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Global Wind Turbine Rotor Blade Market: By Location of Deployment: Onshore, Offshore; By Blade Material: Carbon Fibre, Glass Fibre, Others; Regional Analysis; Historical Market and Forecast (2017-2027); Market Dynamics; Value Chain Analysis; Competitive Landscape; Industry Events and Developments

Global Wind Turbine Rotor Blade Market Outlook

The global wind turbine rotor blade market attained a value of about USD 5.2 billion in 2020. The market is further expected to grow in the forecast period of 2022-2027 at a CAGR of 6% to reach nearly USD 7.4 billion by 2026.

 

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.

 

Global Wind Turbine Rotor Blade Market

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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: Industry Definition and 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.

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.

 

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 2020
Historical Period 2017-2021
Forecast Period 2022-2027
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, EMR’s 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.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual 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    Industry Opportunities and Challenges
8    Global Wind Turbine Rotor Blade Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Wind Turbine Rotor Blade Historical Market (2017-2021) 
    8.3    Global Wind Turbine Rotor Blade Market Forecast (2022-2027)
    8.4    Global Wind Turbine Rotor Blade Market by Location of Deployment
        8.4.1    Onshore
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2017-2021)
            8.4.1.3    Forecast Trend (2022-2027)
        8.4.2    Offshore
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2017-2021)
            8.4.2.3    Forecast Trend (2022-2027)
    8.5    Global Wind Turbine Rotor Blade Market by Blade Material
        8.5.1    Carbon Fibre
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2017-2021)
            8.5.1.3    Forecast Trend (2022-2027)
        8.5.2    Glass Fibre
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2017-2021)
            8.5.2.3    Forecast Trend (2022-2027)
        8.5.3    Others
    8.6    Global Wind Turbine Rotor Blade Market by Region
        8.6.1    Market Share
            8.6.1.1    North America
            8.6.1.2    Europe
            8.6.1.3    Asia Pacific
            8.6.1.4    Latin America
            8.6.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2017-2021)
        9.1.2    Forecast Trend (2022-2027)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2017-2021)
        9.2.2    Forecast Trend (2022-2027)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2017-2021)
        9.3.2    Forecast Trend (2022-2027)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2017-2021)
        9.4.2    Forecast Trend (2022-2027)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2017-2021)
        9.5.2    Forecast Trend (2022-2027)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis 
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    TPI Composites Inc.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Nordex SE
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    Siemens Gamesa Renewable Energy SA
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Vestas Wind Systems A/S
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    MFG Wind
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    General Electric
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments


List of Figures and Tables

1.    Global Wind Turbine Rotor Blade Market: Key Industry Highlights, 2016 and 2026
2.    Global Wind Turbine Rotor Blade Historical Market: Breakup by Location of Deployment (USD Billion), 2017-2021
3.    Global Wind Turbine Rotor Blade Market Forecast: Breakup by Location of Deployment (USD Billion), 2022-2027
4.    Global Wind Turbine Rotor Blade Historical Market: Breakup by Blade Material (USD Billion), 2017-2021
5.    Global Wind Turbine Rotor Blade Market Forecast: Breakup by Blade Material (USD Billion), 2022-2027
6.    Global Wind Turbine Rotor Blade Historical Market: Breakup by Region (USD Billion), 2017-2021
7.    Global Wind Turbine Rotor Blade Market Forecast: Breakup by Region (USD Billion), 2022-2027
8.    North America Wind Turbine Rotor Blade Historical Market: Breakup by Country (USD Billion), 2017-2021
9.    North America Wind Turbine Rotor Blade Market Forecast: Breakup by Country (USD Billion), 2022-2027
10.    Europe Wind Turbine Rotor Blade Historical Market: Breakup by Country (USD Billion), 2017-2021
11.    Europe Wind Turbine Rotor Blade Market Forecast: Breakup by Country (USD Billion), 2022-2027
12.    Asia Pacific Wind Turbine Rotor Blade Historical Market: Breakup by Country (USD Billion), 2017-2021
13.    Asia Pacific Wind Turbine Rotor Blade Market Forecast: Breakup by Country (USD Billion), 2022-2027
14.    Latin America Wind Turbine Rotor Blade Historical Market: Breakup by Country (USD Billion), 2017-2021
15.    Latin America Wind Turbine Rotor Blade Market Forecast: Breakup by Country (USD Billion), 2022-2027
16.    Middle East and Africa Wind Turbine Rotor Blade Historical Market: Breakup by Country (USD Billion), 2017-2021
17.    Middle East and Africa Wind Turbine Rotor Blade Market Forecast: Breakup by Country (USD Billion), 2022-2027
18.    Global Wind Turbine Rotor Blade Market Structure

Key Questions Answered in the Report

In 2020, the global wind turbine rotor blade market attained a value of nearly USD 5.2 billion.

The market is projected to grow at a CAGR of 6% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2022-2027 to reach about USD 7.4 billion by 2026.

The market is being driven by the increasing demand for alternative energy sources, the rising demand for sustainable wind energy, and the rising deployment of innovative wind turbine rotor blades.

The market is expected to be augmented by 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.

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

The major locations of deployment of wind turbine rotor blade in the industry are onshore and offshore.

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

The major players in the industry are 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 5.2 billion in 2020, 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 2022-2027, growing at a CAGR of 6%. The market is projected to reach about USD 7.4 billion by 2026.

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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