Wind Turbine Rotor Blade Market Size, Share, Growth, Analysis Report 2034

 The size of the global wind turbine rotor blade market is estimated to be US$ 24,212.2 million in 2024. Demand for wind turbine rotor blades is predicted to grow at a CAGR of 8.2%, and reach a size of a US$ 53,248.4 million during the period 2024-2034.

The market is gradually growing, led by rising installations of wind energy capacity globally. The growth rates were different across regions, with considerable developments in Europe, Asia-Pacific, and North America.

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Which are the Key Drivers of Global Demand for Wind Turbine Rotor Blade?

Rising Investments in Wind Power Fuel the Growth of the Market

Increased investment promotes the development of wind power infrastructure, such as wind farms and related technologies, driving demand for key components such as rotor blades.

Increasing investment in wind energy fuels competition between manufacturers, causing quality, design, and prices of rotor blades to improve. Such competition motivates additional investments to remain leaders in technological progress.

Rising fears of climate change and global transition towards clean sources of energy further motivate investments in wind energy. This shift supports sustainable development goals, where more investment is encouraged in wind energy projects.

Country-wise Insights

The North America wind turbine rotor blade market is expected to witness outstanding growth with a CAGR of 7.7% during the forecast period of 2024 to 2034. The increasing demand is being driven by major countries, such as United States and Canada is leading the market growth. During 2024, the United States holds the largest share in the wind turbine rotor blade market at an estimated 56.5%.

The United States is predicted to capture 54.2% of the North American market share by the close of 2034. Market growth opportunities result from the high investments in wind energy projects, which have seen substantial growth in installed wind capacity.

China is also projected to have a 49.5% market revenue share in the East Asian market by 2034. Supportive government policies and initiatives supporting renewable energy, such as wind energy, have been instrumental in fuelling rotor blade market growth. China has made aggressive renewable energy goals and offered incentives and subsidies in favor of wind energy growth.

Category-wise Insights

Depending on the material of the blade, the glass fiber segment is projected to have a 86.4% market share in 2024. At the same time, the composite carbon segment is expected to achieve a 13.6% share, playing a major role in the growth of the market. Depending on application, the onshore segment makes its leadership in the wind turbine rotor blade market with a share of 80.1% in 2024.

Competitive Landscape

Key players in the worldwide wind turbine rotor blade market are expected to grab a major market share in the near future. Their strategy will be geared towards increasing research and development activities to improve product quality, as well as in synchronizing with changing customer requirements and increasing their base of customers.

These business leaders are expected to create special research and development hubs in various geographic areas. These hubs would be specifically designed to spearhead innovations, with the objective of providing better products that match or surpass industry standards.

In August 2022, LZ Blades marked a milestone by manufacturing a 123-meter-long wind turbine blade that has the capacity to generate 16MW of power. This is the fourth instance in a span of a year that LZ Blades has manufactured blades over 100 meters in length successfully.
In May 2023 - Bridgepoint has completed an acquisition deal to buy Windar, which is equally owned by Grupo Daniel Alonso (68%) and Siemens Gamesa (32%).

Read More: https://www.factmr.com/report/wind-turbine-rotor-blade-market 

Wind Turbine Rotor Blade Market - Key Segments

  • By Blade Material:
    • Glass Fiber
    • Carbon Composite
  • By Application:
    • Onshore
    • Offshore
  • By Region:
    • North America
    • Latin America
    • Western Europe
    • Eastern Europe
    • South Asia and Pacific
    • East Asia
    • Middle East and Africa

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