In 2021, wind turbines are providing a significant avenue for growth in the crane industry. Alternative energy sources continue to be an area of focus in research and implementation and the wind farm industry is certainly a large part of that growth segment. True Steel Crane & Rigging recognized the need for cranes, especially in the area of turbine maintenance and has invested considerable resources in becoming a sought after crane service provider in the wind farm industry.
Terms such as renewable energy and clean energy are interchangeable and used to describe means of creating a sustainable, earth friendly power to reduce our dependence on energy produced by fossil fuels. Renewable energies include hydroelectric (water), solar, geothermal (from heat within the earth), wind and plant or animal material referred to as biomass. Wind energy is used to create mechanical power or electricity. Wind turbines have been historically used for pumping water and in food production such as milling grain.
Today, wind is being used to power turbines which are connected by a shaft to generators that produce electricity. While fairly straight forward in principle there are moving parts involved that have a limit on their production lifespan. These parts eventually wear out and need replaced. Due to this need, large mobile all terrain and crawler cranes, such as what is used by True Steel, are utilized on wind farms to keep these electricity producing giants in operation.
Current industry trends and forecasts show the North American Crane & Hoist market to grow steadily through 2028. Compound annual growth appears to be approximately 5 percent. Mobile cranes, due to their flexibility, account for the largest market share. The need for highly skilled crane operators and rigging professionals is significant and provides an attractive career path for those that are interested in a skills based career in the crane and rigging industry.
According to businesswire.com, the global wind energy market was valued at 62.1 billion in 2019 and is projected to reach 127.2 billion by 2027. With government and overall concern to reduce fossil fuel driven energy production, wind and renewable energy will continue to see growth for years to come.