Wind Turbine Rotor Blades Market

Market Snapshot

The wind turbine rotor blades market is expected to reach US$ 45.67 Bn in 2027, growing at a CAGR of 12.64% during the forecast period from 2019 to 2027. The rising threat of climate change and global warming has pushed the energy sector to transition toward renewable sources. U.N.’s Paris climate agreement of 2016 further conveyed the message of a unified global effort to enhance support through financing and technology development. Along with this, pressure from various global NGOs has triggered the renewable energy demand from sources such as wind turbines which have gone upward in recent years.

Moreover, market-based mechanisms such as auctions, tenders, and green certificates followed in Germany, France, Netherlands, Poland, Russia, and Greece were the main drivers for the new installations of wind turbines which in turn helped to grow the market of wind turbine rotor blades. Apart from this, the growing interest of companies in developing bladeless wind turbines, which will be cheaper and more silent than contemporary ones, will restrain the market in the near future. Moreover, other renewable energy sources, such as solar power, and tidal/Ocean-wave energy sources, are expected to impact the market in the coming years.

Onshore Installations Continue to Lead the Segment

New onshore installations of wind turbines reached a capacity of more than 45 G.W. in 2018. The onshore installations segment is driven by China and the U.S., collectively having more than 28 G.W. of onshore capacity installed. Production Tax Credit (PTC) of the U.S. is identified to be the main driver for increasing installations of wind turbines in the U.S. market. The new RPS policy of the U.S. states is expected to further increase the new installations in the coming future. In addition to this, Germany, India, and Brazil have also installed about 2 G.W. of wind capacity in 2018; this has helped the rotor blades market to grow further in 2018. In the global scenario, the onshore segment captures more than 85% of the market share.

Asia Pacific Garnered the Largest Market Share in 2018

The Asia Pacific market growth was led by China in 2018, accounting for over 45% of the regional market revenue. The introduction of the auction policy by China in 2018 has triggered the market upward. This has helped China to install 21.2 GW of wind capacity in a single year. In addition to this, India, Australia, and other Asian countries together installed about 3.7 GW of onshore wind capacity in 2018. In the offshore segment also, Asia Pacific installed about 1.8 GW of wind capacity in 2018. Favorable and stable government policies and the trust of investors in market growth were the main drivers for the market in 2018. Asia Pacific installed more than 50% of global wind turbine capacity in 2018.

Competitive Insights

Major players profiled in the wind turbine rotor blades market include Siemens AG, Suzlon Energy Limited, Vestas Wind Systems A/S, L.M. Wind Power, ACCIONA S.A., Enercon GmbH, Nordex S.E., General Electric Company, Aeris Energy, TPI Composites, Sinoi GmbH, etc. among others. These companies are partnering with other companies and increasing their production and geographical reach by setting up new facilities to gain a larger share of the market.

For instance, in January 2019, TPI Composites, the largest U.S.-based wind blade manufacturer, signed an agreement with Vestas Wind System A/S to provide wind blades in India and other export markets. TPI Composites also announced the new blade manufacturing hub in India. With this partnership and new plant, the company is expected to increase its market share in the region.

Furthermore, in February 2019, Nordex S.E. announced their plan to produce their own rotor blades from their production facility in Mexico. Rotor blades of 1 G.W. capacity will be produced each year from this facility. With this new facility, the company is expected to capture more market share in the North and Latin American regions.

Historical & Forecast Period

The research report presents the analysis of each segment from 2017 to 2027, considering 2018as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The wind turbine rotor blades market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global wind turbine rotor blades market based on material, blade length, installation, and geography. Key segments covered in the report are as follows:

ATTRIBUTE DETAILS

Research Period  2017-2027

The base Year 2018

Forecast Period  2019-2027

Historical Year  2017

Unit  USD Billion

Segmentation Material Segment (2017-2027; US$ Bn)

• Glass Fiber
• Carbon Fiber

Blade Length Segment (2017-2027; US$ Bn)

• Less than 30m
• 30m-60m
• More than 60m

Installation Segment (2017-2027; US$ Bn)

• Onshore
• Offshore

Geography Segment (2017-2027; US$ Bn)

• North America (U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (Japan, China, India, Rest of APAC)
• Rest of the World (Middle East & Africa, Latin America)

Key questions answered in this report

• What was the market size of the wind turbine rotor blades market in 2018, and what is the forecast up to 2027?
• What are the key factors driving the global wind turbine rotor blades market?
• What are the key market trends and high-growth opportunities observed in the wind turbine rotor blades market?
• Which is the largest regional market for wind turbine rotor blades market?
• Which segment will grow at a faster pace? Why?
• Which region will drive the market growth? Why?
• Which players are leading the wind turbine rotor blades market?
• What are the sustainability strategies adopted by the key players operating in the market?

