Press release
Wind Turbine Rotor Blades Market is Poised to Reach US$ 33 Bn by 2025
According to Persistence Market Research (PMR), global wind energy installations have increased from 282.2 GW in 2012 to 486.7 GW in 2016. This is positively impacting the growth of the global wind turbine rotor blade market.
Increasing emphasis on wind power generation, combined with favorable government policies and assistance are also contributing to steady adoption of wind turbine rotor blades. Feed-in-tariffs and generation-based incentives enticing venture capitalists to invest in this fledgling market.
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According to PMR’s report, wind energy harnessing was concentrated in developed regions; however, it is now being steadily adopted in emerging regions of Asia, Africa, and Latin America. Emphasis on wind energy is also expected to receive a fillip from the long-term target adopted by Climate Change Conference of the Parties (COP21).
Although PMR maintains a positive outlook on the global wind turbine rotor blade market, technological competition with solar panels, combined with public issues surrounding wind project management can impede growth in the long-term.
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The key opportunities identified by Persistence Market Research include offshore wind system installations and development of carbon composite wind turbine rotor blades.
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.
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About Us
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients’ business needs.
PMR stands committed to bringing more accuracy and speed to clients’ business decisions. From ready-to-purchase market research reports to customized research solutions, PMR’s engagement models are highly flexible without compromising on its deep-seated research values.
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