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
- 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.
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. 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..
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.
- Apart from the new turbine concepts, research has also focused on the development of new materials that are easily mass-produced at a low cost. Oak Ridge National Laboratory and the National Renewable Energy Laboratory (NREL) are partnering with GE Research, GE Renewable Energy, and LM Wind Power to deliver a full size 3-D printed blade tip in the U.S. Low-cost thermoplastic skin coupled with printed reinforcement offers the potential for stronger, less-expensive, and longer wind turbine blades, increasing energy capture and blade reliability, and decreasing energy and transportation costs.
- The project focuses on thermoplastics as it is expected to increase the efforts to make the wind turbine blades recyclable. About 85% to 90% of a wind turbine is recyclable, except for turbine blade material, which is typically made from thermoset composites.
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 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
Key Market Segments
- By Type
- Darrieus
- Savonious
- Garomill
- By Application
- Residential
- Industrial
- Commercial
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of LAMEA
Key Market Players
- GET
- Southwest Windpower
- Axis Wind Turbine
- Cyclone Wind Turbines
- Urban Green Energy
- Evance Wind Turbines
- Ogin Inc.
- VAWT Systems
- Helixwind
- Eocycle Technologies