Multi Rotor Wind Turbine Market - Forecast (2022 - 2027)

The global Multi Rotor Wind Turbine market size is forecast to reach $12.1 billion by 2026, growing at CAGR 6.3% during the forecast period 2021-2026. Factors attributing to the market growth include a combination of improved rotor-nacelle assembly (RNA) in wind turbines, growing demand for turbines having upper hub heights as well as longer blades with larger swept areas, and others. 

Compared to conventional single rotor wind turbines, multi-rotor ones are capable of wind power generation with high energy output and minimized turbulence, aiding its market growth over time. In addition, governmental efforts towards promoting the use of sustainable renewable energy sources, investments on wind farm projects along with rising demand towards generating more power under low costs for installation and transportation can also impact its market growth. Moreover, increasing shift towards renewable sources like wind energy as well as growing research works towards optimizing wind turbine designs are set to influence its market growth in the long run.

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Report Coverage

The report based on: “Multi Rotor Wind Turbine Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Multi Rotor Wind Turbine Market Industry Outlook.
By Type: Co-planer Wind Turbine, Counter Rotating Wind Turbine, Co-Axial Wind Turbine, Others
By Axis Type: Horizontal Axis, Vertical Axis
By Installation Type: Fixed Structure, Floating Structure
By Component: Tower/Foundation, Blades, Gearbox, Generator, Rotor Nacelle Assembly (RNA), Others
By Location of Deployment: Onshore, Offshore
By Power Capacity: Less than 2MW, 2 to 5 MW, 5 to 9 MW, Above 9 MW
By Application: Power Generation, Wind Farms, Commercial, Residential, Others
By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Others), APAC (China, Japan, South Korea, India, Australia, Others), South America (Brazil, Argentina, Others), RoW (Middle East & Africa)

Key Takeaways

• Multi Rotor wind turbine with offshore location is analyzed to witness the fastest growth during the forecast period 2021-2026, owing to increasing number of wind turbine commissioning and installation agreements or contracts as well as initiatives towards meeting offshore wind capacity targets.
• APAC Multi Rotor Wind Turbine market held the largest share in 2020, attributing to rising electricity demands owing to rapid industrialization and growing transition shift towards renewable energy sources.
• Growing research works towards optimizing wind turbine designs along with increasing shift towards renewable sources like wind energy is analyzed to significantly drive the global multi rotor wind turbine market during 2021-2026.

Global Multi Rotor Wind Turbine Market Value Share, By Region, 2020 (%)



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Multi Rotor Wind Turbine Market Segment Analysis-By Location of Deployment

Offshore segment is analyzed to witness the fastest growth in the global multi rotor wind turbine with a CAGR of 7.4% during the forecast period 2021-2026. Factors including growing initiatives towards meeting up offshore wind capacity targets, rise in number of contracts or agreements related to commissioning or installation of wind turbines along with requirement of optimal power generation within low costs have been attributing to the market growth. 

Adoption of multi-rotor wind turbines within offshore locations can help in standardization of components while leading to cost reductions, reduced system loads, enhanced control and so on, aiding to its market growth overtime. According to U.S Department of Energy, the offshore wind pipeline increased by 24% with 35,324 MW capacity in 2020, in comparison to the previous year. This rise was driven by falling offshore wind prices, federal action as well as state level commitments, with growing turbine size trends exceeding 150 m average rotor diameters. 

In June 2021, Norwegian contracting giant, Aibel had revealed the development of an innovative multi turbine concept for deep water environments, designed by Wind Catching systems. This was meant to help in cutting off the offshore wind farm acreage by almost 80%, reducing production costs, with an aim of enabling offshore wind operators or developers to produce electricity at minimal costs. Such factors are further set to assist the market growth of multi rotor wind turbines in offshore locations in the long run.

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Multi Rotor Wind Turbine Market Segment Analysis- By Application

Power generation is analyzed to grow with the highest CAGR of 8.2% in the global Multi Rotor Wind Turbine market during the forecast period 2021-2026. With growing electricity demands, there is a rapid transition towards renewable energy sources like wind power to lower down operational costs associated with power generation as well as reduce adverse environmental impacts. Factors including governmental initiatives towards increasing utilization of wind energy to generate electricity along with growing investment on onshore and offshore wind turbine installation projects have attributed to its market growth. 

Rising investment towards establishment of new wind farms, growing commissioning, supply and service contracts for wind turbines, along with global efforts in lowering CO2 emission levels while reducing dependency on fossil fuels can also contribute to its market growth in the long term. . In October 2019, Researchers from Aarhus University and Durham University based in U.K, had revealed about modelling out the fluid dynamics for multi-rotor wind turbines, which concluded that individual multi rotor turbines are capable of producing energy (approximately 2% higher) in comparison to single rotor turbine models. 

According to 2019 Future of Wind report from International Renewable Energy Agency (IRENA), onshore and offshore wind will be generating about more than one-third (around 35%) of total global electricity needs, and is set to emerge as one of the prominent electricity generation source by the year 2050. Such factors are further set to drive the market forward towards multi rotor wind turbines for serving power generation requirements in the coming time.

