Market Overview:
The global wind turbine hubs market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market is segmented on the basis of type, application and region. On the basis of type, the market is segmented into rigid hubs, teetering hubs, hinged hubs and others. Rigid hub dominates the global wind turbine hub market in terms of revenue share in 2017 and it is also expected to maintain its dominance during the forecast period from 2018 to 2030. Hinged hub held second largest revenue share in 2017 and it is projected to grow at highest CAGR during forecast period owing to its advantages over other types such as easy installation & replacement, low maintenance cost etc. On the basis of application, blades accounted for majority share in terms of revenue generated by global wind turbine hub market in 2017 followed by rotor and others segments respectively. Blades are further sub-segmented into main blades and tail blades while rotor sub-segment includes gear box & generator rotor among others applications which are included under Others category . Asia Pacific was observed as dominant regional player with highest revenue contribution followed by Europe In terms of growth rate North America registered highest CAGR among all regions due high potential for renewable energy sources coupled with supportive government policies across countries such as UAS.
Product Definition:
A wind turbine hub is the central component of a wind turbine. It is the part of the machine that attaches to the rotor blades and sits above the nacelle. The hub transmits power from the blades to the drive train, allowing the rotor to turn. It also houses components such as bearings, brakes, and gearboxes.
Rigid Hubs:
Rigid hub is a device used in the manufacturing of wind turbines. It is also known as main shaft or gearbox. The rigid hubs are manufactured with high precision and they have to be free from defects so that they can provide accurate rotational speed required by the generator set (generator, rotor & nacelle). If there are any errors then it can lead to failure of the turbine which may incur heavy financial losses for the company operating in this sector.
Teetering Hubs:
The teetering hubs are used in the wind turbine hub assembly. The primary function of these devices is to keep the main shaft from turning until the blades are fully extended. It also helps in preventing damage to critical components such as bearings, gearbox, and generator during startup and shutdown.
These devices can be either mechanical or hydraulic in nature depending on their location along with other factors such as power rating and installation type etc.
Application Insights:
The blades segment dominated the global wind turbine hubs market, accounting for a revenue share of over 40.0% in 2017. The growing demand for electricity from the industrial sector and emerging economies is expected to drive the blades segment over the forecast period. In addition, increasing government support to promote investments in this sector is anticipated to boost growth further.
The rotor segment accounted for a significant revenue share in 2017 owing to high product demand due to its ability provide clean energy with low operational costs and reduced environmental impact as compared with other power generation sources such as coal or gas-fired plants. Furthermore, steady advancements in technology coupled with an increase in R&D activities pertaining rotary winged turbines are likely fuel industry expansion at a CAGR of XX% from 2018 through 2030 ¢â‚¬â€œ2030 throughout the forecast period.
Regional Analysis:
The Asia Pacific region accounted for the largest revenue share in 2017 and is expected to continue its dominance over the forecast period. The regional market growth can be attributed to increasing wind turbine installations in China, India, South Korea, Japan and Australia. In addition, favorable government policies such as “Make in India†initiative by the Indian government are expected to boost product demand from residential consumers across various segments including small (10 MW).
Europe is anticipated to witness significant growth over the next eight years owing to growing renewable energy targets by 2030 coupled with technological advancements of wind turbines. For instance; Siemens has developed a new class of offshore turbines that are more efficient at sea than on land. Moreover these offshore turbines have an output power level exceeding 1 GW which makes them suitable for large scale projects across deep water areas thus driving industry growth across this region.
Growth Factors:
- Increasing demand for wind energy: The global demand for wind energy is increasing rapidly due to the rising concerns over climate change and the need to reduce greenhouse gas emissions. This is driving the growth of the wind turbine hubs market.
- Technological advancements: The development of new and innovative technologies is aiding in the growth of the wind turbine hubs market. For instance, recent technological advancements have led to the development of taller turbines that can capture more energy from faster winds, thus enhancing performance and efficiency.
- Declining costs of renewable energy: The costs associated with renewable sources such as solar and wind are declining rapidly, making them more competitive with traditional sources such as coal and natural gas-fired power plants. This is boosting investments in renewables, thereby propellingthe growth ofthewind turbine hubs market .
- . Government incentives: Governments aroundthe world are providing various incentives for installingwind turbines, which is aiding in thegrowthof thismarket .Forinstance,in 2017,Germanyintroduced a scheme under which it pays homeowners who install rooftop solar panels or small-scalewind turbines a premium rate for electricity generated from these sources fed intothe grid .Thisis encouragingmore peopleto adoptrenewablesandis thus fuellinggrowthinthewindturbinehubsmarket .
- . Rising awareness about benefits of renewables: There has been a growing awareness about th e environmental benefits offorcing towards renewables such as solarandwindenergy ,whichisan
Scope Of The Report
Report Attributes
Report Details
Report Title
Wind Turbine Hubs Market Research Report
By Type
Rigid Hubs, Teetering Hubs, Hinged Hubs, Others
By Application
Blades, Rotor, Others
By Companies
Kid Wind, Vestas Wind Systems A/s, Metal Forms, Neg Micon A/s, Siemens Aktiengesellschaft, Alstom Renewable Technologies, General Electric Company, Qingdao Ruilan Trading, Hohhot Boyang Renewable Energy, Dalian All World I/e, Kid Wind
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
249
Number of Tables & Figures
175
Customization Available
Yes, the report can be customized as per your need.
