The Europe wind turbine componentsmarket is expected to grow from US$ 25,342.69 million in 2022 to US$ 35,648.67 million by 2028. It is estimated to grow at a CAGR of 5.9% from 2022 to 2028.
Rising Number of Wind Farms is fueling the growth of Europe wind turbine components market
The re is an increase in demand for a clean energy source as it eliminates greenhouse gases, reduces dependence on imported fuels, and diversifies the energy supply. This is fueling government investments in the construction of wind farms across the region. In the UK, wind power is one of the largest sources of renewable electricity, which is expected to grow more in the coming years. According to the Office for National Statistics, the electricity generation from wind power has increased by 715% from 2009 to 2020 in the UK. Also, according to the National Grid, in 2020, Britain recorded high levels of wind energy generation, making it the greenest year on record. Furthermore, various new wind farm construction activities are going on in the UK to increase electricity generation through wind energy. For instance, in September 2022, Danish energy firm Orsted announced that Hornsea 2 offshore wind farm, the world's biggest offshore wind farm, started its operation. The wind farm consists of 165 turbine sets, which can help to provide power to more than 1.4 million the UK homes. As the investment in wind farms is rising, the demand for various wind turbine components such as rotor blades, nacelle, gearbox, generator, tower, and pitch system is also increasing, catalyzing the growth of Europe wind turbine components market.Europe Wind Turbine Components Market Overview
Germany, France, Italy, Russia, and the UK are among the major countries in Europe. The growing effects of global warming and climate change have made companies develop more sustainable products. The need for a newer and cleaner energy source is fueling the demand for wind energy, which drives the market growth over the forecasted period. Decline in the cost of wind power generation, rise in awareness of environmental issues, and supportive government strategies for increasing wind capacity through financial incentives are expected to drive the market. Moreover, the UK held the highest number of new wind farms in the region, as most of the new offshore installations occur in the UK. Thus, due to the growing wind turbine installation, Europe is expected to register 236 GW of wind power capacity by 2022.Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million) Europe Wind Turbine Components Market Segmentation
The Europe wind turbine components market is segmented into component and country. Based on component, the Europe wind turbine components market is segmented into rotor blade, nacelle, gearbox, generator, tower, and pitch system. The tower segment registered the largest market share in 2022.- Based on country, the Europe wind turbine components market is segmented into France, Germany, Italy, UK, Russia, and the Rest of Europe. Germany dominated the market share in 2022.
Table of Contents
1. Introduction1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Wind Turbine Components Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Wind Turbine Components Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Increasing Number of Product Launches
5.1.2 Rising Number of Wind Farms
5.2 Market Restraints
5.2.1 Overdependence on Wind Turbine Component Manufacturers
5.3 Market Opportunities
5.3.1 Growing Government Initiatives to Promote Wind Energy
5.4 Future Trends
5.4.1 Rising Demand for Floating Wind Technology
5.5 Impact Analysis of Drivers and Restraints
6. Wind Turbine Components Market - Europe Market Analysis
6.1 Europe Wind Turbine Components Market Overview
6.2 Europe Wind Turbine Components Market Forecast and Analysis
7. Europe Wind Turbine Components Market Revenue and Forecast to 2028 - Component
7.1 Overview
7.2 Europe Wind Turbine Components Market, By Component (2021 & 2028)
7.3 Rotor Blade
7.3.1 Overview
7.3.2 Rotor Blade: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.3.3 Below 40m
