Wind Turbine Components Market Analysis 2022, Size, Share, Industry Trends Forecast by 2028

The Wind Turbine Components Market is expected to grow to US$ 152,019.92 million by 2028; it is estimated to register a CAGR of 4.2% from 2022 to 2028.

There is an increase in demand for a clean energy source to eliminate greenhouse gases, reduce dependence on imported fuels, and diversify the energy supply. This is fueling government investments in the construction of wind farms globally. In 2021, ~10 large wind farm projects were completed in the US, including Texas Gulf Wind Repower (Texas), Las Majadas Wind Project (Texas), Milligan I Wind Project (Nebraska), Deuel Harvest Wind Farm (South Dakota), Frontier Windpower II Project (Oklahoma), Isabella Wind Project (Michigan), Jordan Creek Wind Farm (Indiana), and Maverick Creek Wind Project (Texas). This has driven the growth of wind turbine components market across North America in 2021.

Get Exclusive Sample PDF @: https://www.premiummarketinsights.com/sample/TIP00073740?utm_source=OpenPr&utm_medium=10640

The List of Companies -
1. Siemens Gamesa Renewable Energy SA
2. Vestas Wind Systems AS
3. TPI Composites Inc
4. GRI Renewable Industries SL
5. Marmen Inc
6. Valmont Industries Inc
7. LM Wind Power AS
8. The Timken Co
9. ZF Friedrichshafen AG
10. Flender International GmbH

Similarly, 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. According to the National Grid, Britain recorded high levels of wind energy generation in 2020, 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 provide power to more than 1.4 million the UK homes. This is expected to generate new growth opportunities for wind turbine components market during the forecast period.

Get full Report Description, TOC, Table of Figure, Chart, etc. @: https://www.premiummarketinsights.com/reports-tip/wind-turbine-components-market

COVID-19 Pandemic Impact on Wind Turbine Components Market

Despite several challenges in the procurement of raw materials and transportation issues during the FY 2020 in the wake of COVID-19 pandemic, the demand for wind turbine component installation witnessed a strong growth as majority of the commercial sectors had their operations closed for an ambiguous period in 2020. The government of different countries had not halted the installation projects across the world. The vendors and governments of different countries have collaboratively worked to continue the installation of wind turbines across different wind farms that has driven the wind turbine components market growth during the FY 2020. However, as the COVID-19 restrictions started to ease down, the growth of wind turbine installation witnessed a decline in 2021 compared to that of 2020. This is mainly due to the hampered production and negative impact from the suppliers side that has also impacted negatively in the wind turbine components market growth in 2020.

Buy this research report at @: https://www.premiummarketinsights.com/buy/TIP00073740?utm_source=OpenPr&utm_medium=10640

Contact Us:
If you have any queries about this report or if you would like further information, please
Contact Person: Ankit Mathur
Phone: +1-646-491-9876
Email: sales@premiummarketinsights.com

About Us:
Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost-effective research reports and solutions from various publishers.
The market research industry has changed in last decade. As corporate focus has shifted to niche markets and emerging countries, a number of publishers have stepped in to fulfil these information needs. We have experienced and trained staff that helps you navigate different options and lets you choose best research solution at most effective cost.
Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.
We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider. We also offer enterprise subscriptions which provide significant cost savings to our clients.

This release was published on openPR.