Wind Turbine Components Market 2022-2027: Industry Size, Share, Trends and Forecast

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.

Wind turbine components are widely adopted to convert kinetic energy that is generated from the wind into electrical energy. They primarily include an anemometer, brake, multiple rotating blades, controller, generator, and gearbox, along with a drive train, nacelle, Supervisory Control and Data Acquisition (SCADA) systems, power transformer, etc. Wind turbine components are manufactured by using raw materials, such as fiberglass, resin, stainless steel, iron, copper, aluminum, plastic, etc.  These materials are used for weathering and corrosion protection materials to enhance components’ longevity and functioning.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.Wind Turbine Components Market Trends

Wind Turbine Components Market Trends:

The increasing adoption of safer and cleaner renewable energy resources, such as wind energy, along with the rising electricity consumption, are augmenting the market for wind turbine components. Besides this, growing environmental consciousness has catalyzed the adoption of wind energy systems in green buildings for independent power generation, thereby positively influencing the market growth. Several technological advancements have led to the utilization of 3D printed components by various manufacturers for cost-effective and enhanced rotor blade production. Additionally, the rising deployment of various policies by governments to promote sustainable energy production will continue to bolster the global market for wind turbine components.

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Wind Turbine Components Market Coverage and Segmentation 2022-2027:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the 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 on the basis of component, wind turbine type, wind farm type and region.

Segmentation by Component:

  • Rotator Blade
  • Gearbox
  • Generator
  • Nacelle
  • Tower
  • Others

Segmentation by Wind Turbine Type:

  • Grid Connected
  • Standalone

Segmentation by Wind Farm Type:

  • Onshore
  • Offshore

 Regional Insights:

  • 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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