Diffuser Augmented Wind Turbine Market Size Anticipated to Reach $7.69 Billion by 2026

Diffuser Augmented Wind Turbine Market | IndustryARC
Rising Investments Towards Offshore Wind Energy Projects Positively Impact the Diffuser Augmented Wind Turbine Market Growth.

Diffuser Augmented Wind Turbine (DAWT) Market is anticipated to reach $7.69 billion by 2026, growing at a CAGR of 6.21% during the forecast period 2021-2026. Diffuser Augmented Wind Turbines (DAWT) is a type of wind turbine that uses a Diffuser to accelerate and guide air flow onto the rotor blades of a wind turbine, allowing for greater rpm and power production. The need for electrical power and energy on a global scale is steadily growing. With fossil fuel resources decreasing, attention has moved to renewable energy generation as a means of making anthropogenic energy use and demand more sustainable. This development is being fueled by a number of causes. Aside from the growing need to replace existing conventional power generating technologies, the consequences of climate change and global warming are intensifying at an unprecedented rate, prompting a speedier response. In the long run, an increase in the number of government efforts to encourage wind power generation, as well as an increase in wind energy projects and the development of wind farms, will propel the market ahead. Hence, these factors will drive Diffuser Augmented Wind Turbine (DAWT) market size in the forecast period 2021-2026.

Diffuser Augmented Wind Turbine (DAWT) Market Segment Analysis – By Location

This market is segmented into onshore, offshore on the basis of location type. Offshore segment is anticipated to witness significant amount of growth with a CAGR of 6.18% in the forecast period 2021-2026. Due to the constant wind flow at the seashore, an offshore wind turbine with diffuser has a high capacity factor. Offshore wind turbines, for instance, have a capacity factor of 0.5-0.7, but onshore wind turbines have a capacity factor of 0.25-0.3. According to EERE 2021, the US offshore wind pipeline increased by 24% year over year, with 35,324 MW in various phases of construction due to lowering offshore wind pricing, government action, and state-level pledges. In 2020, the total installed offshore wind capacity was 5,519 MW. Turbines grew in size, with typical rotor diameters surpassing 150 meters and turbine capabilities topping 7.5 megawatts. In 2020, new trends developed, such as a surge in interest in harnessing offshore wind to generate clean hydrogen. In 2020, the worldwide pipeline for floating offshore wind energy will have increased by more than thrice to 26,529 MW. The Department for Business, Energy & Industrial Strategy of the United Kingdom said in July 2021 that offshore wind generation will blossom in the long run, with more than £180 million in private investment. Furthermore, offshore wind manufacturers such as SeAH Wind Ltd and Smulders Projects UK will be eligible for a £160 Offshore Wind Manufacturing Investment Support Scheme individual award. Such governmental initiatives are further set to drive the market growth

Diffuser Augmented Wind Turbine (DAWT) Market Segment Analysis – By End Users

Industrial and Manufacturing segment is anticipated to witness significant market growth with CAGR of 6.29% in the global offshore wind market during 2021-2026. With rising electricity consumption in the industry, a rapid shift to renewable energy sources such as wind power is underway to reduce the company’s operating costs. Exploration and extraction activities in the oil and gas industry tend to increase the demand for enormous quantities of electricity capacity, assisting market expansion for offshore wind power. Furthermore, rising oil and gas company investments in offshore wind projects, a growing shift toward leveraging renewable energy to meet power generation needs and reduce plant operation disruptions due to pandemics, rising electricity consumption bills, and other factors will propel the market forward in the long run. In August 2021, ONGC, India’s largest oil and gas producer, has announced plans to engage in wind energy generating within its extensive offshore property in order to boost its renewable energy portfolio. With this, the business will help offshore wind projects by installing offshore wind turbines in both shallow and deep water areas. Such factors are set to boost the market growth of Diffuser Augmented Wind Turbine (DAWT) within the oil & gas sector in the coming time.

