Albany, New York, June 30, 2017: A recent Transparency Market Research presents a detailed overview of the global wind turbine components market. The report, titled “Wind Turbine Components Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,” states that the market will exhibit a highly promising rate of development over the period between 2016 and 2024 owing to the rising focus on the development of renewable energy sectors across the globe.

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The market is expected to significantly benefit from the vast rise in research and development activities in the market and the rising level of regulatory support from public and private bodies aimed at the development of the wind energy sector. The report provides a comprehensive account of the wind turbine components market across the globe with the help of in-depth quantitative as well as qualitative insights, verifiable projections about the size of the market, and historical data.

The forecast featured in the report has been derived with the help of proven research methodologies, inputs from industry experts, and assumptions. The report provides a thorough analysis of the market by segmenting it from the viewpoint of a number of criteria.

From a geographical perspective, the global market for wind turbine components is presently dominated by developed regions such as North America and Europe. The vast rate of expansion of wind energy sector in Europe in the past few years, especially, has massively contributed to the overall development of the global wind turbine components market. European countries such as Germany, Austria, Norway, Denmark, Portugal, and Sweden are increasing efforts to make renewables a larger part of their energy mixes. Denmark produced wind power of around 140% of its domestic electricity needs from the wind energy sector.

The Asia Pacific market for wind turbine components also presents vast growth opportunities. The regional market holds promise in countries such as India, China, Japan, and South Korea owing to the rising focus on the development of the renewables sector. China, especially, has witnessed vast developments in the field of wind energy and is expected to emerge as one of the key drivers of the Asia Pacific wind turbine components market, owing to the presence of a number of manufacturers as well as the massive domestic demand.

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The vendor landscape of the global wind turbine components market is highly competitive and is witnessing the introduction of a variety of innovative and technologically advanced wind turbine components at a rapid rate. Weight reduction of rotor blades and increase in the height of the wind turbine towers are some of the key areas of innovation and development presently. Some of the leading companies operating in the market are Goldwind, Suzlon Energy, Siemens, Vestas, and GE Renewable Energy.