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global WTRB Market
2.2. Global WTRB Market, by Material, 2018 (US$ Bn)
2.3. Global WTRB Market, by Blade Length, 2018 (US$ Bn)
2.4. Global WTRB Market, by Installation, 2018 (US$ Bn)
2.5. Global WTRB Market, by Geography, 2018 (US$ Bn)

3. Market Dynamics
3.1. Introduction
3.1.1. Global WTRB Market Value, 2017 – 2027, (US$ Bn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players

4. Global Wind Turbine Rotor Blades (WTRB) Market, by Material , 2017 – 2027 (US$ Bn)
4.1. Overview
4.2. Glass Fiber
4.3. Carbon Fiber

5. Global Wind Turbine Rotor Blades (WTRB) Market, by Blade Length, 2017 – 2027 (US$ Bn)
5.1. Overview
5.2. Less than30m
5.3. 30m – 60m
5.4. More than 60m

6. Global Wind Turbine Rotor Blades (WTRB) Market, by Installation, 2017 – 2027 (US$ Bn)
6.1. Overview
6.2. Onshore
6.3. Offshore

7. North America Wind Turbine Rotor Blades (WTRB) Market Analysis, 2017 – 2027 (US$ Bn)
7.1. Overview
7.1.1. North America WTRB Market Value and Growth, 2017 – 2027, (US$ Bn)
7.2. North America WTRB Market Value, By Material, 2017 – 2027 (US$ Bn)
7.2.1. Market Analysis
7.3. North America WTRB Market Value, By Blade Length, 2017 – 2027 (US$ Bn)
7.3.1. Market Analysis
7.4. North America WTRB Market Value, By Installation, 2017 – 2027 (US$ Bn)
7.4.1. Market Analysis
7.5. North America WTRB Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
7.5.1. Market Analysis
7.5.2. U.S.
7.5.3. Rest of North America

8. Europe Wind Turbine Rotor Blades (WTRB) Market Analysis, 2017 – 2027 (US$ Bn)
8.1. Overview
8.1.1. Europe WTRB Market Value and Growth, 2017 – 2027, (US$ Bn)
8.2. Europe WTRB Market Value, By Material, 2017 – 2027 (US$ Bn)
8.2.1. Market Analysis
8.3. Europe WTRB Market Value, By Blade Length, 2017 – 2027 (US$ Bn)
8.3.1. Market Analysis
8.4. Europe WTRB Market Value, By Installation, 2017 – 2027 (US$ Bn)
8.4.1. Market Analysis
8.5. Europe WTRB Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
8.5.1. Market Analysis
8.5.2. U.K.
8.5.3. Germany
8.5.4. France
8.5.5. Rest of Europe

9. Asia Pacific Wind Turbine Rotor Blades (WTRB) Market Analysis, 2017 – 2027 (US$ Bn)
9.1. Overview
9.1.1. Asia Pacific WTRB Market Value and Growth, 2017 – 2027, (US$ Bn)
9.2. Asia Pacific WTRB Market Value, By Material, 2017 – 2027 (US$ Bn)
9.2.1. Market Analysis
9.3. Asia Pacific WTRB Market Value, By Blade Length, 2017 – 2027 (US$ Bn)
9.3.1. Market Analysis
9.4. Asia Pacific WTRB Market Value, By Installation, 2017 – 2027 (US$ Bn)
9.4.1. Market Analysis
9.5. Asia Pacific WTRB Market Value, By Region/Country, 2017 – 2027 (US$ Bn)
9.5.1. Market Analysis
9.5.2. Japan
9.5.3. China
9.5.4. India
9.5.5. Rest of Asia Pacific

10. Rest of the World Wind Turbine Rotor Blades (WTRB) Market Analysis, 2017 – 2027 (US$ Bn)
10.1. Overview
10.1.1. Rest of the World WTRB Market Value and Growth, 2017 – 2027, (US$ Bn)
10.2. Rest of the World WTRB Market Value, By Material, 2017 – 2027 (US$ Bn)
10.2.1. Market Analysis
10.3. Rest of the World WTRB Market Value, By Blade Length, 2017 – 2027 (US$ Bn)
10.3.1. Market Analysis
10.4. Rest of the World WTRB Market Value, By Installation, 2017 – 2027 (US$ Bn)
10.4.1. Market Analysis
10.5. Rest of the World WTRB Market Value, By Region, 2017 – 2027 (US$ Bn)
10.5.1. Market Analysis
10.5.2. Middle East & Africa
10.5.3. Latin America

11. Company Profiles
11.1. Siemens AG
11.2. Suzlon Energy Limited
11.3. Vestas Wind Systems A/S
11.4. LM Wind Power
11.5. ACCIONA S.A.
11.6. Enercon GmbH
11.7. Nordex SE
11.8. General Electric Company
11.9. Aeris Energy
11.10. TPI Composites
11.11. Sinoi GmbH

