Dublin, April 08, 2024 (GLOBE NEWSWIRE) -- The "Wind Turbine Rotor Blades - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Wind Turbine Rotor Blades Market to Reach $50.3 Billion by 2030
The global market for Wind Turbine Rotor Blades estimated at US$29.8 Billion in the year 2023, is projected to reach a revised size of US$50.3 Billion by 2030, growing at a CAGR of 6.7% over the analysis period 2023-2030.
The urgent need to address climate change has laid the groundwork for the rise of renewable energy, with a robust focus on renewables setting the stage for the growth of wind energy. Global clean energy investments underscore the increasing attractiveness of wind energy, recognized for its myriad benefits among all renewable sources. The strong outlook for wind energy capacity expansions presents significant opportunities for wind turbines and their allied components, such as rotor blades.
Above 60 Meters Wind Turbine Rotor Blades, one of the segments analyzed in the report, is projected to record 7.2% CAGR and reach US$14.8 Billion by the end of the analysis period. Growth in the 45 - 60 Meters Wind Turbine Rotor Blades segment is estimated at 6.7% CAGR for the next 8-year period.
Amidst a dynamic global economic landscape, competition in the wind turbine rotor blades market reflects varying degrees of market presence among players in 2023, categorized as strong, active, niche, or trivial. Recent market activity indicates ongoing developments in response to emerging trends and drivers, including upgrades to aging energy infrastructure and growing policy-led emphasis on integrating wind energy into utility energy mixes. Additionally, the falling cost of wind energy is expected to spur investments in wind farms and allied turbine technologies, further driving the demand for wind turbine rotor blades.
The U.S. Market is Estimated at $5.8 Billion, While China is Forecast to Grow at 8.1% CAGR
The Wind Turbine Rotor Blades market in the U.S. is estimated at US$5.8 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$10.3 Billion by the year 2030 trailing a CAGR of 8.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.4% and 5.7% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR.
MARKET OVERVIEW
- Urgent Need to Address Climate Change Provides the Foundation for the Rise of Renewable Energy
- Robust Focus on Renewables Sets the Stage for the Growth of Wind Energy: Global Clean Energy Investments (In US$ Billion) for Years 2017, 2019, 2021, and 2023
- Myriad Benefits Make Wind Energy the Most Attractive of All Renewable Energy Sources
- Strong Outlook for Wind Energy Capacity Expansions Offers Opportunities on a Platter for Wind Turbines & Allied Components: Global Cumulative Installed Capacity of Wind Energy (In Gigawatts) for Years 2013, 2015, 2017, 2019, 2021, 2023 and 2025
- Global Economic Update
- Competition
- Wind Turbine Rotor Blades - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Wind Turbine Rotor Blades: Overview, Benefits, Materials & Types
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Upgrades to Aging Energy Infrastructure, Distributed Energy, & Growing Policy Led Emphasis On Integrating Wind Energy Into Utility Energy Mix Bodes Well for Increased Deployment Opportunities for Wind Turbine Rotor Blades
- Falling Cost of Wind Energy to Step Up Investments in Wind Farms & Allied Turbine Technologies
- Onshore Wind Remains Among the Cheapest Sources of New Bulk Power Generation: Global Levelised Cost of Electricity ($/MWh) by Energy Type As of the Year 2022
- Innovative & Smart Wind Turbine Blades Emerge Into the Spotlight
- Carbon Fiber Based Wind Turbine Blade to Witness Strong Growth
- New Developments in Carbon-Fiber-Reinforced Polymers as Evidenced by the Growing Market for Carbon Fibre Composites Bodes Well for Development of Innovative Carbon Fiber Based Turbine Blades: Global Market for Carbon Fiber Composites (In US$ Billion) for Years 2023, 2025, 2027, 2029 & 2031
- Demand for Larger Wind Turbines Drives Parallel Popularity of Longer Turbine Blades
- Focus on Sustainability & Parallel Rise in Concerns Over Disposing End-of-Life Turbine Blade Leads to Innovation
- As Sustainability Emerges Into an Unstoppable Force, Innovative Efforts Get Underway to Keep Turbine Blades from Ending Up in Landfills: Global Investments in Sustainability (In US$ Billion) for Years 2015, 2018, 2020 and 2022
- Emphasis on Monitoring Brings Wind Turbine Blade Sensors into the Spotlight
FOCUS ON SELECT PLAYERS(Total 22 Featured)
- Aeris Energy
- Enercon GmbH
- Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd.
- LM Wind Power
- Nordex SE
- Siemens Gamesa Renewable Energy SA
- Suloz Energy Ltd.
- TPI Composites Inc.
- Vestas Wind Systems A/S
For more information about this report visit https://www.researchandmarkets.com/r/8f1cg6
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