Airborne Wind Energy Market is forecast to reach $180 million by 2025, growing at a CAGR 12.6% from 2020 to 2025. Airborne wind energy (AWE) is a technique used by rotors or turbines to generate electricity from wind currents supported in the air without any tower being mounted on the ground. Compared to conventional wind turbines, airborne wind energy is a unique concept for harvesting wind energy with lower set-up and operating costs. Scientists have been encouraged to search for new ways to generate power through non-conventional energy sources, constantly increasing the need for clean and endless energy sources. However, the use of such non-conventional energy sources involves problems such as the power source’s control and continuity. In order to overcome the aforementioned issues, airborne wind energy is considered a superior alternative for power generation. Demand for airborne wind energy is expected to accelerate at a rapid pace in the years to come. Several major European countries are involved in program such as Roadmap2050, developed to reduce the carbon percentage. In order to achieve the goal, governments across different countries are promoting methods such as airborne wind energy to produce clean energy. Airborne wind energy systems offer substantial advantages over conventional wind turbines, such as easy control of the energy harvester, nearly uninterrupted energy supply and less risk of damage due to adverse weather conditions. Because of the merits offered by airborne wind energy (AWE) systems, it is expected that the market will grow at a significant rate over the next few years.
Airborne Wind Energy Market Segment Analysis – By Type
During the forecast period lifting balloon segment is expected to grow at a CAGR of 16.5%. In this variant, to convert the wind energy into mechanical motion, a turbine supported by a large lifting balloon filled with inert gas is used. To harness wind energy, a variety of balloons are available with different specifications and shapes. In order to achieve improved efficiency and productivity, airborne wind energy (AWE) suppliers have consistently worked towards improving the design of balloons and accessories. The market for balloon-type airborne wind energy (AWE) systems is expected to grow steadily throughout the forecast period.
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Airborne Wind Energy Market Segment Analysis – By Application
Offshore application is projected to grow during the forecast period at the highest CAGR. The increasing size of wind turbines has helped to reduce wind energy costs to the point that, in some areas, they are economically competitive with fossil-fuel alternatives. New research published in the journal Nature Energy suggests that there is an opportunity for offshore turbines to grow, offering the promise that this already mature energy technology will reduce costs further in the future. On the surface of the water, offshore wind farms have helped set up wind energy harvesting farms. Offshore turbines will continue to grow, with turbines in the 6-8 MW range expected to be used by most projects planned today. This is mainly because of the simpler logistics of transporting massive components by sea.
Airborne Wind Energy Market Segment Analysis – By Geography
Europe is expected to dominate the global Airborne Wind Energy market with a share of more than 42%. A moderate phase is expected to be observed in the growth of the Europe Airborne Wind Energy (AWE) Systems Market, with various efforts initiated by governments across the region by framing energy policies that encourage the movement towards alternative and clean energy solutions. The region has moved towards the adoption of energy sources with lower carbon emissions, taking into account the effects of climate change and the environment. Over the past few years, Europe has been importing around 53-55% of its energy for consumption. Energy efficiency improvements, including the use of renewable energy sources, such as hydro and wind power, are expected to drive market growth over the forecast period.
Airborne Wind Energy Market Drivers
Low capital costs and easy transportability
Airborne wind energy is disruptive, because it is much less damaging and intrusive than the traditional wind turbine. Indeed, with its uniquely low capital costs and easy transportability, it is capable of much more. This means that it is more than a substitute: it is intended to create new markets, including the integration of modern forms of standby generators that comply with the impending emissions directives. Moreover, in order to reduce carbon emissions and their adverse impact on the environment, many government bodies have introduced strict policies and regulations. These are some of the notable factors contributing to the growth of the global market for airborne wind energy (AWE).
Growing awareness related to climate change
Increasing awareness of climate change and environmental degradation is encouraging many manufacturers to implement sustainable energy strategies and invest heavily in environmentally friendly power generation technologies, which are further projected to foster sustainable development among nations around the globe. With renewables accounting for nearly 45% of the world’s electricity production growth, the IEA estimated an accelerated 7% (almost 450 TWh) growth in renewable energy generation in 2018 compared to an annual average growth of 6% since 2010. Around 40% of the growth in renewable electricity production in China, 26% in Europe, 7% in the United States, 6% in India and 21% of the growth in the rest of the world was recorded during the period 2017-18. Throughout the forecast period, the increasing number of initiatives to achieve cleaner energy goals is estimated to have a positive impact on the growth of the global Airborne Wind Energy (AWE) market.
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Airborne Wind Energy Market Challenges
Problems such as power source control and continuity
The use of such non-conventional energy sources involves problems such as power source control and continuity. Bad weather, in the form of thunder and lightning strikes, poses a very serious risk of any airborne device being destroyed. No power is generated if, during bad weather, the device is retracted.
Airborne Wind Energy Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in Airborne Wind Energy Market. Airborne Wind Energy Market is expected to be dominated by major companies such as Ampyx Power, E-Kite Netherlands BV, EnerKite GmbH, Altaeros Energies, eWind Solutions, Kite Power Solutions, Ltd., Kite Gen Research, Makani Power, SkySails GmbH & Co. KG, Windlift LLC, Twingtec AG, Omnidea, Lda, Kitenergy S.r.l., kPower LLC, KiteMill, Others
In Sep 2019, For the Haramsfjellet wind project on the island of Haramsøya in western Norway, Vestas received a 34 MW order. Vestas has developed a solution to meet the wind conditions of the site, including eight V136-4.2 MW turbines and a long-term service contract to optimise the lifetime of the project’s energy production in a high-wind location. With a robust design for tough wind sites, the turbine is well-suited to the difficult climatic conditions commonly found on the western coast of Norway.
In June 2019, GE announced that three new grid analytics are available, combining domain expertise with artificial intelligence (AI) and machine learning (ML) to address pressing challenges in the operation of electric grids. In order to help achieve operational efficiency objectives, analytics use data from across transmission and distribution networks.
Significant advantages over conventional wind turbines are offered by airborne wind energy systems, such as easy control of the energy harvester, nearly uninterrupted energy supply and less risk of damage due to adverse weather conditions. Because of the merits of airborne wind energy (AWE) systems, the market is expected to grow at a substantial rate over the next few years.
The growth of the European Airborne Wind Energy (AWE) Systems Market is expected to be in a moderate phase, with various efforts initiated by governments across the region by framing energy policies that encourage the movement towards alternative and clean energy solutions.
Because airborne wind energy is much less damaging and intrusive than traditional wind turbines, it is disruptive. Indeed, it is capable of much more, with its uniquely low capital costs and ease of transportation.
Increasing awareness of climate change and environmental degradation is promoting the implementation of sustainable energy strategies by many manufacturers and investing heavily in environmentally friendly power generation technologies that are further projected to promote sustainable development among countries across the globe.
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