Authored By: Sarah
11 Nov 2021

Wind Turbine Components: Top Drivers that will Enable COVID-19 Recovery

Synopsis of Growth Drivers with Market Forecast 2021-2025

The Global Wind Turbine Components Market is projected to grow by $ 27.72 bn, accelerating at a CAGR of over 5% till 2025. This research report delineates the growth drivers that will boost market growth along with a detailed analysis of the market segments, trends and challenges that are likely to impact market growth.


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Wind Turbine Components Market: Top Drivers for Growth

^A detailed study of market drivers enables market players to leverage these factors to drive growth. Technavio’s research reports provide a comprehensive analysis of all the other factors that will drive market growth during the forecast period. In addition to market drivers, our research report also studies the latest trends and challenges that are likely to influence growth in the current market scenario. One of the key drivers that will boost this market is Rapid growth of global wind power market. For more insights on the impact of this and all the other drivers, request for our FREE sample report:

Top Drivers for Wind Turbine Components Market Size to Grow by $ 27.72 bn During 2021-2025

Wind Turbine Components Market: Growth Segments

This research report provides insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges on each market segment along with insights into the way forward. These insights will equip clients with information that will help them design a growth strategy for their business and area of operation. Wind Turbine Components Market is segmented by Application (Onshore and Offshore), Geography (APAC, Europe, North America, South America, and MEA), and Product (Wind turbine towers, Wind turbine rotor blades, Wind turbine gearboxes, Wind turbine generators, and Others). Request our Free Sample Report

Wind Turbine Components Market: Dongfang Electric Corp., General Electric Co., ISHIBASHI Manufacturing Co. Ltd., Mingyang Smart Energy Group Co. Ltd., Siemens AG, Sinoma Science & Technology Co. Ltd., Suzlon Energy Ltd., Vestas Wind System AS, Xinjiang Goldwind Science & Technology Co. Ltd., and ZF Friedrichshafen AG are some of the leading competitors

The Wind Turbine Components Market is fragmented and market growth of the depends on market conditions, government support, and industry development. Our report offers a detailed study of all the factors that can influence growth. Dongfang Electric Corp., General Electric Co., ISHIBASHI Manufacturing Co. Ltd., Mingyang Smart Energy Group Co. Ltd., Siemens AG, Sinoma Science & Technology Co. Ltd., Suzlon Energy Ltd., Vestas Wind System AS, Xinjiang Goldwind Science & Technology Co. Ltd., and ZF Friedrichshafen AG are some of the major market participants. The report also provides insights into the growth prospects of each of these leading players along with their product pipelines.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 5%.
     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 27.72 bn through 2021-2025.
     
  3. What is a key factor driving this market?
    Rapid growth of global wind power market will drive market growth over the forecast period.
     
  4. What are the key regions covered in this market research report?
    APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
     
  5. Which is the leading geographic region for this market:
    58% growth will originate from APAC
     
  6. Who are the leading market vendors?
    The leading vendors in this market are Dongfang Electric Corp., General Electric Co., ISHIBASHI Manufacturing Co. Ltd., Mingyang Smart Energy Group Co. Ltd., Siemens AG, Sinoma Science & Technology Co. Ltd., Suzlon Energy Ltd., Vestas Wind System AS, Xinjiang Goldwind Science & Technology Co. Ltd., and ZF Friedrichshafen AG
     
  7. What are the market segments covered in this report?
    The market is segmented by Application (Onshore and Offshore), Geography (APAC, Europe, North America, South America, and MEA), and Product (Wind turbine towers, Wind turbine rotor blades, Wind turbine gearboxes, Wind turbine generators, and Others)

Wind Turbine Components: Top Drivers that will Enable COVID-19 Recovery

Growth Drivers and Market Forecast for 2021-2025

The Global Wind Turbine Components Market is projected to grow by $ 27.72 bn, accelerating at a CAGR of over 5% till 2025. This research report delineates the growth drivers that will boost market growth along with a detailed analysis of the market segments, trends and challenges that are likely to impact market growth.


Request for our free sample report to get a glimpse into our exhaustive research and analysis: Download FREE Sample Report


Wind Turbine Components Market: Key Market Drivers

^A detailed study of market drivers enables market players to leverage these factors to drive growth. Technavio’s research reports provide a comprehensive analysis of all the other factors that will drive market growth during the forecast period. In addition to market drivers, our research report also studies the latest trends and challenges that are likely to influence growth in the current market scenario. One of the key drivers that will boost this market is Rapid growth of global wind power market. For more insights on the impact of this and all the other drivers, request for our FREE sample report:

Top Drivers for Wind Turbine Components Market Size to Grow by $ 27.72 bn During 2021-2025

Wind Turbine Components Market: Segments and Geographical Regions

This report provides a detailed analysis of the market by Application (Onshore and Offshore), Geography (APAC, Europe, North America, South America, and MEA), and Product (Wind turbine towers, Wind turbine rotor blades, Wind turbine gearboxes, Wind turbine generators, and Others). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges on each market segment along with insights into the way forward. These insights will equip clients with information that will help them design a growth strategy for their business and area of operation. Request our Free Sample Report 

Wind Turbine Components Market: Vendor Analysis

The market is fragmented, and the growth of the players depends on several factors such as market conditions, government support, and industry development. Marke players must distinguish their product and service offerings through a clear and unique value proposition to prosper in this competitive market.  Dongfang Electric Corp., General Electric Co., ISHIBASHI Manufacturing Co. Ltd., Mingyang Smart Energy Group Co. Ltd., Siemens AG, Sinoma Science & Technology Co. Ltd., Suzlon Energy Ltd., Vestas Wind System AS, Xinjiang Goldwind Science & Technology Co. Ltd., and ZF Friedrichshafen AG are some of the major market participants. The report offers a detailed analysis of each of the above-listed vendors and their product portfolio.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 5%.
     
