Wind Turbine Components Market Report by Component (Rotator Blade, Gearbox, Generator, Nacelle, Tower, and Others), Wind Turbine Type (Grid Connected, Standalone), Wind Farm Type (Onshore, Offshore), and Region 2024-2032

Wind Turbine Components Market Report by Component (Rotator Blade, Gearbox, Generator, Nacelle, Tower, and Others), Wind Turbine Type (Grid Connected, Standalone), Wind Farm Type (Onshore, Offshore), and Region 2024-2032

Report Format: PDF+Excel | Report ID: SR112024A2481
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Market Overview:

The global wind turbine components market size reached US$ 127.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 225.6 Billion by 2032, exhibiting a growth rate (CAGR) of 6.4% during 2024-2032.

Report Attribute 
Key Statistics
Base Year
2023
Forecast Years
2024-2032
Historical Years
2018-2023
Market Size in 2023
US$ 127.2 Billion
Market Forecast in 2032
US$ 225.6 Billion
Market Growth Rate 2024-2032 6.4%


Wind turbine components refer to the devices used for converting kinetic energy generated from the wind to electric energy. It consists of an anemometer to measure the speed of the wind and transmit the data, multiple blades to rotate and cause the rotor to spin, a brake to stop the rotor mechanically, electrically or hydraulically, a controller to start up and shut off the machine, a generator and a gearbox. The turbine also consists of a nacelle, drive train, power transformer and yaw, pitch, lubrication, and Supervisory Control and Data Acquisition (SCADA) systems. These components are usually manufactured using stainless steel, fiberglass, resin, iron, copper, aluminum, and plastic to protect the turbines from weathering and corrosion, thereby enhancing the components' longevity and ensuring reliable functioning.

Global Wind Turbine Components Market

Wind Turbine Components Market Trends:

The increasing demand for renewable sources of energy, along with the growing electricity requirements across the globe, is one of the key factors creating a positive impact on the market. Due to rising environmental consciousness among the masses, there is an increasing adoption of wind energy systems for power generation in green buildings, which is contributing to the market growth. Additionally, various technological advancements, such as the development of 3D printed components, are acting as other growth-inducing factors. Manufacturers are using innovating 3D printing technology to create cost-effective and more durable rotor blades with improved design capabilities and greater energy absorption. Other factors, including the implementation of favorable government policies promoting sustainable infrastructural development, along with extensive research and development (R&D) activities, are anticipated to drive the market further. 

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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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 at the global, regional and country level from 2024-2032. Our report has categorized the market based on component, wind turbine type and wind farm type.

Breakup by Component:

 

 
 

 

Note: Information in the above chart consists of dummy data and is only shown here for representation purpose. Kindly contact us for the actual market size and trends.

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  • 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:

 

 
 

 

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  • 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:

The report has also analysed the competitive landscape of the market with some of the key players being 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 and Xinjiang Goldwind Science & Technology Co. Ltd.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
Segment Coverage Component, Wind Turbine Type, Wind Farm Type, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered 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 and Xinjiang Goldwind Science & Technology Co. Ltd.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 3899
Five User License: US$ 4899
Corporate License: US$ 5899
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report

The global wind turbine components market was valued at US$ 127.2 Billion in 2023.

We expect the global wind turbine components market to exhibit a CAGR of 6.4% during 2024-2032.

The increasing adoption of wind energy system for power generation in green building, owing to the rising environmental consciousness, is primarily driving the global wind turbine components market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary closure of various manufacturing units and supply chain disruptions for wine turbine components.

Based on the component, the global wind turbine components market can be segmented into rotator blade, gearbox, generator, nacelle, tower, and others. Among these, rotator blade currently holds the majority of the total market share.

Based on the wind turbine type, the global wind turbine components market has been divided into grid connected and standalone, where standalone wind turbine currently exhibits a clear dominance in the market.

Based on the wind farm type, the global wind turbine components market can be categorized into onshore and offshore. Currently, onshore wind farm accounts for the largest market share.

On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa, where Asia Pacific currently dominates the global market.

Some of the major players in the global wind turbine components market include 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, and Xinjiang Goldwind Science & Technology Co. Ltd.

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Wind Turbine Components Market Report by Component (Rotator Blade, Gearbox, Generator, Nacelle, Tower, and Others), Wind Turbine Type (Grid Connected, Standalone), Wind Farm Type (Onshore, Offshore), and Region 2024-2032
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