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The Asia Pacific region is witnessing robust growth due to the increasing demand for wind energy in the region. As China is one of the largest countries deploying wind energy, the demand for wind turbine rotor blades is surging. Moreover, the growing investments in wind energy by governments is propelling the market growth. The initiation of various wind projects by governments is also surging the use of wind turbine rotor blades, which is expected to propel the market growth. For instance, South Korea unveiled a new agreement to build an offshore wind complex in the country to meet the growing demand for energy. Furthermore, the growing energy demands in emerging economies such as India and Indonesia are also increasing the demand for wind energy, which is estimated to significantly contribute to the growth of the global wind turbine rotor blade industry.
Siemens Gamesa Renewable Energy SA (BME: SGRE), one of the leading companies in the market, announced the launch of a recyclable commercial blade in September 2021. The innovative 81-metre blades enable the efficient separation of component materials to boost the lifespan of blades. Moreover, the blades are expected to be manufactured in Aalborg, Denmark, while using innovative resin to bind component materials. The company, along with RWE, is expected to monitor and install recyclable blades in Germany at the offshore power plant. In addition, the company is projected to increase blade manufacturing in the United Kingdom by developing its new manufacturing plant in Teesside for the production of its wind turbines. Such developments are expected to bolster the market growth.
Market Analysis by Location of Deployment, Blade Material, and Region:
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The major players in the global wind turbine rotor blade market are TPI Composites Inc., Nordex SE, Siemens Gamesa Renewable Energy SA, Vestas Wind Systems A/S, MFG Wind, and General Electric, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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