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According to the latest report by IMARC Group, titled " WindTurbineComponentsMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandF orecast2022-2027
," the global wind turbine components market reached a value of US$ 110.3 Billion in 2021.
Wind turbine components are devices used to convert the kinetic energy generated from the wind into electrical energy. The turbine blades capture the 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 usually manufactured using stainless steel, fiberglass, resin, iron, copper, aluminum, and plastic to protect the turbines from weathering and corrosion, thereby enhancing their longevity and ensuring reliable functioning.
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The market is primarily driven by the increasing demand for renewable energy sources and the growing electricity requirements across the globe. In addition, due to the rising environmental consciousness among the masses, wind energy systems are extensively employed in green buildings for power generation, representing another major growth-inducing factor. Besides this, the market is further propelled by the introduction of various innovative product variants, such as the use of 3D printing technology to create cost-effective and durable rotor blades with higher energy absorption.
Moreover, the growing urgency to adopt eco-friendly technologies has led manufacturers to invest heavily in the research and development (R&D) activities. This, coupled with the implementation of favorable government policies promoting sustainable infrastructural development, is anticipated to propel the market growth in the coming years.
Looking forward, IMARC Group expects the market value to reach US$ 171.1 Billion by 2027, expandingataCAGRof7.71%duringtheforecastperiod(2022-2027).
View Report TOC, Figures and Tables:
https://www.imarcgroup.com/wind-turbine-components-market
Key Market Segmentation
The research report includes the following segments:
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
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa
Competitive Landscape with Key Players:
• 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
1. Whatwasthesizeoftheglobalwindturbinecomponentsmarketin2021?
2. Whatistheexpectedgrowthrateoftheglobalwindturbinecomponentsmarketduring20222027?
3. Whatarethekeyfactorsdrivingtheglobalwindturbinecomponentsmarket?
4. WhathasbeentheimpactofCOVID-19ontheglobalwindturbinecomponentsmarket?
5. Whatisthebreakupoftheglobalwindturbinecomponentsmarketbasedonthecomponent?
6. Whatisthebreakupoftheglobalwindturbinecomponentsmarketbasedonthewindturbine type?
7. Whatisthebreakupoftheglobalwindturbinecomponentsmarketbasedonthewindfarm type?
8. Whatarethekeyregionsintheglobalwindturbinecomponentsmarket?
9. Whoarethekeyplayers/companiesintheglobalwindturbinecomponentsmarket?
Clickheretovisitthecompletetableofcontentwithlistoffiguresandtables: https://www.imarcgroup.com/wind-turbine-components-market/toc
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