7.3.3.1 Overview
7.3.3.2 Below 40m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.3.4m to 60m
7.3.4.1 Overview
7.3.4.2m to 60m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.3.5m to 70m
7.3.5.1 Overview
7.3.5.2m to 70m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.3.6 Above 70m
7.3.6.1 Overview
7.3.6.2 Above 70m: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.4 Nacelle
7.4.1 Overview
7.4.2 Nacelle: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.5 Gearbox
7.5.1 Overview
7.5.2 Gearbox: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.5.3 Planetary Gearbox
7.5.3.1 Overview
7.5.3.2 Planetary Gearbox: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.5.4 Spur Gearbox
7.5.4.1 Overview
7.5.4.2 Spur Gearbox: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.5.5 Others
7.5.5.1 Overview
7.5.5.2 Others: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.6 Generator
7.6.1 Overview
7.6.2 Generator: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.6.3 Direct Current
7.6.3.1 Overview
7.6.3.2 Direct Current: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.6.4 AC Synchronous
7.6.4.1 Overview
7.6.4.2 AC Synchronous: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.7 Tower
7.7.1 Overview
7.7.2 Tower: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.7.3 Tubular Steel Towers
7.7.3.1 Overview
7.7.3.2 Tubular Steel Towers: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.7.4 Lattice Towers
7.7.4.1 Overview
7.7.4.2 Lattice Towers: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.7.5 Hybrid Towers
7.7.5.1 Overview
7.7.5.2 Hybrid Towers: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
7.8 Pitch System
7.8.1 Overview
7.8.2 Pitch System: Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
8. Europe Wind Turbine Components Market - Country Analysis
8.1 Overview
8.1.1 Europe: Wind Turbine Components Market, by Key Country
8.1.1.1 France: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
8.1.1.1.1 France: Wind Turbine Components Market, by Component
8.1.1.1.1.1 France: Wind Turbine Components Market, by Rotor Blades
8.1.1.1.1.2 France: Wind Turbine Components Market, by Gearbox
8.1.1.1.1.3 France: Wind Turbine Components Market, by Generator
8.1.1.1.1.4 France: Wind Turbine Components Market, by Tower
8.1.1.2 Germany: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
8.1.1.2.1 Germany: Wind Turbine Components Market, by Component
8.1.1.2.1.1 Germany: Wind Turbine Components Market, by Rotor Blades
8.1.1.2.1.2 Germany: Wind Turbine Components Market, by Gearbox
8.1.1.2.1.3 Germany: Wind Turbine Components Market, by Generator
8.1.1.2.1.4 Germany: Wind Turbine Components Market, by Tower
8.1.1.3 Italy: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
8.1.1.3.1 Italy: Wind Turbine Components Market, by Component
8.1.1.3.1.1 Italy: Wind Turbine Components Market, by Rotor Blades
8.1.1.3.1.2 Italy: Wind Turbine Components Market, by Gearbox
8.1.1.3.1.3 Italy: Wind Turbine Components Market, by Generator
8.1.1.3.1.4 Italy: Wind Turbine Components Market, by Tower
8.1.1.4 UK: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
8.1.1.4.1 UK: Wind Turbine Components Market, by Component
8.1.1.4.1.1 UK: Wind Turbine Components Market, by Rotor Blades
8.1.1.4.1.2 UK: Wind Turbine Components Market, by Gearbox
8.1.1.4.1.3 UK: Wind Turbine Components Market, by Generator
8.1.1.4.1.4 UK: Wind Turbine Components Market, by Tower
8.1.1.5 Russia: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
8.1.1.5.1 Russia: Wind Turbine Components Market, by Component
8.1.1.5.1.1 Russia: Wind Turbine Components Market, by Rotor Blades
8.1.1.5.1.2 Russia: Wind Turbine Components Market, by Gearbox
8.1.1.5.1.3 Russia: Wind Turbine Components Market, by Generator
8.1.1.5.1.4 Russia: Wind Turbine Components Market, by Tower
8.1.1.6 Rest of Europe: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
8.1.1.6.1 Rest of Europe: Wind Turbine Components Market, by Component
8.1.1.6.1.1 Rest of Europe: Wind Turbine Components Market, by Rotor Blades
8.1.1.6.1.2 Rest of Europe: Wind Turbine Components Market, by Gearbox
