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Global Wind Turbine Components Market 2016-2020

Global Wind Turbine Components Market 2016-2020

About Wind Turbine Components

Wind turbines harness the power of the wind to generate electricity. The energy present in the wind turns the blades around a rotor, which is connected to the main shaft that spins a generator to create electricity. Conventional power generation is gradually losing its sheen owing to growing environmental awareness. Renewable energy such as the wind and solar have gained popularity worldwide.

Technavio’s analysts forecast the global wind turbine components market to grow at a CAGR of 12% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global wind turbine components market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market. The vendors included in the report are component manufacturers and suppliers.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Wind Turbine Components Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • GE Renewable Energy
  • Goldwind
  • Siemens
  • Suzlon
  • Vestas
Other prominent vendors
  • Enercon
  • Gamesa
  • LM wind power
  • MFG
  • Nordex
  • Senvion SE
  • TPI
Market driver
  • Expansion in offshore wind installations
  • For a full, detailed list, view our report
Market challenge
  • High failure rate of wind turbine components
  • For a full, detailed list, view our report
Market trend
  • Increased R&D
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Wind Turbine Components Market 2016-2020

Technavio recognizes the following companies as the key players in the Global Wind Turbine Components Market: GE Renewable Energy, Goldwind, Siemens, Suzlon, and Vestas.

Other Prominent Vendors in the market are: Enercon, Gamesa, LM wind power, MFG, Nordex, Senvion SE, and TPI.

Commenting on the report, an analyst from Technavio’s team said: “Companies worldwide are keen on bringing innovative products to the global wind turbine components market. Vendors are investing in R&D to reduce the weight of the rotor blades and increase the height of the wind turbine tower. For instance, Siemens has manufactured a blade, which is made of glass fiber-reinforced epoxy resin and balsa wood. The process used to manufacture the blade is a patented integral blade process. These blades do not have glued joints, seams, or adhesives that reduce the overall weight of the blade.”

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.

Further, the report states that the reliability of wind turbines is a pre-requisite for the effective generation of power from wind energy. Any failure of components will negatively affect the functioning of the entire system.

Companies Mentioned

GE Renewable Energy, Goldwind, Siemens, Suzlon, Vestas, Enercon, Gamesa, LM wind power, MFG, Nordex, Senvion SE, TPI.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table Global investments in wind energy sector for 2012-2014 11($ billions)
      • Table Worldwide wind capacity for 2010-2015 (GW)
    • Cost breakdown of wind turbine components
      • Table Cost breakdown of wind turbine components
      • Table Cost comparison of electricity generated by various energy sources
  • Market landscape
    • Technological overview
    • Market overview
      • Table Segmentation of global wind turbine components market
    • Market size and forecast by revenue
      • Table Global wind turbine components market 2015-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by wind turbine components
    • Global wind turbine components market by components
      • Table Global wind turbine components market by components 2015 and 2020
      • Table Global wind turbine components market by components 2015-2020
    • Global wind tower market
      • Table Global wind turbine components market by tower segment 2015-2020 ($ billions)
    • Global wind turbine rotor blade market
      • Table Global wind turbine components market by rotor blade segment 2015-2020 ($ billions)
    • Global wind turbine gearbox market
      • Table Global wind turbine components market by gear box segment 2015-2020 ($ billions)
    • Global wind turbine generator market
      • Table Global wind turbine components market by generator segment 2015-2020 ($ billions)
      • Table Characteristics of various types of generators
  • Geographical segmentation
    • Global wind turbine components market by geography
      • Table Global wind turbine components market by geography 2015-2020
      • Table Global wind turbine components market by geographical segmentation 2015-2020
    • Wind turbine components market in APAC
      • Table Wind turbine components market in APAC 2015-2020 ($ billions)
      • Table Total installed capacity 2009-2014 (MW)
    • Wind turbine components market EMEA
      • Table Wind turbine components market in EMEA 2015-2020 ($ billions)
      • Table Total installed capacity 2009-2014 (MW)
    • Wind turbine components market in Americas
      • Table Wind turbine components market in Americas 2015-2020 ($ billions)
      • Table Total installed capacity 2009-2014 (MW)
  • Market drivers
    • Expansion in offshore wind installations
      • Table Offshore wind farms
    • Rise in wind energy consumption
      • Table Trend of global wind energy consumption 2010-2015 (TWh)
      • Table Wind power installation country wise for 2015 (in MW)
    • Growing environmental concerns
      • Table Estimated annual CO emissions 2015-2030 (millions of tons)
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • High failure rate of wind turbine components
      • Table Chances of wind turbine failure due to component malfunction
    • Potential risk to environment
    • High cost of offshore wind installations
      • Table Comparison of capital cost breakdown for onshore and offshore wind power installations in developed countries
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Increased R&D
    • Impact of government incentives on wind turbine installations
      • Table Impact of tax credit on US wind deployment 2010-2014 (MW)
    • Increased adoption of carbon emission trading
  • Vendor landscape
    • Competitive landscape
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • GE Renewable Energy
      • Table Wind turbine components in GE Renewable Energy
    • Goldwind
      • Table Wind turbine components in Goldwind
      • Table Wind turbine component product portfolio
    • Siemens
      • Table Siemens: Product overview
    • Suzlon Energy
      • Table Suzlon Energy: Product overview
      • Table Suzlon Energy: Revenue/net income by 2014 and 2015
      • Table Suzlon Energy: Net margin by R&D expenses 2014 and 2015
    • Vestas
      • Table Vestas: Product overview
      • Table Wind turbine product portfolio
  • Appendix
    • List of abbreviations
  • Explore Technavio

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