BURLINGAME, April 5, 2024 (Globe Newswire) — The global vortex turbine market was valued at $102.6 million in 2023, growing at a CAGR of 13.1% from 2024 to 2031, and growing at a CAGR of 13.1% from 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. It is expected to reach $242.5 million by then. Vortex turbines harness the kinetic energy of vortices or whirlpools to generate electricity in a cost-effective and environmentally friendly manner. They are increasingly being employed in small-scale power generation applications such as rivers, oceans, and industrial waste streams.
Request a sample report: https://www.coherentmarketinsights.com/insight/request-sample/6452
Market trend:
The vortex turbine market is expected to witness high growth due to increasing demand for renewable energy sources. Vortex turbines are innovative wind turbines that do not require blades to generate electricity, making them more cost-effective and environmentally friendly compared to traditional wind turbines. Additionally, the increased focus on reducing carbon emissions and transitioning to clean energy sources is expected to increase the demand for vortex turbines in the coming years.
Scope of the Vortex Turbine Market Report
|
Report scope |
detail |
|
Market revenue in 2023 |
$102.6 million |
|
Estimates until 2031 |
$242.5 million |
|
growth rate |
Expected to grow at a CAGR of 13.1% |
|
historical data |
2018-2022 |
|
Forecast period |
2024-2031 |
|
prediction unit |
Value (USD million/USD billion) |
|
Report scope |
Revenue forecast, competitive environment, growth factors, trends |
|
Target segment |
By application, capacity, and design |
|
Target area |
North America, Europe, Asia Pacific, and other regions |
|
The driving force behind growth |
• Increased adoption of renewable energy sources • Increased research and development and innovation. |
|
Constraints and challenges |
• High cost of capital • Strong grid infrastructure requirements • Existing alternatives |
Market trend:
One of the key trends driving the vortex turbine market is the transition to sustainable energy solutions. Governments and organizations around the world are increasing investment in renewable energy sources to reduce carbon emissions and combat climate change. Vortex turbines offer a unique and efficient alternative to traditional wind turbines, making them a popular choice for renewable energy projects. Another trend shaping the market is the increasing adoption of decentralized energy generation systems. Vortex turbines are ideal for small-scale applications and can be easily integrated into existing infrastructure, making them ideal for distributed energy generation projects.
Purchase this complete business research report: https://www.coherentmarketinsights.com/insight/buy-now/6452
The residential application segment is expected to dominate the Vortex Turbine market during the forecast period. With increasing focus on renewable energy sources, more residential properties are considering installing vortex turbines as a sustainable energy solution. These turbines can efficiently generate electricity from wind energy, making them an attractive option for homeowners looking to reduce their carbon footprint.
Horizontal axis vortex turbines are expected to dominate the design segment of the market. These turbines have the advantage of capturing wind from all directions, making them more efficient and reliable than other designs. As a result, it is preferred by industrial and commercial facilities seeking a consistent renewable energy source. The versatility and efficiency of horizontal axis vortex turbines will increase their demand in the market.
recent trends:
July 2023 Vortex Bladeless is developing a cutting-edge wind power system that does not require traditional components such as shafts, gears, or blades to function.
In November 2020, Green Energy Solution's small wind turbine series Zephyr was made available for home use for the first time.
Key points in the market:
The vortex turbine market is anticipated to witness a CAGR of 13.1% during the forecast period 2023-2030 due to rising demand for renewable energy solutions.
As more and more homeowners adopt vortex turbines for sustainable energy generation, the residential segment based on application is expected to maintain its dominant position.
In terms of design, horizontal axis vortex turbines are predicted to lead the market thanks to their flexibility and efficiency.
Asia-Pacific is expected to dominate the market regionally, with major players such as Turbo Tech, Vortex Energy Solutions, and Siemens Gamesa Renewable Energy leading the way in innovation and product development. The vortex turbine market is expected to witness significant growth and opportunities in the coming years.
Customize this report by 10%: https://www.coherentmarketinsights.com/insight/request-customization/6452
Detailed segmentation:
By application:
-
Residential
-
commercial
-
industrial
-
Transportation facilities
-
public works
-
others
By capacity:
-
Less than 50KW
-
50-100KW
-
100-250KW
-
250-500KW
-
500KW～1MW
-
1~2MW
-
2MW or more
Intentionally:
-
horizontal axis vortex turbine
-
vertical axis vortex turbine
-
vibrating vortex turbine
-
Other designs
By region:
-
North America
-
latin america
-
Brazil
-
Mexico
-
Rest of Latin America
-
-
Europe
-
Germany
-
England
-
Spain
-
France
-
Italy
-
Russia
-
rest of europe
-
-
Asia Pacific
-
China
-
India
-
Japan
-
Australia
-
South Korea
-
Rest of Asia Pacific
-
-
middle east and africa
View consistent market insights Industrial automation and machinery Research report.
Related reports:
EMEA small wind turbine market
Energy harvesting system market
light fidelity market
About us:
Coherent Market Insights is a global market intelligence and consulting organization providing syndicated research reports, customized research reports, and consulting services. We deliver actionable insights and authentic reports in a variety of domains, including Aerospace & Defense, Agriculture, Food & Beverages, Automotive, Chemicals & Materials, an exhaustive list of virtually all domains and subdomains. is known. We create value for our clients through reliable and accurate reporting. We are also committed to playing a leading role in providing insights in a variety of areas post-COVID-19, and continue to deliver measurable and sustainable outcomes for our clients.
Please follow us: linkedin | twitter
CONTACT: Mr. Shah Senior Client Partner – Business Development Coherent Market Insights Phone: US: +1-206-701-6702 UK: +44-020-8133-4027 Japan: +81-050-5539-1737 India: +91-848-285-0837 Email: sales@coherentmarketinsights.com Website: https://www.coherentmarketinsights.com
