11 March 2019: Wind
Turbine Converter Market Research Report includes In-depth
Analysis of industry by recent technologies, trends, opportunities, challenges,
key players and business strategies considering types, segment, and future
analysis. Wind Turbine Converter Market Research Report provides information on
Products, Services, Trends, Top Companies, Verticals, Countries, Material,
Application, and Geography globally. This report will help the viewer in Better
Decision Making.
The Global Wind Turbine Converter Market is anticipated to grow at a staggering CAGR of 4.7% in
the forthcoming period. A power liquid-cooled converter is one of the essential
components in the design of wind turbine that encompasses permanent magnetic
synchronous generator (PMSG). This technology is broadly used at present for
wind turbines. Technically, a power converter attaches with permanent magnet
synchronous generator to enable effective grid connected power generation.
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The driving factors responsible for the growth of wind turbine
converter market include decline in production cost for wind turbine products,
rise in automation, and optimization of wind power system. In addition, a wind
turbine converter reduces power loss and enhances utilization of wind energy.
Government subsidies and regional support act as a driver to market
development. However, significant costs of installation, expensive spare parts,
and dearth of periodic maintenance are likely to curb the market developments
in the near future.
Geographical segmentation for wind turbine converter market
includes North America, South America, Europe, Asia-Pacific, Middle East and
Africa. Asia-Pacific regions are expected to account for a significant market
share during the forecast period. Factors such as consumers’ awareness and
adoption of clean and renewable sources of energy are the other drivers. Rise
in the number of offshore wind turbine installation contributes to the market
development. Technological advances in the wind energy market and increased
production are likely to act as a catalyst for the market growth.
North American and European regions are likely to witness a
substantial market share in the global scenario due to government support and
subsidy. Rise in expenditure for production of electricity is a great concern
in the U.S. and there arises a need for viable alternatives. Wind turbine
converters could be an optimized solution, responsible for massive production
of electricity. Consumers’ awareness regarding environmental degradation is
another market driver for wind turbine converter in the western part of the
globe. The key players in the wind turbine converter market include AMSC, ABB,
Woodward, Ingeteam, Emerson, Siemens, Switch, Vacon, Schneider and GE Power.
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Wind Turbine
Converter Market by Geographical Regions:-
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
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