Wind Turbine Blade Market Size - By Material (Carbon Fiber, Glass Fiber), By Application (Offshore, Onshore), By Capacity (<3 MW, 3-5 MW, >5 MW), By Size (≤ 30 m, 31- 60 m, 61-90 m, ≥ 90 m), Regional Outlook & Global Forecast, 2024 – 2032

Wind Turbine Blade Market Size

Wind Turbine Blade Market size was valued at more than USD 88.47 billion in 2023 and is expected to grow at staggering CAGR of 6.9% from 2024 to 2032.
 

A wind turbine blade is a large, aerodynamic component of a wind turbine that captures the kinetic energy from the wind and converts it into mechanical energy, which is then used to generate electricity. These are designed to harness the power of the wind and are a critical part of a wind turbine's overall performance. Further, the blades come in various lengths and sizes, depending on the turbine's capacity and design. Shifting focus toward wind energy sources along with rising requirement for reliable and efficient energy will affect the installation of upcoming wind projects, thereby augmenting the business landscape.

COVID- 19 Impact

The COVID- 19 pandemic has had a minor impact on the wind turbine blade market owing to a slowdown in the production activities, delays in various project installations, along with a lack of investment from both public and private sectors. However, ongoing advancement of offshore wind energy projects specifically across the European region will stimulate the market growth. In addition, favorable government funding for the development of offshore wind infrastructure coupled with large scale innovations across the wind blade design will influence the product adoption.
 

Wind Turbine Blade Market Trends

Rising trend towards manufacturing of large wind turbine blades, to capture more wind energy, increase the energy output and efficiency will drive the business scenario. Increasing demand to harness wind energy across the low speed wind regions and offshore locations will augment the industry landscape. Furthermore, development of advanced materials such as carbon fiber composites and hybrid materials to enhance the performance and durability of wind turbine blades on account of them being lighter, stronger, and more durable in comparison to the traditional materials including fiberglass.
 

Wind Turbine Blade Market Analysis

Carbon fiber wind turbine blade market size will cross USD 129.5 billion by 2032, owing to the enhanced strength-to-weight ratio offers better strength and light weight blade designs, resulting in improved efficiency and reduced structural load on the turbine components, thereby positively encouraging the market dynamics. It is stiffer in comparison to fiberglass, thereby supporting the aerodynamic shape of the wind turbine blade more effectively, allowing better control of blade deflection and deformation under varying wind loads. Additionally, lighter blades require less structural support from the rest of the wind turbine, including both the tower and nacelle, thereby resulting in cost savings on materials and transportation, especially for the larger turbine blades used in offshore installations.
 

Offshore wind turbine blade market is set to observe 12.5% growth rate up to 2032. Varying operational conditions of the offshore wind farms require larger wind blades, thereby capturing more energy in comparison to their counterparts. Different aerodynamic designs and shapes optimized for the specific wind conditions at sea along with consideration of various effects comprising higher wind speeds, potential icing conditions and saltwater exposure will accelerate the product penetration. In addition, the design is made to withstand the dynamic loads caused by waves and turbulent marine winds, making them heavier and more robust to handle the environmental stresses.
 

The wind turbine blade market from ≤ 30 m blade market will attain more than 5% CAGR through 2032, owing to enhanced usage across Smaller onshore turbines for residential or small-scale commercial use. Technological advancements, including the use of advanced materials (e.g., carbon fiber composites) and aerodynamic design improvements, have allowed for longer blades that capture more wind energy, thereby improving on the blade length. Additionally, the blade length is directly related to a turbine's power output, thereby allowing it to capture more wind energy, resulting in higher power production.
 

3 - 5 MW wind turbine blade market will reach USD 23.3 billion by 2032, on account of growing requirement for larger wind turbines. These larger blades are designed with larger rotor diameters to capture more wind energy and generate higher power output. Modern and advanced designs to optimize the aerodynamic performance, advanced airfoil shapes, blade twist, along with other design features ensure efficient energy capture across a range of wind speeds. Moreover, considering the size, manufacturing efforts to keep the weight of these blades as low as possible supports minimize the loads on the turbine's components and foundations, thereby strengthening the business landscape.
 

North America wind energy market is poised to register gains at over 5.5% from 2023 to 2032. Substantial increase in the energy demand owing to rapid urbanization & industrialization along with favorable project installations across the U.S. will augment the wind turbine blade market landscape. Moreover, advancements in wind turbine technology on account of steady increase in the number of onshore and offshore projects, will substantially complement the industry growth.
 

Wind Turbine Blade Market Share

Some of the major players operating in the wind turbine blade industry include:

• Siemens AG
• Acciona S.A
• Vestas Wind Systems
• Gamesa Corporacion Technologica
• EnBW
• TPI Composites SA
• LM Wind Power
• Nordex SE
• Sinoma wind power blade Co. Ltd
• MFG Wind
• Aeris Energy
• Suzlon Energy Ltd
• Enercon GmbH
• Hitachi Power Solutions
   

Wind Turbine Blade Market News

• In April 2022, Hitachi Power Solutions, combined the AI & other digital technologies along with drones to mitigate the risks of wind power facilities. The “Blade Total Service” follows the service guidelines ensuring greater security and safety at the wind power facilities while inspecting the blades for repair. It further integrates the inspection process using digital technology along with repair work and maintenance planning. Key advantages including lesser inspection time, higher work efficiency coupled with increased inspection accuracy.
   
• In March 2022, ZEBRA (Zero wastE Blade ReseArch) consortium, introduced its first prototype of its recyclable wind turbine blade. The largest thermoplastic blade is manufactured at the LM Wind Power plant utilizing Owens Corning new high performance glass materials along with Arkema’s Elium resin. The manufacturing process involves the usage of automation to reduce production waste and energy consumption. Further, the full scale structural lifetime testing will begin in the following weeks along with the recycling methods scheduled for the end quarter of 2022.
   

This Wind turbine blade market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘USD Million’ from 2023 to 2032, for the following segments:

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By Material

• Carbon fiber
• Glass fiber

By Application

• Onshore
• Offshore

By Capacity

• < 3 MW
• 3 – 5 MW
• > 5 MW

By Size

• ≤ 30 m
• 31 – 60 m
• 61 – 90 m
• ≥ 90 m

The above information has been provided for the following regions and countries:

• North America
  • U.S
  • Canada
• Europe
  • UK
  • Ireland
  • Germany
  • Denmark
  • France
  • Netherlands
  • Belgium
• Asia Pacific
  • China
  • Japan
  • South Korea
  • Vietnam
  • Taiwan
• Middle East & Africa
  • South Africa
  • Egypt
• Latin America
  • Brazil
  • Chile
  • Argentina