Power Electronics for Wind Turbines Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025
Power electronics
are solid state technologies employed for the conversion of electric
power. Power electronics for wind turbines are used for the
production, distribution, conversion, and efficient usage of
electricity. Wind turbine is one of the emerging renewable energy
technologies. There is a rise in demand for the usage of power
electronics for wind turbines in the wind power stations and
distribution networks. Wind turbines are generally installed both in
the onshore and offshore locations where there is availability of
good wind conditions. Power electronics are gradually becoming
advanced and they bring in significant performance improvement in the
wind turbines.
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The power
electronics for wind turbines market can be segmented based on their
types and applications. Power electronics act as an intermediate
between the wind turbines and the grid. Generators used in power
electronics for wind turbines are of two types: doubly-fed induction
generators and synchronous generators. Doubly-fed induction
generators consist of a wound rotor, induction generator, and
AC/DC/AC converter. They help in reducing the cost of the converter
and the power rating. Apart from wind turbines, power electronics are
also used in isolated networks and generator starters. While applying
power electronic converters for wind turbines, manufactures generally
opt for a solution-based double-level voltage source converter,
combined with a doubly fed induction generator.
A key factor driving
the usage of power electronics for wind turbines is that power
electronics can act as an alternate source of renewable energy
derived from wind. Technological inventions are coming up in order to
reduce production cost of wind turbines. In order to support or
promote usage of power electronics for wind turbines, government
subsidies and environmental litigations have been imposed in order to
curb the level of pollution. In recent years, there has been an
increasing need for renewable energy globally due to the rise in
environmental concerns and changing climatic conditions. Wind power
is a relatively well-explored technology, and can compete with other
energy sources such as coal and oil & gas on several parameters.
However, the high cost of production of electric power is poised to
be a restraint for the power electronics for wind turbines market.
Generation of energy is more dependent on the fossilized resources
such as coal and oil & gas than on the renewable energy resources
as wind and solar energy. A large area for wind energy generation is
required for the wind turbines to rotate. In terms of consistency,
wind energy has lot in common with solar energy, as the continuous
flow of wind speed is required for generation of electricity.
In terms of
geography, countries in Asia Pacific such as India, China, Singapore,
and Japan are the developing markets of power electronics for wind
turbines due to rapid industrialization and urbanization in these
countries. Government subsidies are also provided in order to curb
pollution. As an alternative energy source to oil & gas, demand
for power electronics for wind turbines is increasing significantly
in North America. Countries in Europe such as the U.K., Germany, and
France have high demand for the power electronics for wind turbines
due to their environment-friendly energy norms imposed by these
governments. The power electronics for wind turbines market is
estimated to develop in the countries in Africa and Latin America
after they recover from the economic slowdown.
Key market players
in the power electronics for wind turbines market are General
Electric, Inc., Vestas, Suzlon Energy Ltd, Guangzhou HY Energy, and
Siemens AG, etc.
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