LONDON--(BUSINESS WIRE)--The wind turbine rotor blade market is poised to grow by USD 6.09 billion during 2020-2024, progressing at a CAGR of over 4% during the forecast period. Request free sample pages
Read the 143-page report with TOC on "Wind Turbine Rotor Blade Market Analysis Report by Application (Onshore and Offshore), Material (Glass fiber, Carbon fiber, and Others), and Geographic segmentation (APAC, EMEA, North America and South America), and the Segment Forecasts, 2020-2024".
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The market is driven by the decrease in LCOE of wind energy. In addition, the rising number of offshore wind farm installations are anticipated to boost the growth of the wind turbine rotor blade market.
The adoption of wind turbine rotor blades is increasing due to the growing popularity of wind energy as a cost-effective source of electricity generation. In addition, a decline in the total installation cost and technological advances such as increased hub height have propelled the installation of both onshore and offshore wind turbines. The rising supply of turbines, low costs of financing, and decreasing operating and maintenance costs are some factors contributing to a decline in the LCOE of wind power generation. This has made wind power generation competitive with alternative power generation technologies. Thus, the decrease in LCOE of wind energy is expected to drive market growth during the forecast period.
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Major Five Wind Turbine Rotor Blade Market Companies:
Acciona SA
Acciona SA is headquartered in Spain and operates the business under various segments such as Energy, Infrastructure, and Other businesses. The company offers wind turbine rotor blades of 61.2 meters that can be mounted onto the rotors of 3-MW AW 125/3000 wind turbine generators.
ENERCON GmbH
ENERCON GmbH is headquartered in Germany and offers products through the following business units: Products and Services. The company offers wind turbine rotor blades such as E-103 and E-115.
General Electric Co.
General Electric Co. is headquartered in the US and operates under various business segments, namely Power, Renewable Energy, Aviation, Oil & Gas, Healthcare, Transportation, Lighting, and Capital. The company offers wind power blades of different capacities that ranges from 1.5 MW - 2 MW, 2.5 MW - 3.3 MW, and 5 MW - 6 MW.
Mingyang Smart Energy Group Co. Ltd.
Mingyang Smart Energy Group Co. Ltd. is headquartered in China and offers products through the following business segments: Products and Solutions. The company designs and manufactures wind turbine rotor blades by using carbon fiber/fiberglass blended blade technology.
Siemens Gamesa Renewable Energy SA
Siemens Gamesa Renewable Energy SA is headquartered in Spain and offers products through the following business segments: Wind turbines and Operation and Maintenance. The company offers wind turbine rotor blades using fiberglass, which is reinforced with epoxy.
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Wind Turbine Rotor Blade Market Application Outlook (Revenue, USD Billion, 2020-2024)
- Onshore
- Offshore
Wind Turbine Rotor Blade Market Material Outlook (Revenue, USD Billion, 2020-2024)
- Glass fiber
- Carbon fiber
- Others
Wind Turbine Rotor Blade Market Geographic Segmentation Outlook (Revenue, USD Billion, 2020-2024)
- APAC
- MEA
- North America
- South America
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