Reports

Global Wind Turbine Rotor Blade Market to Grow at a CAGR of 6% During 2021-2026, Aided by the Rising Demand for Wind Energy

Global Wind Turbine Rotor Blade Market Share, Forecast: By Location of Deployment: Onshore, Offshore; By Blade Material: Carbon Fibre, Glass Fibre, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Competitive Landscape; 2024-2032

Global Wind Turbine Rotor Blade Market Outlook

The global wind turbine rotor blade market attained a value of about USD 6.19 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6% to reach nearly USD 10.49 billion by 2032.

Global Wind Turbine Rotor Blade Market

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Increasing Demand for Wind Energy Bolstering the Growth of the Wind Turbine Rotor Blade Industry

The rising demand for alternative sources of energy is surging the use of wind turbines, which is propelling the market growth of wind turbine rotor blade. The growing deployment of wind turbines can be attributed to the depletion of petroleum resources, which is increasing the requirement for a novel and efficient source of energy.

As wind turbines are environmentally friendly and do not utilise any limited resource, they are increasingly being preferred. Hence, the increasing use of wind turbines to generate energy is augmenting the growth of the wind turbine rotor blade industry. Moreover, the growing demand for innovative wind turbine rotor blades to enhance the energy efficiency and performance of wind turbines is fuelling the industry growth. The use of innovative wind turbine rotor blades made of plastics, aluminium, and wood, among others, to boost their durability and affordability is providing further impetus to the growth of the market.

Wind Turbine Rotor Blade: Market Segmentation

A wind turbine rotor blade is a component of a wind turbine that converts kinetic energy to torque. It is essential for the optimal functionality of wind turbines. It typically consists of three blades with low inertia and excellent mechanical strength to enable the smooth functioning of turbines. This makes them ideal for use in the generation of renewable energy.

Global Wind Turbine Rotor Blade Market by Segment

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The major locations of deployment of wind turbine rotor blade are:

Onshore
Offshore

The market can be broadly categorised on the basis of its blade materials into:

Carbon Fibre
Glass Fibre
Others

The EMR report looks into the regional markets of wind turbine rotor blade like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Global Wind Turbine Rotor Blade Market by Region

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Development of Efficient Wind Turbine Rotor Blades to Augment the Market Growth

The development of wind turbine rotor blades with the design of aircraft wings to boost operational efficiency is expected to bolster the growth of the market. In addition, the use of advanced materials, such as epoxy and glass fibre reinforced plastics and wind turbine rotor blades in the production of wind turbine rotor blades is invigorating the market growth. The increasing research activities to develop lightweight wind turbine rotor blades to boost energy efficiency is providing further impetus to the market growth.

The market is expected to be driven by the increasing investments in wind energy by various governments. For instance, the United Kingdom government, in March 2021, announced that it would invest 95 million pounds for expansion in offshore wind farms. Moreover, the growing demand for sustainable and wind turbines is leading to the development of recyclable wind turbine rotor blades, which is projected to propel the growth of the market growth.

Key Industry Players in the Global Wind Turbine Rotor Blade Market

The report presents a detailed analysis of the following key players in the global wind turbine rotor blade market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

TPI Composites Inc.
Nordex SE
Siemens Gamesa Renewable Energy SA
Vestas Wind Systems A/S
MFG Wind
General Electric
Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

