[Research Report] The wind turbine rotor blade market was valued at US$ 15,935.50 million in 2022 and is projected to reach US$ 32,999.77 million by 2030; it is expected to grow at a CAGR of 9.5% during 2022–2030.
Analyst Perspective:
The global wind turbine rotor blade market is segmented into five regions—Asia Pacific, Europe, North America, the Middle East & Africa, and South America. Global wind energy installations are expected to cross 150 GW in 2027, as per the analysis from the Global Wind Energy Council, at a CAGR of more than 12% from 2022 to 2027. Rising government initiatives and collaboration between government and private bodies are expected to raise the wind power installation capacity in the coming years. For instance, the Global Offshore Wind Alliance (GOWA) was formed by the Government of Denmark, the IRENA, and the Global Wind Energy Council in 2022. GOWA aims to contribute toward achieving an offshore wind capacity of ~380 GW by 2030 and 2,000 GW by 2050. Thus, governments and international associations have completely woken up the possibilities that offshore wind can increase, making offshore wind a globally interesting topic for investment and increasing ambition in developed and developing markets worldwide. This is expected to drive the growth of the wind turbine rotor blade market globally during the forecast period. The wind turbine rotor blade market has been classified into five key regions: North America, Europe, ASIA PACIFIC, the Middle East & Africa, and South America.
Market Overview:
The wind turbine rotor blade market refers to the industry segment focused on the design, manufacturing, distribution, and maintenance of the large, aerodynamic blades that are an integral part of a wind turbine. These rotor blades are essential components of wind turbines, as they obtain the kinetic power from the wind and transform it into mechanical energy that drives the generator, ultimately producing electricity. The wind turbine rotor blade market is closely linked to the broader wind energy sector, and its growth is driven by the expansion of wind power capacity, advancements in blade technology, and the growing requirement for renewable energy sources to address environmental and energy challenges may stimulate the wind turbine rotor blade market growth.
Government policies and international commitments to reduce carbon emissions and combat climate change are driving the requirement for renewable energy sources such as wind power. Various countries have set ambitious renewable energy targets, creating a strong market incentive for wind turbine rotor blades. For instance, in September 2023, the U.S. Department of Energy unveiled the Tribal Nation Technical Assistance Program for Offshore Wind Transmission. This initiative is designed to provide education and training resources, responding directly to input from Tribal communities. The program's overarching goal is to propel the development of equitable and sustainable offshore wind energy in the US, emphasizing domestic manufacturing and effective grid integration. This grid integration includes the use of high-capacity transmission lines, which can boost the demand for wind turbine rotor blade market.
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Wind Turbine Rotor Blade Market: Strategic Insights
Market Size Value in US$ 15,935.50 million in 2022 Market Size Value by US$ 32,999.77 million by 2030 Growth rate CAGR of 9.5% from 2022 to 2030 Forecast Period 2022-2030 Base Year 2022
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Wind Turbine Rotor Blade Market: Strategic Insights
| Market Size Value in | US$ 15,935.50 million in 2022 |
| Market Size Value by | US$ 32,999.77 million by 2030 |
| Growth rate | CAGR of 9.5% from 2022 to 2030 |
| Forecast Period | 2022-2030 |
| Base Year | 2022 |
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Market Driver:
Increased Energy Consumption and Trends of Clean Energy is Boosting the Wind Turbine Rotor Blade Market Growth
Global energy demand is increasing every day, resulting in an energy crisis and contamination of the environment due to carbon emissions. Energy derived from fossil fuels is unsustainable due to limited supply, depleting supply, and the environmental impact. As a result, the trends of sustainable and clean energy production increased in the last few years. Many developed countries, such as the US, Germany, and China, took initiatives to solve the energy crisis issues, resulting in the development of the wind turbine industry. As per the government data, in 2022, renewable energy sources amounted to 0.9 trillion kWh, which roughly accounted for 21% of the total US electricity generation. In the total renewable electricity generation, the wind energy segment witnessed a share of 10.3%. As per the data published by China's National Energy Administration (NEA) in 2022, solar and wind power production witnessed a 21% hike from the previous year. In addition, as per the International Renewable Energy Agency (IREA), Wind energy has developed rapidly since 2000, owing to R&D and reduction in developmental costs. Such factors have positively affected the development and installation of wind power. For instance, onshore wind capacity increased from 178 GW in 2010 to 699 GW in 2020, whereas offshore wind capacity increased from 3.1 GW in 2010 to 34.4 GW in 2020. Thus, with increased demand for electricity owing to growing population, urbanization, industrialization, and increased preferences for clean energy, the demand for onshore and offshore wind energy projects increased, ultimately driving the wind turbine rotor blade market.
