Global Wind Turbine Rotor Blades Market - Analysis by Location, Rotor Diameter, Blade Material - Growth Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 125 | Published By - Mordor Intelligence

Report Highlights

The global wind turbine rotor blades market is expected to show tremendous growth from 2015 to 2022, growing from USD XX Billion in 2015 to USD XX Billion by 2022, at a CAGR of 11.10%.

There is an increase in energy demand worldwide, and fossil fuels have traditionally fossil fuels have met most of the planets power demand. However, these resources are becoming increasingly strained, and in addition to this, their polluting nature is also raising concern worldwide. Wind power has come up as one of the most popular replacements for the traditional power generation techniques. A wind turbine is a clean and renewable power generation option that is being seriously considered in countries around the world today. In a wind turbine, the turbine rotor constitutes one of the largest portions of the cost of a wind turbine installation, accounting for more than 16% of the total cost of the entire installation.

The growing demand for clean energy has been a major driving factor for the wind industry in general, and this has also helped the turbine rotor blades market. This demand has resulted in wind energy technology getting cheaper. Governments, especially those from developing countries are also actively promoting the development of clean renewable energy sources, and this has greatly benefited the wind power industry. The outcomes of the UN climate change conference will also be a boost to the wind industry, as countries will opt for cleaner sources of power generation to meet emission standards. The major factors that hinder the growth of the wind industry are the unpredictability of wind energy, and the noise pollution and aesthetic concerns that wind turbine installations pose. The transportation of wind turbine blades, and the design considerations that need to be followed while designing turbine rotor blades also pose serious challenges to the industry.

Wind turbines installations are found both onshore and offshore. The wind turbine rotor blade market can be classified on the basis of the material that is used in their manufacture into carbon fibre and glass fibre markets. The different rotor diameters also can be used as a classification criterion for the rotor blades market.

The market can also be segmented geographically. North America, Europe, Asia-Pacific, South America, and Middle East & Africa form the major geographical segments that are analysed in this report. Of these regions, the Asia-Pacific region has in the past few years provided the largest demand. This region is expected to dominate the demand table during the study period as well. South America, Africa represent other key markets.

The major players involved in the wind turbine rotor blades market are Acciona, General Electric, Siemens, Vestas, Enercon, Suzlon, Gamesa etc. Large wind turbine manufacturers in the market prefer to manufacture their own turbine rotor blades. The key players are also investing heavily in R & D activities in order to reduce the weight of the turbine blades.

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