The global wind turbine rotor blade market size reached US$ 23.4 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 47.1 Billion by 2032, exhibiting a growth rate (CAGR) of 8.1% during 2023-2032.
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.
2. What is the expected growth rate of the global wind turbine rotor blade market during 2024-2032?
3. What are the key factors driving the global wind turbine rotor blade market?
4. What has been the impact of COVID-19 on the global wind turbine rotor blade market?
5. What is the breakup of the global wind turbine rotor blade market based on the blade material?
6. What is the breakup of the global wind turbine rotor blade market based on the blade length?
7. What is the breakup of the global wind turbine rotor blade market based on location of deployment?
8. What are the key regions in the global wind turbine rotor blade market?
9. Who are the key players/companies in the global wind turbine rotor blade market?
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 publisher 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 2024-2032. The 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
1. What was the size of the global wind turbine rotor blade market in 2023?2. What is the expected growth rate of the global wind turbine rotor blade market during 2024-2032?
3. What are the key factors driving the global wind turbine rotor blade market?
4. What has been the impact of COVID-19 on the global wind turbine rotor blade market?
5. What is the breakup of the global wind turbine rotor blade market based on the blade material?
6. What is the breakup of the global wind turbine rotor blade market based on the blade length?
7. What is the breakup of the global wind turbine rotor blade market based on location of deployment?
8. What are the key regions in the global wind turbine rotor blade market?
9. Who are the key players/companies in the global wind turbine rotor blade market?
Table of Contents
1 Preface3 Executive Summary11 Value Chain Analysis13 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global Wind Turbine Rotor Blade Market
6 Market Breakup by Blade Material
7 Market Breakup by Blade Length
8 Market Breakup by Location of Deployment
9 Market Breakup by Region
10 SWOT Analysis
12 Porters Five Forces Analysis
14 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- 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.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 142 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 23.4 Billion |
| Forecasted Market Value ( USD | $ 47.1 Billion |
| Compound Annual Growth Rate | 8.1% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