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Diffuser Augmented Wind Turbine (DAWT) Market Segment Analysis – By Geography

Europe region is anticipated to have a significant growth during the forecast period 2021-2026. Market growth has been attributed to factors such as an increase in the number of offshore wind turbine installations as well as government efforts or incentives aimed at expanding overall offshore wind energy production capacity. Furthermore, significant expenditures in R&D as well as tough regulations for industries to reduce CO2 emissions, can propel the market ahead in the long run. Furthermore, rising government policies or laws guaranteeing improved circumstances for the development of wind energy, as well as investments in the construction of wind facilities, are expected to accelerate market expansion in the near future. The UK government said in October 2020 that it intends to increase offshore wind power capacity from 30 GW to 40 GW by 2030. Britain announced a 95 million pound ($132 million) investment in the building of two new offshore wind farms in March 2021, as part of its objective of supporting the development of up to 9 GW of offshore wind energy projects per year. Such factors are set to aid the market growth in the coming time.

Diffuser Augmented Wind Turbine (DAWT) Market Drivers

Rise in demand of power generation drives the market growth for Diffuser Augmented Wind Turbine (DAWT)

The addition of a diffuser, a specifically designed duct that reduces the influence of turbulence on the turbine’s performance and allows more energy to be collected from a given wind speed, to a tiny wind turbine can potentially enhance the turbine’s energy production. Several countries in the region are working to develop sustainable solutions to reduce the usage of fossil fuels in electricity generation. Rapid advancements in the wind sector are expected in Russia and Turkey, as regulatory authorities focus on the implementation of auctions and tenders. Offshore wind projects in the Netherlands are moving quickly to meet the objectives set by regulators in the Dutch Energy Agreement (DEA). According to the DEA, an extra 3.5 GW of installed capacity will be achieved through the tender system in the Netherlands by 2023, increasing the market share of wind technology in the region.

Rising investments towards offshore wind energy projects positively impact the market growth

Rising investments in wind energy projects may be regarded as a significant driver of the market’s growth. Various end-use sectors, such as oil and gas, chemicals, and others, have begun to invest in wind energy projects in order to assist the shift to renewable energy and achieve established objectives for wind energy power output. Furthermore, increasing investment in wind farms to support the transition to renewable energy alternatives, as well as installation and decommissioning activities related to wind turbines, can propel the market forward even further. In March 2021, RWE Renewables announced its intention to invest approximately £3 billion ($4 billion) in the largest offshore project in the UK, the 1.4 GW Sofia offshore wind farm, which is scheduled to begin operations in 2023. In September 2021, ESB revealed its proposal for introducing a new phase of offshore wind development as part of ensuring the country’s capability to meet the 5GW capacity target by 2030. Such factors are further set to fuel the market demand towards Diffuser Augmented Wind Turbine in the coming years.

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Diffuser Augmented Wind Turbine (DAWT) Market Challenges

High investment cost may hinder the growth of the Diffuser Augmented Wind Turbine (DAWT) market

The CAPEXs associated with offshore systems are high, as there are high costs implicit in the installation, maintenance, and connection to the electrical grid of such systems. Since their offshore deployment requires the use of ships, divers, underwater electrical transmission cables, and underwater mooring. The high-costs and low reliability associated with offshore Diffuser Augmented Wind Turbine (DAWT) systems, created an issue with getting insurance for the offshore Diffuser Augmented Wind Turbine (DAWT) power stations.

Diffuser Augmented Wind Turbine (DAWT) Market Landscape

Technology launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Diffuser Augmented Wind Turbine (DAWT) market. In 2020, the market of Diffuser Augmented Wind Turbine (DAWT) industry outlook has been fragmented by several companies. Diffuser Augmented Wind Turbine (DAWT) top companies include

Elena Energie
Grumman Aerospace Corporation
Heriot Watt University, among others.

Key Takeaways

Europe Diffuser Augmented Wind Turbine (DAWT) market held the largest share in 2020, owing to factors including rise in investments and governmental measures to increase Diffuser Augmented Wind Turbine (DAWT) generation capacities.

Growing demand for power in coastal areas, and growing focus towards green energy sources.Rapid development in the renewable energy sector and an increase in demand for electricity from the marine industry.

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