Increasing Wind Turbine Installation in Onshore and Offshore Areas are Expected to Drive the Anemometer Market Growth
According to the new market research report ‘Global Anemometer Market, by Product Type (Velocity Anemometer and Pressure Anemometer), by Technology (LIDAR and SODAR), by Application (Onshore and Offshore), by End-Use Industry (Agriculture, Aviation, Oil & Gas, Marine, Transport & Logistics, Renewables, and Others), and by Geography (North America, Europe, Asia Pacific, Latin America, Africa, and Middle East) – Global Forecast to 2025′, is estimated to be valued at over US$ 561.85 million by 2025 and expected to exhibit a CAGR of 5.79% during the forecast period (2017 – 2025), as highlighted in a report published by Coherent Market Insights.
Increasing number of wind energy generation projects, with total 486,790 MW installed wind power capacity in 2016 and the rising demand for modern instruments for air speed, air quality and velocity measurement, due to the rising environmental pollution, is boosting the market growth globally.
Increasing number of wind turbine installations is further fueling the market growth. According to the International Renewable Energy Agency (IRENA), the global cumulative renewable generation capacity reached 2,006 GW in 2016 grew by 8.7%, with a record of 71 GW new solar energy, the first time since 2013 that solar energy outpaced wind energy capacity additions. Wind energy accounted for 51 GW of new capacity addition of this.
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Key Takeaways of the Anemometer Market:
The global Anemometer market is projected to reach over US$ 561.85 million by 2025, exhibiting a CAGR of 5.79% over the forecast period.
Among velocity anemometers, the hot wire anemometers accounts for largest market share, as it is widely used for evaluating the velocities of wind across various industries such as chemicals and oil & gas.
North America accounted largest market share in anemometer market, in 2016, followed by Europe and Asia Pacific respectively. According to The Global Wind Energy Council (GWEC), total wind power installed capacity in North America was 97,611 MW in 2016.
China is the leading market for anemometer in Asia Pacific region. According to GWEC, China has largest share of new installed wind capacity and cumulative capacity with 42.7% and 34.7% respectively in 2016, followed by Japan, South Korea, Taiwan and India, respectively. The total wind power installed capacity in China was 168,732 MW, in 2016.
Germany, the U.K., and France contributed significant shares in the anemometer market across Europe, with 10%, 1.3%, and 2.9% wind installed capacity, in 2016, respectively. Germany ranked 3 in the global wind power installed capacity in 2016, according to GWEC.
The UAE, South Africa, Brazil and Argentina are dominant markets for anemometer across Middle East and Africa and Latin America. According to GWEC, Brazil ranked fifth in the global wind power installed capacity in 2016 with 2,014 MW of wind power installed and 3.7% of global market share.
Key companies covered as a part of this study include Ammonit Measurement, FT Technologies, Gill Instruments, Lufft, Siemens, Delta Ohm Benelux, IED Electronics, LCJ Capteurs, Maretron, NRG Systems, PCE Deutschland and Vaisala.
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