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Wind Turbine Rotor Blade Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Wind Turbine Rotor Blade Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

  • October 2022
  • 143 pages
  • ID: 6359651
  • Format: PDF
  • IMARC Group

Summary

Table of Contents

The global wind turbine rotor blade market size reached US$ 19.75 Billion in 2021. Looking forward, the analyst expects the market to reach US$ 32.86 Billion by 2027, exhibiting a growth rate (CAGR) of 8.70% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.

A wind turbine rotor blade is an indispensable airfoil-shaped component designed to produce electricity by absorbing kinetic energy to torque through aerodynamic forces around a central hub. It usually encompasses three blades in a tip-speed ratio (TSR) structure that offers low inertia and optimal mechanical strength. Apart from this, the wind turbine rotor blade aids in sweeping and capturing more area and wind, enabling faster tip turns, and converting this energy into rotary motions. Based on these properties, it finds extensive applications in various onshore and offshore locations to sail and generate renewable energy. At present, wind turbine motors are commercially available in varying blade shapes, inclination angles, configurations, and sizes.

Wind Turbine Rotor Blade Market Trends:
The increasing need for alternative energy sources and the extensive employment of wind energy power generation technology to maximize electricity production has supplemented product usage across the globe. This is further supported by the rising demand for efficient energy sources and the ongoing depletion of petroleum-based resources. In line with this, escalating environmental concerns have prompted governments to promote the uptake of eco-friendly assets, such as wind turbines, to mitigate carbon emissions, which is acting as another growth-inducing factor. Moreover, the rising employment of various materials, such as aluminum, wood, and plastics, to engineer advanced wind turbine rotor blades at cost-effective prices is supporting the market growth. Additionally, the advent of aircraft wing structures designed product variants to improve operational efficiency and the incorporation of glass fiber reinforced plastics and epoxy in wind turbine rotor blades are contributing to the market growth. Other factors, such as ongoing wind system installation across offshore areas and strategic collaborations amongst key players to launch lightweight, recyclable wind rotor blades, are creating a positive outlook for the market.

Key Market Segmentation:
the analyst provides an analysis of the key trends in each sub-segment of the global wind turbine rotor blade market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on blade material, blade length and location of deployment.

Breakup by Blade Material:
Carbon Fiber
Glass Fiber
Others

Breakup by Blade Length:
Below 45 Meters
45-60 Meters
Above 60 Meters

Breakup by Location of Deployment:
Onshore
Offshore

Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Acciona S.A., Enercon GmbH, INOX Wind Limited, LM Wind Power (General Electric Company), Moog Inc., Nordex SE, SGS S.A., Siemens Gamesa Renewable Energy S.A. (Siemens Energy AG), Suzlon Energy Limited and Vestas Wind Systems A/S.



Key Questions Answered in This Report:

How has the global wind turbine rotor blade market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global wind turbine rotor blade market?
What are the key regional markets?
What is the breakup of the market based on the blade material?
What is the breakup of the market based on the blade length?
What is the breakup of the market based on the location of deployment?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global wind turbine rotor blade market and who are the key players?
What is the degree of competition in the industry?

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