Wind Turbine Blade Market – Competitive Landscape
The fiercely competitive market of Wind Turbine Blade is categorized by the presence of numerous large & small players. Players of the market incorporate collaboration, acquisition, technology/product launch, partnership, and expansion. Some other key strategies of the key players in the market are, promotions through trade exhibitions, collaboration and greater commercialization of their products. These key players strive to develop their portfolio with a range of high quality blades of different sizes and capacities.
A wind turbine blade is a fundamental constituent of a wind turbine which captures wind energy by converting it into rotation used to move the turbine. The Wind Turbine Blade Market is expected to generate a CAGR of 8.6 % during the forecast period ending 2027.
Growing development of wind energy due to rising energy demands, concerns over emissions and enactment of regulations such as the Kyoto protocol, government support for renewable energy, compulsory renewable energy acquisition agreements, attractive economics of wind energy such as falling cost per kWh of wind power and others are the critical determinants of the market.
Advances in structural and material engineering such as lattice and hybrid blades, growing use of glass-reinforced plastic (GRP) and Carbon fiber reinforced plastic (CFRP) as well as composites are technical drivers of the market. Advances in designing such as computer simulations and computer aided design have resulted in development of high efficiency blades with ergonomic designs, a trend likely to continue.
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Some of the key players in the Wind Turbine blade market are
- Siemens AG (Germany)
- Acciona S.A. (Spain)
- Vestas Wind Systems (Denmark)
- Suzlon Energy Limited (India)
- Stem AS (Denmark)
- Gamesa Corporacion Tecnologica (Spain)
Wind Turbine Blade Market – Segmentation
Global Wind Turbine Blade Market is segmented in to 3 Key dynamics for an easy grasp and enhanced understanding.
By Types : Comprises – Glass Fiber and Carbon Fiber.
By Sizes :50 Meter.
By Regions : North America, Europe, APAC and Rest of the World.
Worldwide Wind Turbine Blade Market – Regional Analysis
Asia-Pacific region dominates the global market of Wind Turbine Blade; reason being the encouraging government policies coupled with favourable investment prospects. Increasing awareness towards ecological benefits offered by renewable energy sources is the key propeller of the market growth in the region.
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