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Report
Wind Turbine Components Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
Market Report I 2023-06-14 I 141 Pages I IMARC Group
The global wind turbine components market size reached US$ 118.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 184.0 Billion by 2028, exhibiting a growth rate (CAGR) of 7.3% during 2023-2028.
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.
Wind Turbine Components Market Trends:
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.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global wind turbine components market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, wind turbine type and wind farm type.
Breakup by Component:
Rotator Blade
Gearbox
Generator
Nacelle
Tower
Others
Breakup by Wind Turbine Type:
Grid Connected
Standalone
Breakup by Wind Farm Type:
Onshore
Offshore
Breakup by Region:
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
Competitive Landscape:
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.
Key Questions Answered in This Report
1. What was the size of the global wind turbine components market in 2022?
2. What is the expected growth rate of the global wind turbine components market during 2023-2028?
3. What are the key factors driving the global wind turbine components market?
4. What has been the impact of COVID-19 on the global wind turbine components market?
5. What is the breakup of the global wind turbine components market based on the component?
6. What is the breakup of the global wind turbine components market based on the wind turbine type?
7. What is the breakup of the global wind turbine components market based on the wind farm type?
8. What are the key regions in the global wind turbine components market?
9. Who are the key players/companies in the global wind turbine components market?
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Wind Turbine Components Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Rotator Blade
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Gearbox
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Generator
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Nacelle
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Tower
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Others
6.6.1 Market Trends
6.6.2 Market Forecast
7 Market Breakup by Wind Turbine Type
7.1 Grid Connected
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Standalone
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Wind Farm Type
8.1 Onshore
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Offshore
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Enercon GmbH
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 GE Renewable Energy
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Nordex SE
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.3.4 SWOT Analysis
14.3.4 Northern Power Systems Corp. (Distributed Energy Systems Corp.)
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 Siemens Gamesa Renewable Energy (Siemens AG)
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.5.3 Financials
14.3.5.4 SWOT Analysis
14.3.6 Sinovel Wind Group Co. Ltd.
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Suzlon Energy Ltd.
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 United Power Inc (United Power Technology)
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Vestas Wind Systems A/S
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 Xinjiang Goldwind Science & Technology Co. Ltd.
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
Figure 1: Global: Wind Turbine Components Market: Major Drivers and Challenges
Figure 2: Global: Wind Turbine Components Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Wind Turbine Components Market: Breakup by Component (in %), 2022
Figure 4: Global: Wind Turbine Components Market: Breakup by Wind Turbine Type (in %), 2022
Figure 5: Global: Wind Turbine Components Market: Breakup by Wind Farm Type (in %), 2022
Figure 6: Global: Wind Turbine Components Market: Breakup by Region (in %), 2022
Figure 7: Global: Wind Turbine Components Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 8: Global: Wind Turbine Components (Rotator Blade) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Wind Turbine Components (Rotator Blade) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Wind Turbine Components (Gearbox) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Wind Turbine Components (Gearbox) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Wind Turbine Components (Generator) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Wind Turbine Components (Generator) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Wind Turbine Components (Nacelle) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Wind Turbine Components (Nacelle) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Wind Turbine Components (Tower) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Wind Turbine Components (Tower) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Wind Turbine Components (Other Components) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Wind Turbine Components (Other Components) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Wind Turbine Components (Grid Connected) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Wind Turbine Components (Grid Connected) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Wind Turbine Components (Standalone) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Wind Turbine Components (Standalone) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Wind Turbine Components (Onshore) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Wind Turbine Components (Onshore) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Wind Turbine Components (Offshore) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Wind Turbine Components (Offshore) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: North America: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: North America: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: United States: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: United States: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: Canada: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: Canada: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Asia Pacific: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Asia Pacific: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: China: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: China: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: Japan: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: Japan: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: India: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: India: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: South Korea: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: South Korea: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: Australia: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: Australia: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Indonesia: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Indonesia: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Others: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Others: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Europe: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Europe: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Germany: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Germany: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: France: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: France: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: United Kingdom: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: United Kingdom: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: Italy: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: Italy: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Spain: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Spain: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Russia: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Russia: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Others: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Others: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Latin America: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Latin America: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Brazil: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Brazil: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Mexico: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Mexico: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Others: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Others: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Middle East and Africa: Wind Turbine Components Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Middle East and Africa: Wind Turbine Components Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Global: Wind Turbine Components Industry: SWOT Analysis
Figure 77: Global: Wind Turbine Components Industry: Value Chain Analysis
Figure 78: Global: Wind Turbine Components Industry: Porter's Five Forces Analysis
Table 1: Global: Wind Turbine Components Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Wind Turbine Components Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Wind Turbine Components Market Forecast: Breakup by Wind Turbine Type (in Million US$), 2023-2028
Table 4: Global: Wind Turbine Components Market Forecast: Breakup by Wind Farm Type (in Million US$), 2023-2028
Table 5: Global: Wind Turbine Components Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Wind Turbine Components Market Structure
Table 7: Global: Wind Turbine Components Market: Key Players
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