Wind Turbine Blades Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI3616
Increasing dependency on decentralized generation systems owing to rising number of wind turbine installations will drive the industry dynamics. Rising energy demand fueled by shifting focus toward renewable generation technologies will positively influence the industry landscape. Moreover, increased power output, improved efficiency and enhanced operational performance will complement the overall wind turbine blades market.
Rising awareness toward integration of wind energy systems coupled with depleting reserves of conventional sources will fuel the demand for wind turbine blades market. As per the U.S. energy information administration, in 2019 the production capacity from wind power generation technologies will increase by 12% globally. Stringent regulation to curb GHG emissions supported by shifting focus toward development of renewable energy generation technologies adhered by intiatives for promotion of clean energy will stimulate the industry growth.
Wind turbine blades market will witness growth on account of large share of renewable power contribution from wind energy according to Paris Climate Change Conference of the Parties COP21 agreement in 2015. Recent technological advancements in wind blades design for improving the power generating capacity of the systems favored by accelerated investments will boost the technological adoption. Furthermore, growing focus towards restructuring of conventional energy infrastructure favored by supportive regulatory policies will escalate the business potential.
< 45 meters wind turbine blades market will witness growth on account of cost effectiveness along with ease of operations. Rising government initiatives for promoting the renewable energy mix across industries will drive the product penetration. Ongoing industrialization coupled with upscaling deployment of these units in applications requiring low rated capacity will promote the business growth.
45 - 60 meters wind turbine blades market is set to grow owing to increased turbine output in line with low maintenance cost. These units are feasible for large scale power generation subject to improved operational activity adhered by positive outlook toward product installation will propel the industry growth. Ability of these blades to produce energy in uneven weather condition will further augment the product demand.
Onshore wind turbine blades market is set to rise with reference to declining project development cost favored by positive government incentives. Growing alternative generation technologies, space constraints in line with high capital investment have been restraining the business growth. However minimal carbon emissions, enhanced operational efficiency coupled with low cost economic structure will complement the industry outlook.
Rising electricity prices along with reduced installation and maintenance costs are the major factors stimulating the offshore wind turbine blades market growth. Compact size in line with increasing dependency for distributed generation systems will favor the technological adoption. In addition, growing focus of manufacturers toward advancements in blade size for integration of large turbines will energize the industry potential.
Prominent wind turbine blades market players include Siemens Gamesa, GENERAL ELECTRIC, Sinoma Science & Technology, TECSIS, TPI Composites, Vestas, Sinoma, Avic, TMT, Zhongfu Lianzhong and others.
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