The need to find an alternative source of energy has been rising over the last few years, due to depleting natural resources such as fossil fuels, natural gas, coal, and wood and increasing demand for energy. The obvious route is to discover a sustainable and renewable source of energy. Wind energy generation can be described as a process by which wind can be used to generate electricity or mechanical power. Wind turbines, similar to propeller blades of aircrafts, get turned in by the moving air. As they rotate, wind turbines convert the kinetic energy of wind into mechanical power. This mechanical power can be used for various purposes such as to power an electric generator or for household electricity requirements.
Seattle, WA -- (SBWIRE) -- 12/11/2019 -- The depleting natural resources such as coal and fossil fuels, among others, has further intensified the need to find an alternative route of power generation. The increasing awareness surrounding renewable sources of energy for power generation has put Wind Energy in the limelight. The process of generating electricity through wind energy is known as wind energy.
The movement of wind turbines caused due to wind translates the kinetic energy of wind into the mechanical energy which is further utilised in electricity generation. The employment of wind power converter in the whole system is to facilitate the input AC power at a certain voltage and frequency to an output power at a desired voltage and frequency.
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Wind power converters adopt to the variable wind speed, further enhancing the efficiency of the wind power systems. The increasing installations of wind power systems across the globe is anticipated to play a prominent role in propelling the wind power converter market in the coming years.
The opportunistic government schemes and subsidies are also opening up the doors in the wind energy value chain, thereby aiding the wind power converter marketplace. As the market for wind power converters is noted to remain directly influenced by new wind turbine installations, MRO as well as retrofit activities also play a significant role in the evolution of the market.
This rapid growth can be attributed to the rising concerns surrounding environment protection and utilisation of renewable resources. Following East Asia, the North America wind power converter market is expected to create significant opportunities for the manufacturers operating in the region. This is due to the optimistic support from the government and legislative authorities that facilitate the inclination towards renewable sources of energy, particularly wind power.
Considering the economics of wind power, the countries in South Asia are also noted to upscale the national wind power capacities, further gaining significant momentum in the wind power converter market.
Some of the market participants in the global wind power converter market identified across the value chain include Seimens AG, ABB Ltd, General Electric Company, Schneider Electric SE, Ingeteam Corporación, S.A., Fuji Electric Co., Ltd., American Superconductor Corp, Shenzhen Hopewind Electric Co., Ltd., Delta Electronics, Inc, and WOODWARD INC, among others.
The Wind Power Converter research report presents a comprehensive assessment of the Wind Power Converter market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Wind Power Converter research report provides analysis and information according to market segments such as geographies, scaffold type, position, number of points and number of tiers.
The Wind Power Converter report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Wind Power Converter report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The Wind Power Converter report also maps the qualitative impact of various market factors on market segments and geographies.
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