The wind turbine components market size is anticipated to hit around US$ 20 bn by 2027 and growing at a CAGR of 5% over the forecast period 2020 to 2027.
A wind turbine belongs to a device which converts kinetic energy into electricity. The turbine blades are used to absorb the kinetic power in the wind that allows the shafts to travel and rotate from the center of the rotor to the generator. The generator then converts the rotational power into electricity. A generator to absorb wind energy is mounted on a roof. The higher the blades, the more easily and less turbulent wind they will gain.
Market Insights
The demand for wind turbines is expected to raise awareness of the use of renewable energy and to increase wind power capacities globally. The market for renewable energy sources was driven by stringent government rules and regulations against emissions of carbon. In addition, technological developments and measures initiated by environmental organizations and governments lead to market demand by promoting sustainable energy with less emission. Furthermore, the growing adoption of offshore applications over the next eight years is expected to fuel market growth. However, the factor that may hinder the market growth of the global wind turbine components is inefficiency in the supply chain.
Covid-19 will have high impact on renewable energy projects
In most countries, the renewable sector depends heavily on imports from other regions, especially China. More than 40% of the global solar industry's supply chain is supplied from China and other countries of Southeast Asia, including Vietnam and Thailand. The U.S. and Europe depend heavily on cheap photovoltaic (PV) solar modules and China cells. In global, China companies like Trina Solar, Yingli, Hanwa, Jinko and Rene Solar are big suppliers of solar panels. More than 50% of components come from these manufacturers. The outbreak in Covid-19 has resulted in a global supply constraint where part and equipment manufacturers have stopped production at their facilities for the first two months i.e.March and April 2020.
Report coverage
The market research study on “Wind Turbine Components Market (By Type: Onshore Turbine, Offshore Turbine; By Component: Rotator Blade, Shaft, Tower, Nacelle, Gearbox, Generator, Others) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global wind turbine components market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global wind turbine components market are type, component, and major geographic regions. The wind turbine components market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
The global economy is dominated in the historical period by developing economies, including Europe and North America. During the forecast period, emerging region such as Asia Pacific are anticipated to be witnessing significant demand for this program. Owing to a strong energy demand, the Asia-Pacific region will rise in productivity with CAGR in the next 8 years. In developing countries, rapid urbanization and industrialization will fuel electricity demand over the projected period, which is expected to have a positive effect on the wind turbines market. In developing economies such as India, Brazil, and China, technological progress is projected to fuel business development in the immediate future.
Key Players
Major players included in this report are Nordex SE, Enercon GmbH, General Electric, Siemens Gamesa Renewable, Senvion Deutschland GmbH, Xinjiang Goldwind Science & Technology Co., Ltd., Vestas, Suzlon Energy Ltd., Ming Yang Wind Power Group Ltd., Sinovel Wind Group Company, and others. Over the projected period, the market is expected to see major fusions and acquisitions. Formidable companies are expected to develop new markets with advanced technological capabilities. The aim of these strategic initiatives is to provide cheaper energy and to develop effective methods for generating power. These developments in the demand for wind turbine components will have a positive impact in the near future.
