Lewes, DE -- (SBWIRE) -- 03/17/2016 -- Report forecast the global wind turbine components market to grow at a CAGR of 12% during the period 2016-2020.

Wind turbines harness the power of the wind to generate electricity. The energy present in the wind turns the blades around a rotor, which is connected to the main shaft that spins a generator to create electricity. Conventional power generation is gradually losing its sheen owing to growing environmental awareness. Renewable energy such as the wind and solar have gained popularity worldwide.

The report covers the present scenario and the growth prospects of the global wind turbine components market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market. The vendors included in the report are component manufacturers and suppliers.

The market is divided into the following segments based on geography:
- Americas
- APAC
- EMEA

According to the report, the offshore wind is consistent and powerful, and has higher wind speed and fewer environmental concerns. Offshore wind projects are suitable for large-scale development that can lead to increased demand for wind turbine components. Also, floating turbine is another prospect for the future, which will significantly contribute to wind installation. A floating wind turbine is an offshore wind turbine that is mounted on a structure and can float in the ocean, thereby allowing for wind power generation in difficult ocean terrains.

Further, the report states that the reliability of wind turbines is a pre-requisite for the effective generation of power from wind energy. Any failure of components will negatively affect the functioning of the entire system.

Global Wind Turbine Components Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

key players in the Global Wind Turbine Components Market: GE Renewable Energy, Goldwind, Siemens, Suzlon, and Vestas.

Other Prominent Vendors in the market are: Enercon, Gamesa, LM wind power, MFG, Nordex, Senvion SE, and TPI.

Market driver
- Expansion in offshore wind installations
- For a full, detailed list, view our report

Market challenge
- High failure rate of wind turbine components
- For a full, detailed list, view our report

Market trend
- Increased R&D
- For a full, detailed list, view our report

Key questions answered in this report
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?

Spanning over 73 pages and 45 Exhibit "Global Wind Turbine Components Market 2016 - 2020" report covers Executive summary, Scope of the report, Market research methodology, Introduction, Market Overview, Market Landscape, Market segmentation by wind turbine components, Geographical segmentation, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.

For more information Visit at: http://www.marketresearchreports.com/technavio/global-wind-turbine-components-market-2016-2020

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