Wind has always been viewed as a vital part in the global transition towards renewable energy. The aim of minimizing fossil fuel emissions has boosted the future prospects of wind turbine manufacturers. The latest advancements in wind turbine design enable us to harness the energy of the wind as electrical energy. This conversion depends on the rotation of the wind turbine blades. The movement of a wind turbine blade enables the functioning of a built-in generator for producing electricity. Thus, the Wind Turbine Blade Market is well-placed to exhibit tremendous growth during the forecast period of 2016-2021.
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Scope & Regional Forecast of the Wind Turbine Blade Market
The Wind Turbine Blade Market considers the prime growth drivers to be a few factors like: a rapidly growing population which demands access to electricity; growing climate change awareness prompting governments to invest in the most efficient wind turbine models; the gradually decreasing cost of wind energy thanks to innovative blade design varieties; and technological advancements in transmitting energy from wind turbine farms to the location of requirement.
The Wind Turbine Blade Market has focused on the development of the wind turbine blade design as the blades have to be stiff, dense and an exceptional operation life. The latest turbine blade design varieties have been able to integrate all of these qualities and combine them with low production costs as well as a light weight. Prompted by China and India, Asia-Pacific currently dominated the Wind Turbine Blade Market. Regularly wind-swept Europe, especially the western part, is expected to emerge as a key demand driver during the forecast period.
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Segmentations & Key Players Involved in the Wind Turbine Blade Market
The Wind Turbine Blade Market can be broken down into various segments as follows:
Type: < 1.5 MW, 1.5 MW, 1.5-2.0 MW, 2.0 MW, 2.0-3.0 MW, 3.0 MW, 3.0-5.0 MW and ≥5.0 MW.
Application: Wind Turbine and Others.
Geographical Location: North America (USA, Canada and Mexico), Europe (Germany, France, UK, Russia and Italy), Asia-Pacific (China, Japan, Korea, India and Southeast Asia) and Latin America, Middle East and Africa.
Some of the key players involved in the Wind Turbine Blade Market are as follows:
- Zhongfu Lianzhong
- Haizhuang Windpower
- XEMC New Energy
- TPI Composites
- LM Wind Power
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