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Segmental Analysis:
Blades are the most vital wind turbine component. Innovation in materials and development in the manufacturing process has positively affected the 41–60 m and 61–70 m types of blades. The rotor blades above 70 m in length accounted for the highest share in wind turbine rotor blade market due to growing demand for the higher MW projects. MingYang Smart Energy holds the record for the biggest wind turbine in the world. In August 2022, Ørsted A/S announced the completion of its largest installed wind farm, Hornsea 2. This farm has a production capacity of 1.3 GW and comprises 165 wind turbines. On the other hand, the demand for below 40 m is mainly driven by government investments in small wind turbine projects, which may drive the wind turbine rotor blade market growth.
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Regional Analysis:
North America constitutes major economies such as the US, Canada, and Mexico. The wind turbine rotor blade market in North America is expected to register remarkable growth owing to stringent government regulations, favorable policies, increasing investment in wind power projects, and reduced cost of wind energy. In North America, the growing consumer awareness toward sustainability goals and the role of renewable energy and wind energy are expected to increase wind power installations in the region. North America accounted for 12% of total wind power installations in 2022, with the US accounting for more than 85% of new capacity additions in the region.
Wind energy in the US has recorded substantial growth in the last five years, which represents the largest source of new additions to the US electricity-generating capacity. Wind power provides 10% of electricity in 16 states and over 30% in Iowa, Kansas, Oklahoma, South Dakota, and North Dakota. The performance of wind energy technologies, coupled with the production tax credit and lower cost of power generation, accelerated the addition of wind energy capacity. Thus, a rise in investment toward building wind power projects in North America is expected to drive the growth of the wind turbine rotor blade market from 2022 to 2030.
Key Player Analysis:
TPI Composites SA, Vestas Wind Systems A/S, Enercon GmbH, LM Wind Power, Siemens Gamesa Renewable Energy SA, Acciona SA, Suzlon Energy Ltd, Nordex SE, Envision Group, and Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd are among the key wind turbine rotor blade market players operating in the wind turbine rotor blade market.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the wind turbine rotor blade market. A few recent developments by key the wind turbine rotor blade market players are listed below:
Year | News | Region |
Nov-2022 | Vestas signed a multi-year framework agreement with long-time partner TPI Composites Inc. (TPI), a leading supplier of wind turbine blades and services, to strengthen its scalable global supply chain network for current and future wind turbine blades. | North America |
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Deployment Type, and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The rise in demand for renewable energy and its advantages in protecting the environment are expected to promote wind energy projects globally. Governments of various countries are supporting the construction of wind energy projects in terms of policies and investments.
According to the Global Wind Energy Council (GWEC), as of 2022, a total of 906 GW of wind capacity has been installed globally, of which 93% is onshore and 7% offshore. It is expected that the wind energy markets will grow fourfold in the coming 20 years, further raising the demand for advanced wind turbine components. The growing demand for wind energy will require advanced turbine components such as rotor blades, nacelle, gearbox, rotor blade, tower, and pitch systems.
The Asia Pacific wind turbine rotor blade market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Asia Pacific is one of the leading regions in the wind turbine rotor blade market owing to favorable government policies, a rise in investment in wind energy projects, and reduced cost of wind energy. Countries such as India, China, and Japan are the dominating countries holding a large portion of the market share, which is further expected to increase during the forecast period.
TPI Composites SA, Vestas Wind Systems A/S., Enercon GmbH, LM Wind Power, Siemens Gamesa Renewable Energy, S.A., Acciona SA, Suzlon Energy Ltd., Nordex SE, Envision Group, Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd are the key market players operating in the global wind turbine rotor blade market.
Asia Pacific is one of the major regions in the wind turbine rotor blade market owing to favorable government mandates and policies, growing investment in wind energy projects, and lowered cost of wind energy. China, India, Australia, South Korea, and Japan are some of the major markets in Asia Pacific for wind turbine rotor blade. China, India, and Japan are the dominating countries holding a large share of the market, which is further estimated to increase during the forecast period.
