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 blademarket 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:
Breakup by Blade Length:
Below 45 Meters
Above 60 Meters
Breakup by Location of Deployment:
Breakup by Region:
Middle East and Africa
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.
Base Year of the Analysis
Blade Material, Blade Length, Location of Deployment, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
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.
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Key Questions Answered in This Report
The global wind turbine rotor blade market was valued at US$ 21.6 Billion in 2022.
We expect the global wind turbine rotor blade market to exhibit a CAGR of 8.52% during 2023-2028.
The rising installation of wind turbine rotor blades across various onshore and offshore wind power plants to generate renewable energy is primarily driving the global wind turbine rotor blade market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary closure of numerous manufacturing units for wind turbine rotor blades.
Based on the blade material, the global wind turbine rotor blade market can be segmented into carbon fiber, glass fiber, and others. Currently, carbon fiber holds the majority of the total market share.
Based on the blade length, the global wind turbine rotor blade market has been divided into below 45 meters, 45-60 meters, and above 60 meters. Among these, 45-60 meters currently exhibit a clear dominance in the market.
Based on the location of deployment, the global wind turbine rotor blade market can be categorized into onshore and offshore. Currently, onshore accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global wind turbine rotor blade market include 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.
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