About Wind Turbine Rotor Blades
A wind turbine rotor blade is an indispensable airfoil-shaped component designed to produce electricity by absorbing kinetic energy to torque through aerodynamic forces around a central hub. It usually encompasses three blades in a tip-speed ratio (TSR) structure that offers low inertia and optimal mechanical strength. Apart from this, the wind turbine rotor blade aids in sweeping and capturing more area and wind, enabling faster tip turns, and converting this energy into rotary motions. Based on these properties, it finds extensive applications in various onshore and offshore locations to sail and generate renewable energy. At present, wind turbine motors are commercially available in varying blade shapes, inclination angles, configurations, and sizes.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global Wind Turbine Rotor Blades market is strongly competitive and having some of the leading key players. In terms of market share, some of the leading players are presently dominating the global market. These market players are highly focusing on strategic collaborative initiatives to enhance their market share and also improve their profitability. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Acciona S.A. (Spain), Enercon GmbH (Germany), INOX Wind Limited (India), LM Wind Power (Denmark), Moog Inc. (United States), Nordex SE (Germany), SGS S.A. (Switzerland), Siemens (United States), Gamesa Renewable Energy S.A. (Siemens Energy AG) (Spain) and Suzlon Energy Limited (India) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Vestas Wind Systems A/S (Denamrk), TPI Composites Inc. (United States), Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd (China), Vestas Wind Systems A/S (Denmark) and MFG (United States).
Segmentation Overview
AMA Research has segmented the market of Global Wind Turbine Rotor Blades market by Type (Glass Fiber and Carbon Fiber), Application (Onshore and Offshore) and Region.
On the basis of geography, the market of Wind Turbine Rotor Blades has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material , the sub-segment i.e. Glass Fiber will boost the Wind Turbine Rotor Blades market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Capacity, the sub-segment i.e. Less Than 2 MW will boost the Wind Turbine Rotor Blades market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Size, the sub-segment i.e. Up-to 27 Meters will boost the Wind Turbine Rotor Blades market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid adoption of Offshore wind farms
Market Growth Drivers:
Increasing adoption of renewable energy and Rising wind turbine installations
Challenges:
Technical and Durability Concerns
Restraints:
High manufacturing costs
Opportunities:
The growing demand for clean energy generation and Rising focus on wind energy expansion
Market Leaders and their expansionary development strategies
In January 2023, GE and TPI also plan to work together on GE’s next generation blade types including the possibility of adding more production lines in 2023, in addition to the nine production lines. TPI through this strategic supplier agreement, which enables GE to continue providing competitive, high tech wind turbines to our customers
In September 2023, Siemens Gamesa introduced the Recyclable Blade, the globe's first wind turbine blade that can be recycled at the end of its lifecycle. This breakthrough is a critical step towards Siemens Gamesa's ambitious objective to create wind turbine blades completely recyclable
Key Target Audience
Manufacrturing companies, Market Research & Consultancy Firm, Potential Investors, Government & Regulatory Bodies and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.