REPORT FEATURES	DETAILS
Base Year	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Scope of the Report	Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Location of Deployment, Blade Material, Region
Breakup by Location of Deployment	Onshore, Offshore
Breakup by Blade Material	Carbon Fibre, Glass Fibre, Others
Breakup by Region	North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics	SWOT, Porter's Five Forces, Key Indicators for Price and Demand
Competitive Landscape	Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered	TPI Composites Inc., Nordex SE, Siemens Gamesa Renewable Energy SA, Vestas Wind Systems A/S, MFG Wind, General Electric, Others
Report Price and Purchase Option	Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format	Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Snapshot
   6.1   Global
   6.2   Regional
7   Opportunities and Challenges in the Market
8   Global Wind Turbine Rotor Blade Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Wind Turbine Rotor Blade Historical Market (2018-2023)
   8.3   Global Wind Turbine Rotor Blade Market Forecast (2024-2032)
   8.4   Global Wind Turbine Rotor Blade Market by Location of Deployment
       8.4.1   Onshore
           8.4.1.1 Historical Trend (2018-2023)
           8.4.1.2 Forecast Trend (2024-2032)
       8.4.2   Offshore
           8.4.2.1 Historical Trend (2018-2023)
           8.4.2.2 Forecast Trend (2024-2032)
   8.5   Global Wind Turbine Rotor Blade Market by Blade Material
       8.5.1   Carbon Fibre
           8.5.1.1 Historical Trend (2018-2023)
           8.5.1.2 Forecast Trend (2024-2032)
       8.5.2   Glass Fibre
           8.5.2.1 Historical Trend (2018-2023)
           8.5.2.2 Forecast Trend (2024-2032)
       8.5.3   Others
   8.6   Global Wind Turbine Rotor Blade Market by Region
       8.6.1   North America
           8.6.1.1 Historical Trend (2018-2023)
           8.6.1.2 Forecast Trend (2024-2032)
       8.6.2   Europe
           8.6.2.1 Historical Trend (2018-2023)
           8.6.2.2 Forecast Trend (2024-2032)
       8.6.3   Asia Pacific
           8.6.3.1 Historical Trend (2018-2023)
           8.6.3.2 Forecast Trend (2024-2032)
       8.6.4   Latin America
           8.6.4.1 Historical Trend (2018-2023)
           8.6.4.2 Forecast Trend (2024-2032)
       8.6.5   Middle East and Africa
           8.6.5.1 Historical Trend (2018-2023)
           8.6.5.2 Forecast Trend (2024-2032)
9   North America Wind Turbine Rotor Blade Market Analysis
   9.1   United States of America
       9.1.1 Historical Trend (2018-2023)
       9.1.2 Forecast Trend (2024-2032)
   9.2   Canada
       9.2.1 Historical Trend (2018-2023)
       9.2.2 Forecast Trend (2024-2032)
10   Europe Wind Turbine Rotor Blade Market Analysis
   10.1   United Kingdom
       10.1.1 Historical Trend (2018-2023)
       10.1.2 Forecast Trend (2024-2032)
   10.2   Germany
       10.2.1 Historical Trend (2018-2023)
       10.2.2 Forecast Trend (2024-2032)
   10.3   France
       10.3.1 Historical Trend (2018-2023)
       10.3.2 Forecast Trend (2024-2032)
   10.4   Italy
       10.4.1 Historical Trend (2018-2023)
       10.4.2 Forecast Trend (2024-2032)
   10.5   Others
11   Asia Pacific Wind Turbine Rotor Blade Market Analysis
   11.1   China
       11.1.1 Historical Trend (2018-2023)
       11.1.2 Forecast Trend (2024-2032)
   11.2   Japan
       11.2.1 Historical Trend (2018-2023)
       11.2.2 Forecast Trend (2024-2032)
   11.3   India
       11.3.1 Historical Trend (2018-2023)
       11.3.2 Forecast Trend (2024-2032)
   11.4   ASEAN
       11.4.1 Historical Trend (2018-2023)
       11.4.2 Forecast Trend (2024-2032)
   11.5   Australia
       11.5.1 Historical Trend (2018-2023)
       11.5.2 Forecast Trend (2024-2032)
   11.6   Others
12   Latin America Wind Turbine Rotor Blade Market Analysis
   12.1   Brazil
       12.1.1 Historical Trend (2018-2023)
       12.1.2 Forecast Trend (2024-2032)
   12.2   Argentina
       12.2.1 Historical Trend (2018-2023)
       12.2.2 Forecast Trend (2024-2032)
   12.3   Mexico
       12.3.1 Historical Trend (2018-2023)
       12.3.2 Forecast Trend (2024-2032)
   12.4   Others
13   Middle East and Africa Wind Turbine Rotor Blade Market Analysis
   13.1   Saudi Arabia
       13.1.1 Historical Trend (2018-2023)
       13.1.2 Forecast Trend (2024-2032)
   13.2   United Arab Emirates
       13.2.1 Historical Trend (2018-2023)
       13.2.2 Forecast Trend (2024-2032)
   13.3   Nigeria
       13.3.1 Historical Trend (2018-2023)
       13.3.2 Forecast Trend (2024-2032)
   13.4   South Africa
       13.4.1 Historical Trend (2018-2023)
       13.4.2 Forecast Trend (2024-2032)
   13.5   Others
14   Market Dynamics
   14.1   SWOT Analysis
       14.1.1   Strengths
       14.1.2   Weaknesses
       14.1.3   Opportunities
       14.1.4   Threats
   14.2   Porter’s Five Forces Analysis
       14.2.1   Supplier’s Power
       14.2.2   Buyer’s Power
       14.2.3   Threat of New Entrants
       14.2.4   Degree of Rivalry
       14.2.5   Threat of Substitutes
   14.3   Key Indicators for Demand
   14.4   Key Indicators for Price
15   Value Chain Analysis
16   Competitive Landscape
   16.1   Market Structure
   16.2   Company Profiles
       16.2.1   TPI Composites Inc.
           16.2.1.1   Company Overview
           16.2.1.2   Product Portfolio
           16.2.1.3   Demographic Reach and Achievements
           16.2.1.4   Certifications
       16.2.2   Nordex SE
           16.2.2.1   Company Overview
           16.2.2.2   Product Portfolio
           16.2.2.3   Demographic Reach and Achievements
           16.2.2.4   Certifications
       16.2.3   Siemens Gamesa Renewable Energy SA
           16.2.3.1   Company Overview
           16.2.3.2   Product Portfolio
           16.2.3.3   Demographic Reach and Achievements
           16.2.3.4   Certifications
       16.2.4   Vestas Wind Systems A/S
           16.2.4.1   Company Overview
           16.2.4.2   Product Portfolio
           16.2.4.3   Demographic Reach and Achievements
           16.2.4.4   Certifications
       16.2.5   MFG Wind
           16.2.5.1   Company Overview
           16.2.5.2   Product Portfolio
           16.2.5.3   Demographic Reach and Achievements
           16.2.5.4   Certifications
       16.2.6   General Electric
           16.2.6.1   Company Overview
           16.2.6.2   Product Portfolio
           16.2.6.3   Demographic Reach and Achievements
           16.2.6.4   Certifications
       16.2.7   Others
17   Key Trends and Developments in the Market

