Home > Energy & Power > Electrical Equipment > Turbines > Wind Turbine Blade Market

Wind Turbine Blade Market Size

Report ID: GMI6744
Published Date: Sep 2023
Report Format: PDF

Download Free Sample

Wind Turbine Blade Market Size

Wind Turbine Blade Market size was valued at more than USD 58 billion in 2022 and is expected to grow at staggering CAGR of 7.2% from 2023 to 2032.

To get key market trends

Download Free Sample

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.

Wind Turbine Blade Market Report Attributes
Report Attribute	Details
Base Year:	2023
Wind Turbine Blade Market Size in 2023:	USD 88.47 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	6.9%
2032 Value Projection:	USD 165.8 Billion
Historical Data for:	2019 to 2021
No. of Pages:	400
Tables, Charts & Figures:	484
Segments covered:	Material, Application, Capacity and Size
Growth Drivers:	Enhanced regulatory support and influx of investments across the power sector Ongoing research and development activities Transition toward renewable energy
Pitfalls & Challenges:	High initial capital cost

Learn more about the key segments shaping this market

Download Free Sample

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The market size of wind turbine blade was crossed USD 88.47 billion in 2023 and will surpass USD 165.8 billion by 2032, due to the shifting focus towards wind energy sources along with rising requirement for reliable and efficient energy worldwide.

The carbon fiber material segment will surpass USD 129.5 billion by 2032 on account of its enhanced strength-to-weight ratio, that offers better strength and light weight blade designs.

Asia Pacific market for wind turbine blade will register over 6% CAGR from 2023 to 2032, owing to the rapid urbanization & industrialization along with favorable policies & regulations across developing economies in the region.

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, and Aeris Energy are some of the major wind turbine blade companies worldwide.