What is Wind Energy Composite Market?
Wind energy composite consists of two or more composite material blended to provide mechanical and lightweight properties for adding strength and stiffness in blades along with the proper distribution of the load. The composites materials like fiberglass, carbon fibers are commonly used in various wind application as it provides required flexibility and stiffness to the wind energy turbines for smooth operations.
Highlights from Wind Energy Composite Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Exel Composites Oyj (Finland), Siemens AG (Gamesa) (Germany), TPI Composites, Inc. (United States), Molded Fiber Glass Companies (MFG) (United States), LM Wind Power (Denmark), Suzlon Energy Ltd, (India), Nordex SE (Germany), Enercon GmbH (Germany) and AVIC Huiteng Windpower Equipment Co. Ltd. (China) |
Exel Composites Oyj (Finland), Siemens AG (Gamesa) (Germany), TPI Composites, Inc. (United States), Molded Fiber Glass Companies (MFG) (United States), LM Wind Power (Denmark), Suzlon Energy Ltd, (India), Nordex SE (Germany), Enercon GmbH (Germany) and AVIC Huiteng Windpower Equipment Co. Ltd. (China) are some of the key players profiled in the study. Wind Energy Composite Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Leaf Blade, Nacelles, Chassis and Other |
Type | Natural Composites and Hybrid and Nanoengineered Composites |
Material | Fiberglass,Carbon Fiber,Epoxy,Polyester,Others |
Process | Vacuum Injection Moulding,Hand Lay-Up,Prepreg |
On the basis of geography, the market of Wind Energy Composite 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). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Use of Wind Energy Turbines in Leaf Blade and Nacelles
Market Growth Drivers:
Growing Demand for Renewable Energy Around the World and Increasing Production of Wind Power Station Demands Good Mechanical Properties and Lightweight Materials in the Wind Turbines Operation
Challenges:
Stringent Regulatory Guidelines and Standards on the Wind Energy Composite
Restraints:
Problem with the Composite Materials Fatigue Issues in Wind Turbine Blade Construction
Opportunities:
Technological Advancement and Upgradation in the Wind Energy Composite Materials
Key Target Audience
Wind Energy Composite Manufacturers, Wind Energy Sector Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
On 23rd September 2020, LM Wind Power including cross-sector Consortium announced a project to design and manufacture the wind industry first 1010% recyclable wind turbine blade. Wind energy, both onshore and offshore, plays a critical role in the world’s transition to carbon-free energy sources. With a product lifespan of 30 years and a wind turbine recyclability rate of 85% to 90%, the wind power industry is now looking to close the remaining gap by designing and manufacturing the first 100% recyclable wind turbine blade.