Wind Turbine Pitch Supercapacitor Market Estimated to Grow at a CAGR of 15.12% During the Forecast Period 2022-2027

April 25 19:12 2022
Wind Turbine Pitch Supercapacitor Market Estimated to Grow at a CAGR of 15.12% During the Forecast Period 2022-2027
Wind Turbine Pitch Supercapacitor Market | IndustryARC
Global Investments in Renewable Energies Such as Wind Turbines Driving the Growth of Wind Turbine Pitch Supercapacitor Market.

The global Wind Turbine Pitch Supercapacitor Market is estimated to grow at a CAGR of 15.12% during the forecast period 2022-2027 and reach $347.9 million by 2027, from around $147.5 million in 2021. In comparison to batteries, ultracapacitors offer a high power density, high efficiency and improved pitch control, extended service life, predictable ageing, a wide operating temperature range, and are light weight. Modern applications in the rapidly expanding renewable energy market place high demands on both their components and their operating strategy. As the cost of electricity generated by renewables like wind and solar falls closer to the cost of electricity supplied by traditional power plants, demand for components with high dependability and efficiency rises. Ultracapacitors, which are fast-responding, power-packed energy storage devices that have been integrated into a range of applications and sectors, are the most often utilized pitch technology for turbines today, accounting for 43% of newly installed turbines worldwide in 2015. Batteries account for 20% of electric pitch systems, while hydraulic turbines account for the remaining 37%.

Wind Turbine Pitch Supercapacitor Market Segment Analysis – By Type

Electrostatic double-layer Capacitors dominated the Wind Turbine Pitch Supercapacitor Market with a value share of approximately 53% in 2021, Electric double layer capacitors are one of the next steps in lowering costs and increasing the efficiency of wind turbines. Ultracapacitors can tolerate rapid, repetitive charges and discharges at high power since they don’t rely on electrochemical reactions. Hybrid capacitors feature fewer flaws than traditional aluminium electrolytic capacitors, as well as benefits such as safety and low layer capacitors (LC), which drive category growth. Utilities dominated the Wind Turbine Pitch Supercapacitor Market with a value share of approximately 78% in 2021. Due to the technology’s numerous advantages over battery-based pitch systems, the wind industry is seeing a growing shift toward ultracapacitor wind pitch systems. Because an ultracapacitor stores energy in an electric field rather than a chemical process, it can withstand hundreds of thousands of charge and discharge cycles and function at considerably lower and higher temperatures than a battery. Ultracapacitors are noted for their unique ability to deliver a strong burst of power—unlike batteries, they can swiftly and efficiently capture and release energy. The significant benefit for wind park developers is that they may be able to access previously unfavourable sites, particularly in the offshore wind industry, which is expected to increase at over 23% per year through 2025.

Wind Turbine Pitch Supercapacitor Market Segment Analysis – By Capacitance

The capacitance range from 800-3000F are moderately used in the pitch control systems. The growing demand with the rising construction and wind energy installation projects are analyzed to boost the market growth rate during forecast period 2022-2027. In India there are around $55.7bn wind power projects under construction. As stated by US Department of Energy, With spending estimated to $15bn, Massachusetts is constructing 6 new projects. With a cumulative investment through 2019 of $4.2bn, New York will build 18 new projects with spending estimated to $11bn.The global Wind power installed capacity grew at a CAGR of 11.14% during the period 2015-2020 and reached total installed capacity of 733 GW by 2020. Despite the pandemic it increased by 12.68% from 2019.  Around 93GW of new wind power capacity was installed in 2020 according to the GWEC, out of which a significant majority share was from China with 55.91% followed by USA with 18.19% and surprisingly Brazil with 2.47%.  It Is now estimated that 113GW capacity will be installed in 2025, growing each year during 2021-2025. The wind power capacity growth annually augurs well for the supercapacitor companies, targeting sales with respect to the wind turbine pitch control systems.

For More Information About Wind Turbine Pitch Supercapacitor Market @ 

https://www.industryarc.com/Report/19849/wind-turbine-pitch-supercapacitor-market.html

Report Price: $ 4500 (Single User License)

Wind Turbine Pitch Supercapacitor Market Segment Analysis – By Geography

APAC dominated the Wind Turbine Pitch Supercapacitor Market with a value share of approximately 60% in 2021, Continuous infrastructural development and rapid industrialization are two aspects driving the growth of the Wind Turbine industry, particularly in China, which has fuelled demand for the market in this region. However, due to significant demand for Wind Turbine Pitch Supercapacitor in big and mid-sized enterprises, North America is predicted to grow at a faster CAGR throughout the projection period. Approximately 20% to 30% of the wind turbines in the field are equipped with an ultracapacitor electrical pitch control system. Ultracapacitor-based pitch control systems have a lower total-cost-of-ownership than battery- based systems. The electrical system costs excluding the energy storage itself tend to be lower due to simpler charging and monitoring systems. The portion of costs of a pitch control system compared to the entire system cost of a wind turbine is between 3% to 5%. Considering total cost of ownership, the balance shifts in favor of ultracapacitor based systems due to the long life and minimal maintenance. Considering a 20-year-period as typical wind turbine service life, the total energy storage cost due to periodical battery replacement is 2.5 times the total cost of an equivalent ultracapacitor energy storage system.

