Global Anemometer Market Is Estimated To Witness High Growth Owing To Increasing Support For Weather Forecasting And Opportunities In Renewable Energy Sector
The global Anemometer Market is estimated to be valued at US$ 52.03 Bn in 2024, exhibiting CAGR of 6.7% over the forecast period (2024-2031). The market is witnessing growth owing to increasing demand for accurate weather forecasting and growing emphasis on the renewable energy sector. Furthermore, rising adoption of anemometer in the agriculture, aviation, and construction industries is also providing impetus to the market growth.
Market Dynamics:
Accurate weather forecasting plays a crucial role in maximizing crop yields and minimizing losses in agriculture sector. Anemometers are extensively used by meteorological departments and weather monitoring agencies to record wind speed and direction data. This helps in generating precise weather forecasts which benefits various end-use industries. Furthermore, the growing adoption of renewable energy sources such as wind and solar is fueling the demand for anemometers. In wind turbine plants, anemometers installed atop windmills continuously monitor wind speed and transmit real-time data. This enables efficient operations and optimization of energy output from wind turbines. Rising investments in setting up new wind farms as well as expanding existing renewable capacity is surging the demand for anemometers worldwide.
Global Anemometer Market Drivers
Increasing Demand from Renewable Energy Sector
The renewable energy sector is growing rapidly globally due to rising concerns over climate change and environmental sustainability. Anemometers play a crucial role in wind resource assessment and turbine performance monitoring in the wind energy industry. With heavy investments going into the development of wind farms, the demand for anemometers is increasing significantly to measure wind speed and direction data accurately. Various government policies and incentives supporting renewable energy adoption are also fueling market growth.
Stringent Regulations Regarding Workplace Safety
Workplace safety regulations across industries have become very stringent in recent years. Regulators are imposing high fines and penalties for non-compliance. Anemometers help monitor environmental conditions in hazardous work environments like chemical plants, refineries, construction sites, etc. to ensure worker safety. They are used to check ventilation and air flows as per occupational exposure limits. Tougher safety laws are driving more organizations to deploy anemometer solutions for regulatory compliance and risk mitigation.
Global Anemometer Market Restraints
Availability of Low-Cost Alternatives
Low-cost anemometer options like windsocks, weather vanes, etc. are commonly used in general weather monitoring applications instead of specialized anemometer devices. While not as accurate, they provide approximate wind speed readings at a fraction of the price. This poses a challenge for established anemometer vendors to convince buyers of the need for higher precision instruments. It restrains the overall market demand to some extent.
Requirement of Regular Calibration and Maintenance
Anemometers need to be routinely calibrated and maintained to ensure measurement accuracy over time. This increases the total cost of ownership. The calibration process also requires specialized equipment and skills that may not be locally available. The additional expenditures deter some potential customers, especially in price-sensitive developing markets. It acts as a prohibitive factor restricting swift market adoption.
Global Anemometer Market Opportunities
Integration with IoT Platforms
The integration of anemometers with industrial IoT platforms is opening up new growth avenues. Remote monitoring of wind data through WiFi/Bluetooth connectivity and cloud-based analytics are helpful for predictive maintenance and performance optimization. It improves efficiency while reducing servicing costs. Leading vendors are focusing on developing smart, network-connected anemometer solutions to tap the lucrative IoT opportunity.
Expansion in New Application Areas
Anemometers are finding increasing use beyond the traditional wind energy and industrial verticals. Emerging applications include weather monitoring at airports, anemophily research in forestry/agriculture, anemotaxis studies in biology, etc. Vendors can leverage the rising demand from such niche application areas through specialized product designs and customization. It presents a sizable market expansion potential in the coming years.
Link - https://www.coherentmarketinsights.com/market-insight/anemometer-market-1061
Key Developments:
- In December 2022, LI-COR Environmental, a prominent provider of gas analysis and environmental measurement instruments, acquired Anemoment LLC, a technology innovator known for its lightweight and energy-efficient TriSonica sonic anemometers. This strategic move grants LI-COR Environmental access to Anemoment LLC's innovative technology and expertise, while also adding core products that complement LI-COR Environmental’s existing portfolio of environmental monitoring solutions. By expanding into the sonic anemometer market, this acquisition strengthens LI-COR Environmental's long-term growth and stability, and ensures the continued development and global availability of Anemoment LLC's cutting-edge wind measurement technologies to customers.
- In March 2022, Scarlet Tech, a pioneer in wireless anemometer technology, and Sato Shouji Inc., a renowned Japan-based firm offering professional instruments, forged a strategic alliance to introduce Scarlet Tech's wireless anemometer series to the Japanese market. This partnership combines Scarlet Tech's advanced knowledge and proficiency in wireless anemometer technology with Sato Shouji's well-established sales and marketing infrastructure in Japan, enabling the seamless integration and distribution of Scarlet Tech's innovative wind measurement solutions to customers across the region.
- In August 2020, Anemoment, a company specializing in meteorological instrument design, secured a contract to install its cutting-edge TriSonica Mini Wind and Weather Sensors around Wrigley Field. These compact and lightweight 3D ultrasonic anemometers were deployed to collect comprehensive data on wind patterns and weather conditions in the area. The data collected by the TriSonica sensors was then consolidated by Anemoment's partner, Weather Applied Metrics, and shared with Marquee Sports to enhance their understanding of the local microclimate and support their operations.
Key Players:
Ammonit Measurement, Aeroqual, CEM Corporation, Delta Ohm Benelux, FT Technologies, Fortive Corporation, Gill Instruments, Horiba Ltd., IED Electronics, Kusam - Meco, OMEGA Engineering, PCE Holding GmbH, Servomex, Siemens AG, and Teledyne Technologies Inc.
