The latest research study “Wind Turbine Rotor Blade Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global wind turbine rotor blade market size US$ 21.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.3 Billion by 2028, exhibiting a growth rate (CAGR) of 8.52% during 2023-2028.
A wind turbine rotor blade refers to an essential airfoil-shaped component created to produce electricity by absorbing kinetic energy through aerodynamic forces around a central hub. It usually contains three blades in a tip-speed ratio (TSR) structure that offers optimal mechanical strength and low inertia. Wind turbine rotor blades are commercially available in varying shapes, inclination angles, configurations, and sizes. They aid in enabling faster tip turns, sweeping and capturing more area and wind, and converting energy into rotary motions. As a result, wind turbine rotor blades find widespread applications in various onshore and offshore locations to flow and generate renewable energy.
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Wind Turbine Rotor Blade Market Trends and Drivers:
The escalating need for alternative energy sources and the extensive utilization of power generation technology to maximize electricity production are among the primary factors driving the wind turbine rotor market. In addition, the ongoing depletion of petroleum-based resources is further augmenting the market growth. Besides this, the launch of several policies by the government bodies to promote the uptake of eco-friendly assets to mitigate carbon emissions, owing to the rising environmental concerns, is also catalyzing the global market. Moreover, the elevating requirement for various materials, such as wood, aluminum, and plastics, to design advanced wind turbine rotor blades at cost-effective prices is acting as another significant growth-inducing factor. Apart from this, the introduction of aircraft wing structure variants to enhance operational efficiency and the integration of glass fiber reinforced plastics and epoxy in these components are also stimulating the market growth. Furthermore, the growing popularity of these systems in offshore areas and the development of lightweight and recyclable product variants by the leading players are expected to bolster the wind turbine rotor blade market in the coming years.
Wind Turbine Rotor Blade Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
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.
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
Key highlights of the report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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