According to the latest report by IMARC Group, The wind turbine components market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the global wind turbine components market to grow at a CAGR of 7.5% during 2021-2026.
Wind turbine components convert the kinetic energy generated from the wind into electrical energy. They majorly include anemometer, multiple rotating blades, brake, controller, generator and gearbox, along with a nacelle, drive train, power transformer, Supervisory Control and Data Acquisition (SCADA) systems, etc. These components are generally manufactured by using raw materials, such as stainless steel, fiberglass, resin, iron, copper, aluminum, and plastic weathering and corrosion protection materials to enhance components’ longevity and functioning.
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The rising demand for renewable energy resources, such as wind energy, and elevating electricity consumption across the globe are primarily driving the market for wind turbine components. Moreover, growing environmental awareness has propelled the adoption of wind energy systems in green buildings for independent power generation, thereby further contributing to the market growth. Numerous technological advancements have led to the adoption of 3D printed components by manufacturers for cost-effective and enhanced rotor blades production. Furthermore, the deployment of various policies by governments to encourage sustainable energy production will continue to drive the market for wind turbine components. Looking forward, IMARC Group expects the global wind turbine components market to continue its moderate growth during the next five years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global wind turbine components market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, component, wind turbine type and wind farm type.
Breakup by Component:
- Rotator Blade
- Gearbox
- Generator
- Nacelle
- Tower
- Others
Breakup by Wind Turbine Type:
- Grid Connected
- Standalone
Breakup by Wind Farm Type:
- Onshore
- Offshore
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape Key Player:
- Enercon GmbH
- GE Renewable Energy
- Nordex SE
- Northern Power Systems Corp. (Distributed Energy Systems Corp.)
- Siemens Gamesa Renewable Energy (Siemens AG)
- Sinovel Wind Group Co. Ltd.
- Suzlon Energy Ltd.
- United Power Inc. (United Power Technology)
- Vestas Wind Systems A/S
- Xinjiang Goldwind Science & Technology Co. Ltd
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