Wind Turbine Components Market 2022-27
The global wind turbine components market reached a value of US$110.3 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$171.1 billion by 2027, with a CAGR of 7.71.% during the period 2022-2027.
Wind turbine components are devices used to convert kinetic energy generated by wind into electrical energy. The turbine blades capture wind energy, which is then converted into electricity by the generator in the nacelle. Rotor blades, towers, generators and gearbox are some of the key components of a wind turbine. These components are typically made from stainless steel, fiberglass, resin, iron, copper, aluminum and plastic to protect the turbines from weather and corrosion, improving their longevity and ensuring a reliable operation.
Base year: 2021
Forecast year: 2022-2027
We regularly monitor the direct effect of COVID-19[female[feminine in the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report. Wind Turbine Components Market Trends
Wind Turbine Components Market Trends:
The market is mainly driven by the growing demand for renewable energy sources and growing electricity needs across the world. Also, due to the increasing environmental awareness of the masses, wind power systems are widely used in green buildings for power generation, which is another major growth driver. Furthermore, the market is further propelled by the introduction of various innovative product variations such as the use of 3D printing technology to create cost effective and durable rotor blades with higher energy absorption. Additionally, the growing urgency to adopt environmentally friendly technologies has led manufacturers to invest heavily in research and development (R&D) activities. This coupled with the implementation of favorable government policies promoting sustainable infrastructure development is expected to propel the growth of the market in the coming years.
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Wind Turbine Components Market Coverage and Segmentation 2022-2027:
The competitive landscape of the market has been studied in the report along with the detailed profiles of key players operating in the market.
Some of these key players 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
- Xinjiang Goldwind Science & Technology Co.Ltd
The report has segmented the market based on component, wind turbine type, wind farm type and region.
Segmentation by Making up:
- Rotator blade
Segmentation by type of wind turbine:
- Network connected
Segmentation by type of wind farm:
- 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
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