Global Wind Turbine Rotor Blade Market Size study & Forecast, by Material Type (Glass Fiber, Carbon Fiber) by Blade Size (<27 Meter, 27-37 Meter, 38-50 Meter, and >50 Meter), and Regional Analysis, 2022-2029

Global Wind Turbine Rotor Blade Market Size study & Forecast, by Material Type (Glass Fiber, Carbon Fiber) by Blade Size (<27 Meter, 27-37 Meter, 38-50 Meter, and >50 Meter), and Regional Analysis, 2022-2029

Global Wind Turbine Rotor Blade Market is valued at approximately USD XXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. In terms of performance and cost of the wind power system, rotor blades are the most crucial components of a wind turbine. Performance is directly impacted by the rotor blade shape since it determines how wind kinetic energy is converted to mechanical energy (torque). The Wind Turbine Rotor Blade market is expanding because of factors such as the growing number of offshore and onshore wind energy installations across the world and strict government regulations to limit carbon emission.

In 2021, according to the GWEC, the US onshore wind industry had the second-highest annual new installations in the world, with over 12.74 GW commissioned. The anticipated phase-out of the Production Tax Credit, which directly benefits the market for onshore wind turbine rotor blades, was a major factor in the onshore wind installation in the United States since project developers had to make their deadline. Furthermore, onshore wind energy will drive the market demand in the European region to attain net-zero carbon emissions by 2030, claims WindEurope. Around 90% of wind energy, according to GWEC, is used by onshore wind energy capacity. It's anticipated that the market will be driven by the severe requirements to decrease carbon emissions and phase out conventional power systems. Thus, rising installation of onshore wind projects is catering for the growth of the market. Furthermore, technological advancements create prospects for the market for wind turbine rotor blades. However, High transportation costs and the affordability of other clean energy sources such as solar electricity, hydropower, and so on. could restrain market expansion stifle market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Wind Turbine Rotor Blade Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Among these regions, Asia Pacific holds the highest share owing to factors such as rising installation of various offshore, and onshore wind projects, rising government support, and rising demand for conversion of renewable energies in the region. Furthermore, North America holds the fastest share owing to factors such as rising adoption of renewable resources and technological advancement.

Major market player included in this report are:
TPI Composites Inc.
Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd.
LM Wind Power (a GE Renewable Energy business)
Nordex SE
Siemens Gamesa Renewable Energy, S.A.
Vestas Wind Systems A/S
MFG Wind
Sinoma wind power blade Co., Ltd.
Aeris Energy
Suzlon Energy Limited

Recent Developments in the Market:
 In March 2022, Hitachi Power Solutions announced the launch of Blade Total Service, a new line of sophisticated services. By fusing AI and other digital technologies with cutting-edge drone technology, it is anticipated that the risks associated with wind power facilities, such as deterioration due to rotating blade wear and tear, stress from violent winds during typhoons, and damage caused by lightning, will be reduced.
 In March 2021, In Teesside, in the Northeast of England, GE Renewable Energy announced plans to build a new blade manufacturing facility. This facility is run by LM Wind Power, a division of GE Renewable Energy, and its goal is to create offshore wind turbine blades that are 107 metres long.

Global Wind Turbine Rotor Blade Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Material Type, Blade Size, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Material Type offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Material Type:
Glass Fiber
Carbon Fiber
By Blade Size:
<27 Meter
27-37 Meter
38-50 Meter
>50 Meter
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned

TPI Composites Inc.
Lianyungang Zhongfu Lianzhong Composites Group Co., Ltd.
LM Wind Power (a GE Renewable Energy business)
Nordex SE
Siemens Gamesa Renewable Energy, S.A.
Vestas Wind Systems A/S
MFG Wind
Sinoma wind power blade Co., Ltd.
Aeris Energy
Suzlon Energy Limited

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