Wind Turbine Nacelle Market: Overview

Burning of fossil fuels such as coal and oil releases large quantities of air pollutants and greenhouse gases have degraded the air quality across the globe. This has increased the threat of global warming to an alarming level and is also adversely affecting the health of living beings. These negative effects have made the world to adopt alternative and cleaner sources of energy such as renewable energy. Renewable energy sources such as solar energy, wind energy, hydro energy, tidal energy, and geothermal energy are increasingly being adopted due to the lack of emission during power generation. Governments across the globe have agreed to restrict the rise of average global temperature to less than 2 ?C. Therefore, governments and authorities are focusing on renewable energies to cater to the demand for power. The wind energy industry is growing at a rapid pace due to implementation of regulations by and investments from various organizations and authorities. According to Global Wind Energy Council (GWEC) the global new installed wind energy capacity was around 52 GW in 2017, while the cumulative installed wind power capacity till 2017 was around 539 GW.

Nacelle houses components of the wind turbine which convert the kinetic energy of wind into mechanical energy and mechanical energy into electrical energy. A nacelle includes a hub, gearbox, rotor, inverters, generator, bearings, and hydraulics. The frame of the nacelle is made of two parts. The main part, which holds the gearbox, yaw system, and main shaft, is made from cast steel and the rear part that houses the transformer, generator, and electrical cabinets is made from formed and welded steel. A fiberglass upper housing is installed to cover all components.

Wind Turbine Nacelle Market: Key Segments

Based on location, the global wind turbine nacelle market can be bifurcated into onshore and offshore. The onshore wind turbine nacelle segment is anticipated to dominate the global wind turbine nacelle market during the forecast period due to the large number of onshore wind turbines across the globe. The offshore segment is likely to expand at a rapid pace during the forecast period due to the rise in investments in the offshore sector and increase in power generation capacity of offshore wind turbines. In terms of turbine capacity, the global wind turbine nacelle market can be divided into upto 1 MW, 1 MW – 2MW, 2 MW - 4MW, and above 4 MW.

Wind Turbine Nacelle Market: Regional Outlook

Based on region, the global wind turbine nacelle market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is likely to dominate the global wind turbine nacelle market during the forecast period owing to the large number of wind turbines and wind energy producing capacity in the region, especially in China and India. The wind energy industry in these countries is growing at a substantial pace. The wind turbine nacelle market in Asia Pacific is anticipated to expand at a rapid pace during the forecast period due to the increase in investments in wind energy along with favorable government regulations and incentives provided in the region, especially in countries such as China and India. Europe is expected to hold a considerable share of the wind turbine nacelle market during the forecast period.

Wind Turbine Nacelle Market: Key Players

Key players operating in the global wind turbine nacelle market include Siemens Gamesa Renewable Energy, S.A., Molded Fiber Glass Companies, Vestas Wind Systems A/S, Inoxwind, Suzlon Energy Limited, Nordex USA, Inc., Fassmer GmbH & Co. KG, Indocool Composites Private Limited, GENERAL ELECTRIC, and Lagerwey.

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  • North America (U.S. and Canada)
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Wind Turbine Nacelle Market

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