San Francisco, California, May 23, 2017: The growing population and improving economic condition across various parts of the world have upped the demand for energy, and thus wind turbine rotor blade. As nations around the world grapple with concerns pertaining to economic stability, benefits offered by wind power are realized. This is one of the key stimulants of the global wind turbine rotor blade market. In a report, titled “Wind Turbine Rotor Blade Market – Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 – 2025,” TMR Research evaluates diverse factors chalking the market’s growth trajectory. It covers growth drivers and challenges posing threat, substantiated using decisive data obtained from trusted industrial sources.
The dropping price of per kWh of wind energy has tipped scales in favor of the global wind turbine rotor blade market. Recent technological advancements, coupled with emphasis on repowering, also garnered much opportunities for the market. However, to capitalize on the same, manufacturers are required to address a few critical challenges such as high development cost and difficulties persisting in transportation.
Rotor blades are affixed to rotors and thus are critical to any wind turbine. Material used for producing rotor blades hold high significance as it help wind turbines get the preferred density, fatigue life features, and stiffness. In the forthcoming years, the market is slated to gain higher traction for carbon fiber reinforced plastic (CFRP) as these have shown great results in reducing weight and cost to an extent.
Companies operating in the global wind turbine rotor blade market are focusing on improving production capacities via strategic collaborations and regional expansion. These are likely to remain key trends adopted by the market players through the forecast period, thus giving considerable impetus to the overall market.
Regionally, Asia Pacific, Latin America, North America, Europe, and the Middle & Africa constitute the key market segments. Among these regions, Asia Pacific will offer the most lucrative opportunities, therefore contributing a major share in the revenue generated by the global wind turbine rotor blade market between 2017 and 2025. The rising demand for electricity in developing nations such as India and China, besides favorable government initiatives aimed at encouraging production of energy from renewable sources will aid the market’s expansion in Asia Pacific. In addition, the market is expected to report robust growth in Europe.