Wind LiDAR Market

This study intends to analyse diverse aspects of the global wind LiDAR market. The insights offered in this report are expected to aid in market growth examination over the forecast timeline.

Market Analysis in Brief

The increasing need for effective weather analysis has become of paramount importance, most of all to the agriculture sector for proper crop cultivation applications. Wind LiDAR has been found to offer effective analysis for weather forecasting and is gradually receiving more attention by respective governments and authorities. As greater focus is now being given to the use of sustainable solutions due to environmental concerns, the wind LiDAR market is expected to experience a steady uptick in the adoption of this technology to meet ever-growing demand is slated to have a positive influence on the further progression of this global market. While there are a few downsides to the adoption and use of this technology, the benefits far outweigh the negatives.

Key Report Findings

• The wind LiDAR market is expected to be valued at over US$700 Mn by 2026
• Germany aims to achieve a 65% reliance on wind energy resources for electricity
• Asia Pacific to index the highest rate of growth over the forecast period
• As per the GWEC and the DTU, the Cumulative Capacity of Wind LiDAR systems exceeded 3.3GW in 2019
• An estimated 400 wind LiDAR units were installed in 2019 alone

Growth Drivers

Increasing Weather Prediction Applications

In recent years, weather prediction and analysis has gradually been given more importance. Weather forecasting and recording is essential to gain a more precise picture of possible extreme events. Moreover, the need for weather forecasting in the agricultural landscape is still immensely instrumental in driving the demand for wind LiDAR technology as it lends an analysis of the nature of the weather by assessing wind speed and direction. Weather plays a key role in agriculture for crop cultivation.

According to the Intergovernmental Panel on Climate Change (IPCC), that are several risks associated with food security and agriculture owing to haphazard weather change. It becomes imperative to gain clarity on upcoming weather events with the use of advanced warning systems. This element has fuelled the use of wind measurement systems that generate information on wind speed, turbulence, and direction, such as wind LiDAR, thus bolstering the wind LiDAR market growth in the process.

Perceived Benefits, and Implementation Across Applications

Wind LiDAR has gained significant traction as compared to other systems for the past couple of years. Benefits provided by a wind LiDAR system have triggered an increase in its use across a multitude of applications. Wind LiDAR systems can carry out long range measurement covering the entire wind turbine rotor. Moreover, they are easy to install, and these systems can be used repeatedly without functional hindrances. The set-up of wind LiDAR takes less time and could be used immediately after installation to gain real-time wind data.

In addition, wind LiDAR can work in extreme environment conditions and is environment adaptive. They can also work in frozen weather conditions or even under snow making it a crucial tool in weather forecasting. Furthermore, wind LiDAR is development-friendly, uses less land, and involves less construction work. That said, perceived functional, structural, and dimensional advantages of these systems are likely to fuel its adoption across applications such as wind resource assessment, wind power prediction and power curve testing, in turn elevating growth prospects for wind LiDAR industry.

Reliance on Wind Energy, and Increasing Number of Wind Farms

Stricter regulations and norms concerning environmental protection and the need to lower carbon emissions and greenhouse gas (GHG) emissions have resulted in a major shift towards the use of renewable energy sources. Developed as well as emerging nations are focusing on harnessing renewable sources of energy to generate power. Wind is one such renewable natural energy resource that is being used to generate electricity. Increasing reliance on wind energy for electricity generation has triggered a considerable development of wind farms, in turn fuelling the demand for wind LiDAR technology.

For instance, as per the Global Wind Energy Council (GWEC), about 17GW was added to the existing wind capacity in the United States in 2020, and this is expected to increase further. Likewise, as per WindEurope, approximately 27% of electricity supply in Germany is generated through wind energy and the country seeks to increase this figure to about 65% by end of 2030. This is expected to lead to greater investments in the wind energy sector, thus enabling greater support for wind farm development initiatives. That said, with this increase in wind farms, the demand for wind LiDAR is also expected to grow, thus contributing toward the growth of wind LiDAR market.

Growth Challenges

High Initial Investments, Technical Limitations, and Intense Competition from Alternatives

The initial investment needed for wind LiDAR technology is high compared to other traditional wind measurement alternatives. This is an element that could deter potential customers. On the other hand, wind LiDAR relies on atmospheric conditions to function effectively, thus limiting its accuracy and reliability in certain weather conditions. Additionally, while wind LiDAR has many advantages over traditional wind measurement methods, there are other technologies such as Sonic Detection and Ranging (SODAR), and MET towers that can be used for wind measurement.

Growth Opportunities Across Regions

Asia Pacific to Exhibit High Potential

Developing nations in the Asia Pacific are poised to show high growth potential in the wind LiDAR market. This is primarily owed to an increasing inclination towards the use of wind energy and wind capacity installations. Emerging countries such as China, and India are likely to experience lucrative growth opportunities. According to the Global Wind Energy Council (GWEC), China is expected to remain at the vanguard apropos to wind capacity installations. In 2020, new wind capacity installations of over 285GW were carried out in China as a step towards achieving their 2060 carbon neutrality target. Likewise, wind capacity installations are increasing in India with the target of deploying around 30GW of wind energy by the end of 2030. This factor has resulted in an increasing number of wind farms in the country, thus creating potential growth opportunities for the wind LiDAR market in the coming years.

Key Market Players – Wind LiDAR Landscape

Some key companies in the global wind LiDAR market include Leosphere, Windar Photonics, ZephIR, Lockheed Martin, Vaisala, SgurrEnergy Pvt Ltd., and Mitsubishi Electric. To gain a competitive edge, various established industry players are now more focused on new product launches, partnerships, collaborations, acquisitions, and alliances.

Recent Notable Developments:

• In 2021, Leosphere, a Vaisala Company, introduced WindCube Scan Dual LiDAR. This offering lends a comprehensive analysis of the wind resource profile by carrying out continual observations on offshore locations from several positions
  
  
• In 2022, NRG Systems added ZX TM to its ZX LiDAR portfolio. ZX TM, a nacelle mounted wind LiDAR, offers a complete measurement of veer and shear wind profile across the turbine

Regional Classification of the Global Wind LiDAR Market is Listed Below:

North America

• U.S.
• Canada

Europe

• Germany
• France
• Spain
• U.K.
• Italy
• Russia
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

 Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East and Africa

• GCC
• South Africa
• Rest of Middle East & Africa

*Regions and countries are subject to change based on data availability.

Key Elements Included In The Study: Global Wind LiDAR Market

• Wind LiDAR Market by Product/Technology/Grade, Application/End-user, and Region
• Executive Summary (Opportunity Analysis and Key Trends)
• Historical Market Size and Estimates, Value, 2019 - 2022
• Market Value at Regional and Country Level, 2023 - 2030
• Market Dynamics and Economic Overview
• Market Size in Value, Growth Rates, and Forecast Figures, 2023 - 2030
• Competitive Intelligence with Financials, Key Developments, and Portfolio of Leading Companies 
• Regional and Product/Grade/Application/End-user Price Trends Analysis
• Value Chain and Five Force’s Analysis
• Regional/Sub-region/Country Market Size and Trend Analysis
• Company Market Share Analysis and Key Player Profiles

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