Wind Turbine Blade Market Size, Share, Top Key Players,Manufacturers Analysis, Growth Driver, and Forecast Report to 2027

Wind Turbine Blade Market Overview:-

Generation of electricity from wind is now firmly established as a mainstream source for power generation. Capacity of wind power has significantly increased across the world, as wind turbines have become more powerful, efficient and affordable for power producers in the last decade. These factors will create a positive impact on the demand for wind turbine blades, as they are an essential component in wind power projects. Wind energy is a relatively large single source (around 50%) of all increase in electricity generation globally. To give an example of the importance and growing clout of wind energy, wind energy accounted for around 40% of Denmark’s total power generation, 23% of Portugal and Ireland, and 19% of Uruguay. In South Australia, wind power contributes to around 40% of the total power generation. As per the study conducted by Market Research Future, the global market for wind turbine blade is likely to grow at the CAGR of around 10%.

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Industry Top Key Players:-

Some of the key players in the Wind Turbine blade market are Siemens AG (Germany), Acciona S.A. (Spain), Vestas Wind Systems (Denmark), Suzlon Energy Limited (India), Stem AS (Denmark), and Gamesa Corporacion Tecnologica (Spain).

Technological Developments:

Composites to replace traditional materials owing to their advantages such as faster spin, ability to capture lower velocity winds, strength, flexibility, lightweight and others.

The attractive benefits of composite materials such as faster spin, ability to capture lower velocity winds, lightweight, strength and flexibility, will eventually make them the materials of choice. “A blend of glass fiber reinforced polyester, glass fiber reinforced epoxy, and carbon fiber reinforced epoxy will eventually displace the traditional materials” says Mr. Suhail Noolkar, researcher at Market Research Future. Design flexibility, corrosion-resistant, dimensionally stable, high-dielectric strength, and lower manufacturing costs are added benefits which will result in a complete transformation of industry,” adds Mr. Noolkar.

He also points at the ease of transport, repairs and longer blade life benefits associated with composites. To pitch his stand, Mr. Noolkar further reveals the fact that materials account for more than 90% of the manufacturing costs of a blade, which makes it the critical determinant of turbine cost! Thus if the industry is to survive the competetion from other energy sources, then material innovation is a must.

Wind Turbine Blade Global Market Segments:-

The Wind Turbine Blade market has been segmented on the basis of type as glass fiber and carbon fiber. On the basis of size the market has been segmented as 50 Meter.

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Regional Analysis:

Europe is the undisputed leader in the wind turbine blades market with a share of greater than 40 % in 2016, led by Germany, France, Norway, Finland, and others. The support from the European governments and the EU, as a whole owing to contributions for carbon emission reduction goals has led to over 272.6 MW installed capacity by the end of 2015.

North America led by the U.S. accounts for the second largest market share of small wind turbines. The Asia Pacific region is anticipated to be the fastest growing market. China followed by India and Japan has the largest number of wind power project projects under planning and construction phase.

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