The significant factors contributing to the growth of the wind turbine components market include the accelerating demand for renewable energy, the increasing usage in electricity applications around the world, and the growing acceptance for offshore applications. Additionally, the rapid industrialization and increasing urbanization in emerging countries are projected to surge the demand of the market over the coming years. The wind turbines offer numerous remarkable benefits such as high working efficiency, long life span, low development cost, the minimum cost of maintenance, and easy installation. The combinations of these features are responsible for the expansion of the wind turbine components market size.

The fluctuation in the prices of natural gas and crude oil is expected to boost the demand for renewable fuel sources, which in turn, will surge the growth of the market. On the other edge, the turbine installation requires large land for installation is likely to restrain the growth of the global wind turbine components market.

Competitive Landscape

The notable players in the wind turbine components market include Goldwind, Vestas, Nordex SE, Enercon GmbH, Mingyang Smart Energy Group Co., Ltd., Sinovel Wind Group Co., Ltd., General Electric, Suzlon Energy Limited, Siemens Gamesa Renewable Energy, S.A., and Guodian United Power Technology Company Ltd., among others.

Market Segmentation

Wind Turbine Components Market by Components:

Rotator Blade
Gearbox
Generator
Nacelle
Base
Tower

Wind Turbine Components Market by Application:

Onshore
Offshore

Wind Turbine Components Market by Region:

North America
o United States of America

o Canada

Asia Pacific
o China

o Japan

o India

o Rest of APAC

Europe
o United Kingdom

o Germany

o France

o Spain

o Rest of Europe

RoW
o Brazil

o South Africa

o Saudi Arabia

o UAE

o Rest of the world (remaining countries of the LAMEA region)

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