Rotor Blade Market to Grow at CAGR of 14.5 Pct by 2018

Companies worldwide are keen on developing innovative products in the Wind Energy industry to optimize the level of output. Vendors in the market are investing in R&D to reduce the weight of the rotor blades.

For instance, Siemens has manufactured a blade from glass fiber-reinforced epoxy resin and balsa wood using a patented integral blade process; this does not have seams, glued joints, or adhesives, which reduces the overall weight of the blade.

Analysts forecast the Global Wind Turbine Rotor Blade market will grow at a CAGR of 14.5 percent over the period 2013-2018. According to the report, several factors drive the growth of the Global Wind Turbine Rotor Blade market. Government support for wind energy projects is one of the most important growth drivers. In comparison to the early stages of development of the Wind Energy industry in 1991, the amount of support offered by governments across countries in recent years has been enormous in terms of policies, incentives, and subsidies.

The report recognizes the following companies as the key players in the Global Wind Turbine Rotor Blade Market : Enercon GmbH, Gamesa Corporación Tecnológica SA, LM Wind Power Holding A/S, Nordex SE, Vestas Wind System A/S, ACCIONA SA, Aeroblade SA, Dewind Co., EUROS Entwicklungsgesellschaft für Windkraftanlagen GmbH, FlexSys Inc., Guodian United Power Technology Co., Inox Wind Ltd., KM Co. Ltd., PowerBlades GmbH, Siemens Wind Power A/S, SINOI GmbH, Sinomatech Wind Power Blade Co. Ltd., Sulzon Energy Ltd., Tecnologia e Sistemas Avancados Ltda, TPI Composites Inc., Wuxi Turbine Blade Co. Ltd., Zhonghang Hui Teng Windpower Equipment Co. Ltd.

Key Market Driver

Increased Government Support for Wind Energy Projects

Key Market Challenge

High Cost of Offshore Wind Tower Installation

Key Market Trend

Increasing Investment in R&D