Wind Turbine Components Market to grow at a CAGR of 6.76% from 2022 to 2027 | China High Speed Transmission Equipment Group Co. Ltd., CS WIND Corp., Dongfang Electric Corp., and more to emerge as key players- Technavio

NEW YORK, July 13, 2023 /PRNewswire/ — The wind turbine components market size is estimated to grow by USD 39.18 billion from 2022 to 2027. The growing competition in the market is compelling vendors to adopt various growth strategies, such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market’s competitive landscape and offers information on several market 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. The market is estimated to progress at a CAGR of 6.76% during the forecast period, according to Technavio. Download a Sample Report Now!

Wind turbine components market Insights –

• Vendors: 15+, 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, among others
• Coverage: Parent market analysis; key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: 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 America, and Middle East and Africa)

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Major Drivers – 

The rapid growth of the global wind power market is especially driving the growth of the market. Onshore wind development has opened multiple avenues for commercialization with the advent of sophisticated and innovative electronics and efficient planning and management. The advent of floating wind turbines has also paved the way for the commercialization of offshore wind power.

Commercialization of the technology has increased competition between wind turbines and nuclear and fossil power plants. Competitive pricing, the provision of sophisticated grid management, and the availability of affordable electricity storage are driving the growth of the global wind energy market. Therefore, the demand for turbine parts will increase during the forecast period.

Significant Trends – The consistently declining cost of wind power is an emerging trend influencing market growth.

Key challenges – Complications associated with materials, control, and storage challenge the growth of the wind turbine components market during the forecast period.

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The wind turbine components market report provides critical information and factual data, with a qualitative and quantitative study of the market based on market drivers and limitations as well as future prospects.

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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 market with a focus on 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 America, and 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

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The wind turbine tower market size is expected to increase by USD 7.68 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 5.35%. Furthermore, this report extensively covers wind turbine tower market segmentation by application (onshore and offshore) and geography (APAC, North America, Europe, Middle East and Africa, and South America). An increase in rotor diameter is one of the key drivers supporting the wind turbine tower market growth.

The wind energy market size is expected to increase by USD 41.75 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 7.75%. This report extensively covers the wind energy market segmentation by type (onshore and offshore) and geography (APAC, North America, Europe, South America, and the Middle East and Africa). The need for sustainable energy and increasing focus on energy security is a key factor driving the global wind energy market growth.

Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global – Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global Wind Turbine Components Market 2023-2027 2017 – 2021 
• Exhibit 18: Historic Market Size – Data Table on Global Wind Turbine Components Market 2023-2027 2017 – 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 – 2021 
• Exhibit 19: Historic Market Size – Application Segment 2017 – 2021 ($ billion)

• 4.3 Product Segment Analysis 2017 – 2021 
• Exhibit 20: Historic Market Size – Product Segment 2017 – 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 – 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 – 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 – 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 – 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis – Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition – Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments
• Exhibit 30: Chart on Application – Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application – Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Onshore – Market size and forecast 2022-2027 
• Exhibit 34: Chart on Onshore – Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Onshore – Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Onshore – Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Onshore – Year-over-year growth 2022-2027 (%)

• 6.4 Offshore – Market size and forecast 2022-2027 
• Exhibit 38: Chart on Offshore – Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Offshore – Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Offshore – Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Offshore – Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ billion)

7 Market Segmentation by Product

• 7.1 Market segments
• Exhibit 43: Chart on Product – Market share 2022-2027 (%)
• Exhibit 44: Data Table on Product – Market share 2022-2027 (%)

• 7.2 Comparison by Product 
• Exhibit 45: Chart on Comparison by Product
• Exhibit 46: Data Table on Comparison by Product

• 7.3 Wind turbine rotor blades – Market size and forecast 2022-2027 
• Exhibit 47: Chart on Wind turbine rotor blades – Market size and forecast 2022-2027 ($ billion)
• Exhibit 48: Data Table on Wind turbine rotor blades – Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Chart on Wind turbine rotor blades – Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Wind turbine rotor blades – Year-over-year growth 2022-2027 (%)

• 7.4 Wind turbine gearboxes – Market size and forecast 2022-2027 
• Exhibit 51: Chart on Wind turbine gearboxes – Market size and forecast 2022-2027 ($ billion)
• Exhibit 52: Data Table on Wind turbine gearboxes – Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Chart on Wind turbine gearboxes – Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Wind turbine gearboxes – Year-over-year growth 2022-2027 (%)