8.1.1.6.1.3 Rest of Europe: Wind Turbine Components Market, by Generator
8.1.1.6.1.4 Rest of Europe: Wind Turbine Components Market, by Tower
9. Industry Landscape
9.1 Overview
9.2 Market Initiative
9.3 New Product Development
9.4 Merger and Acquisition
10. Company Profiles
10.1 Siemens Gamesa Renewable Energy SA
10.1.1 Key Facts
10.1.2 Business Description
10.1.3 Products and Services
10.1.4 Financial Overview
10.1.5 SWOT Analysis
10.1.6 Key Developments
10.2 Vestas Wind Systems AS
10.2.1 Key Facts
10.2.2 Business Description
10.2.3 Products and Services
10.2.4 Financial Overview
10.2.5 SWOT Analysis
10.2.6 Key Developments
10.3 TPI Composites Inc
10.3.1 Key Facts
10.3.2 Business Description
10.3.3 Products and Services
10.3.4 Financial Overview
10.3.5 SWOT Analysis
10.3.6 Key Developments
10.4 GRI Renewable Industries SL
10.4.1 Key Facts
10.4.2 Business Description
10.4.3 Products and Services
10.4.4 Financial Overview
10.4.5 SWOT Analysis
10.4.6 Key Developments
10.5 Valmont Industries Inc
10.5.1 Key Facts
10.5.2 Business Description
10.5.3 Products and Services
10.5.4 Financial Overview
10.5.5 SWOT Analysis
10.5.6 Key Developments
10.6 LM Wind Power AS
10.6.1 Key Facts
10.6.2 Business Description
10.6.3 Products and Services
10.6.4 Financial Overview
10.6.5 SWOT Analysis
10.6.6 Key Developments
10.7 The Timken Company
10.7.1 Key Facts
10.7.2 Business Description
10.7.3 Products and Services
10.7.4 Financial Overview
10.7.5 SWOT Analysis
10.7.6 Key Developments
10.8 ZF Friedrichshafen AG
10.8.1 Key Facts
10.8.2 Business Description
10.8.3 Products and Services
10.8.4 Financial Overview
10.8.5 SWOT Analysis
10.8.6 Key Developments
10.9 Flender International GmbH
10.9.1 Key Facts
10.9.2 Business Description
10.9.3 Products and Services
10.9.4 Financial Overview
10.9.5 SWOT Analysis
10.9.6 Key Developments
11. Appendix
11.1 About the Publisher
11.2 Glossary
List of Tables
Table 1 Europe Wind Turbine Components Market, Revenue and Forecast, 2019-2028 (US$ Mn)
Table 2. France: Wind Turbine Components Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 3. France: Wind Turbine Components Market, by Rotor Blades- Revenue and Forecast to 2028 (US$ Million)
Table 4. France: Wind Turbine Components Market, by Gearbox- Revenue and Forecast to 2028 (US$ Million)
Table 5. France: Wind Turbine Components Market, by Generator- Revenue and Forecast to 2028 (US$ Million)
Table 6. France: Wind Turbine Components Market, by Tower- Revenue and Forecast to 2028 (US$ Million)
Table 7. Germany: Wind Turbine Components Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 8. Germany: Wind Turbine Components Market, by Rotor Blades- Revenue and Forecast to 2028 (US$ Million)
Table 9. Germany: Wind Turbine Components Market, by Gearbox- Revenue and Forecast to 2028 (US$ Million)
Table 10. Germany: Wind Turbine Components Market, by Generator- Revenue and Forecast to 2028 (US$ Million)
Table 11. Germany: Wind Turbine Components Market, by Tower- Revenue and Forecast to 2028 (US$ Million)
Table 12. Italy: Wind Turbine Components Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 13. Italy: Wind Turbine Components Market, by Rotor Blades- Revenue and Forecast to 2028 (US$ Million)
Table 14. Italy: Wind Turbine Components Market, by Gearbox- Revenue and Forecast to 2028 (US$ Million)
Table 15. Italy: Wind Turbine Components Market, by Generator- Revenue and Forecast to 2028 (US$ Million)
Table 16. Italy: Wind Turbine Components Market, by Tower- Revenue and Forecast to 2028 (US$ Million)
Table 17. UK: Wind Turbine Components Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 18. UK: Wind Turbine Components Market, by Rotor Blades- Revenue and Forecast to 2028 (US$ Million)
Table 19. UK: Wind Turbine Components Market, by Gearbox- Revenue and Forecast to 2028 (US$ Million)
Table 20. UK: Wind Turbine Components Market, by Generator- Revenue and Forecast to 2028 (US$ Million)
Table 21. UK: Wind Turbine Components Market, by Tower- Revenue and Forecast to 2028 (US$ Million)
Table 22. Russia: Wind Turbine Components Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 23. Russia: Wind Turbine Components Market, by Rotor Blades- Revenue and Forecast to 2028 (US$ Million)