The global wind turbine components market is segmented as below:
Market Segmentation
Wind Turbine Components Market By Type
- Onshore Turbine
- Offshore Turbine
Wind Turbine Components Market By Component
- Rotator Blade
- Shaft
- Tower
- Nacelle
- Gearbox
- Generator
- Others
Wind Turbine Components Market By Geography
North America
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Table Of Content:
CHAPTER 1. INDUSTRY OVERVIEW
1.1. Definition and Scope
1.1.1. Definition of Wind Turbine Components
1.1.2. Market Segmentation
1.1.3. List of Abbreviations
1.2. Summary
1.2.1. Market Snapshot
1.2.2. Wind Turbine Components Market By Type
1.2.2.1. Global Wind Turbine Components Market Revenue and Growth Rate Comparison By Type (2020-2027)
1.2.2.2. Global Wind Turbine Components Market Revenue Share By Type in 2019
1.2.2.2.1. Onshore Turbine
1.2.2.2.2. Offshore Turbine
1.2.3. Wind Turbine Components Market By Component
1.2.3.1. Rotator Blade
1.2.3.2. Shaft
1.2.3.3. Tower
1.2.3.4. Nacelle
1.2.3.5. Gearbox
1.2.3.6. Generator
1.2.3.7. Others
1.2.4. Wind Turbine Components Market By Geography
1.2.4.1. Global Wind Turbine Components Market Revenue and Growth Rate Comparison by Geography (2020-2027)
1.2.4.2. North America Wind Turbine Components Market Revenue and Growth Rate(2020-2027)
1.2.4.3. Europe Wind Turbine Components Market Revenue and Growth Rate(2020-2027)
1.2.4.4. Asia-Pacific Wind Turbine Components Market Revenue and Growth Rate(2020-2027)
1.2.4.5. Latin America Wind Turbine Components Market Revenue and Growth Rate(2020-2027)
1.2.4.6. Middle East and Africa (MEA) Wind Turbine Components Market Revenue and Growth Rate(2020-2027)
CHAPTER 2. MARKET DYNAMICS AND COMPETITION ANALYSIS
2.1. Market Drivers
2.2. Restraints and Challenges
2.3. Growth Opportunities
2.4. Porter’s Five Forces Analysis
2.4.1. Bargaining Power of Suppliers
2.4.2. Bargaining Power of Buyers
2.4.3. Threat of Substitute
2.4.4. Threat of New Entrants
2.4.5. Degree of Competition
2.5. Value Chain Analysis
2.6. Cost Structure Analysis
2.6.1. Raw Material and Suppliers
2.6.2. Manufacturing Process Analysis
2.7. Regulatory Compliance
2.8. Competitive Landscape, 2019
2.8.1. Player Positioning Analysis
2.8.2. Key Strategies Adopted By Leading Players
CHAPTER 3. MANUFACTURING PLANTS ANALYSIS
3.1. Capacity and Commercial Production Date of Global Pure Cashmere Major Manufacturers in 2019
3.2. Manufacturing Plants Distribution of Global Pure Cashmere Major Manufacturers in 2019
3.3. R&D Status and Technology Source of Global Pure Cashmere Major Manufacturers in 2019
3.4. Raw Materials Sources Analysis of Global Pure Cashmere Major Manufacturers in 2019
CHAPTER 4. WIND TURBINE COMPONENTS MARKET BY TYPE
4.1. Global Pure Cashmere Revenue By Type
4.2. Onshore Turbine
4.2.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
4.2.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
4.3. Offshore Turbine
4.3.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
4.3.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
CHAPTER 5. WIND TURBINE COMPONENTS MARKET BY COMPONENT
5.1. Global Pure Cashmere Revenue By Component
5.2. Rotator Blade
5.2.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.2.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.3. Shaft
5.3.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.3.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.4. Tower
5.4.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.4.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.5. Nacelle
5.5.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.5.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.6. Gearbox
5.6.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.6.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.7. Generator
5.7.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.7.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