• 7.5 Wind turbine generators – Market size and forecast 2022-2027 
• Exhibit 55: Chart on Wind turbine generators – Market size and forecast 2022-2027 ($ billion)
• Exhibit 56: Data Table on Wind turbine generators – Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Chart on Wind turbine generators – Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Wind turbine generators – Year-over-year growth 2022-2027 (%)

• 7.6 Wind turbine towers – Market size and forecast 2022-2027 
• Exhibit 59: Chart on Wind turbine towers – Market size and forecast 2022-2027 ($ billion)
• Exhibit 60: Data Table on Wind turbine towers – Market size and forecast 2022-2027 ($ billion)
• Exhibit 61: Chart on Wind turbine towers – Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Wind turbine towers – Year-over-year growth 2022-2027 (%)

• 7.7 Others – Market size and forecast 2022-2027 
• Exhibit 63: Chart on Others – Market size and forecast 2022-2027 ($ billion)
• Exhibit 64: Data Table on Others – Market size and forecast 2022-2027 ($ billion)
• Exhibit 65: Chart on Others – Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Others – Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Product 
• Exhibit 67: Market opportunity by Product ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 APAC – Market size and forecast 2022-2027 
• Exhibit 73: Chart on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 74: Data Table on APAC – Market size and forecast 2022-2027 ($ billion)
• Exhibit 75: Chart on APAC – Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC – Year-over-year growth 2022-2027 (%)

• 9.4 Europe – Market size and forecast 2022-2027 
• Exhibit 77: Chart on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 78: Data Table on Europe – Market size and forecast 2022-2027 ($ billion)
• Exhibit 79: Chart on Europe – Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe – Year-over-year growth 2022-2027 (%)

• 9.5 North America – Market size and forecast 2022-2027 
• Exhibit 81: Chart on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 82: Data Table on North America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 83: Chart on North America – Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on North America – Year-over-year growth 2022-2027 (%)

• 9.6 South America – Market size and forecast 2022-2027 
• Exhibit 85: Chart on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 86: Data Table on South America – Market size and forecast 2022-2027 ($ billion)
• Exhibit 87: Chart on South America – Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America – Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa – Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 90: Data Table on Middle East and Africa – Market size and forecast 2022-2027 ($ billion)
• Exhibit 91: Chart on Middle East and Africa – Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa – Year-over-year growth 2022-2027 (%)

• 9.8 China – Market size and forecast 2022-2027 
• Exhibit 93: Chart on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 94: Data Table on China – Market size and forecast 2022-2027 ($ billion)
• Exhibit 95: Chart on China – Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China – Year-over-year growth 2022-2027 (%)

• 9.9 US – Market size and forecast 2022-2027 
• Exhibit 97: Chart on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 98: Data Table on US – Market size and forecast 2022-2027 ($ billion)
• Exhibit 99: Chart on US – Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on US – Year-over-year growth 2022-2027 (%)

• 9.10 Germany – Market size and forecast 2022-2027 
• Exhibit 101: Chart on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 102: Data Table on Germany – Market size and forecast 2022-2027 ($ billion)
• Exhibit 103: Chart on Germany – Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany – Year-over-year growth 2022-2027 (%)

• 9.11 India – Market size and forecast 2022-2027 
• Exhibit 105: Chart on India – Market size and forecast 2022-2027 ($ billion)
• Exhibit 106: Data Table on India – Market size and forecast 2022-2027 ($ billion)
• Exhibit 107: Chart on India – Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on India – Year-over-year growth 2022-2027 (%)

• 9.12 Spain – Market size and forecast 2022-2027 
• Exhibit 109: Chart on Spain – Market size and forecast 2022-2027 ($ billion)
• Exhibit 110: Data Table on Spain – Market size and forecast 2022-2027 ($ billion)
• Exhibit 111: Chart on Spain – Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Spain – Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

11 Vendor Landscape

• 11.2 Vendor landscape
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 China High Speed Transmission Equipment Group Co. Ltd. 
• Exhibit 120: China High Speed Transmission Equipment Group Co. Ltd. – Overview
• Exhibit 121: China High Speed Transmission Equipment Group Co. Ltd. – Product / Service
• Exhibit 122: China High Speed Transmission Equipment Group Co. Ltd. – Key offerings

