According to a new research report by Global Market Insights Inc., the Expanded Metal Foils Market for wind turbine blades lightning protection is forecast to exceed USD 1,135 million by 2030.
Due to increasing global warming and fear of extinction of natural resources, the global community is promoting the use of wind turbines in the energy generation sector. It is estimated that the use of wind energy can avoid the production of 327 million metric tons of CO2 emissions. The growing installation of wind turbines has led to the demand for metal foils for blades protection. Various metal foils have versatile protection capability and are installed according to the size & application of the turbine & blade dimensions.
Various governments across the world are supporting the use of wind turbines for the generation of renewable energy. This will increase the demand for metal foils for lightning protection on wind turbine blades. For example, the U.S. government offers a Production Tax Credit (PTC) and an Investment Tax Credit (ITC) on wind turbines to promote their construction. The Interior Department’s Bureau of Ocean Energy Management (BOEM) has announced a new area for wind energy generation to produce more wind energy and create jobs. Similarly, various other regions have started to promote the use of wind turbines for the generation of sustainable energy as it reduces emissions, reduces carbon footprints & creates employment.
Wind turbines have gained widespread acceptance as a sustainable energy source. However, there are certain limitations or issues that the user must deal with after product installation. When the wind turbine is turned on, it makes a lot of noise. The noise created by wind turbines is one aspect that might stifle the market for expanded metal foils for wind turbine blade lightning protection. Furthermore, technological development and innovation in wind turbines will help to reduce noise production.
Browse key industry insights spread across 120 pages with 130 market data tables & 20 figures & charts from the report, “Expanded Metal Foils Market Size for Wind Turbine Blades Lightning Protection, By Wind Turbine Type (Horizontal-Axis, Vertical-Axis), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022-2030”, in detail along with the table of contents:
The surging demand for horizontal-axis wind turbines
The horizontal-axis segment is anticipated to register at a CAGR of 10.5% between 2022 - 2030. In this type of turbine, the rotor’s axis is parallel to the direction of the wind & ground. The turbine can be a two-blade or a three-blade turbine. The rotor converts the linear motion of the wind into rotational motion. The mechanical rotational motion is converted into electric energy using generators. This type of wind turbines is generally preferred where the stream of wind is expected to be constant and generate maximum energy.
North America to exhibit steady growth during the forecast period
The North America expanded metal foils market for wind turbine blades lightning protection will hold a revenue share of over 15% by 2030. The U.S. Department of Energy is promoting various policies regarding the installation of wind turbines in the region. The U.S. observed a robust growth in the installation of wind turbines and is expected to grow further.
Some of the key players in the expanded metal foils industry are Dexmet Corporation, Niles International, CThru Metals, Alabama Metal Industries Corporation (AMICO), New Metals Inc., Wallner Expac, and Yilida Metal Wire Mesh Co., Ltd., among others.