List of Figures

FIG. 1 Global Wind Turbine Rotor Blades (WTRB) Market: Research methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global WTRB Market Segmentation
FIG. 4 Global WTRB Market, by Material, 2018, (US$ Bn)
FIG. 5 Global WTRB Market, by Blade Length, 2018, (US$ Bn)
FIG. 6 Global WTRB Market, by Installation, 2018, (US$ Bn)
FIG. 7 Global WTRB Market, by Geography, 2018 (US$ Bn)
FIG. 8 Global WTRB Market Value, 2017 – 2027, (US$ Bn) and (Y-o-Y %)
FIG. 9 Attractive Investment Proposition, by Geography, 2018
FIG. 10 Global Market Positioning of Key WTRB Providers, 2018
FIG. 11 Global WTRB Market Value Share, by Material, 2018 & 2027 (Value %)
FIG. 12 Global Glass Fiber WTRB Market Value, 2017 – 2027, (US$ Bn)
FIG. 13 Global Carbon Fiber WTRB Market Value, 2017 – 2027, (US$ Bn)
FIG. 14 Global WTRB Market Value Share, by Blade Length, 2018 & 2027 (Value %)
FIG. 15 Global WTRB Market Value for Blade Length Less than 30m, 2017 – 2027, (US$ Bn)
FIG. 16 Global WTRB Market Value for Blade Length 30m to 60m, 2017 – 2027, (US$ Bn)
FIG. 17 Global WTRB Market Value for Blade Length More than 60m, 2017 – 2027, (US$ Bn)
FIG. 18 Global WTRB Market Value Share, by Installation, 2018 & 2027 (Value %)
FIG. 19 Global WTRB Market Value for Onshore Installation, 2017 – 2027, (US$ Bn)
FIG. 20 Global WTRB Market Value for Offshore Installation, 2017 – 2027, (US$ Bn)
FIG. 21 North America WTRB Market Value, 2017 – 2027, (US$ Bn)
FIG. 22 Europe WTRB Market Value, 2017 – 2027, (US$ Bn)
FIG. 23 Asia Pacific WTRB Market Value, 2017 – 2027, (US$ Bn)
FIG. 24 Rest of the World WTRB Market Value, 2017 – 2027, (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Wind Turbine Rotor Blades (WTRB) Market Value
TABLE 2 Impact Indicators
TABLE 3 Impact Analysis of Drivers and Restraints
TABLE 4 Global WTRB Market, by Material, 2017-2027, (US$ Bn)
TABLE 5 Global WTRB Market, by Blade Length, 2017 – 2027, (US$ Bn)
TABLE 6 Global WTRB Market, by Installation, 2017 – 2027, (US$ Bn)
TABLE 7 Global WTRB Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 8 North America WTRB Market, by Material, 2017-2027, (US$ Bn)
TABLE 9 North America WTRB Market, by Blade Length, 2017 – 2027, (US$ Bn)
TABLE 10 North America WTRB Market, by Installation, 2017 – 2027, (US$ Bn)
TABLE 11 North America WTRB Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 12 Europe WTRB Market, by Material, 2017-2027, (US$ Bn)
TABLE 13 Europe WTRB Market, by Blade Length, 2017 – 2027, (US$ Bn)
TABLE 14 Europe WTRB Market, by Installation, 2017 – 2027, (US$ Bn)
TABLE 15 Europe WTRB Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 16 Asia Pacific WTRB Market, by Material, 2017-2027 (US$ Bn)
TABLE 17 Asia Pacific WTRB Market, by Blade Length, 2017 – 2027 (US$ Bn)
TABLE 18 Asia Pacific WTRB Market, by Installation, 2017 – 2027 (US$ Bn)
TABLE 19 Asia Pacific WTRB Market Value, by Region/Country, 2017 – 2027, (US$ Bn)
TABLE 20 Rest of the World WTRB Market, by Material, 2017 – 2027, (US$ Bn)
TABLE 21 Rest of the World WTRB Market, by Blade Length, 2017 – 2027, (US$ Bn)
TABLE 22 Rest of the World WTRB Market, by Installation, 2017 – 2027, (US$ Bn)
TABLE 23 Rest of the World WTRB Market Value, by Region, 2017 – 2027, (US$ Bn)
TABLE 24 Siemens Gamesa Renewable energy.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 25 Suzlon Energy Limited: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 26 Vestas Wind Systems A/S: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 27 LM Wind Power: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 28 ACCIONA S.A.: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 29 Enercon GmbH: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 30 Nordex SE: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 31 General Electric Company: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 32 Aeris Energy: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 33 TPI Composites: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)
TABLE 34 Sinoi GmbH: Company Snapshot (Business Description; Product Portfolio; Financial Information; Business Overview and Recent Development)