Global Wind Turbine Rotor Blade Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027
Wind Turbine Rotor Blade Market Introduction
"The global Wind Turbine Rotor Blade Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."
Turbines that generate electricity with help of winds are referred to as wind turbines. These turbines work by converting kinetic energy generated from the spinning motion of rotor blades into electrical energy. Wind energy is commonly referred to as a clean, renewable, and easily available source of energy that has no adverse effect on the environment.
Wind turbines come in various configurations and sizes and can be built from a range of different materials. Rotor blades are essential components of a wind turbine, and the efficiency of the wind turbine is directly dependent on the material used for the rotor blade, the angle of incline, and the shape of the blade.
Rising demand for renewable sources of energy, coupled with increasing application of offshore wind turbines are key factors driving growth of the global wind turbine rotor blade market. In addition, improving economic conditions in most parts of the world, and stringent environment regulations are other factors anticipated to boost in growth of the global wind turbine rotor blades market over the forecast period.
Also, the economic advantages of wind turbines and advancements in rotor blades are prompting investments by governments and private organizations with a view to setting up wind turbine technologies in emerging economies. This is another factor expected to aid in the growth of the global rotor blade market to a significant extent over the forecast period.
However, high costs associated with R&D, and problems during transportation are major factors restraining the growth of the global wind turbine rotor blade market. Additionally, the availability of alternative energy generation sources such as solar, and fuel are other factors anticipated to hamper the growth of the global wind turbine rotor blade market over the forecast period.
Rising demand for offshore wind turbines and carbon fiber rotor blades due to their lightweight and high strength properties are major opportunities for prominent players in the market.
Currently, the market in Asia Pacific dominates the global wind turbine rotor blade market in revenue terms owing to high adoption of wind turbines, coupled with growing energy demand from emerging economies such as China and India. The market in Europe is expected to witness significant growth in the global wind turbine rotor blade market, followed by markets in North America, Latin America, and Middle East & Africa respectively.
Global Wind Turbine Rotor Blade Market Segmentation:
Global wind turbine rotor blade market segmentation by material type:
- Carbon Fiber
Global wind turbine rotor blade market segmentation by blade length:
- <27 meter
- 27-37 meter
- 38-50 meter
- >50 meter
Global wind turbine rotor blade market segmentation by location:
Global wind turbine rotor blade market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Siemens Gamesa Renewable Energy
- Vestas Wind System AS
- Suzlon Energy Limited
- Acciona S.A.
- Gamesa Corporacion Tecnologica
- Enercon GmbH
- LM Wind Power
- Molded Fiber Glass Companies
- Nordex SE
- TPI Composites
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