According to Persistence Market Research (PMR), global wind energy installations have increased from 282.2 GW in 2012 to 486.7 GW in 2016. This is positively impacting the growth of the global wind turbine rotor blade market.
The global wind turbine rotor blade market is expected to surpass US$ 7 Bn in revenues by 2017-end. The market is anticipated to grow at a CAGR of 21.2% during the period 2017-2025 and reach nearly US$ 33 Bn in revenues.
The key opportunities identified by Persistence Market Research include offshore wind system installations and development of carbon composite wind turbine rotor blades.
By blade material, the global wind turbine rotor blade market has been segmented into glass fiber and carbon composite. Currently, glass fibers outsell carbon composites, and the trend is expected to remain so during the forecast period. According to Persistence Market Research, glass fibers segment accounted for 95.5% revenue share of the market.
By application, the global wind turbine rotor blade market has been segmented into onshore and offshore. Currently, bulk of rotor blades are deployed onshore, with this segment accounting for 96.2% revenue share of the market. In terms of revenue, the onshore segment was valued at US$ 5.87 Bn in 2016.
In its report, Persistence Market Research offers market forecast and analysis on North America, Latin America, Europe, Asia Pacific, and MEA. Key companies profiled in the report include LM Wind, Siemens, CNBM, Sinoma, and TPI Composites.
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