Please Wait.....
Report
North America Wind Turbine Components Market Forecast to 2028 - COVID-19 Impact and Regional Analysis - by Component (Rotor Blade, Nacelle, Gearbox, Generator, Tower, and Pitch System)
Market Report I 2023-02-13 I 138 Pages I The Insight Partners
The North America wind turbine components market is expected to grow from US$ 19,633.17 million in 2022 to US$ 22,574.96 million by 2028. It is estimated to grow at a CAGR of 2.4% from 2022 to 2028.
Rising Number of Wind Farms is fueling the growth of North America wind turbine components market
There is an increase in demand for a clean energy source as it eliminates greenhouse gases, reduces dependence on imported fuels, and diversifies the energy supply. This is fueling government investments in the construction of wind farms across the region. In 2021, ~10 largest wind farm projects were completed in the US, including Texas Gulf Wind Repower (Texas), Las Majadas Wind Project (Texas), Milligan I Wind Project (Nebraska), Deuel Harvest Wind Farm (South Dakota), Frontier Windpower II Project (Oklahoma), Isabella Wind Project (Michigan), Jordan Creek Wind Farm (Indiana), and Maverick Creek Wind Project (Texas). To achieve the target of Net Zero Emissions by 2050, significant investments are made for the new construction and expansion of wind farms. As the investment in wind farms is rising, the demand for various wind turbine components such as rotor blades, nacelle, gearbox, generator, tower, and pitch system is also increasing, catalyzing the growth of North America wind turbine components market .
North America Wind Turbine Components Market Overview
The North America wind turbine components market is sub segmented into the US, Canada, and Mexico. Owing to stringent government regulations, increase in investment in wind power projects, favorable policies, and reduced cost of wind energy, the wind industry across the region is expected to register remarkable growth. With the growing consumer awareness of climate change and the role of renewable energy, the demand for wind turbines is expected to increase in North America. In 2020, US wind energy grew at a record pace, representing the largest source of new additions to the US electric-generating capacity. Wind provides ~10% of electricity in 16 states of the US and over 30% in Kansas, Oklahoma, Iowa, South Dakota, and North Dakota. In addition, the improvements in the cost and performance of wind energy technologies, coupled with the Production Tax Credit, have accelerated the addition of wind energy capacity.
Moreover, in 2021, a surge in pipeline projects for installing wind energy projects was witnessed in the US owing to declining offshore wind prices, state-level commitments, and federal action. Furthermore, 15 offshore wind turbine projects in the US have reached the permitting phase, and 8 states have set offshore wind energy procurement goals of 39,298 MW by 2040. The Departments of Energy, Interior and Commerce, US have also planned to expand offshore wind capacity to 30 GW by 2030 through significant government investments.
North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
North America Wind Turbine Components Market Segmentation
The North America wind turbine components market is segmented into component and country. Based on component, the North America wind turbine components market is segmented into rotor blade, nacelle, gearbox, generator, tower, and pitch system. The tower segment registered the largest market share in 2022.
Based on country, the North America wind turbine components market is segmented into US, Canada, and Mexico. US dominated the market share in 2022.
Flender International GmbH, GRI Renewable Industries SL, LM Wind Power AS, Marmen Inc, Siemens Gamesa Renewable Energy SA, The Timken Company, TPI Composites Inc, Valmont Industries Inc, Vestas Wind Systems AS, and ZF Friedrichshafen AG are the leading companies operating in the North America wind turbine components market.
TABLE OF CONTENTS
1. Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Wind Turbine Components Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Wind Turbine Components Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Number of Product Launches
5.1.2 Rising Number of Wind Farms
5.2 Market Restraints
5.2.1 Overdependence on Wind Turbine Component Manufacturers
5.3 Market Opportunities
5.3.1 Growing Government Initiatives to Promote Wind Energy
5.4 Future Trends
5.4.1 Rising Demand for Floating Wind Technology
5.5 Impact Analysis of Drivers and Restraints
6. Wind Turbine Components Market - North America Market Analysis
6.1 North America Wind Turbine Components Market Overview
6.2 North America Wind Turbine Components Market Forecast and Analysis
7. North America Wind Turbine Components Market Revenue and Forecast to 2028 - Component
7.1 Overview
7.2 North America Wind Turbine Components Market, By Component (2021 & 2028)
7.3 Rotor Blade
7.3.1 Overview
7.3.2 Rotor Blade: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.3.3 Below 40m
7.3.3.1 Overview
7.3.3.2 Below 40m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.3.4m to 60m
7.3.4.1 Overview
7.3.4.2m to 60m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.3.5m to 70m
7.3.5.1 Overview
7.3.5.2m to 70m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.3.6 Above 70m
7.3.6.1 Overview
7.3.6.2 Above 70m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.4 Nacelle
7.4.1 Overview
7.4.2 Nacelle: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.5 Gearbox
7.5.1 Overview
7.5.2 Gearbox: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.5.3 Planetary Gearbox
7.5.3.1 Overview
7.5.3.2 Planetary Gearbox: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.5.4 Spur Gearbox
7.5.4.1 Overview
7.5.4.2 Spur Gearbox: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.5.5 Others
7.5.5.1 Overview
7.5.5.2 Others: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.6 Generator
7.6.1 Overview
7.6.2 Generator: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.6.3 Direct Current
7.6.3.1 Overview
7.6.3.2 Direct Current: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.6.4 AC Synchronous
7.6.4.1 Overview
7.6.4.2 AC Synchronous: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.7 Tower
7.7.1 Overview
7.7.2 Tower: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.7.3 Tubular Steel Towers
7.7.3.1 Overview
7.7.3.2 Tubular Steel Towers: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.7.4 Lattice Towers
7.7.4.1 Overview
7.7.4.2 Lattice Towers: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.7.5 Hybrid Towers
