Global Wind Turbine Rotor Market: Overview
Wind is an important part of the present-day global renewable energy scenario and with the increasing focus on minimum dependence on fossil fuels, reliance on wind is expected to rise in the foreseeable future. Currently, turbines are the most widely used machines to convert wind energy into electrical energy with the movement of the blades operating an electricity generator. The increasing off-shore applications are leading to rising demand for wind turbines, which in turn is driving the growth of the global turbine rotor blade market.
The report offers insights into the drivers, restraints, and opportunities influencing the growth of the global wind turbine rotor blade market. It presents a detailed description of the competitive landscape of the market using analytical tools such as Porter’s five force analysis and market attractiveness analysis. It provides a holistic perspective of the market’s growth across various regions in terms of volume as well as revenue.
Global Wind Turbine Rotor Blade Market: Drivers and Trends
The global wind turbine rotor blade market is propelled by the growing population and improving economic conditions in several parts of the world. Rising environmental concerns and economic advantages of wind power are prompting governments worldwide to support the growth of the market. Moreover, the declining cost per kWh of wind energy generation is stoking the growth of the market. Technological advancements and repowering of old projects are providing significant growth opportunities to the market. However, manufacturers need to mitigate critical challenges such as high development cost and difficulties in transportation to capitalize on potential opportunities.
The material of turbine rotor blades is of high importance as it provides the desired stiffness, density, and fatigue life features to wind turbines. Reliability, low material cost, and light weight are some of the important factors considered during material selection. Blades are usually made up of glass-reinforced plastic (GRP) and this trend is expected to continue over the forecast period. Carbon fiber reinforced plastic (CFRP) and composites are likely to gain popularity in the forthcoming years as these are helpful in cutting down weight and cost up to certain extent.
Global Wind Turbine Rotor Blade Market: Geographical Segmentation
The regional markets studied in the report are North America, Asia Pacific, Europe, and Rest of the World (RoW). The Asia Pacific market for wind turbine rotor blade is anticipated to flourish owing to increasing demand for electricity in developing countries such as India and China and growing government initiatives encouraging the production of wind energy. Europe is likely to emerge as one of the most lucrative markets during the forecast period. The demand for wind turbine rotor blades is estimated to increase, particularly in Western Europe, owing to the high acceptance of technologically advanced turbines and presence of conducive environmental conditions.
Companies Mentioned in the Report
The abundance of wind power is fuelling the growth of the market, which in turn will boost competition in the market. In order to cut down on transportation costs and meet regulatory conditions, the key players are trying to locate their set-ups close to their target markets. Some of the key players in the global wind turbine rotor blade market are Blade Dynamics, Kemrock Industries And Exports Limited, LM Wind Power Group, Moog Inc., SGS SA, Siemens AG, and TANG Energy.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.