The global nacelle mounted LIDAR systems market for wind industry was valued at USD 29 million in 2016 and is expected to surpass USD 41 million by 2021, says Technavio.
Technavio has announced its latest market research report on the global nacelle mounted LIDAR systems market for wind industry to its power portfolio. This market analysis discusses the major drivers and key emerging trends and offers an analysis of key vendors like Leosphere, SgurrEnergy, Windar Photonics, and ZephIR Lidar.
According to Thanikachalam Chandrasekaran, a lead analyst for power research at Technavio, “The market will witness increased adoption of LIDAR technology. The easy and fast deployment nature of LIDAR systems along with its proven accuracy and dependability is driving the adoption of LIDAR technology.”
Wind power developers are using newer remote sensing technologies such as LIDAR that provide an accurate and reliable estimation of the wind yield. It measures the wind ahead of the turbine, and its easements are unaffected by the turbine. LIDAR helps in reducing the uncertainties in yield assessment, which increases the developer’s confidence in pursuing the project further.
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Favorable policy environment for energy transition
Governments across the globe realize the potential and long-term benefits of utilizing wind energy. To help the wind energy industry grow, governments are setting up favorable policies to help establish and sustain wind power against cheaper alternatives. Feed-in-tariffs (FITs) are being provided in almost all countries with wind power installations. Further, to increase healthy competition, auctions are being held for upcoming wind power projects.
Rise in offshore installations
Countries globally have started to invest more in installing offshore wind farms. Though these present some inherent difficulties such as higher cost of installation, complex, and costly maintenance operations, several governments have committed to installing more offshore wind power due to higher wind power generation capacity.
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This research report includes an in-depth analysis and market shares and sizes of the sub-segments and geography. An analysis of the key companies, including their market shares, business overview, key financials, etc. is provided in this study. This market study also provides a detailed analysis of key drivers, challenges, and opportunities influencing this market.
A more detailed analysis is available in the Technavio report titled, ‘Global Nacelle Mounted LIDAR Systems Market for Wind Industry 2017-2021‘. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Wind Turbine Gearbox Market 2016-2020
- Global Wind Turbine Bearing Market 2016-2020
- Global Wind Automation Market 2016-2020
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