Global Wind Turbine Hubs Market Report Segments:
The global Wind Turbine Hubs market is segmented on the basis of:
Types
Rigid Hubs, Teetering Hubs, Hinged Hubs, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Blades, Rotor, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Kid Wind
- Vestas Wind Systems A/s
- Metal Forms
- Neg Micon A/s
- Siemens Aktiengesellschaft
- Alstom Renewable Technologies
- General Electric Company
- Qingdao Ruilan Trading
- Hohhot Boyang Renewable Energy
- Dalian All World I/e
- Kid Wind
Highlights of The Wind Turbine Hubs Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Rigid Hubs
- Teetering Hubs
- Hinged Hubs
- Others
- By Application:
- Blades
- Rotor
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Wind Turbine Hubs Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Wind turbine hubs are the main component of a wind turbine. They are used to connect the blades of a wind turbine to the tower or mast.
Some of the key players operating in the wind turbine hubs market are Kid Wind, Vestas Wind Systems A/s, Metal Forms, Neg Micon A/s, Siemens Aktiengesellschaft, Alstom Renewable Technologies, General Electric Company, Qingdao Ruilan Trading, Hohhot Boyang Renewable Energy, Dalian All World I/e, Kid Wind.
The wind turbine hubs market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Wind Turbine Hubs Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Wind Turbine Hubs Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Wind Turbine Hubs Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Wind Turbine Hubs Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Wind Turbine Hubs Market Size & Forecast, 2018-2028
4.5.1 Wind Turbine Hubs Market Size and Y-o-Y Growth
4.5.2 Wind Turbine Hubs Market Absolute $ Opportunity
Chapter 5 Global Wind Turbine Hubs Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Wind Turbine Hubs Market Size Forecast by Type
5.2.1 Rigid Hubs
5.2.2 Teetering Hubs
5.2.3 Hinged Hubs
5.2.4 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Wind Turbine Hubs Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Wind Turbine Hubs Market Size Forecast by Applications
6.2.1 Blades
6.2.2 Rotor
6.2.3 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Wind Turbine Hubs Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Wind Turbine Hubs Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Wind Turbine Hubs Analysis and Forecast
9.1 Introduction
9.2 North America Wind Turbine Hubs Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Wind Turbine Hubs Market Size Forecast by Type
9.6.1 Rigid Hubs
9.6.2 Teetering Hubs
9.6.3 Hinged Hubs
9.6.4 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Wind Turbine Hubs Market Size Forecast by Applications
9.10.1 Blades
9.10.2 Rotor
9.10.3 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Wind Turbine Hubs Analysis and Forecast
10.1 Introduction
10.2 Europe Wind Turbine Hubs Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Wind Turbine Hubs Market Size Forecast by Type
10.6.1 Rigid Hubs
10.6.2 Teetering Hubs
10.6.3 Hinged Hubs
10.6.4 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Wind Turbine Hubs Market Size Forecast by Applications
10.10.1 Blades
10.10.2 Rotor
10.10.3 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Wind Turbine Hubs Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Wind Turbine Hubs Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Wind Turbine Hubs Market Size Forecast by Type
11.6.1 Rigid Hubs
11.6.2 Teetering Hubs
11.6.3 Hinged Hubs
11.6.4 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Wind Turbine Hubs Market Size Forecast by Applications
11.10.1 Blades
11.10.2 Rotor
11.10.3 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Wind Turbine Hubs Analysis and Forecast
12.1 Introduction
12.2 Latin America Wind Turbine Hubs Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Wind Turbine Hubs Market Size Forecast by Type
12.6.1 Rigid Hubs
12.6.2 Teetering Hubs
12.6.3 Hinged Hubs
12.6.4 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Wind Turbine Hubs Market Size Forecast by Applications
12.10.1 Blades
12.10.2 Rotor
12.10.3 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Wind Turbine Hubs Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Wind Turbine Hubs Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Wind Turbine Hubs Market Size Forecast by Type
13.6.1 Rigid Hubs
13.6.2 Teetering Hubs
13.6.3 Hinged Hubs
13.6.4 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Wind Turbine Hubs Market Size Forecast by Applications
13.10.1 Blades
13.10.2 Rotor
13.10.3 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Wind Turbine Hubs Market: Competitive Dashboard
14.2 Global Wind Turbine Hubs Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Kid Wind
14.3.2 Vestas Wind Systems A/s
14.3.3 Metal Forms
14.3.4 Neg Micon A/s
14.3.5 Siemens Aktiengesellschaft
14.3.6 Alstom Renewable Technologies
14.3.7 General Electric Company
14.3.8 Qingdao Ruilan Trading
14.3.9 Hohhot Boyang Renewable Energy
14.3.10 Dalian All World I/e
14.3.11 Kid Wind
