The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
The global wind turbine components market reached a value of US$ 110.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 171.1 Billion by 2027, exhibiting at a CAGR of 7.71% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
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.
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.
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 and regional level from 2022-2027. Our report has categorized the market based on component, wind turbine type and wind farm type.
Breakup by Component:
Breakup by Wind Turbine Type:
Breakup by Wind Farm Type:
Breakup by Region:
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.
|Base Year of the Analysis||2021|
|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$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|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)|
REACH OUT TO US
Call us on
( US: +1-631-791-1145 )
( UK: +44-753-713-2163 )
( India: +91 120 433 0800 )
Drop us an email at