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Drones are also known as Unmanned Aerial Vehicles (UAVs). These are widely used in wind and solar industries and can help support a greener future, as they have the capacity to generate electricity by themselves.
Renewable drones are at present used in aerial inspection and survey and are transforming inspections at various locations around the world. Inspection with renewable drones helps eliminate the need for inspection personnel to work at heights. It also lessens maintenance time, while identifying if a repair needs to take place immediately, or if it can be safely delayed.
Also these are used for line-of-sight applications, to detect ocean-going ships, to inspect offshore platforms and refineries, monitor power lines, and solar panels.
The global renewable drones market is expected to grow at a healthy CAGR in the upcoming years.
The growth of this market is attributed towards major pertaining factors including; the increasing adoption of drones for reducing cost of inspection operation, the worldwide growing focus on asset optimization, the increasing construction of solar and wind farms, rise in concerns about the environment and the global increase in usage of clean energy substitutes etc.
Moreover, renewable drones are immensely cheaper than a manned crew. This enables wind farms to carry out wind turbine drone inspections with greater consistency to keep operations running at smoothly over time. This is anticipated to propel the demand for renewable drones soon or later.
Furthermore, factors such as technological developments in software for drone data analytics, rapid development of renewable plants, ambitious national targets, increasing technological advancements, and international agreements which have prompted countries across the world to turn towards the renewable energy sector and expand their power infrastructure will further help in boosting the growth of the market.
However, legal regulations for drone operations and the lack of skilled personnel in this field are factors that are hampering the growth of the market.
More importantly, in 2021, the renewable energy capacity is expected to surge with resumption of projects that were delayed as a result of the COVID-19 outbreak. Adoption of drones for inspections in solar and wind farms along with favorable government policies for increasing renewable energy capacity are anticipated to reduce risks associated with hazardous labor and help in boosting the production and improving the economic conditions of the nations worldwide.
RENEWABLE DRONES MARKET SEGMENTATION:
By Drone Type:
The Asia Pacific region is anticipated to be the largest and the fastest growing regional market for renewable drones in the coming years. The growth in the region can be attributed to the increasing high demand for electricity due to rapid surge in urbanization, industrialization, and population growth, the scaling up of economic growth of emerging regions leading to an increased demand for power, the growing number of investments for renewable energy generation as a result of fall down in prices of solar panels, and increasing government subsidies for upgradation of the renewable energy sector etc along with various other associated factors. The major contributors in the region are India, Japan and China with countries such as Australia, South Korea and others also contributing at a significant level.
The North American region holds a significant share in the renewable drones market and is expected to double its size in the next 5 years. This is due to the growing number of renewable energy projects in countries like the U.S in the region, the formulation of multi-year federal tax incentives, several state-level favorable policies for solar energy in the region and the increasing number of key market players in the region etc. The U.S is the major contributor in the region.
The European region is to hold a prominent share in the renewable drones market and is expected to witness massive growth in the forthcoming years owing to the EU countries aim to increase the 20% renewable overall energy in 2020 to 27% by 2030, the estimated rise in the net renewable electricity generation projected to rise to 37%, 43%, and 53% by 2020, 2030, and 2050 and the increasing presence and establishment of bases of key market players etc. The major contributors in the region are The U.K and the Germany.
The Middle East & Africa region holds a substantial share and is anticipated to grow at a tremendous rate in the upcoming years in the renewable drones market owing to the increase in agricultural land , growing attempts to reduce the use of fossil fuel energy and the increasing government initiatives for pollution-free and clean energy among other factors etc.
FEW KEY PLAYERS IN RENEWABLE DRONES MARKET:
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global renewable drones market by the following segments:
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Key Questions Answered in the Global Renewable Drones Industry Report
The report offers a comprehensive insight on the Renewable Drones Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
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