Wind Tree: Introduction
- Wind tree, as the name suggests, is a wind turbine but it appears like a tree. It is an unconventional wind turbine design concept that overcomes the flaws of conventional wind turbines, as they are very noisy in operation, significantly large in shape, and are unpleasant for birds as well.
- Wind trees stand about eight meters high, and they consist of 63 aeroleaves. These aeroleaves are customized to house tiny blades that are responsible for generating electricity even in the slightest wind speeds, which can be as low as 4.5mph (7kmph), irrespective of the direction of the wind.
- The aeroleaves of the wind tree can be considered as small propellers, which can be turned on by light breeze instead of the larger wind speeds that are required in the larger blade conventional turbines. Additionally, wind trees are comparatively tiny in size and are noiseless, which makes them pleasant & environment friendly.
- Wind trees can be considered as an asset that is capable of producing green energy. They are able to generate electricity in a consistent manner, which eventually makes them ideal for power generation for outdoor lightning & smaller residential buildings.
Key Drivers of Global Wind Tree Market
- The world is shifting toward the use renewable energy sources in order to achieve development in an environmentally sustainable manner. Consequently, investments in the renewable energy sector have increased significantly. This, in turn, is projected to augment the demand for wind tree in the near future.
- Ambitious national targets, rapid technological advancements, and international agreements have prompted countries across the world to turn toward the renewable energy sector and prompted them to look for additional power generation alternatives. Thus, the beneficial use of renewable energy is expected to augment the global wind tree market between 2020 and 2030.
- Wind trees provide certain benefits while respecting esthetics and urban development strategies. They are available in various colors and have provision for charging portable devices, laptops, and cell phones, which in turn is estimated to boost the adoption of wind tree in offices, residential & commercial buildings globally.
Restraints of Global Wind Tree Market
- The cost of wind trees is significantly high. For instance, it is estimated to cost US$ 60,000, which in turn is likely to hamper the wind tree market during the forecast period, unless their price reduces in the near future.
Europe to Hold Major Share of Global Wind Tree Market
- Based on region, the global wind tree market can be classified into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa
- Europe is expected to be a key market for wind tree, globally, from 2020 to 2030. High investments in renewable energy generation and government subsidies are likely to drive the market in the region between 2020 and 2030.
- Europe is also considered to be a pioneer in renewable wind energy generation and is home to a majority of development facilities. This offers significant opportunities to consumers in Europe to employ wind trees for power generation, which in turn is projected to drive the market in the region.
- The wind tree market in Middle East & Africa is estimated to expand at a significant rate during the forecast period, owing to extensive attempts being made by the governments to reduce the use of fossil fuel energy. Government initiatives for pollution-free and clean energy are also expected to drive the wind tree market in the region during the forecast period.
- On the other hand, the size of the U.S. wind tree market is expected to double by the end of the forecast period. Renewable energy projects in the U.S. are likely to benefit from multi-year federal tax incentives and several state-level, favorable policies for renewable energy generation in the next few years.
COVID-19 Impact Analysis
- The global economy has been hampered by the measures put in place to contain the COVID-19 pandemic. The wind power industry is estimated to face immediate challenges due to the COVID-19 pandemic such as difficulty in adhering to the social distancing norms, shortage of manpower, lack of demand & supply, and discerning expenditure by end-users.
- Key players operating in the market must ensure adequate liquidity to sustain in the market. This would help companies recover sooner from the COVID-19 crisis.