Wind Turbine Blade Market 2019 Global Industry Research Report is latetst depth analysis and comprehessive study on “Global Wind Turbine Blade Market”, published by Market Research Future. Market For Wind Turbine Blade segmented by Type (Glass Fiber and Carbon Fiber), size (<27 Meter, 27-37 Meter, 38-50 Meter, and >50 Meter) and Region. According to report Global Wind Turbine Blade market is to rise at 10% CAGR by 2027.
Key Players
Siemens AG, General Electric, Vestas Wind Systems A/S, Enercon GMBH, Suzlon Energy Limited, Acciona, S.A., Nordex SE, SINOI GmbH, EWT B.V., and Rotoby are some of the prominent players profiled by the researchers in the report.
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Global Wind Turbine Blade Market Overview
Generation of electricity from wind has been established as a mainstream source of power generation. Capacity of wind power has witnessed significant rise across the globe, as wind turbines are becoming more powerful, efficient, and affordable for power producers in the last 10 years. These factors are anticipated to create a positive impact on the demand for wind turbine blades, due to their vitality in wind power projects. The wind energy has become a relatively large, single source guiding the mounting electricity generation all over the globe. Wind energy accounted for around 40% of Denmark’s total power generation and around 23% of Portugal and Ireland, and 19% or Uruguay.
The global wind turbine blade market is primarily driven the regulations introduced by governments of various regions all over the globe. Further, reduction in the cost of power generation using wind energy has also led to mounting adoption of wind turbines as an alternative to other sources of energy. Furthermore, governments have initiated various activities to promote a higher use of wind energy in the power generation mix, which is generating higher demand for wind turbine blades. A decline in the cost of kWh for the generation of power using wind energy has made the shift from non-renewable energy to renewable sources of energy much more attractive.
However, the deployment of wind energy generation systems requires huge capital costs for such projects which may hinder the growth of the global wind rotor blade market over the forecast period. The global wind turbine blade market size is likely to bulge up at a CAGR of 10% by 2027. Alternatively, technological innovation, since the last 10 years has witnessed significant improvements in the process of power generation using wind energy. Hence, the limits related to maximum operable length may put the new installations on hold, owing to the problems associated with on-site installation and transportation of larger blades. Since it is an important source of renewable energy with no moving parts or noise pollution, solar panels are bound to pose a larger threat to the wind turbine blade market in the forthcoming years.
Market Segmentation
The global wind turbine rotor market is studied for various segments that are based on type, size, and region. By type, the global wind turbine blade market is studied by segmenting into glass fiber turbine blade design and carbon fiber turbine blade design. Based on size, the wind turbine blade industry is segmented into <27 Meter, 27-37 Meter, 38-50 Meter, and >50 Meter.
Detailed Regional Analysis
The global wind turbine blade market is analyzed by being segmented into North America, South America, Asia Pacific, Europe, and Rest of the World. Presently, the global wind turbine blade market share is anticipated to be the maximum in Asia Pacific. Advances in the wind turbine blade market in the APAC is estimated to flourish over the forecast period owing to the upscaling demand for electricity in developing countries such as India and China, along with growing government initiatives that are encouraging the production of wind energy.
Europe is estimated to emerge as one of the most significant growth pockets during the forecast period. Demand for wind turbine blades in this market is likely to magnify, especially in the Western Europe, owing to the high acceptance of technologically advanced turbines. Further, a presence of conducive environmental conditions is also expected to promote the adoption of wind energy systems in the region, hence contributing to the ascending demand for wind turbine blades.
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