A wind turbine refers to a device that converts kinetic energy into electrical energy. The turbine blades are used to capture the kinetic energy in the wind which helps in the movement and spinning of the shafts, that leads from the hub of the rotor to a generator. The generator then turns the rotational energy into electric energy. Wind turbines are mounted on a tower to absorb energy from the wind. The higher the blades are, the more they can take benefit of the fast and less turbulent wind.

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The key factors accelerating the growth of the Global Wind Turbine Components market include the growing awareness about the usage of renewable energy, increasing wind energy capacity, and rising demand for renewable energy across the globe. The rapid industrialization, especially in developing countries, is increasing the demand for electric power, which in turn, will propel the demand for wind turbines over the coming years. The stringent government regulation related to carbon emission is boosting the growth of renewable energy resources, and wind power, thereby fuelling the demand of the market. Moreover, the increasing adoption of wind turbines along with technological advancement is expected to transform the manufacturing of wind turbine components, which will attract a large number of end-users towards the adoption of wind turbines. However, inefficiency in supply chain management is constraining the growth of the market.

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Based on the type, the offshore turbine segment is expected to grow at a higher CAGR during the forecast period owing to the increasing adoption of the offshore turbine driven by its consistent wind speed and directions as compared to the onshore wind turbines.

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Based on the region, the Asia-pacific region is anticipated to lead the market during the forecast period. The increasing energy demand due to the rapid industrialization and urbanization, will drive the demand for wind turbine components market across the region. Moreover, the continuous advancement in technology in emerging economies such as China and India is also expected to improve the growth of the market.
The major key players in the market include General Electric, Siemens Gamesa Renewable, Nordex SE, Senvion Deutschland GmbH, Vestas, Xinjiang Goldwind Science & Technology Co., Ltd., Enercon GmbH, Suzlon Energy Ltd., Sinovel Wind Group Company, and Ming Yang Wind Power Group Ltd.

Key Developments:

• • In 2020, Nordex SE entered into contract to install the Dutch wind farm “De Drentse Monden en Oostermoer” (DMO) with total capacity of 172 MW. The company will supply 44 N131/3900 turbines including the foundations to its customers Duurzame Energieproductie Exloermond BV, Raedthuys DDM B.V. and Windpark Oostermoer Exploitatie B.V.
  • In 2020, Vestas entered into a contract of more than 750 MW in wind power projects from the United States to Mexico or Russia, to the Mekong Delta in Vietnam.
    The Global Wind Turbine Components market has been segmented based on the Type, Component, and region. Based on Type, the market is segmented into the onshore turbine and offshore turbine. Based on the Component, the market is segmented into Rotator Blade, Shaft, Tower, Nacelle, Gearbox, Generator, and Others.

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Key questions answered in this research report:

• • At what pace is the Global Wind Turbine Components market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the Global Wind Turbine Components market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Wind Turbine Components market?
  • Which type of wind turbine component generated maximum revenues in 2019 and identify the most promising types during the forecast period?
  • What are the various Components areas of the Global Wind Turbine Components market, and how are they poised to grow?
  • What companies are the major participants in the Global Wind Turbine Components market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues Currency	USD Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Type, By Component, and By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	General Electric, Siemens Gamesa Renewable, Nordex SE, Senvion Deutschland GmbH, Vestas, Xinjiang Goldwind Science & Technology Co., Ltd., Enercon GmbH, Suzlon Energy Ltd., Sinovel Wind Group Company, and Ming Yang Wind Power Group Ltd.; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Wind Turbine Components Market by Type

• • Onshore Turbine
  • Offshore Turbine

Global Wind Turbine Components Market by Component

• • Rotator Blade
  • Shaft
  • Tower
  • Nacelle
  • Gearbox
  • Generator
  • Others

Global Wind Turbine Components Market by Region

• • North America Wind Turbine Components Market
    (Option 1: As a part of the free 25% customization)

• North America Wind Turbine Components Market by Type
• North America Wind Turbine Components Market by Component
• US All-Up Wind Turbine Components Market
• Canada All-Up Wind Turbine Components Market

• Europe Wind Turbine Components Market
  (Option 2: As a part of the free 25% customization)

 

• Europe Wind Turbine Components Market by Type
• Europe Wind Turbine Components Market by Component
• United Kingdom (UK) All-Up Wind Turbine Components Market
• Germany All-Up Wind Turbine Components Market
• UK All-Up Wind Turbine Components Market
• France All-Up Wind Turbine Components Market
• Spain All-Up Wind Turbine Components Market
• Rest of Europe All-Up Wind Turbine Components Market
• Asia-Pacific Wind Turbine Components Market
  (Option 3: As a part of the free 25% customization)
  • Asia-Pacific Wind Turbine Components Market by Type
  • Asia-Pacific Wind Turbine Components Market by Component
  • China All-Up Wind Turbine Components Market
  • India All-Up Wind Turbine Components Market
  • Japan All-Up Wind Turbine Components Market
  • Rest of APAC All-Up Wind Turbine Components Market
• ROW Wind Turbine Components Market
  (Option 4: As a part of the free 25% customization)
  • ROW Wind Turbine Components Market by Type
  • ROW Wind Turbine Components Market by Component
  • Brazil All-Up Wind Turbine Components Market
  • South Africa All-Up Wind Turbine Components Market
  • Saudi Arabia All-Up Wind Turbine Components Market
  • UAE All-Up Wind Turbine Components Market
  • Rest of world (remaining countries of the LAMEA region) All-Up Wind Turbine Components Market

Global Wind Turbine Components Market Leading Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • General Electric
  • Siemens Gamesa Renewable
  • Nordex SE
  • Senvion Deutschland GmbH
  • Vestas
  • Xinjiang Goldwind Science & Technology Co., Ltd.
  • Enercon GmbH
  • Suzlon Energy Ltd.
  • Sinovel Wind Group Company
  • Ming Yang Wind Power Group Ltd.