Global Wind Turbine Composites Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2027
“Global Wind Turbine Composites Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by MarketResearch.biz, which offers in-depth insights, revenue details, and other vital information regarding the global wind turbine composites market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global wind turbine composites market report has been segmented on the basis of resin type, fiber type, manufacturing process, application, and region.
Wind turbine composites are used in production of blades and equipment parts that offer exceptional tensile strength and resilience to product. Wind turbine composites offer various advantages such as low maintenance, corrosion resistance, and long product life. Therefore, wind turbine composites are used in different sectors such as nacelles, hub, tower, blades, and others. In addition, lightweight property of these composites enable blades to rotate faster as compare to other materials at same wind speed. Furthermore, the reduced weight of turbine reduces the requirement to robust turbine.
Increasing demand for wind turbine composites across various end-use applications such as blades and nacelles is a major factor expected to drive growth of the global market over the next few years. In addition, increasing use of carbon fiber in manufacturing of wind blades rising demand for the renewable energy sources are other factors projected to drive growth of the global market over the next few years.
In addition, increasing focus of governments in various developed and developing countries on installations offshore wind energy resources is another factor estimated to drive growth of the global market over the forecast period.
However, high cost of epoxy resin and carbon fiber and high dependence of the wind energy industry on subsidies provided by governments are major factors expected to hamper growth of the global market to certain extent.
On the basis of resin type, epoxy segment is estimated to dominate the global wind turbine composites market. The epoxy segment revenue is projected to register highest CAGR over the forecast.
On the basis of fiber type, the glass fiber segment is estimated to account for significant share in terms of revenue in the global market. The glass fiber segment revenue is also projected to register highest CAGR over the forecast.
On the basis of application, the blades segment is estimated to account for major share in terms of revenue in the global market. Composites used in wind turbine blades offers less maintenance, long shelf life, high strength-to-weight ratio, and resistance to corrosion. The blades segment revenue is also anticipated to register highest CAGR over the forecast.
Asia Pacific wind turbine composites market is expected to account for significant share in terms of revenue in the global market. The Asia Pacific market is also anticipated to register fastest growth in terms of revenue over the next few years, owing to increasing demand for the renewable energy sources, supportive government initiatives including favorable policies, government regulations regarding renewable energy, wind power development programs, and growing demand for high strength and lightweight materials used in production of various parts of the wind turbines in the countries in region.
Global wind turbine composites market segmentation:
Segmentation by resin type:
- Vinyl Ester
Segmentation by fiber type:
- Glass fiber
- Carbon fiber
- Others (Aramid Fiber, Basalt Fiber, and Hybrid Fiber)
Segmentation by manufacturing process:
- Vacuum Injection Molding
- Hand Lay-up
Segmentation by application:
- Others (Towers and Hub)
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- LM Wind Power A/S
- AVIC Huiteng Windpower Equipment Co. Ltd.
- Vestas Wind Systems A/S
- Gamesa Technology Corporation, Inc.
- TPI Composites, Inc.
- Suzlon Energy Limited
- AREVA SA
- Siemens AG
- Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd.
- ENERCON GmbH
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