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Power & Energy
The global fossil fuel dependency is expected to cause significant social and economic fluctuations. An economy that is based on fossil fuel is highly unsustainable. The efforts taken to reduce such an impact and reduce its usage and dependence has paved way for alternate and renewable sources of energy. Alternate sources, such as wind energy, is one of the most sought after options since it is the least expensive power generating option. Increasing number of locations for capacity additions in newer markets such as Africa, Asia, Central, and South America is driving the wind power generation. Both onshore and offshore wind power generation have contributed to the improvement of wind energy's economics in varied operating conditions and wind regimes.
Market Analysis and Insights: Global Wind Turbine Components Market
Due to the COVID-19 pandemic, the global Wind Turbine Components market size is estimated to be worth US$ 135710 million in 2022 and is forecast to a readjusted size of US$ 175510 million by 2028 with a CAGR of 4.4% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Generator accounting for % of the Wind Turbine Components global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Offshore Wind Energy segment is altered to an % CAGR throughout this forecast period.
According to the report, the offshore wind is consistent and powerful, and has higher wind speed and fewer environmental concerns. Offshore wind projects are suitable for large-scale development that can lead to increased demand for wind turbine components. Also, floating turbine is another prospect for the future, which will significantly contribute to wind installation. A floating wind turbine is an offshore wind turbine that is mounted on a structure and can float in the ocean, thereby allowing for wind power generation in difficult ocean terrains.
Global Wind Turbine Components Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Wind Turbine Components Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Generator
Nacelle
Tower
Rotor Blades
Others
Segment by Application
Offshore Wind Energy
Onshore Wind Energy
By Company
GE Renewable Energy
Goldwind
Siemens
Suzlon
Vestas
Enercon
Siemens(Gamesa)
LM Wind Power
MFG
Nordex
Senvion
TPI
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Market Analysis and Insights: Global Wind Turbine Components Market
Due to the COVID-19 pandemic, the global Wind Turbine Components market size is estimated to be worth US$ 135710 million in 2022 and is forecast to a readjusted size of US$ 175510 million by 2028 with a CAGR of 4.4% during the forecast period 2022-2028. Fully considering the economic change by this health crisis, Generator accounting for % of the Wind Turbine Components global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While Offshore Wind Energy segment is altered to an % CAGR throughout this forecast period.
According to the report, the offshore wind is consistent and powerful, and has higher wind speed and fewer environmental concerns. Offshore wind projects are suitable for large-scale development that can lead to increased demand for wind turbine components. Also, floating turbine is another prospect for the future, which will significantly contribute to wind installation. A floating wind turbine is an offshore wind turbine that is mounted on a structure and can float in the ocean, thereby allowing for wind power generation in difficult ocean terrains.
Global Wind Turbine Components Market: Drivers and Restrains
The research report has incorporated the analysis of different factors that augment the market’s growth. It constitutes trends, restraints, and drivers that transform the market in either a positive or negative manner. This section also provides the scope of different segments and applications that can potentially influence the market in the future. The detailed information is based on current trends and historic milestones. This section also provides an analysis of the volume of production about the global market and about each type from 2017 to 2028. This section mentions the volume of production by region from 2017 to 2028. Pricing analysis is included in the report according to each type from the year 2017 to 2028, manufacturer from 2017 to 2022, region from 2017 to 2022, and global price from 2017 to 2028.
A thorough evaluation of the restrains included in the report portrays the contrast to drivers and gives room for strategic planning. Factors that overshadow the market growth are pivotal as they can be understood to devise different bends for getting hold of the lucrative opportunities that are present in the ever-growing market. Additionally, insights into market expert’s opinions have been taken to understand the market better.
Global Wind Turbine Components Market: Segment Analysis
The research report includes specific segments by region (country), by manufacturers, by Type and by Application. Each type provides information about the production during the forecast period of 2017 to 2028. by Application segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.
Segment by Type
Generator
Nacelle
Tower
Rotor Blades
Others
Segment by Application
Offshore Wind Energy
Onshore Wind Energy
By Company
GE Renewable Energy
Goldwind
Siemens
Suzlon
Vestas
Enercon
Siemens(Gamesa)
LM Wind Power
MFG
Nordex
Senvion
TPI
Production by Region
North America
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Frequently Asked Questions
This market study covers the global and regional market with an in-depth analysis of the overall growth prospects in the market. Furthermore, it sheds light on the comprehensive competitive landscape of the global market. The report further offers a dashboard overview of leading companies encompassing their successful marketing strategies, market contribution, recent developments in both historic and present contexts.
- By product type
- By End User/Applications
- By Technology
- By Region
The report provides a detailed evaluation of the market by highlighting information on different aspects which include drivers, restraints, opportunities, and threats. This information can help stakeholders to make appropriate decisions before investing.
