Consolidation in the wind-turbine market is forcing companies along the wind blade value chain to assess supply chain dynamics and strategy, report finds.
A report from Navigant Research assesses the global wind blade market, focusing on 22 wind turbine manufacturers and 18 independent blade manufacturers, and providing global forecasts for manufacturing capacity, blade revenue, and wind blade installations, through 2025. According to the report, cumulative global wind blade revenue is expected to total $72.4 billion from 2016 to 2025.
Stakeholders in today’s global wind turbine market are committing a greater amount of research and development investment to wind blades than to any other component in wind turbines. Wind turbine original equipment manufacturers (OEMs) are designing blades and drawing from advanced materials offerings from the major chemicals, polymers, composites, and stitched fabrics materials companies, while materials companies are competing to bring higher modulus and strength solutions to market to satisfy clients seeking longer and stiffer blades while controlling cost and supply chain flexibility.
“The strength-to-weight value proposition is important in the wind turbine business, where incremental blade size increases result in significantly more energy capture,” says Jesse Broehl, senior research analyst with Navigant Research. “Additionally, because of a major increase in mergers and acquisitions in the global wind market among wind turbine vendors and wind blade manufacturers, many companies along the value chain are being forced to assess and reevaluate their wind blade market strategies.”
Growth rates in the wind blade market from 2016 to 2025 are expected to be limited as wind power has largely peaked and leveled out across the globe, according to the report. Higher growth country markets include South Africa and Latin America, while the two largest markets, China and the United States, are expected to see substantial development over the next few years before decelertaing between 2019 and 2021 as targets and policies are met.
The report, Wind Turbine Blade Technology & Supply Chain Assessment, assesses the global wind blade market, with a focus on 22 wind turbine OEMs and 18 independent blade manufacturers. The study examines how the major global wind turbine OEMs manufacture and/or outsource their blades and their supplier relationships. Global market forecasts for manufacturing capacity, blade revenue, and wind blade installations extend through 2025. The report also examines the key technologies related to wind blades and provides profiles of leading wind turbine OEMs and independent blade manufacturers. An Executive Summary of the report is available for free download on the Navigant Research website.