Table 24. Russia: Wind Turbine Components Market, by Gearbox- Revenue and Forecast to 2028 (US$ Million)
Table 25. Russia: Wind Turbine Components Market, by Generator- Revenue and Forecast to 2028 (US$ Million)
Table 26. Russia: Wind Turbine Components Market, by Tower- Revenue and Forecast to 2028 (US$ Million)
Table 27. Rest of Europe: Wind Turbine Components Market, by Component - Revenue and Forecast to 2028 (US$ Million)
Table 28. Rest of Europe: Wind Turbine Components Market, by Rotor Blades- Revenue and Forecast to 2028 (US$ Million)
Table 29. Rest of Europe: Wind Turbine Components Market, by Gearbox- Revenue and Forecast to 2028 (US$ Million)
Table 30. Rest of Europe: Wind Turbine Components Market, by Generator- Revenue and Forecast to 2028 (US$ Million)
Table 31. Rest of Europe: Wind Turbine Components Market, by Tower- Revenue and Forecast to 2028 (US$ Million)
Table 32. Glossary of Terms, Europe Wind Turbine Components Market
List of Figures
Figure 1. Europe Wind Turbine Components Market Segmentation
Figure 2. Europe Wind Turbine Components Market Segmentation - by Country
Figure 3. Europe Wind Turbine Components Market Overview
Figure 4. Europe Wind Turbine Components Market, by Component
Figure 5. Europe Wind Turbine Components Market, by Country
Figure 6. Europe: PEST Analysis
Figure 7. Wind Turbine Components Market- Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Europe Wind Turbine Components Market: Impact Analysis of Drivers and Restraints
Figure 10. Europe Wind Turbine Components Market, Forecast and Analysis (US$ Mn)
Figure 11. Europe Wind Turbine Components Market, By Component (2021 & 2028)
Figure 12. Rotor Blade: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Below 40m: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 14.m to 60m: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 15.m to 70m: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. Above 70m: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. Nacelle: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 18. Gearbox: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Planetary Gearbox: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Spur Gearbox: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. Generator: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. Direct Current: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 24. AC Synchronous: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. Tower: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. Tubular Steel Towers: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. Lattice Towers: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 28. Hybrid Towers: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 29. Pitch System: Europe Wind Turbine Components Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. Europe: Wind Turbine Components Market, by Key Country - Revenue (2021) (US$ Million)
Figure 31. Europe: Wind Turbine Components Market Revenue Share, by Key Country (2021 & 2028)
Figure 32. France: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
Figure 33. Germany: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
Figure 34. Italy: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
Figure 35. UK: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
Figure 36. Russia: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
Figure 37. Rest of Europe: Wind Turbine Components Market - Revenue and Forecast to 2028 (US$ Million)
Companies Mentioned
- Flender International GmbH
- GRI Renewable Industries SL
- LM Wind Power AS
- Siemens Gamesa Renewable Energy SA
- The Timken Company
- TPI Composites Inc
- Valmont Industries Inc
- Vestas Wind Systems AS
- ZF Friedrichshafen AG
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 148 |
| Published | February 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 25342.69 Million |
| Forecasted Market Value ( USD | $ 35648.67 Million |
| Compound Annual Growth Rate | 5.9% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 9 |