• 12.4 CS WIND Corp.
• Exhibit 123: CS WIND Corp. – Overview
• Exhibit 124: CS WIND Corp. – Product / Service
• Exhibit 125: CS WIND Corp. – Key offerings

• 12.5 Dongfang Electric Corp. 
• Exhibit 126: Dongfang Electric Corp. – Overview
• Exhibit 127: Dongfang Electric Corp. – Product / Service
• Exhibit 128: Dongfang Electric Corp. – Key offerings

• 12.6 Emergya Wind Technologies BV 
• Exhibit 129: Emergya Wind Technologies BV – Overview
• Exhibit 130: Emergya Wind Technologies BV – Product / Service
• Exhibit 131: Emergya Wind Technologies BV – Key offerings

• 12.7 EnBW Energie Baden Wurttemberg AG 
• Exhibit 132: EnBW Energie Baden Wurttemberg AG – Overview
• Exhibit 133: EnBW Energie Baden Wurttemberg AG – Business segments
• Exhibit 134: EnBW Energie Baden Wurttemberg AG – Key offerings
• Exhibit 135: EnBW Energie Baden Wurttemberg AG – Segment focus

• 12.8 ENERCON GmbH
• Exhibit 136: ENERCON GmbH – Overview
• Exhibit 137: ENERCON GmbH – Product / Service
• Exhibit 138: ENERCON GmbH – Key offerings

• 12.9 Envision Group
• Exhibit 139: Envision Group – Overview
• Exhibit 140: Envision Group – Product / Service
• Exhibit 141: Envision Group – Key offerings

• 12.10 Flender GmbH
• Exhibit 142: Flender GmbH – Overview
• Exhibit 143: Flender GmbH – Product / Service
• Exhibit 144: Flender GmbH – Key offerings

• 12.11 General Electric Co.
• Exhibit 145: General Electric Co. – Overview
• Exhibit 146: General Electric Co. – Business segments
• Exhibit 147: General Electric Co. – Key news
• Exhibit 148: General Electric Co. – Key offerings
• Exhibit 149: General Electric Co. – Segment focus

• 12.12 ISHIBASHI Manufacturing Co. Ltd. 
• Exhibit 150: ISHIBASHI Manufacturing Co. Ltd. – Overview
• Exhibit 151: ISHIBASHI Manufacturing Co. Ltd. – Product / Service
• Exhibit 152: ISHIBASHI Manufacturing Co. Ltd. – Key offerings

• 12.13 Max Bogl Wind AG
• Exhibit 153: Max Bogl Wind AG – Overview
• Exhibit 154: Max Bogl Wind AG – Product / Service
• Exhibit 155: Max Bogl Wind AG – Key offerings

• 12.14 Ming Yang Smart Energy Group Ltd. 
• Exhibit 156: Ming Yang Smart Energy Group Ltd. – Overview
• Exhibit 157: Ming Yang Smart Energy Group Ltd. – Product / Service
• Exhibit 158: Ming Yang Smart Energy Group Ltd. – Key offerings

• 12.15 Siemens AG
• Exhibit 159: Siemens AG – Overview
• Exhibit 160: Siemens AG – Business segments
• Exhibit 161: Siemens AG – Key news
• Exhibit 162: Siemens AG – Key offerings
• Exhibit 163: Siemens AG – Segment focus

• 12.16 Sinoma Science and Technology Co. Ltd. 
• Exhibit 164: Sinoma Science and Technology Co. Ltd. – Overview
• Exhibit 165: Sinoma Science and Technology Co. Ltd. – Product / Service
• Exhibit 166: Sinoma Science and Technology Co. Ltd. – Key offerings

• 12.17 Suzlon Energy Ltd.
• Exhibit 167: Suzlon Energy Ltd. – Overview
• Exhibit 168: Suzlon Energy Ltd. – Business segments
• Exhibit 169: Suzlon Energy Ltd. – Key offerings
• Exhibit 170: Suzlon Energy Ltd. – Segment focus

13 Appendix

• 13.2 Inclusions and exclusions checklist 
• Exhibit 171: Inclusions checklist
• Exhibit 172: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 173: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 174: Research methodology
• Exhibit 175: Validation techniques employed for market sizing
• Exhibit 176: Information sources

• 13.5 List of abbreviations 
• Exhibit 177: List of abbreviations

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