Albany, NY, Oct. 21, 2015 (GLOBE NEWSWIRE) -- The increase in consumption of the electrical energy by two percent per year has boosted the growth of the renewable sources. By 2060, around half of the world's electrical energy is expected to come from wind turbines stations. Wind energy is now the world\'s leading growing energy source. The continuous growth in the wind energy industry can be attributed to the research and development of innovative cost-reducing technologies and concerns to the environmental issues. Power electronics in the wind turbines contributes to the largest share of power electronics market. The change in the turbine architecture and convertors with an aim at greater efficiency and reducing operations and maintenance cost is contributing to the growth of this market.
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With the need of lighter, cheaper and more efficient system, there are four technologies which are best suited for handling new system requirement such as silicon IGBT, Silicon Carbide (SiC)-based devices, Super Junction (SJ) MOSFETs, and Gallium Nitride (GaN). The major applications of power electronics in wind turbine are for adjustable (variable) speed motor drives, power generation plants, and power transmission & distribution systems. They are used in making power modules, stack assembly, power converter. Power electronics used in wind turbine include passive components such as laminated busbars, connectors, power capacitors, power resistors and wind convertor components such as stack, power module, IGBT stacks, IGBT, IGCT, and SiC.
The rising demand of the full convertor is driving the market forward. Innovations and technological up-gradation is one of the factors contributing to the growth of the market. Companies such as Infineon has introduced copper into the module, for die attach and connections and also introduction of the silver into power modules by Semikron is driving the market forward. Competitive environment and need of cost grades are some of the challenges faced by the new players who are trying to enter into the market. China is the largest market for this industry. The change in industry over the period of past five years has made China the leading contributor. Asia Pacific including China is having quicker growth and is expected to be the key market in the near future. European nations hold the second largest share in driving the market forward followed by EMEA and South America.
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Some of the key participants in this market include ABB, AIST, AMSC, Enercon, Fairchild, Fuji Electric, GE Wind Energy, Mersen, Methode electronics, Semikron Elektronic GmbH & Co.KG, and Vestas.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years
This report is a complete study of current trends in the market, industry growth drivers, and restraints. It provides market projections for the coming years. It includes analysis of recent developments in technology, Porter's five force model analysis and detailed profiles of top industry players. The report also includes a review of micro and macro factors essential for the existing market players and new entrants along with detailed value chain analysis.
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