5.8. Others
5.8.1. Market Revenue and Growth Rate, 2020 - 2027 ($Million)
5.8.2. Market Revenue and Forecast, By Region, 2020 - 2027 ($Million)
CHAPTER 6. NORTH AMERICA WIND TURBINE COMPONENTS MARKET BY COUNTRY
6.1. North America Wind Turbine Components Market Revenue and Growth Rate, 2020 - 2027 ($Million)
6.2. North America Wind Turbine Components Market Revenue Share Comparison, 2020 & 2027 (%)
6.3. U.S.
6.3.1. U.S. Wind Turbine Components Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
6.3.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
6.4. Canada
6.4.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
6.4.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
CHAPTER 7. EUROPE WIND TURBINE COMPONENTS MARKET BY COUNTRY
7.1. Europe Wind Turbine Components Market Revenue and Growth Rate, 2020 - 2027 ($Million)
7.2. Europe Wind Turbine Components Market Revenue Share Comparison, 2020 & 2027 (%)
7.3. UK
7.3.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
7.3.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
7.4. Germany
7.4.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
7.4.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
7.5. France
7.5.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
7.5.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
7.6. Spain
7.6.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
7.6.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
7.7. Rest of Europe
7.7.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
7.7.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
CHAPTER 8. ASIA-PACIFIC WIND TURBINE COMPONENTS MARKET BY COUNTRY
8.1. Asia-Pacific Wind Turbine Components Market Revenue and Growth Rate, 2020 - 2027 ($Million)
8.2. Asia-Pacific Wind Turbine Components Market Revenue Share Comparison, 2020 & 2027 (%)
8.3. China
8.3.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.3.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
8.4. Japan
8.4.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.4.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
8.5. India
8.5.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.5.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
8.6. Australia
8.6.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.6.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
8.7. South Korea
8.7.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.7.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
8.8. Rest of Asia-Pacific
8.8.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
8.8.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
CHAPTER 9. LATIN AMERICA WIND TURBINE COMPONENTS MARKET BY COUNTRY
9.1. Latin America Wind Turbine Components Market Revenue and Growth Rate, 2020 - 2027 ($Million)
9.2. Latin America Wind Turbine Components Market Revenue Share Comparison, 2020 & 2027 (%)
9.3. Brazil
9.3.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
9.3.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
9.4. Mexico
9.4.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
9.4.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
9.5. Rest of Latin America
9.5.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
9.5.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
CHAPTER 10. MIDDLE EAST & AFRICA WIND TURBINE COMPONENTS MARKET BY COUNTRY
10.1. Middle East & Africa Wind Turbine Components Market Revenue and Growth Rate, 2020 - 2027 ($Million)
10.2. Middle East& Africa Wind Turbine Components Market Revenue Share Comparison, 2020 & 2027 (%)
10.3. GCC
10.3.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
10.3.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
10.4. South Africa
10.4.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
10.4.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
10.5. Rest of Middle East & Africa
10.5.1. Market Revenue and Forecast By Type, 2020 - 2027 ($Million)
10.5.2. Market Revenue and Forecast By Component, 2020 - 2027 ($Million)
CHAPTER 11. COMPANY PROFILE
11.1. Nordex SE
11.1.1. Company Snapshot
11.1.2. Overview
11.1.3. Financial Overview
11.1.4. Product Portfolio
11.1.5. Key Developments
11.1.6. Strategies
11.2. Enercon GmbH
11.2.1. Company Snapshot
11.2.2. Overview
11.2.3. Financial Overview
11.2.4. Product Portfolio
11.2.5. Key Developments
11.2.6. Strategies
11.3. General Electric
11.3.1. Company Snapshot
11.3.2. Overview
11.3.3. Financial Overview
11.3.4. Product Portfolio
11.3.5. Key Developments
11.3.6. Strategies
11.4. Siemens Gamesa Renewable
11.4.1. Company Snapshot
11.4.2. Overview
11.4.3. Financial Overview
11.4.4. Product Portfolio
11.4.5. Key Developments
11.4.6. Strategies
11.5. Senvion Deutschland GmbH
11.5.1. Company Snapshot
11.5.2. Overview
11.5.3. Financial Overview
11.5.4. Product Portfolio
11.5.5. Key Developments
11.5.6. Strategies
11.6. Xinjiang Goldwind Science & Technology Co., Ltd.
11.6.1. Company Snapshot
11.6.2. Overview
11.6.3. Financial Overview
11.6.4. Product Portfolio
11.6.5. Key Developments
11.6.6. Strategies
11.7. Vestas
11.7.1. Company Snapshot
11.7.2. Overview
11.7.3. Financial Overview
11.7.4. Product Portfolio
11.7.5. Key Developments
11.7.6. Strategies
11.8. Suzlon Energy Ltd.
11.8.1. Company Snapshot
11.8.2. Overview
11.8.3. Financial Overview
11.8.4. Product Portfolio
11.8.5. Key Developments
11.8.6. Strategies
11.9. Ming Yang Wind Power Group Ltd.
11.9.1. Company Snapshot
11.9.2. Overview
11.9.3. Financial Overview
11.9.4. Product Portfolio
11.9.5. Key Developments
11.9.6. Strategies
11.10. Sinovel Wind Group Company
11.10.1. Company Snapshot
11.10.2. Overview
11.10.3. Financial Overview
11.10.4. Product Portfolio
11.10.5. Key Developments
11.10.6. Strategies
11.11. Others
11.11.1. Company Snapshot
11.11.2. Overview
11.11.3. Financial Overview
11.11.4. Product Portfolio
11.11.5. Key Developments
11.11.6. Strategies
CHAPTER 12. RESEARCH APPROACH
12.1. Research Methodology
12.1.1. Initial Data Search
12.1.2. Secondary Research
12.1.3. Primary Research
12.2. Assumptions and Scope