  2. What is the incremental growth of the market?
    The market is expected to grow by $ 27.72 bn through 2021-2025.
     
  3. What is a key factor driving this market?
    Rapid growth of global wind power market will drive market growth over the forecast period.
     
  4. What are the key regions covered in this market research report?
    APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
     
  5. Which is the leading geographic region for this market:
    58% growth will originate from APAC
     
  6. Who are the leading market vendors?
    The leading vendors in this market are Dongfang Electric Corp., General Electric Co., ISHIBASHI Manufacturing Co. Ltd., Mingyang Smart Energy Group Co. Ltd., Siemens AG, Sinoma Science & Technology Co. Ltd., Suzlon Energy Ltd., Vestas Wind System AS, Xinjiang Goldwind Science & Technology Co. Ltd., and ZF Friedrichshafen AG
     
  7. What are the market segments covered in this report?
    The market is segmented by Application (Onshore and Offshore), Geography (APAC, Europe, North America, South America, and MEA), and Product (Wind turbine towers, Wind turbine rotor blades, Wind turbine gearboxes, Wind turbine generators, and Others)

Wind Turbine Components Market Size to Grow by $ 27.72 bn During 2021-2025

Technavio has been monitoring the wind turbine components market and it is expected to grow by $ 27.72 bn, accelerating at a CAGR of almost 5% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking


Wind Turbine Components Market: Receive Free Sample Report


Wind Turbine Components Market: APAC to lead market growth during the forecast period

  • 58% of the market growth will originate from APAC during the forecast period.
  • Consistently declining cost of wind power will be a key trend that will influence market growth significantly.
  • The Rapid growth of global wind power market will be a significant factor in driving the growth of the wind turbine components market.

Top Drivers for Wind Turbine Components Market Size to Grow by $ 27.72 bn During 2021-2025

Wind Turbine Components Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Dongfang Electric Corp., General Electric Co., ISHIBASHI Manufacturing Co. Ltd., Mingyang Smart Energy Group Co. Ltd., Siemens AG, Sinoma Science & Technology Co. Ltd., Suzlon Energy Ltd., Vestas Wind System AS, Xinjiang Goldwind Science & Technology Co. Ltd., and ZF Friedrichshafen AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

For more insights on this market: Download a Free Sample Report

Wind Turbine Components Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive wind turbine components market growth during the next five years
  • Precise estimation of the wind turbine components market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the wind turbine components market industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of wind turbine components market vendors

The wind turbine components market size has the potential to grow by USD 27.72 billion during 2021-2025, and the market’s growth momentum will accelerate during the forecast period.

This report provides a detailed analysis of the market by application (onshore and offshore), product (wind turbine towers, wind turbine rotor blades, wind turbine gearboxes, wind turbine generators, and others), and geography (APAC, Europe, North America, South America, and MEA). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Dongfang Electric Corp., General Electric Co., ISHIBASHI Manufacturing Co. Ltd., Mingyang Smart Energy Group Co. Ltd., Siemens AG, Sinoma Science & Technology Co. Ltd., Suzlon Energy Ltd., Vestas Wind System AS, Xinjiang Goldwind Science & Technology Co. Ltd., and ZF Friedrichshafen AG.


Wind Turbine Components Market: Receive FREE Sample Report


APAC to lead market growth during the forecast period

  • The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. APAC will offer several growth opportunities to market vendors during the forecast period. The consistently declining cost of wind power, the advent of wind-solar hybrid plants with battery storage, and the popularity of offshore wind farms will significantly influence wind turbine components market's growth in this region.
  • 58% of the market growth will originate from APAC during the forecast period. China and India are the key markets for wind turbine components in APAC. This report provides an accurate prediction of the contribution of all segments to the growth of the wind turbine components market size.
  • Factors such as 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 will offer immense growth

Top Drivers for Wind Turbine Components Market Size to Grow by $ 27.72 bn During 2021-2025

Wind Turbine Components Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Dongfang Electric Corp., General Electric Co., ISHIBASHI Manufacturing Co. Ltd., Mingyang Smart Energy Group Co. Ltd., Siemens AG, Sinoma Science & Technology Co. Ltd., Suzlon Energy Ltd., Vestas Wind System AS, Xinjiang Goldwind Science & Technology Co. Ltd., and ZF Friedrichshafen AG are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19 Download a Free Sample Report 

Wind Turbine Components Market: Key Highlights of the Report for 2021-2025

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive Wind Turbine Components Market growth during the next five years
  • Precise estimation of the wind turbine components market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the industry across APAC, Europe, North America, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of Wind turbine components market vendors
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