Wind Turbine Rotor Blade Market by Application, Material, and Geography - Forecast and Analysis 2021-2025

The wind turbine rotor blade market size has the potential to grow by USD 6.97 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR of 5.05%. 

This report provides a detailed analysis of the market by application (onshore and offshore), material (glass fiber, carbon fiber, and others), and geography (APAC, Europe, North America, MEA, and South America), and key vendors. 

Market Overview

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Market Competitive Analysis

The report analyzes the market’s competitive landscape and offers information on several market vendors, including: 

 

• Acciona SA
• General Electric Co.
• Mingyang Smart Energy Group Co. Ltd.
• SANY Group Co. Ltd.
• Senvion SA
• Siemens Gamesa Renewable Energy SA
• Suzlon Energy Ltd.
• TPI Composites Inc.
• UNISON Co, ltd.
• Vestas Wind System AS

 

The wind turbine rotor blade market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

The market players also significantly leverage external market drivers such as decreasing LCOE of wind energy to achieve growth opportunities. However, factors such as competition from alternative sources of energy will challenge the growth of the market participants. To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the wind turbine rotor blade market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

This wind turbine rotor blade market analysis report also provides detailed information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities. 

Wind Turbine Rotor Blade Market: Key Drivers and Trends

The decline in the LCOE of wind energy has made wind power a feasible option for electricity generation. The declining costs of wind turbines, decrease in operating and maintenance costs, the increasing heights of wind infrastructure, the low costs of financing, and the rising supply of turbines have reduced the LCOE of wind energy. The growing electricity demand and the rising need to reduce carbon footprints is fueling the adoption of wind energy.  The rising wind turbine installations is driving the wind turbine rotor blade market growth.

Offshore wind farms are experiencing rapid adoption, owing to better operational conditions compared with onshore wind farms. Offshore wind farms allow the installation of huge turbines, which leads to higher outputs even with a smaller number of turbines. There is a rise in the number of offshore wind farm installations because of factors such as high annual energy production (AEP). This is one of the key wind turbine rotor blade market trends.

 

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Wind Turbine Rotor Blade Market: Segmentation by Geography

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45% of the market’s growth will originate from APAC during the forecast period. China is a key market for wind turbine rotor blades in APAC. Market growth in this region will be faster than the growth of the market in Europe, North America, and South America.

The new wind capacity additions will facilitate the wind turbine rotor blade market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report. 

Wind Turbine Rotor Blade Market: Segmentation by Application

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The onshore segment of the wind turbine rotor blade market is primarily driven by the declining LCOE of wind power globally. Favorable regulatory policies to promote onshore wind power development will also augment the growth of the onshore segment of the wind turbine rotor blade market during the forecast period.

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the wind turbine rotor blade market size.

 

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Wind Turbine Rotor Blade Market: Key Highlights of the Report for 2021-2025

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive wind turbine rotor blade market growth during the next five years
• Precise estimation of the wind turbine rotor blade market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the wind turbine rotor blade industry across APAC, Europe, North America, MEA, and South America
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of wind turbine rotor blade market vendors

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Wind Turbine Rotor Blade Market Scope
Report Coverage	Details
Page number	120
Base year	2020
Forecast period	2021-2025
Growth momentum & CAGR	Accelerate at a CAGR of 5%
Market growth 2021-2025	$ 6.97 billion
Market structure	Fragmented
YoY growth (%)	4.37
Regional analysis	APAC, Europe, North America, MEA, and South America
Performing market contribution	APAC at 45%
Key consumer countries	China, US, UK, The Netherlands, and Germany
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Acciona SA, General Electric Co., Mingyang Smart Energy Group Co. Ltd., SANY Group Co. Ltd., Senvion SA, Siemens Gamesa Renewable Energy SA, Suzlon Energy Ltd., TPI Composites Inc., UNISON Co, ltd., and Vestas Wind System AS
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.