Global Wind Turbine Rotor Blade Market Trends, Market Share, Industry Size, Growth, Opportunities and Market Forecast – 2022 to 2028

The global wind turbine rotor blade market is anticipated to grow at a significant CAGR of 10.2% during the forecast period (2022-2028). Wind turbines have been used extensively to convert wind energy into electricity. The generator of the wind turbine is powered by the rotor blades, which results in the production of electricity. The overall efficiency of a wind turbine is determined by factors, such as the raw material used to make rotor blades, the blade shape, and the angle of inclination.

The primary growth driver for the global wind turbine rotor blade market is the growing awareness of the economic benefits of green energy sources, like wind energy. Furthermore, rising global worries about the environment and fossil fuel usage have boosted the demand for wind turbine rotor blades. In the near years, the repowering of aged wind power infrastructure is predicted to boost the wind turbine rotor blade industry.

Further, the number of offshore and onshore wind energy projects around the globe is also increasing rapidly. The wind energy sector has long been in need of cost-effective solutions, and a highly efficient product has the ability to shift the industry’s dynamics. Old turbines have been changed in the past, not due to damage, but due to more efficient blades being available in the market. As a result of the setechnological advancements, the market for wind turbine rotor blades is expected to grow significantly during the forecast period.

The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, in order to stay competitive in the market. For instance-

• In March 2022, with the production of its 100% recyclable wind turbine prototype blade, the ZEBRA (Zero Waste Blade Research) consortium has taken a significant step in the wind energy industry’s transition to a circular economy. Arkema’s Elium resin, a thermoplastic compound recognized for its recyclable characteristics, and Owens Corning’s innovative high-performance Glass Fabrics were used to create the 62-meter blade.
• In March 2022, Hitachi Power Solutions launched Blade Total Service, an improved service. Combining AI and other digital technologies with cutting-edge drone technology is projected to decrease the risks of wind generating facilities, such as degradation due to spinning blade wear and tear, the stress imposed by severe winds during typhoons, and damage caused by lightning.
• In March 2021, GE Renewable Energy revealed its intention to build a new blade manufacturing facility in Teesside, England. This plant will be operated by LM Wind Power, a subsidiary of GE Renewable Energy, with the goal of producing 107-meter-long offshore wind turbine blades.

Market Coverage

• The market number available for – 2021-2028
• Base year- 2021
• Forecast period- 2022-2028
• Segment Covered-
  • By Location of Deployment
  • By Blade Material
• Regions Covered-
  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World
• Competitive Landscape-TPI Composites Inc., Vestas Wind Systems A/S, Enercon GmbH, LM Wind Power (a GE Renewable Energy business), and Siemens Gamesa Renewable Energy, S.A., among others.

Key questions addressed by the report

• What is the market growth rate?
• Which segment and region dominate the market in the base year?
• Which segment and region will project the fastest growth in the market?
• How has COVID-19 impacted the market?
  • Deviation from the pre-COVID-19 forecast
  • Most affected region and segment
• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Global Wind Turbine Rotor Blade Market Report by Segment

By Location of Deployment

• Onshore
• Offshore

By Blade Material

• Carbon Fiber
• Glass Fiber
• Others