the probabilities of utilizing vertical axis wind turbines in small-scale decentralized applications are expected to be high in the near future. Vertical axis wind turbines also prove to the most cost efficient and easy-to-use over horizontal axis wind turbines, which in turn is the major factor increasing the demand for vertical axis wind turbines in the global market.
On the basis of the design, the global vertical axis wind turbines market is segmented as the Savonius model, the Darrieus model, and the Giromill model. Geographically, the global market is further segmented as Asia Pacific, North America, Middle East and Africa and Europe.
North America and Europe are anticipated to experience the highest growth in the global vertical axis wind turbines market mainly owing to the rising technological innovations and development of vertical axis wind turbine in the future. On the other hand, Asia-Pacific is expected to witness the fastest growth due to the high installations in this region.
Major players dominating the global vertical axis wind turbines market include Bergey Wind Power Co., Northern Power Systems Inc., Kingspan Group Plc., and Endurance Wind Power Inc. Other key players influencing the global market are Shanghai Ghrepower Green Energy Co. Ltd., Xzeres Wind Corp., and ZKEnergy Technology Co., Ltd.
Browse the full “Vertical Axis Wind Turbine Market By Type (Darrieus, Savonius, And Giromill), By Application (Residential, Industrial, Commercial, (Hybrid Systems, Fishery, Farms, Pumping, Desalination And Purification)): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/vertical-axis-wind-turbine-market
The global vertical axis wind turbine market is segmented as follows:
Vertical-axis Wind Turbine Market: Regional Segment Analysis By Region
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