Global wind turbine rotor blade market estimated to reach over US $20 billion by 2019, says Technavio

Renewable energy


This global market research analysis segments the wind turbine rotor blade market by application (onshore and offshore), by blade size (37-60 m, 61-75 m, 76-90 m, and 90+ m), and by geography (APAC, EMEA, and the Americas). Leading vendors analyzed in this market study are Enercon, Gamesa, Goldwind, LM wind Nordex, TPI, and power, MFG, Vestas.

Technavio’s market research analysts estimate the global wind turbine rotor blade market to grow at a CAGR of around 13% between 2015 and 2019. The global market for wind turbine rotor blades is positively influenced by the growth of the offshore wind energy market. The APAC dominates this market, occupying around 45% of the total market share. The growing preference for renewable energy projects and increasing investments in wind power projects are the two major factors that impel growth in this region.

The new market research report from Technavio provides a breakdown and analysis of the wind turbine rotor blades segments by technology.

“Rapid offshore wind energy turbine installations across the globe is boosting the demand for wind turbine rotor blades. Rotor blades are an integral part of the wind turbine which capture electrical energy from wind. The offshore wind is more powerful and consistent, has higher wind speed, and fewer environmental concerns. This has propelled the usage of rotor blades for producing adequate electricity in this emerging sector,” says Navin Rajendra, Lead Analyst, Energy, Technavio Research.

The 37-60 m wind turbine rotor blades hold the largest segment of the market, accounting for 39% of the total market share. These blades are the most widely used ones owing to their shorter and lighter capacity. These rotor blades are deployed for reliable operations and lesser maintenance. This segment is expected to witness rapid growth during the forecast period because of increasing investments coming from countries with low wind speeds.

The key vendors in the global wind turbine rotor blade market include Enercon, Gamesa, Goldwind, LM wind Nordex, TPI, and power, MFG, Vestas. This market is well diversified and is characterized by the presence of numerous international, regional, and local vendors. In both developed and developing countries, the local or regional vendors dominate the market as they have the capability to manufacture low cost rotor blades. The abundance of wind energy is expected to result in market growth, which in turn will impel competition in the wind turbine rotor blade market.

A more detailed analysis is available in the Technavio report, Global Wind Turbine Rotor Blade Market 2015-2019.

We can customize reports by other regions and specific segments upon request.

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