MarketsandMarkets (M&M), a U.S.-based worldwide market research and consulting company, has declared the availability of a new study report titled, “Global Wind Turbine Rotor Blade Market by Testing, Material, Blade Size, Regulations & Outlook (2011 – 2016)” in its range of report offerings.
The report estimates that the worldwide market for wind turbine rotor blade will achieve a compound annual growth rate (CAGR) of 13.6% to reach $14.6 billion in 2016 from the present $7.7 billion in 201.
The report cites increased level of energy use from upcoming countries, increase in prices of fossil fuel sources, and supportive regulatory environment for wind energy generation as reasons for the 197 GW wind power generation at the end of the year 2010. In the same year over 37.6 MW wind projects were installed by utilizing 70,579 turbine blades valued at of $6.8 billion.
The report finds rotor blades in 38 to 50 m length holds the worldwide market share of 55% in 2010 and predicts it will reach 62% by 2016. On the materials used for the manufacture of blades, Glass fiber composites leads the list and used around 0.15 Mt material for the manufacture in 2010. The Carbon Fiber material is normally used for blade sizes beyond 45 m and around 8,160 t was used in 2010 and this figure is anticipated to reach around 2 Mt in 2016, thus attaining a growth rate of 22.9% from 2011 to 2016.
The report finds that though most of the blade manufacturing companies have shifted their production facilities to the Asia-Pacific countries and China, they still depend on European facilities for reliability. The report estimates the wind rotor blade segment in Asia-Pacific at $9.1 billion with yearly installation of around 93,243 blades. The Asia-Pacific market is expected to achieve a CAGR of 19.3% in the period from 2011 to 2016 with maximum growth at China.