7.7.5.1 Overview
7.7.5.2 Hybrid Towers: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.8 Pitch System
7.8.1 Overview
7.8.2 Pitch System: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
8. North America Wind Turbine Components Market - Country Analysis
8.1 Overview
8.1.1 North America: Wind Turbine Components Market, by Key Country
8.1.1.1 US: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
8.1.1.1.1 US: Wind Turbine Components Market, by Component
8.1.1.1.1.1 US: Wind Turbine Components Market, by Rotor Blades
8.1.1.1.1.2 US: Wind Turbine Components Market, by Gearbox
8.1.1.1.1.3 US: Wind Turbine Components Market, by Generator
8.1.1.1.1.4 US: Wind Turbine Components Market, by Tower
8.1.1.2 Canada: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
8.1.1.2.1 Canada: Wind Turbine Components Market, by Component
8.1.1.2.1.1 Canada: Wind Turbine Components Market, by Rotor Blades
8.1.1.2.1.2 Canada: Wind Turbine Components Market, by Gearbox
8.1.1.2.1.3 Canada: Wind Turbine Components Market, by Generator
8.1.1.2.1.4 Canada: Wind Turbine Components Market, by Tower
8.1.1.3 Mexico: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
8.1.1.3.1 Mexico: Wind Turbine Components Market, by Component
8.1.1.3.1.1 Mexico: Wind Turbine Components Market, by Rotor Blades
8.1.1.3.1.2 Mexico: Wind Turbine Components Market, by Gearbox
8.1.1.3.1.3 Mexico: Wind Turbine Components Market, by Generator
8.1.1.3.1.4 Mexico: Wind Turbine Components Market, by Tower
9. Industry Landscape
9.1 Overview
9.2 Market Initiative
9.3 New Product Development
9.4 Merger and Acquisition
10. Company Profiles
10.1 Siemens Gamesa Renewable Energy SA
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Vestas Wind Systems AS
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 TPI Composites Inc
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 GRI Renewable Industries SL
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Marmen Inc
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 Valmont Industries Inc
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 LM Wind Power AS
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 The Timken Company
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 ZF Friedrichshafen AG
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview
10.9.5 SWOT Analysis
10.9.6 Key Developments
10.10 Flender International GmbH
10.10.1 Key Facts
10.10.2 Business Description
10.10.3 Products and Services
10.10.4 Financial Overview
10.10.5 SWOT Analysis
10.10.6 Key Developments
11. Appendix
11.1 About The Insight Partners
11.2 Glossary
LIST OF TABLES
Table 1. North America Wind Turbine Components Market, Revenue and Forecast, 2019-2028 (US$ Mn)
Table 2. US: Wind Turbine Components Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Wind Turbine Components Market, by Rotor Blades- Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Wind Turbine Components Market, by Gearbox- Revenue and Forecast to 2028 (US$ Million)
Table 5. US: Wind Turbine Components Market, by Generator- Revenue and Forecast to 2028 (US$ Million)
Table 6. US: Wind Turbine Components Market, by Tower- Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada: Wind Turbine Components Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 8. Canada: Wind Turbine Components Market, by Rotor Blades- Revenue and Forecast to 2028 (US$ Million)
Table 9. Canada: Wind Turbine Components Market, by Gearbox- Revenue and Forecast to 2028 (US$ Million)
Table 10. Canada: Wind Turbine Components Market, by Generator- Revenue and Forecast to 2028 (US$ Million)
Table 11. Canada: Wind Turbine Components Market, by Tower- Revenue and Forecast to 2028 (US$ Million)
Table 12. Mexico: Wind Turbine Components Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico: Wind Turbine Components Market, by Rotor Blades- Revenue and Forecast to 2028 (US$ Million)
Table 14. Mexico: Wind Turbine Components Market, by Gearbox- Revenue and Forecast to 2028 (US$ Million)
Table 15. Mexico: Wind Turbine Components Market, by Generator- Revenue and Forecast to 2028 (US$ Million)
Table 16. Mexico: Wind Turbine Components Market, by Tower- Revenue and Forecast to 2028 (US$ Million)
Table 17. Glossary of Terms, North America Wind Turbine Components Market
LIST OF FIGURES
Figure 1. North America Wind Turbine Components Market Segmentation
Figure 2. North America Wind Turbine Components Market Segmentation - by Country
Figure 3. North America Wind Turbine Components Market Overview
Figure 4. North America Wind Turbine Components Market, by Component
Figure 5. North America Wind Turbine Components Market, by Country
Figure 6. North America: PEST Analysis
Figure 7. Wind Turbine Components Market- Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. North America Wind Turbine Components Market: Impact Analysis of Drivers and Restraints
Figure 10. North America Wind Turbine Components Market, Forecast and Analysis (US$ Mn)
Figure 11. North America Wind Turbine Components Market, By Component (2021 & 2028)
Figure 12. Rotor Blade: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Below 40m: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 14.m to 60m: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 15.m to 70m: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Above 70m: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Nacelle: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Gearbox: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Planetary Gearbox: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Spur Gearbox: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Generator: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Direct Current: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. AC Synchronous: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Tower: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Tubular Steel Towers: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. Lattice Towers: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. Hybrid Towers: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. Pitch System: North America Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. North America: Wind Turbine Components Market, by Key Country - Revenue (2021) (US$ Million)
Figure 31. North America: Wind Turbine Components Market Revenue Share, by Key Country (2021 & 2028)
Figure 32. US: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
Figure 33. Canada: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
Figure 34. Mexico: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security