List of Key Figures and Tables

1.   Global Wind Turbine Rotor Blade Market: Key Industry Highlights, 2018 and 2032
2.   Global Wind Turbine Rotor Blade Historical Market: Breakup by Location of Deployment (USD Billion), 2018-2023
3.   Global Wind Turbine Rotor Blade Market Forecast: Breakup by Location of Deployment (USD Billion), 2024-2032
4.   Global Wind Turbine Rotor Blade Historical Market: Breakup by Blade Material (USD Billion), 2018-2023
5.   Global Wind Turbine Rotor Blade Market Forecast: Breakup by Blade Material (USD Billion), 2024-2032
6.   Global Wind Turbine Rotor Blade Historical Market: Breakup by Region (USD Billion), 2018-2023
7.   Global Wind Turbine Rotor Blade Market Forecast: Breakup by Region (USD Billion), 2024-2032
8.   North America Wind Turbine Rotor Blade Historical Market: Breakup by Country (USD Billion), 2018-2023
9.   North America Wind Turbine Rotor Blade Market Forecast: Breakup by Country (USD Billion), 2024-2032
10.   Europe Wind Turbine Rotor Blade Historical Market: Breakup by Country (USD Billion), 2018-2023
11.   Europe Wind Turbine Rotor Blade Market Forecast: Breakup by Country (USD Billion), 2024-2032
12.   Asia Pacific Wind Turbine Rotor Blade Historical Market: Breakup by Country (USD Billion), 2018-2023
13.   Asia Pacific Wind Turbine Rotor Blade Market Forecast: Breakup by Country (USD Billion), 2024-2032
14.   Latin America Wind Turbine Rotor Blade Historical Market: Breakup by Country (USD Billion), 2018-2023
15.   Latin America Wind Turbine Rotor Blade Market Forecast: Breakup by Country (USD Billion), 2024-2032
16.   Middle East and Africa Wind Turbine Rotor Blade Historical Market: Breakup by Country (USD Billion), 2018-2023
17.   Middle East and Africa Wind Turbine Rotor Blade Market Forecast: Breakup by Country (USD Billion), 2024-2032
18.   Global Wind Turbine Rotor Blade Market Structure

Key Questions Answered in the Report

What was the global wind turbine rotor blade market size in 2023?

In 2023, the global wind turbine rotor blade market attained a value of nearly USD 6.19 billion.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 6% between 2024 and 2032.

What is the forecast outlook of the market for 2024-2032?

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 10.49 billion by 2032.

What are the major market drivers?

The major market drivers include the increasing demand for alternative energy sources and the rising demand for sustainable wind energy.

What are the key trends of the market?

The key trends propelling the market growth are the growing development of innovative wind turbine rotor blades, the increasing investments in wind energy, and the rising demand for lightweight wind turbine rotor blades.

What are the major regional markets of wind turbine rotor blade, according to the EMR report?

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the major segments based on location of deployment of wind turbine rotor blade considered in the market report?

Onshore and offshore are the major segments based on location of deployment of the product considered in the market report.

What are the significant blade materials included in the market report?

The significant blade materials included in the market report are carbon fibre and glass fibre, among others.

Who are the key market players, according to the report?

The key wind turbine rotor blade market players include TPI Composites Inc., Nordex SE, Siemens Gamesa Renewable Energy SA, Vestas Wind Systems A/S, MFG Wind, and General Electric, among others.

Analyst Review

The global wind turbine rotor blade market attained a value of nearly USD 6.19 billion in 2023, driven by the rising demand for alternative energy sources. Aided by the growing technological advancements, the market is expected to witness a further growth in the forecast period of 2024-2032, growing at a CAGR of 6%. The market is projected to reach about USD 10.49 billion by 2032.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its locations of deployment, the wind turbine rotor blade industry can be segmented into onshore and offshore. On the basis of blade materials, the industry is divided into carbon fibre and glass fibre, among others. The major regional markets for wind turbine rotor blade are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include TPI Composites Inc., Nordex SE, Siemens Gamesa Renewable Energy SA, Vestas Wind Systems A/S, MFG Wind, and General Electric, among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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