1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Wind Turbine Rotor Blade Market Landscape
4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
4.3.1 List of Wind Turbine Rotor Blade Suppliers
5. Wind Turbine Rotor Blade Market - Key Industry Dynamics
5.1 Wind Turbine Rotor Blade Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increased Energy Consumption and Trends of Clean Energy
5.2.2 Government Initiatives to Boost Green Energy Production
5.2.3 Innovations in Wind Turbine Blade Designs
5.3 Market Restraints
5.3.1 High Cost of Wind Turbine Installation and Maintenance
5.4 Market Opportunities
5.4.1 Growing Investments in Offshore Wind Projects
5.5 Future Trends
5.5.1 Increasing Adoption of Recycling Technology
5.6 Impact of Drivers and Restraints:
6. Wind Turbine Rotor Blade Market - Global Market Analysis
6.1 Wind Turbine Rotor Blade Market Revenue (US$ Million), 2022 – 2030
6.2 Wind Turbine Rotor Blade Market Forecast and Analysis
7. Wind Turbine Rotor Blade Market Analysis –Type
7.1 Wind Turbine Rotor Blade Market, By Type (2022 and 2030)
7.2 Below 40m
7.2.1 Overview
7.2.2 Below 40m Market, Revenue and Forecast to 2030 (US$ Million)
7.3-60m
7.3.1 Overview
7.3.2-60m Market, Revenue and Forecast to 2030 (US$ Million)
7.4-70m
7.4.1 Overview
7.4.2-70m Market, Revenue and Forecast to 2030 (US$ Million)
7.5 Above 70m
7.5.1 Overview
7.5.2 Above 70m Market, Revenue and Forecast to 2030 (US$ Million)
8. Wind Turbine Rotor Blade Market Analysis – Deployment Type
8.1 Wind Turbine Rotor Blade Market, By Deployment Type (2022 and 2030)
8.2 Onshore
8.2.1 Overview
8.2.2 Onshore Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Offshore
8.3.1 Overview
8.3.2 Offshore Market, Revenue and Forecast to 2030 (US$ Million)
9. Wind Turbine Rotor Blade Market - Geographical Analysis
9.1 Overview
9.2 North America
9.2.1 North America Wind Turbine Rotor Blade Market Overview
9.2.2 North America Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.3 North America Wind Turbine Rotor Blade Market Breakdown by Type
9.2.3.1 North America Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Type
9.2.4 North America Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.2.4.1 North America Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Deployment Type
9.2.5 North America Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Country
9.2.5.1 US Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.5.1.1 US Wind Turbine Rotor Blade Market Breakdown by Type
9.2.5.1.2 US Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.2.5.2 Canada Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.5.2.1 Canada Wind Turbine Rotor Blade Market Breakdown by Type
9.2.5.2.2 Canada Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.2.5.3 Mexico Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.2.5.3.1 Mexico Wind Turbine Rotor Blade Market Breakdown by Type
9.2.5.3.2 Mexico Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.3 Europe
9.3.1 Europe Wind Turbine Rotor Blade Market Overview
9.3.2 Europe Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.3 Europe Wind Turbine Rotor Blade Market Breakdown by Type
9.3.3.1 Europe Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Type
9.3.4 Europe Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.3.4.1 Europe Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Deployment Type
9.3.5 Europe Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Country
9.3.5.1 Germany Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.1.1 Germany Wind Turbine Rotor Blade Market Breakdown by Type
9.3.5.1.2 Germany Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.3.5.2 France Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.2.1 France Wind Turbine Rotor Blade Market Breakdown by Type
9.3.5.2.2 France Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.3.5.3 Italy Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.3.1 Italy Wind Turbine Rotor Blade Market Breakdown by Type
9.3.5.3.2 Italy Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.3.5.4 UK Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.4.1 UK Wind Turbine Rotor Blade Market Breakdown by Type
9.3.5.4.2 UK Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.3.5.5 Russia Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.5.1 Russia Wind Turbine Rotor Blade Market Breakdown by Type
9.3.5.5.2 Russia Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.3.5.6 Rest of Europe Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.3.5.6.1 Rest of Europe Wind Turbine Rotor Blade Market Breakdown by Type
9.3.5.6.2 Rest of Europe Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.4 Asia Pacific
9.4.1 Asia Pacific Wind Turbine Rotor Blade Market Overview
9.4.2 Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.3 Asia Pacific Wind Turbine Rotor Blade Market Breakdown by Type
9.4.3.1 Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Type
9.4.4 Asia Pacific Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.4.4.1 Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Deployment Type
9.4.5 Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Country
9.4.5.1 Australia Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.1.1 Australia Wind Turbine Rotor Blade Market Breakdown by Type
9.4.5.1.2 Australia Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.4.5.2 China Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.2.1 China Wind Turbine Rotor Blade Market Breakdown by Type
9.4.5.2.2 China Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.4.5.3 India Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.3.1 India Wind Turbine Rotor Blade Market Breakdown by Type
9.4.5.3.2 India Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.4.5.4 Japan Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.4.1 Japan Wind Turbine Rotor Blade Market Breakdown by Type
9.4.5.4.2 Japan Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.4.5.5 South Korea Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.5.1 South Korea Wind Turbine Rotor Blade Market Breakdown by Type
9.4.5.5.2 South Korea Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.4.5.6 Rest of Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.4.5.6.1 Rest of Asia Pacific Wind Turbine Rotor Blade Market Breakdown by Type
