According to a market report by Lucintel, the future of the wind turbine blade market looks promising with opportunities in the onshore and offshore market. The global wind turbine blade market is expected to grow with a CAGR of 16% to 18% from 2023 to 2028. The major drivers for this market are increasing demand for clean energy around the world, growing number of offshore and onshore wind energy installations across the world, increasing awareness towards energy security, and economic benefits considering decline in cost of wind generation.
In this market, carbon fiber and glass fiber are the major segments by material. Lucintel forecasts that glass fiber will remain the largest segment over the forecast period due to their superior properties, such as higher chemical resistance, strength, and stiffness, as compared to the carbon fiber material.
Within this market, onshore is expected to remain the largest segment due to declining prices of wind turbine installation as the infrastructure required for onshore wind turbine is less expensive compared to that of offshore wind turbine. Growing demand for renewable energy based power generation in residential and industrial sectors, and growth in onshore wind turbine blade production is established in nations with low labour costs in order to fulfil the global demand of wind turbine blade.
APAC will remain the largest region due to growing demand for renewable energy sources in China, India, and Japan, government incentives and tax benefits for installation of wind turbines is promoting its demand, the surge in demand for lightweight and high-strength materials used in the manufacturing of various sections of wind turbines, and supporting government measures such as favourable regulations and wind power development programs.
LM Wind Power, Vestas, Enercon, Tecsis, Gamesa, Suzlon Group, TPI Composites, Siemens, and CARBON ROTEC are the major suppliers in the global wind turbine blade market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global wind turbine blade market by material, blade size, application, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Wind Turbine Blade Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global wind turbine blade market by material, blade size, application, and region, as follows:
Wind Turbine Blade Market by Material [Value ($B) Shipment Analysis from 2017 to 2028]:
Carbon Fiber
Glass Fiber
Others
Wind Turbine Blade Market by Blade Size [Value ($B) Shipment Analysis from 2017 to 2028]:
Up to 27 Meters
28-37 Meters
38-50 Meters
More Than 50 Meters
Wind Turbine Blade Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Onshore
Offshore
Wind Turbine Blade Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
A more than 150 pages and in-depth TOC on “Global Wind Turbine Blade Market". To download report brochure, please go to
https://www.lucintel.com and click "report brochure" tab from the menu.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the wind turbine blade market by material (carbon fiber and glass fiber), blade size (up to 27 meters, up to 27 meters, 28-37 meters, 38-50 meters, up to 27 meters, and more than 50 meters), application (onshore and offshore), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?