Report Code: A12088 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Vertical Axis Wind Turbine Market
Request Now !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. 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
Top Impacting Factor
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. The government is providing grant on renewable energy set ups and is also promoting the use of renewable energy. 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. However, the inconsistent wind speed can cause restraining growth in the global market. Vertical axis wind turbine needs consistent wind flow to rotate the turbine, however, in some areas there is unavailability of a constant wind flow. The wind turbines generate loud noise; therefore, these cannot be installed near the residential area. After the withdrawal of the production tax credit scheme in the U.S., the investment scenario about the vertical axis wind turbine is not clear. Â This is anticipated to adversely affect the growth of the vertical axis wind turbine market in the upcoming years. The change from the non-renewable source of energy to renewable source of energy is projected to provide opportunity for the vertical axis wind turbine market. Present generation is aware of the benefits of using renewable energy. The commercial segment is expected to experience growth resulting in increased use of vertical axis wind turbine for energy generation..
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Vertical Axis Wind Turbine Market Report Highlights
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