9.4.5.6.2 Rest of Asia Pacific Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.5 Middle East and Africa
9.5.1 Middle East and Africa Wind Turbine Rotor Blade Market Overview
9.5.2 Middle East and Africa Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.5.3 Middle East and Africa Wind Turbine Rotor Blade Market Breakdown by Type
9.5.3.1 Middle East and Africa Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Type
9.5.4 Middle East and Africa Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.5.4.1 Middle East and Africa Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Deployment Type
9.5.5 Middle East and Africa Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Country
9.5.5.1 South Africa Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.5.5.1.1 South Africa Wind Turbine Rotor Blade Market Breakdown by Type
9.5.5.1.2 South Africa Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.5.5.2 Saudi Arabia Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.5.5.2.1 Saudi Arabia Wind Turbine Rotor Blade Market Breakdown by Type
9.5.5.2.2 Saudi Arabia Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.5.5.3 Egypt Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.5.5.3.1 Egypt Wind Turbine Rotor Blade Market Breakdown by Type
9.5.5.3.2 Egypt Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.5.5.4 Rest of MEA Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.5.5.4.1 Rest of MEA Wind Turbine Rotor Blade Market Breakdown by Type
9.5.5.4.2 Rest of MEA Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.6 South America
9.6.1 South America Wind Turbine Rotor Blade Market Overview
9.6.2 South America Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.6.3 South America Wind Turbine Rotor Blade Market Breakdown by Type
9.6.3.1 South America Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Type
9.6.4 South America Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.6.4.1 South America Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Deployment Type
9.6.5 South America Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Country
9.6.5.1 Brazil Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.6.5.1.1 Brazil Wind Turbine Rotor Blade Market Breakdown by Type
9.6.5.1.2 Brazil Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.6.5.2 Argentina Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.6.5.2.1 Argentina Wind Turbine Rotor Blade Market Breakdown by Type
9.6.5.2.2 Argentina Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.6.5.3 Rest of SAM Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.6.5.3.1 Rest of SAM Wind Turbine Rotor Blade Market Breakdown by Type
9.6.5.3.2 Rest of SAM Wind Turbine Rotor Blade Market Breakdown by Deployment Type
10. Wind Turbine Rotor Blade Market – Impact of COVID-19 Pandemic
10.1 Pre & Post Covid-19 Impact
11. Competitive Landscape
11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 Product Development
12.4 Mergers & Acquisitions
13. Company Profiles
13.1 TPI Composites Inc
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Vestas Wind Systems AS
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 ENERCON GmbH
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 LM Wind Power AS
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Siemens Gamesa Renewable Energy SA
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Acciona SA
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Suzlon Energy Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Nordex SE
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 Envision Energy USA Ltd
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Lianyungang Zhongfu Lianzhong Composites Group Co Ltd
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
List of Tables
Table 1. Wind Turbine Rotor Blade Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Million)
Table 4. Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Million) – Type
Table 5. Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Million) – Deployment Type
Table 6. North America Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 7. North America Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 8. US Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 9. US Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 10. Canada Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 11. Canada Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 12. Mexico Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 13. Mexico Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 14. Europe Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 15. Europe Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 16. Germany Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 17. Germany Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 18. France Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 19. France Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 20. Italy Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 21. Italy Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 22. UK Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 23. UK Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 24. Russia Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 25. Russia Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 26. Rest of Europe Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 27. Rest of Europe Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 28. Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 29. Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 30. Australia Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 31. Australia Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 32. China Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 33. China Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 34. India Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 35. India Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 36. Japan Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 37. Japan Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 38. South Korea Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 39. South Korea Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 40. Rest of Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 41. Rest of Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 42. Middle East and Africa Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 43. Middle East and Africa Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 44. South Africa Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 45. South Africa Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 46. Saudi Arabia Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 47. Saudi Arabia Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 48. Egypt Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 49. Egypt Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 50. Rest of MEA Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 51. Rest of MEA Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 52. South America Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 53. South America Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 54. Brazil Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 55. Brazil Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 56. Argentina Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 57. Argentina Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
Table 58. Rest of SAM Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Type
Table 59. Rest of SAM Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn) – By Deployment Type
List of Figures
Figure 1. Wind Turbine Rotor Blade Market Segmentation, By Geography
Figure 2. PEST Analysis
Figure 3. Ecosystem: Wind Turbine Rotor Blade Market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Wind Turbine Rotor Blade Market Breakdown by Geography, 2022 and 2030 (%)
Figure 6. Wind Turbine Rotor Blade Market Revenue (US$ Million), 2022 – 2030
Figure 7. Wind Turbine Rotor Blade Market Share (%) – Type, 2022 and 2030
Figure 8. Below 40m Market Revenue and Forecasts To 2030 (US$ Million)
Figure 9.-60m Market Revenue and Forecasts To 2030 (US$ Million)
Figure 10.-70m Market Revenue and Forecasts To 2030 (US$ Million)
Figure 11. Above 70m Market Revenue and Forecasts To 2030 (US$ Million)
Figure 12. Wind Turbine Rotor Blade Market Share (%) – Deployment Type, 2022 and 2030
Figure 13. Onshore Market Revenue and Forecasts To 2030 (US$ Million)
Figure 14. Offshore Market Revenue and Forecasts To 2030 (US$ Million)
Figure 15. Wind Turbine Rotor Blade Market Breakdown by Region, 2022 and 2030 (%)
Figure 16. North America Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 17. North America Wind Turbine Rotor Blade Market Breakdown by Type (2022 and 2030)
Figure 18. North America Wind Turbine Rotor Blade Market Breakdown by Deployment Type (2022 and 2030)
Figure 19. North America Wind Turbine Rotor Blade Market Breakdown by Country (2022 and 2030)
Figure 20. US Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 21. Canada Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 22. Mexico Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 23. Europe Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 24. Europe Wind Turbine Rotor Blade Market Breakdown by Type (2022 and 2030)
Figure 25. Europe Wind Turbine Rotor Blade Market Breakdown by Deployment Type (2022 and 2030)
Figure 26. Europe Wind Turbine Rotor Blade Market Breakdown by Country (2022 and 2030)
Figure 27. Germany Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 28. France Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 29. Italy Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 30. UK Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 31. Russia Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 32. Rest of Europe Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 33. Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 34. Asia Pacific Wind Turbine Rotor Blade Market Breakdown by Type (2022 and 2030)
Figure 35. Asia Pacific Wind Turbine Rotor Blade Market Breakdown by Deployment Type (2022 and 2030)
Figure 36. Asia Pacific Wind Turbine Rotor Blade Market Breakdown by Country (2022 and 2030)
Figure 37. Australia Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 38. China Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 39. India Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 40. Japan Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 41. South Korea Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 42. Rest of Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 43. Middle East and Africa Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 44. Middle East and Africa Wind Turbine Rotor Blade Market Breakdown by Type (2022 and 2030)
Figure 45. Middle East and Africa Wind Turbine Rotor Blade Market Breakdown by Deployment Type (2022 and 2030)
Figure 46. Middle East and Africa Wind Turbine Rotor Blade Market Breakdown by Country (2022 and 2030)
Figure 47. South Africa Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 48. Saudi Arabia Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 49. Egypt Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 50. Rest of MEA Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 51. South America Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 52. South America Wind Turbine Rotor Blade Market Breakdown by Type (2022 and 2030)
Figure 53. South America Wind Turbine Rotor Blade Market Breakdown by Deployment Type (2022 and 2030)
Figure 54. South America Wind Turbine Rotor Blade Market Breakdown by Country (2022 and 2030)
Figure 55. Brazil Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 56. Argentina Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 57. Rest of SAM Wind Turbine Rotor Blade Market Revenue and Forecasts To 2030 (US$ Mn)
Figure 58. Heat Map Analysis by Key Players
Figure 59. Company Positioning & Concentration
The List of Companies - Wind Turbine Rotor Blade Market
- TPI Composites SA
- Vestas Wind Systems A/S.
- Enercon GmbH
- LM Wind Power
- Siemens Gamesa Renewable Energy, S.A.
- Acciona SA
- Suzlon Energy Ltd.
- Nordex SE
- Envision Group
- Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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