DUBLIN--(BUSINESS WIRE)--The "Global Wind Turbine Rotor Blade Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
Driven by advancements in technologies and the significant reduction in the cost of generation and associated risks, the use of wind energy as a source of electricity generation has witnessed increased demand across regions.
In 2017, the total wind power installation capacity reached above 50 gigawatts (GW), with Europe and Asia-Pacific experiencing a record high. The governments across the globe, are trying to increase the share of wind in the renewable energy mix, which is likely to supplement the demand for wind turbines. The market for rotor blades is expected to increase significantly, during 2018-2023 (the forecast period), as it is directly dependent on the demand of wind turbines.
Technological advancements have significantly reduced the associated risks and the cost of electricity generation from offshore wind farms, which in turn, has attracted interest globally. The global installed capacity of offshore wind capacity has reached approximately 14,384 megawatts (MW) in 2016.
The European region accounts for approximately 90% of the all offshore wind installations and is expected to invest further in the same, during the forecast period. The governments outside of the European region, such as in the country of China, Japan, South Korea, Taiwan, and the United States, have set ambitious targets for the installation of offshore wind farms in their territorial waters, which is expected to further supplement the demand for wind turbines.
Low cost carbon fiber materials, which offers reduced weight and better performance, is expected to witness increased demand for turbines to be installed in the offshore waters. Numerous other countries are also expected to increase their investment for offshore wind farms, during the forecast period, which in turn, is expected to offer enormous potential for growth, for wind turbine's rotor blade manufacturers and suppliers.
- TPI Composites Inc.
- Senvion SA
- General Electric Company
- Nordex SE
- Siemens Gamesa Renewable Energy SA
- Vestas Wind Systems A/S
- CARBON ROTEC GmbH & Co KG
- Molded Fiber Glass Companies (MFG)
- Tecsis GmbH
- Sinomatech Wind Power Blade Co. Ltd
- Aeris Energy
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