Rising Environmental Concerns regarding use of Fossil Fuels to Influence Global Wind Turbine Rotor Blade Market Positively

Published On : 20 Dec 2016

QYResearchReports.com has announced the addition of a new market intelligence report, titled “Global Wind Turbine Rotor Blade Market 2016 Industry, Analysis, Research, Share, Growth, Sales, Trends, Supply, Forecast to 2021” to its database. The report offers essential insights into the global wind turbine rotor blade market for the forecast period of 2016 to 2021. It provides a detailed description of the various critical parameters including market dynamics, geographical segmentation, and competitive landscape.

Wind is an essential source of renewable energy and with the increasing efforts to cut down the reliance on fossil fuels, dependence on wind is likely to increase in the near future. The increasing energy synthesis from wind power is, therefore, working in favor of the global wind turbine rotor blade market. The rapidly growing population and improving economic conditions in various parts of the world are propelling the market. Moreover, the increasing environmental concerns coupled with the economic rewards of wind power are compelling government worldwide to encourage the growth of the market. 

The expansion in off-shore applications is translating into greater demand for wind turbines, which becomes another factor driving the market. Furthermore, the continuous advancements in the existing technologies and the revamping of old projects are providing immense growth opportunities to the global market for wind turbine rotor blade.

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However, there is a pressing need for companies operating in the market to address challenges such as difficulties in transportation and high development cost to make the most of the growth opportunities. Moreover, the high cost of raw materials required for the manufacturing of larger turbine blades is adversely affecting the growth of the material.

The regional markets studied in the report are China, Europe, the United States, and Japan. China is expected to tread along a healthy growth track during the forecast period. The burgeoning demand for electricity owing to the ever-growing population and the increasing government initiatives to promote the production of wind energy are bolstering the growth of the market in China. Europe is anticipated to flourish due to the increasing demand for cleaner fuels and presence of favorable environmental conditions, especially in Western Europe. The market for wind turbine rotor blade in Japan will be fuelled by the high acceptance of advanced turbines.

As most of the players in the energy sector are trying to capitalize on the abundance of wind power, this is leading to intensified competition in the global wind turbine rotor blade market. The majority of players are increasingly focusing on locating their set-ups close to their target markets in order to reduce the transportation costs and meet regulatory conditions. Some of the prominent players in the market are Kemrock Industries And Exports Limited, Blade Dynamics, Moog Inc., LM Wind Power Group, Siemens AG, SGS SA, and TANG Energy.

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