Multi Rotor Wind Turbine Market Segment Analysis- By Geography

APAC had dominated the global multi rotor wind turbine market with a share of 34% in 2020, and is analyzed to have a significant growth during the forecast period 2021-2026. Factors including growing industrial activities raising electricity requirements, rapid urbanization, along with increasing shift towards renewable energy sources due to reduce dependency on scarce fossil fuels have been attributed to its market growth. 

In addition, with land abundance for onshore wind potential, governmental efforts towards meeting zero or reduced CO2 emission targets, as well as investment on wind farm construction projects overtime can also aid the market growth across the region in the long run. As per the 2019 Global Wind Energy Council report, China continued to be the overall leader for new offshore wind installations by adding more than 2.3 GW capacities in 2019. According to IRENA, APAC is anticipated to dominate the wind energy sector with its contribution of more than 50% out of global onshore wind power installations by the year 2050. Such factors are further set to fuel the market growth of multi rotor wind turbines attributing to its high performance or power generation capacity, lightweight component design, easy transportation, low operational costs and many others in the coming years.

Multi Rotor Wind Turbine Market Drivers

Increasing shift towards renewable sources like wind energy will positively impact the market growth of multi-rotor wind turbines

Increasing shift towards renewable sources like wind energy can be considered as a major factor driving the market growth of multi rotor wind turbines. With efforts towards raising wind power generation capacity targets, reducing adverse global warming or CO2 emissions due to fossil fuels, along with investment on installation of onshore and offshore wind turbines have attributed to its market growth. 

Increasing industrialization, governmental initiatives towards promoting wind energy, along with rise in establishment of new wind farms can also assist the demand for multi rotor wind turbines overtime, due to various advantages including less setup or installation costs, maximized power output, less turbulence, withstanding stronger winds with its robust structures, and many others. According to Global Wind Energy council, wind industry is expected to contribute with more than 348 GW installations, over the next five years, by bringing the global wind power capacity nearly to 1000 GW by 2024 end, compared to 54% increase from 2019. As per Ministry of New & Renewable Energy (MNRE), India is considered as the fourth highest wind installed capacity globally, with total installed capacity of 39.25 GW as of March 2021, thus generating around 60.149 billion units during 2020-2021. Such factors are set to further fuel the market growth of multi rotor wind turbines in the long run.
Growing research works towards optimizing wind turbine designs drives its market forward

Growing research works towards optimizing wind turbine designs act as a major factor boosting its market growth. The market growth is attributed to varied research works or study regarding component or structure designing for multi rotor wind turbines, capable of providing low cost solution for generating maximum power. Adoption of multi rotor wind turbines have been gaining wide popularity under low wind velocity conditions, as it helps in providing higher power output through simultaneous operation of multiple rotors compared to single rotor ones. 

Designing wind turbines with benefits including lower maintenance, less weight, high blade strength, longevity and others have emerged as a prime reason for growing number of research works overtime. In August 2019, a research work was published by the International Journal of Engineering and Advanced Technology (IJEAT), which presented the study regarding the design as well as fabrication of multi-rotor wind turbines. 

This study concluded that the multi rotor design can act as a beneficial option for increasing power production within locations, having space restrictions along with its key advantage which shows that the rotors being added the torque gets multiplied, without speed variations, enabling a safer wind turbine suitable for residential applications. Such factors are set to assist the market growth of multi rotor wind turbines in the long run.

Multi Rotor Wind Turbine Market Challenges

Complexities related to designing or installation hindering its market growth

The complexities related to designing or installation of multi-rotor wind turbine architectures can be considered as one of the major factors restraining its market growth. Designing of tower top structures alongside utilization of high amount of materials including steel to support frames, with the multiple rotor assembly, requires skilled labour to construct a multi-rotor turbine. 

Due to the adoption of smaller components including blades, frames, bearings, and others, there is comparatively increased complexity for the overall system manufacturing. Additionally, in order to reduce the overall cost of the system, engineers need to use components which can make it more lightweight as well as efficient, in comparison to conventional turbines, thereby causing longer time intervals for completion. Such wind turbines need a complex structural arrangement towards offering high power output levels, thus adversely impacting its market growth.

Multi Rotor Wind Turbine Market Landscape

Product launches, acquisitions, and R&D activities are key strategies adopted by players in the Multi Rotor Wind Turbine market. 

The Multi Rotor Wind Turbine top 10 companies include:

• Siemens Gamesa
• MHI Vestas Offshore Wind
• GE Renewable Energy
• Enercon GmbH
• Nordex SE
• Senvion S.A.
• Xinjiang Goldwind Science & Technology
• Sinovel Wind Group
• Suzlon Energy Limited
• Fortis Wind Energy

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Acquisitions/Technology Launches/Partnerships

• In May 2020, Siemens Gamesa announced the launch of its largest wind turbine, with 14 MW capacity and 222 meter rotor diameter, designed for offshore wind farms.
• In April 2019, MHI Vestas Offshore Wind had revealed about the confirmation of an order under which five V164-9.5 MW turbines will be provided for the Kincardine floating wind project, Scotland. These wind turbines with installations in 2020, will include 10-year service as well as maintenance agreement.

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