The global wind turbine components market includes companies operating in a wide range of product portfolio. Each category has some well-established key players and owing to different markets in which they operate and compete it is not feasible to determine key five players in the overall wind turbine components market. However, based on parameters such as overall revenue, brand image, current wind turbine components product portfolio, geographic reach, customer base, technology adoption & integration, new product/service/feature launches, partnerships, mergers & acquisitions, and other market-related activities, we have listed above five key players operating at a global level.
Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, TPI Composites Inc, Nordex SE, and Goldwind – Prominent Market Participants in Wind Turbine Components Market
Vestas Wind Systems AS, Siemens Gamesa Renewable Energy SA, TPI Composites Inc, Nordex SE, and Goldwind are the five key market players operating in the global wind turbine components market. In addition to these players, multiple other leading global, regional & local market players, emerging companies, market disruptors and niche market players were studied and analyzed during the course of this study to gather a holistic view of the market. The high and fast-growing number of start-ups in this market are anticipated to drive the growth of the market over the forecast period of 2022 to 2028.
Geographically, the wind turbine components market is broadly segmented into five major regions—North America, Europe, APAC, MEA, and SAM. In 2021, APAC held the largest share in the wind turbine components market, followed by Europe and North America. According to the Global Wind Energy Council, 30 wind turbine manufacturers installed ~29,234 wind turbines worldwide in 2021. Vestas contributed to 17.7% of the new installations, followed by Goldwind acquiring 11.8%, and Siemens Gamesa has 9.7% global market share.
In APAC, China is the largest manufacturer of wind turbine components. In 2021, the country contributed around 55.8 GW of the new installation, which is 56% of the global total. Out of 55.8 GW, 41.6 GW was onshore installation, and 14.2 GW was offshore installation. China’s new offshore wind additions in 2021 were 2.5 times that in 2020, which represents 84% of the global offshore wind. In addition, Vietnam contributed ~3.6 GW of the new installation in 2021. Also, the country is one of the major importers of wind generators and parts to the US. Vietnam contributes around 39% of the wind generators and parts imported into the US. Moreover, India has a new installation of 1.4 GW in 2021. The country exported wind towers, wind blades, and hubs worth US$ 455 million to the US in 2021. Thus, the growing manufacturing and installation of wind turbines in the region will further propel the market growth during the forecast period.The top five companies in the aircraft ignition system market are Champion Aerospace Inc, FADEC International LLC, Meggitt SA, Kelly Aerospace Inc, and Continental Aerospace Technologies Inc. The above listing of key players is derived by considering multiple factors such as overall market insights, dynamic trends, revenue, current aircraft ignition system portfolio, new product launches, market initiatives, investment in technology up-gradation, mergers & acquisitions, and other joint activities. A few of the important market initiatives and product developments from the industry are mentioned below:
| Year | News | Country |
| 2021 | WIND power company Siemens Gamesa has launched a recyclable wind turbine blade for commercial offshore use. The company has made agreements with renewable energy companies for installations. | Europe |
| 2021 | Vestas introduces the V162-6.8 MW wind turbine of the EnVentus platform, to lead the expansion of wind energy and leveraging modular product development to offer enhanced customization for medium to high wind sites. | Europe |
| 2020 | Siemens Gamesa Renewable Energy has launched its next-generation wind turbine, the SG 3.4-145, in India. | APAC |
