The report “Wind Turbine Rotor Blades Market, By Material (Glass Fiber, and Carbon), By Application (OffShore Wind Power Generation, and Onshore Wind Power Generation, and By Region, (North America, Europe, Latin America, Asia Pacific, Middle East and Africa) – Global Forecast to 2028″.
The wind turbine rotor blades market size is projected to grow from US$ 7.21 billion in 2018 to US$ 53.08 billion by 2028. The global wind turbine rotor blades market is expected to register lucrative growth over the forecast period. This is attributed to increasing demand of electricity from wind source as it is a free energy resource.
Therefore, many industries are investing in wind turbine rotor blades, as there exists a pressing need to find an alternative source of energy considering the depletion of natural resources such as natural gas, fossil fuel, wood and coal.
Further, the wind turbine technology as also acknowledged as a clean and environmental friendly technology, as it does not emit carbon dioxide. Hence, installation of wind turbine projects is in demand, which favors the market of wind turbine rotor blades market.
Moreover, along with the industrial development and innovation in the field of wind power generation is also expected to propel the wind turbine rotor blades market.
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· On 4 th December, WindEurope and the European Chemical Industry Council joined forces to host a workshop in Brussels, which aimed to assess the chemical industry to support the wind industry.
· On 12th December 2018, according to the Russian Association of Wind Industry (RAWI) Vetas opended its blade production facility in Ulyanovsk. This unit is expected to produce more than 55 blades in 2019.
Key Market Insights from the report:
The global market accounted for US$ 7.21billion in 2018 and is projected to register a lucrative CAGR of 19.0% over the forecast period. The market report has been segmented on the basis of material, and region.
· By material the glass fibers segment accounted the majority share and is expected to dominate over the forecast.
· By application, the onshore segment is expected dominate over the offshore segment, and is expected to maintain its dominance over the forecast period.
· By region, North America electric vehicle battery market accounted for major revenue share of the global electric vehicle battery market and is further anticipated to maintain its dominance over the forecast period. The market in Europe accounted for second-highest revenue share in 2018.
Browse 70 market data tables* and 37 figures* on through 140 slides and in-depth TOC “ Global Wind Turbine Rotor Blades Market, By Material (Glass Fiber, and Carbon Fiber), By Application (Offshore Wind Power Generation, and Onshore Wind Power Generation) – Global forecast till 2028.
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The prominent player operating in the global wind turbine rotor market includes TPI Composite, Nordex SE, Vestas Wind Systems A/S, Senvion S.A., LM Wind Power, Enercon GmbH, Siemens Wind Power, Carbon Rotec GmbH & Co. KG., and Sinomatech Wind Power Blade Co.
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