Vortex
turbines also known as vortex induced vibration (VIV) turbines or kinetic
hydropower turbines utilize natural vortex shedding principles to generate
electricity from fluid flows such as air, water, and liquids with no moving
parts. Vortex turbines provide advantages such as lower maintenance costs than
traditional turbines, longer operational life, generation of electricity from
low velocity flows, and easy installation in confined spaces.
Market key trends:
The
increased adoption of renewable energy resources across the globe has been a
major trend driving the growth of the vortex turbine market. Vortex turbines provide
an ideal solution for generating electricity from renewable resources such as
hydrokinetic and wind energy as they have no moving parts and can generate
power from low velocity fluid flows. They are well-suited for deployment in
rivers, offshore environments, and areas with low wind speeds. The growing
focus on the development of small-scale and distributed renewable energy
systems is also expected to boost the demand for vortex turbines over the
forecast period.
Segment Analysis
The
global vortex turbine market is segmented by type, application, and geography.
By type, the market is segmented into square frame vortex turbine, round cage
vortex turbine, and others. The square frame vortex turbine segment dominated
the market with a share of over 35% in 2023 owing to its advantage of high
kinetic energy utilization rate compared to other types.
Key Takeaways
The Global
Vortex Turbine Market Size is expected to witness high growth. The market size for
2023 is US$ 102.6 Mn and is expected
to reach US$ 222.7 Mn by 2030,
growing at a CAGR of 21%.
Regional analysis
North
America accounted for the largest share of around 30% of the global vortex
turbine market in 2023 owing to the presence of many key players and advanced
manufacturing facilities in the region. Asia Pacific is expected to witness the
fastest growth during the forecast period owing to growing industrialization
and increasing investments in renewable energy projects in countries like China
and India.
Key players
Key
players operating in the Vortex Turbine Market are FUJIFILM Business Innovation
Corp., Lumileds Holding BV, Heraeus Holding GmbH, Koninklijke Philips NV,
CRYSTAL IS Inc. (Asahi Kasei Corporation), Nordson Corporation, EPIGAP Optronic
GmbH, Honle UV America Inc. (Honle Group), Semileds Corporation, Seoul Viosys
Co. Ltd., and Nichia Corporation. FUJIFILM Business Innovation Corp. Dominates
the market with over 15% share owing to its wide product portfolio and global
presence.
https://www.insightprobing.com/vortex-turbine-market-size-and-trends-analysis/
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