Floating Lidar Systems Market Size to Grow USD 70.65 Million by 2030 at a CAGR of 25.63% | Valuates Reports

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Mar 14, 2024, 12:04 ET

BANGALORE, India, March 14, 2024 /PRNewswire/ -- Floating Lidar Systems Market is Segmented by Type (Maximum Measuring Distance≤300m, Maximum Measuring Distance>300m), by Application (Offshore Wind Power, Other Commercial Applications and Scientific Research).

The Global market for Floating Lidar Systems Market was estimated to be worth USD 14.90 Million in 2023 and is forecast to a readjusted size of USD 70.65 Million by 2030 with a CAGR of 25.63% during the forecast period 2024-2030.

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Major Factors Driving the Growth of Floating Lidar Systems Market

The offshore wind energy industry's growing need for precise and affordable instruments for assessing wind resources is driving the expansion of the floating lidar systems market. Developers can now evaluate offshore wind potential more effectively because of these systems' flexibility, quick deployment, and accurate wind data collecting thanks to advances in lidar technology.

Furthermore, the market is growing because of governmental backing, the rise of offshore wind markets, and environmental concerns, which establish floating lidar systems as crucial elements in reducing the risk associated with offshore wind investments and hastening the switch to renewable energy sources.

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TRENDS INFLUENCING THE GROWTH OF FLOATING LIDAR SYSTEMS MARKET:

In order to analyze offshore wind resources more affordably than standard meteorological towers, floating lidar devices present an attractive option. These systems, which may be installed on floating platforms, cut installation and maintenance expenses by doing away with the requirement for pricey fixed-bottom foundations. Additionally, because of their capacity to gather wind data at different elevations above the water's surface, developers may optimize the location and arrangement of turbines for optimal energy generation by gaining a thorough understanding of the wind resource. The flexibility and quick deployment of floating lidar systems is one of their main benefits. Traditional meteorological towers need a long lead time for installation and permits; in contrast, floating lidar systems may be mobilized rapidly, enabling wind resource assessment campaigns to be completed more swiftly.

The development of industry standards and regulatory backing have also aided in the market expansion for floating lidar systems. Governmental and industrial organizations throughout the globe have established standards and guidelines for the deployment and validation of floating lidar systems, realizing the value of trustworthy instruments for assessing wind resources in offshore wind projects. Stakeholders receive clarity and comfort from this regulatory framework, which encourages market adoption.

By offering precise data on wind resources and lowering project development uncertainty, floating lidar devices are essential for de-risking offshore wind projects. These tools help developers reduce risks associated with energy output estimates, project finance, and operational performance by precisely evaluating wind conditions at possible project sites. This boosts investor confidence and facilitates project development.

The floating lidar systems market has a lot of prospects thanks to the global growth of offshore wind industries. Accurate and effective wind resource assessment methods are in high demand as nations set ambitious renewable energy objectives and try to use their offshore wind resources. Opportunities arise for makers of floating lidar systems as a result of this increase. Optimizing offshore wind farm operations and grid connection requires more and more interaction with renewable energy forecasting models. Real-time wind data from floating lidar devices may be used with forecasting software to increase the precision of energy output estimates and support grid stability. The integration of offshore wind projects improves their economic feasibility and fortifies their contribution to the shift towards low-carbon energy in the future.

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FLOATING LIDAR SYSTEMS MARKET SHARE ANALYSIS:

The market for Floating Lidar Systems is strong in Europe, especially in nations with well-established offshore wind sectors including the UK, Germany, and Denmark. These areas have abundant offshore wind resources and encouraging policies from the government, which create an atmosphere that is conducive to the uptake of new technologies and the expansion of markets. Market development is further aided by the existence of seasoned offshore wind developers and service providers.

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Key Companies:

SeaRoc Group
Fugro
Companies
RPS Group
Qingdao Leice Transient Technology
AXYS Technologies
Babcock
EOLOS
Green Rebel
AKROCEAN
Nanjing Movelaser
Fraunhofer IWES
SeaLIDAR
Accurasea

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