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Onshore Wind Turbine Blade Market Size

Report ID: GMI11742
Published Date: Oct 2024
Report Format: PDF

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Onshore Wind Turbine Blade Market Size

The global onshore wind turbine blade market was valued at USD 73.2 billion in 2023 and is estimated to register at a CAGR of 5.7% between 2024 and 2032. A wind turbine blade for the onshore industry is a key component of a wind turbine that converts wind energy into mechanical energy. These blades are typically long, aerodynamic structures designed to capture wind and convert its kinetic energy into rotational energy, which is then transformed into electricity by the turbine's generator.

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Industry's commitment to sustainability is leading to the development of eco-friendly blade materials and recycling initiatives, addressing concerns about end-of-life disposal. growing interest in smaller-scale projects, including community and distributed wind systems, which are also adopting advanced blade technologies will strengthen the product demand. Moreover, emerging markets in Asia, Africa, and South America are witnessing significant growth in wind energy adoption, driven by increasing energy demands and investments in renewable technologies, augmenting the industry landscape.

Onshore Wind Turbine Blade Market Report Attributes
Report Attribute	Details
Base Year:	2023
Onshore Wind Turbine Blade Market Size in 2023:	USD 73.2 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	5.7%
2032 Value Projection:	USD 120.3 Billion
Historical Data for:	2021 to 2023
No. of Pages:	100
Tables, Charts & Figures:	20
Segments covered:	Size, Capacity, Material and Region
Growth Drivers:	Enhanced regulatory support and influx of investments across the power sector Ongoing research and development activities
Pitfalls & Challenges:	High initial capital cost

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The adoption trends for the onshore wind turbine blade industry reflect a dynamic shift driven by technological advancements, market demands, and regulatory frameworks. Advancements in materials and aerodynamic designs are enhancing blade performance, reducing weight, and improving durability. The cost of manufacturing and installing turbine blades is decreasing as production processes improve, which will bolster the business landscape.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The global market for onshore wind turbine blade was reached USD 73.2 billion in 2023 and is projected to reach USD 120.3 billion by 2032, propelled by enhanced regulatory support and influx of investments across the power sector.

The 31-60m onshore wind turbine blade market is expected to exceed USD 21.5 billion by 2032, due to the rising usages of lightweight materials and optimized aerodynamics that improve energy generation and reduce costs.

The >5 MW onshore wind turbine blade market is projected to grow at over 4% CAGR through 2032, driven by their higher energy yields and better economies of scale.

The Asia Pacific onshore wind turbine blade market is expected to reach USD 95 billion by 2032, attributed to the innovations in blade design, materials, and manufacturing processes that enhance efficiency and cost-effectiveness.