Global Wind Turbine Components Market 2018-2022
About this market
Advent of wind-solar hybrid plants with battery storage to gain traction in the market. Several countries have been promoting the establishment of wind-solar hybrid plants. Such plants have solar panels and windmills. Technavio’s analysts have predicted that the wind turbine components market will register a CAGR of almost 5% by 2022.
Rapid growth of global wind power market
The growth of the global wind power is driven by Europe and China and the growth of the offshore sector.
Complications associated with materials, control, and storage
Imbalance across various regions is a complication associated with material availability. The availability of different renewable resources of energy is unevenly distributed, which will pose as a major threat to the market.
For the detailed list of factors that will drive and challenge the growth of the wind turbine components market during the 2018-2022, view our report.
The market appears to be fragmented and with the presence of several companies including GENERAL ELECTRIC and Nordex the competitive environment is quite intense. Factors such as the advent of wind-solar hybrid plants with battery storage and the rapid growth of global wind power market, will provide considerable growth opportunities to wind turbine components manufactures. GENERAL ELECTRIC, Nordex, Senvion, Siemens Gamesa Renewable Energy, Vestas, and Xinjiang Goldwind Science & Technology are some of the major companies covered in this report.
Technavio Announces the Publication of its Research Report – Global wind turbine components Market 2018-2022
Technavio recognizes the following companies as the key players in the global wind turbine components market: GENERAL ELECTRIC, Nordex, Senvion, Siemens Gamesa Renewable Energy, Vestas, and Xinjiang Goldwind Science & Technology.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the advent of wind-solar hybrid plants with battery storage.”
According to the report, one of the major drivers for this market is the rapid growth of global wind power market.
Siemens Gamesa Renewable Energy
and Xinjiang Goldwind Science & Technology
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