LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global wind turbine generator market 2017-2021 report. This market research report also lists 11 other prominent vendors that are expected to impact the market during the forecast period.
Competitive vendor landscape
According to the research analysis, the global wind turbine generator market is characterized by the presence of well diversified international and regional vendors. In developed and developing countries, regional vendors dominate the market, thus increasing the competition. The wind turbine generator market is a highly competitive market with major vendors such as ABB, Gamesa, GE Renewable Energy, SANY and Suzlon competing on price and quality of the products offered, and market presence.
The market includes in-house manufacturers and independent suppliers. In-house manufacturers increasingly focus on providing innovative low-cost products that have high efficiency and are lightweight. They also strive to enhance their overall service. The independent suppliers dominate the global wind turbine generator market.
“Vendors are resorting to M&A activities and establishing partnerships along with effective product launches as a strategy to gain higher market shares. Leading companies are trying to gain a competitive edge through joint ventures, memorandum of understanding, or acquisitions,” says Thanikachalam Chandrasekaran, a lead power research analyst from Technavio.
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Technavio market research analysts identify the following key vendors:
ABB is a one of the leaders in automation and power technologies, which enable utility and industry customers to improve their performance while reducing the environmental impact. The company provides power and automation technologies for the utility, transport, and infrastructure industries worldwide.
Gamesa is a leader in the wind industry and has operations in over 55 countries. Gamesa also manufactures other major components for wind turbines such as converters, generators, and gearboxes through its subsidiary companies. Additionally, the company also focuses on the development and sale of wind farms. The company operates through two segments: Wind Turbine and Operations and Maintenance.
GE Renewable Energy
GE Renewable Energy has one of the broadest product and service portfolios in the renewable energy industry. The company has installed over 370 GW of wind energy capacity globally. In February 2017, the company announced that it will equip an integrated solar-wind hybrid power project in the US.
SANY has over 25 manufacturing bases and has R&D centers and manufacturing bases in the US, Germany, India, and Brazil. The products of the company are exported to 150 countries and regions worldwide.
Suzlon has its presence in over 19 countries. It has installed around 15.5 GW of wind energy capacity worldwide. The company has over 8,000 employees worldwide. The company is a leader in wind energy in APAC. In July 2016, the company won the Golden Peacock Eco Innovation Award for its S97 120-m hybrid tower wind turbine.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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