Wind Turbine Rotor Blade Market

Market Overview:

The global wind turbine rotor blade market size reached US$ 21.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 28.3 Billion by 2028, exhibiting a growth rate (CAGR) of 8.52% during 2023-2028.

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.

Wind Turbine Rotor Blade Market Trends:

The increasing need for alternative energy sources and the extensive employment of wind energy power generation technology to maximize electricity production has supplemented product usage across the globe. This is further supported by the rising demand for efficient energy sources and the ongoing depletion of petroleum-based resources. In line with this, escalating environmental concerns have prompted governments to promote the uptake of eco-friendly assets, such as wind turbines, to mitigate carbon emissions, which is acting as another growth-inducing factor. Moreover, the rising employment of various materials, such as aluminum, wood, and plastics, to engineer advanced wind turbine rotor blades at cost-effective prices is supporting the market growth. Additionally, the advent of aircraft wing structures designed product variants to improve operational efficiency and the incorporation of glass fiber reinforced plastics and epoxy in wind turbine rotor blades are contributing to the market growth. Other factors, such as ongoing wind system installation across offshore areas and strategic collaborations amongst key players to launch lightweight, recyclable wind rotor blades, are creating a positive outlook for the market. 

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global wind turbine rotor blade market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on blade material, blade length and location of deployment.

Breakup by Blade Material:

• Carbon Fiber
• Glass Fiber
• Others
   

Breakup by Blade Length:

• Below 45 Meters
• 45-60 Meters
• Above 60 Meters
   

Breakup by Location of Deployment:

• Onshore
• Offshore
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Acciona S.A., Enercon GmbH, INOX Wind Limited, LM Wind Power (General Electric Company), Moog Inc., Nordex SE, SGS S.A., Siemens Gamesa Renewable Energy S.A. (Siemens Energy AG), Suzlon Energy Limited and Vestas Wind Systems A/S.

Report Coverage: