Wind Turbine Rotor Blades Market to Reach USD 37.62 billion at a CAGR of 9.3% from 2022 to 2028

Wind Turbine Rotor Blades Market 2022 -Summary

The market for wind turbine rotor blades is expected to grow from its current value of USD 18.47 billion in 2021 to USD 37.62 billion by 2028, at a CAGR of 9.3% from 2022 to 2028.

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The continuing adoption of wind turbine rotor blades is also being aided by a focus on wind energy generation as well as supportive government policies and programmes. Venture capitalists are enticed to invest in this developing sector by feed-in tariffs and generation-based incentives.

The analysis by PMR states that whereas wind energy harnessing was previously focused in developed nations, it is now gradually spreading to developing regions in Asia, Africa, and Latin America. The long-term goal set by the Climate Change Conference of the Parties is also anticipated to give emphasis on wind energy a boost (COP21).

Although PMR continues to have a favourable prognosis for the global wind turbine rotor blade industry, long-term growth may be hampered by technological competition from solar panels and public concerns about wind project management.

Company Profiles-

• TPI Composite
• Nordex SE
• Vestas Wind Systems A/S
• Senvion S.A.
• LM Wind Power
• Enercon GmbH
• Siemens Wind Power
• Carbon Rotec GmbH & Co. KG
• Sinomatech Wind Power Blade Co.
• GE Renewable Energy
• and more

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Key trends shaping the global wind turbine rotor blade market include,

Growing preference for long rotor blades: Operators are looking to maximize energy output, as a result of which, demand for long rotor blades is growing significantly.
Manufacturers are aiming at uniformity and quality control; due to this, demand for modular blade design is gaining traction.
In a bid to deal with extreme conditions on offshore farms, foldable rotor blades, ones that mimic palm trees, are steadily witnessing an uptick in demand.

By blade length, the global wind turbine rotor blade market has been segmented into,

Below 45 meters
45-60 meters
Above 60 meters

Among these, demand for 45-60 meters rotor blades is the highest, with this segment accounting for nearly 66% revenue share. In terms of revenue, the 45-60 meter rotor blades are expected to grow at 19.1% CAGR to reach US$ 18.93 Bn in revenues.

By blade material, the global wind turbine rotor blade market has been segmented into glass fiber and carbon composite. Currently, glass fibers outsell carbon composites, and the trend is expected to remain so during the forecast period. According to Persistence Market Research, glass fibers segment accounted for 95.5% revenue share of the market.

By application, the global wind turbine rotor blade market has been segmented into onshore and offshore. Currently, bulk of rotor blades are deployed onshore, with this segment accounting for 96.2% revenue share of the market. In terms of revenue, the onshore segment was valued at US$ 5.87 Bn in 2016.

In its report, Persistence Market Research offers market forecast and analysis on North America, Latin America, Europe, Asia Pacific, and MEA. Key companies profiled in the report include LM Wind, Siemens, CNBM, Sinoma, and TPI Composites.

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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)

Key Stakeholders 

Wind Turbine Rotor Blades Market Manufacturers 
Wind Turbine Rotor Blades Market Distributors/Traders/Wholesalers 
Wind Turbine Rotor Blades Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

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