Wind turbine components market: Growth opportunities led by China High-Speed ​​Transmission Equipment Group Co. Ltd., CS WIND Corp., Dongfang Electric Corp

NEW YORK, Jan. 9, 2023 /PRNewswire/ — The wind turbine components market size is forecast to increase by USD 39.18 billion from 2022 to 2027, at a CAGR of 6.76%, according to the recent market study by Technavio. The growth of the market will be driven by the rapid growth of the global wind power market, rising investments in clean sources of energy, and the presence of regulations that encourage power generation from renewable sources.

Technavio has announced its latest market research report titled Global Wind Turbine Components Market 2023-2027

Technavio categorizes the global wind turbine components market as part of the global renewable electricity market within the global independent power and renewable electricity market. The parent global renewable electricity market covers companies engaged in generating and distributing electricity using renewable sources. The global independent power and renewable electricity market size includes combined revenue generated by companies involved in the generation and distribution of independent power producers, gas and power marketing and trading specialists, and/or integrated energy merchants and renewable electricity. The market also includes manufacturers of raw materials and equipment used in the solar power market.

Charts & data tables about market and segment sizes for a historic period of five (2017-
2021) years have been covered in this report. Download the Sample Report

The market is segmented by application (onshore and offshore), product (wind turbine rotor blades, wind turbine gearboxes, wind turbine generators, wind turbine towers, and others), and geography (APAC, Europe, North America, South Americaand Middle East and Africa).

Segmentation by application (onshore and offshore)

  • Onshore: The market share growth by the onshore segment will be significant during the forecast period. The onshore market is expanding due to the advancements that have made advanced technologies commercially viable as well as the decreased cost of energy produced by onshore wind power projects. The growth of the sector is partly driven by government funding for onshore wind farms. In addition to other market-based processes like tenders, auctions, and green certificates, the new installations were driven by a number of support mechanisms like the feed-in tariff and production tax credit. These factors are driving the focused market during the forecast period.

To get detailed insights about inclusions and exclusions, buy the report

Technavio has extensively analyzed 15 major vendors, including China High-Speed ​​Transmission Equipment Group Co. Ltd., CS WIND Corp., Dongfang Electric Corp., Emergya Wind Technologies BV, EnBW Energie Baden Wurttemberg AG, ENERCON GmbH, Envision Group, Flender GmbH, General Electric Co., ISHIBASHI Manufacturing Co. Ltd., Max Bogl Wind AG, Ming Yang Smart Energy Group Ltd., Sinoma Science and Technology Co. Ltd., Suzlon Energy Ltd., TPI Composites Inc., Vestas Wind Systems AS, XEMC Darwind BV, Xinjiang Goldwind Science and Technology Co. Ltd., ZF Friedrichshafen AG, and Siemens AG

Key benefits for industry players & stakeholders –

  • The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.

  • It also provides detailed analyzes of the market’s competitive landscape and vendors’ product offerings.

  • The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Expand operations in the future – To get requisite details, ask for a custom report.

Customer landscape – Analysis of price sensitivity, adoption lifecycle, customer purchase basket, adoption rates, and purchase criteria by Technavio

  • One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.

  • Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.

  • Furthermore, market adoption rates for all regions have been covered.

Get a holistic overview of the wind turbine components market from industry experts to
evaluate and develop growth strategies. Download the Sample

Related Reports:

Offshore Wind Power Market by Type, Product Type and Geography – Forecast and Analysis 2023-2027: The offshore wind power market is estimated to grow at a CAGR of 17.59% between 2022 and 2027. The size of the market is forecast to increase by USD 30,744.65 million. The rise in global energy demand is notably driving the market growth, although factors such as competition from alternative energy sources may impede the market growth.

Portable Power Station Market by Application, Technology, and Geography – Forecast and Analysis 2023-2027: The portable power station market is estimated to grow at a CAGR of 8.59% between 2022 and 2027. The size of the market is forecast to increase by USD 179.21 million. The growing demand for uninterrupted and reliable power during power outages is notably driving the portable power station market growth, although factors such as long charging times for solar-powered portable power stations may impede market growth.

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What are the key data covered in this wind turbine components market report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the wind turbine components market between 2023 and 2027

  • Precise estimation of the size of the wind turbine components market and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the wind turbine components market across APAC, Europe, North America, South Americaand Middle East and Africa

  • A thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of wind turbine components market vendors

Wind Turbine Components Market Scope

Report Coverage

Details

Page number

174

Base year

2022

Historical period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6.76%

Market growth 2023-2027

USD 39.18 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.93

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 56%

Key countries

US, China, India, Germany, and Spain

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

China High Speed ​​Transmission Equipment Group Co. Ltd., CS WIND Corp., Dongfang Electric Corp., Emergya Wind Technologies BV, EnBW Energie Baden Wurttemberg AG, ENERCON GmbH, Envision Group, Flender GmbH, General Electric Co., ISHIBASHI Manufacturing Co. Ltd., Max Bogl Wind AG, Ming Yang Smart Energy Group Ltd., Sinoma Science and Technology Co. Ltd., Suzlon Energy Ltd., TPI Composites Inc., Vestas Wind Systems AS, XEMC Darwind BV, Xinjiang Goldwind Science and Technology Co. Ltd., ZF Friedrichshafen AG, and Siemens AG

Market dynamics

Parent Market Analysis; Market growth inducers and obstacles; Fast-growing and slow-growing segment analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get customized segments.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get customized segments.

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Table of Contents

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Application

7 Market Segmentation by Product

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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Website: www.technavio.com/

Global Wind Turbine Components Market 2023-2027

Global Wind Turbine Components Market 2023-2027

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