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Wind Turbine Blade Market Trends

Report ID: GMI6744
Published Date: Dec 2024
Report Format: PDF

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Wind Turbine Blade Market Trends

Technological advancements, such as the adoption of advanced materials like carbon fiber composites and enhancements in aerodynamic design, have facilitated the creation of longer blades. These longer blades not only capture more wind energy but also directly boost a turbine's power output, leading to increased energy production. Modern designs, featuring advanced airfoil shapes and blade twists, optimize aerodynamic performance, ensuring efficient energy capture across varying wind speeds. Additionally, manufacturers focus on minimizing blade weight, which reduces loads on turbine components and foundations, bolstering the overall business landscape.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The global market for wind turbine blade was reached USD 95.3 Billion in 2024 and is estimated to grow at a 6.6% CAGR from 2025 to 2034, driven by increased investments and regulatory support in the power sector.

The carbon fiber segment is projected to exceed USD 142 Billion by 2034, due to its superior strength-to-weight ratio, which leads to lighter and more efficient blade designs.

The offshore segment is anticipated to grow at a CAGR of over 13.5% by 2034, led by the need for larger blades that capture more energy in diverse maritime conditions.

The U.S. wind turbine blade market is expected to surpass USD 6.5 Billion by 2034, fueled by rapid urbanization, industrialization, and favorable project installations.

Key players in the industry include Acciona S.A., Aeris Energy, EnBW, Enercon GmbH, Gamesa Corporacion Technologica, Hitachi Power Solutions, LM Wind Power, MFG Wind, Nordex SE, Siemens AG, Sinoma Wind Power Blade Co. Ltd, Suzlon Energy Ltd., TPI Composites SA, and Vestas Wind Systems.