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Offshore Wind Turbine Blade Market Share

Report ID: GMI12018
Published Date: Oct 2024
Report Format: PDF

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Offshore Wind Turbine Blade Market Share

The competitive landscape in the offshore wind turbine blade industry is characterized by a mix of vertically integrated turbine companies that produce their own blades and specialized blade manufacturers. Shifting focus of key players on innovation, scalability, and regional manufacturing capabilities to reduce costs and improve blade performance will strengthen the industry landscape. Many manufacturers are setting up regional blade factories near major offshore markets to minimize transportation costs and align with local regulations and policies. Further, newer and smaller companies are emerging in niche areas such as blade recycling and alternative materials, which could impact the market growth.

Offshore Wind Turbine Blade Market Companies

Eminent players operating in the offshore wind turbine blade industry are:

Doosan Heavy Industries & Construction
Envision Energy
GE Renewable Energy
Goldwind
Hitachi Energy
MingYang Smart Energy
Nordex SE
Senvion
Shanghai Electric Wind Power
Suzlon Energy
Vestas Wind Systems

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The global market for offshore wind turbine blade was reached USD 10.7 billion in 2023 and is estimated to grow at a 13.3% CAGR from 2024 to 2032, driven by global offshore wind capacity expansion and technological advancements.

The > 90 m segment is anticipated to surpass USD 36.5 million by 2032, propelled by the demand for larger turbines and ongoing advancements in blade designs and materials.

The > 5 MW segment is set to grow at a CAGR of over 11.5% through 2032, supported by significant demand for high-capacity systems, technological advances, and economies of scale.

The Asia Pacific market for offshore wind turbine blade is likely to exceed USD 35.5 billion by 2032, led by regional investments in renewable energy, advancements in turbine technology, and supportive government policies.

Key players in the industry include Doosan Heavy Industries & Construction, Envision Energy, GE Renewable Energy, Goldwind, Hitachi Energy, MingYang Smart Energy, Nordex SE, Senvion, Shanghai Electric Wind Power, Suzlon Energy, and Vestas Wind Systems.