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Wind Turbine Blade Market Trends

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

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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.

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.