The global wind anemometers market is forecast to grow at a CAGR of 5.57% during the period 2017-2021.
The report, Global Wind Anemometers Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
One trend in the market is innovation of digital and smaller wind anemometers. Many wind farms are located in harsh weather terrains such as mountains or offshore sea locations. Due to their locations, these wind farms are in the high humidity and cold conditions. As the conditions are harsh due to high humid or cold weather, mechanical cup and vane anemometers tend to fail and need to be rebuilt due to the formation of ice or failure of components.
According to the report, one driver in the market is supportive regulatory policies for wind energy projects. Governments worldwide are supporting wind energy projects through favorable policies and tax incentives. The FiT policy, which is designed to encourage investments in technologies related to renewable energy generation, is one such notable example. The Renewable Energy Sources Act, 2014, in Germany established fixed FiTs for power utilities in the country, which used renewable energy for power generation. This policy covers various aspects of the wind energy industry such as eligibility, bonuses, and various other grants.
Further, the report states that one challenge in the market is competition from fossil fuels. According to the IEA, in 2016, the share of renewable energy in the global power generation was 23%. We expect this share to increase to 26% by 2020. Fossil fuels that dominated the global power generation, since their discovery, accounted for around 67% in 2016. However, it is still low considering the huge amount of electricity that is generated, globally. Since 2001, the share of wind power in the global energy mix has been increasing steadily. In countries that have abundant coal reserves, governments prefer not to replace coal-based electricity with alternate but costlier renewable energy sources such as wind power.