Wind Turbine Pitch Supercapacitor Market Drivers

Higher adoption of Pitch super capacitors in wind turbines

Hydraulic systems are complex and require heavy maintenance and are difficult to troubleshoot when issues occur. Lead-acid batteries similarly require maintenance throughout their lifetime, leading to expensive downtime. However, ultracapacitors provide several advantages over competing technologies such as no maintenance required throughout the 15+ year lifetime and reaction time measured in milliseconds. Ultracapacitors significantly reduce the risk of collateral damage, while decreasing maintenance cost, and increasing reliability. Ultracapacitors are very efficient energy storage devices. Short-term imbalances between power demand and power availability are buffered by this extremely dependable energy storage. Ultracapacitors can function at a wide variety of temperatures and have exceptional low-temperature performance. It is not unusual for ultracapacitors to have a 97% or greater efficiency. Due to their operating features, particularly the high power density, ultracapacitors are an excellent alternative for electric pitch control systems. An electric pitch control system has a modest energy requirement that ultracapacitors can readily meet. A blade pitch order usually takes around 30 seconds to complete. Systems based on ultracapacitors are smaller and lighter, and they don’t need to be enlarged to handle high power cycling. Ultracapacitors are also recognised to be a green technology because of their great efficiency and the materials utilized in their production.

Global investments in renewable energies such as wind turbines

As stated by US government, Wind power installations outpaced those in solar power for the first time in several years and represented $24.6 billion of investment. Wind provides more than 10% of electricity in 16 states, and over 30% in Iowa, Kansas, Oklahoma, South Dakota, and North Dakota. New wind projects account for annual investments of over $10 billion in the U.S. economy. The United States has a vast domestic resources and a highly-skilled workforce, and can compete globally in the clean energy economy. As stated by NREL, Offshore wind could trigger more than $12 billion per year in U.S. capital investment in offshore wind projects. As stated by EIA, the share of U.S. electricity generation from wind accounted to about 8.4% in 2020. Incentives in Europe have resulted in a large expansion of wind energy use there. China has invested heavily in wind energy and is now the world’s largest wind electricity generator. In 2019, 127 countries generated a total of about 1.42 trillion kWh of wind electricity.

Direct Purchase @ https://www.industryarc.com/purchasereport.php?id=19849

Wind Turbine Pitch Supercapacitor Market Challenges

High Capital Cost

Although the adoption of the wind turbines is significant, the installation costs are high which are hindering the market growth rate. The capital cost of the wind generated power is 28-55USD whereas, the gas generated power is 11USD, Hence the cost is thrice to that of the conventional systems. The costs incurred in the wind turbine installation include the heavy machinery and the capacitors involved in the pitch control are made of high cost materials, hence the overall costs are high which are majorly hampering the market growth rate during the forecast period 2022-2027

Wind Turbine Pitch Supercapacitor Market Landscape

Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the market. Wind Turbine Pitch Supercapacitor  top 10 companies include: 

Maxwell Technologies

Kemet

Anwei Technology

Vitrocell

Kamcap

Vinatech

Skeleton Technology

Nippon Chemi-con

Yunasko

CSI Capacitors

Recent Developments

In October 2020, Skeleton Technologies in cooperation with Wrightbus will supply high energy ultracapacitor model to fuel the cell buses in UK. The two times higher energy density makes them an ideal addition to the hydrogen fuel cells in emission free transportation.

In August 2021, Vitzro Cell acquired Flex Power Co Ltd in order to enhance their product portfolio surrounding Supercapacitors.

Key Takeaways

While the accessible potential for deployment of wireless connectivity in substation automation is high, the acceptance of the technology is afflicted by myriad set anxieties and worries close to the wireless technology, one among which is the lack of interoperability

Approximately 83% of the end-users across substation automation regarded interoperability as major concern.

Accomplishment of interoperability would necessitate a construction of full fledged architecture with software based systems, in which disparate standards can be applied.

Being connected to a substation and retrieving vital information from remote devices has always been a challenge for system designers. Not all the substations are of the same size or importance. Many substations are in remote areas where communication could be the biggest challenge when it comes to monitoring a substation.

Relevant Report:

Supercapacitors in Electric Vehicle Market

https://www.industryarc.com/Report/19618/supercapacitor-in-electric-vehicles-market.html

For more Energy and Power related reports, please click here

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Media Contact
Company Name: IndustryARC
Contact Person: Mr. Venkat Reddy
Email: Send Email
Phone: (+1) 970-236-3677
Address:Madhapur
City: Hyderabad
Country: India
Website: https://www.industryarc.com/

  Categories: