“Wind Turbine Rotor Blades – Global Market Size, Average Price, Regulations and Competitive Analysis to 2015” is the latest report from GlobalData. It is says to offer comprehensive information on the global turbine rotor blades market and provides forecasts out to 2015. The research gives detailed global analysis and installed capacity split by major manufacturers of wind rotor-blades market. This research also gives detailed analysis of the markets in key countries, namely the US, Germany and Spain. The study provides growth projections up to 2015 for key countries such as the US, Canada, Germany, Spain, China, India, and Denmark. Moreover, the report covers the technology and cost analysis for wind turbine rotor blades. Information on the regulatory framework and key policies governing the industry has also been dealt with in detail.
The report is built using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis by GlobalData’s Team of industry experts.
Annual installations to grow reach 55 GW by 2015
The global rotor-blade installations have increased from 15,127 MW in 2006 to 38,361 MW in 2010, at 26% annually. In light of the global economic recovery and strengthening demand in Asia Pacific and North American market, GlobalData estimates the annual installations to reach at 55 GW by 2015. The Asia Pacific region is emerging as a key driver for rotor-blade demand, particularly supported by strong government policies. China has acquired the top spot in annual installations in 2010 largely supported by the increasing domestic demand from the wind turbine manufacturers in the country. In India, government support for wind power will increase demand for rotor blades.
The North American rotor blade annual installations declined 47% in 2010 largely due to the financial crunch and decline in natural gas prices. However, from 2011, rotor blade installations are expected to rebound on the backdrop of increasing demand from the turbine manufacturers in the US. The rotor-blade market in Germany and Denmark will find support from the untapped offshore potential while the Spanish market is expected to gain support from the supportive government policies particularly from 2013.
Market value to reach $16 billion by 2015
The global rotor-blade market has grown to $7,787 million in 2009 from $2,556 million in 2006, at 33% annually. Key support for the market growth was the increasing installations and prices of rotor blades during the period. GlobalData projects the global rotor-blade market value to grow at 15% annually through 2015. By 2015, the rotor blade market value is expected to reach $16,027 million from $7,998 million in 2010.
Asia Pacific region is expected to emerge as a major market for blades because of the strong demand from the Chinese market. A vigorous North American market growth is expected from 2010 to 2015 largely driven by enhanced installations in the US and Canada. The European market for rotor blade will receive a push in the forecast period largely on the repowering and offshore markets.
The wind energy market has witnessed enormous growth in the past. The world’s cumulative installed capacity reached 198,468 MW in 2010, up from 74,151 MW in 2006, about 28% annually.The growth of the wind energy market is fueled by the depleting reserves of fossil fuels, declining cost of wind power generation, and a growing sensitivity for the environment.
From being an emerging fuel source twenty years ago, wind energy has transformed into a commercial generating technology in over 70 countries, with more effective and more reliable equipment and machinery. The global wind energy market is expanding at an accelerating pace, with wind energy installations growing by 24% in 2010 from 2009. The global wind energy annual installation has increased at 28% annually from 74,151 MW in 2006 to 198,468 MW in 2009, of which 38,454 MW came online only in 2010. Wind power will soon become an important player in the global energy market, with the growing equipment market creating a large number of jobs.
The number of independent suppliers of rotor blade is increasing driven by the demand supply imbalance in the turbine market. Strong government support for the wind sector is driving demand for rotor blades from turbine manufacturers. On the other hand wind-turbine manufacturers were constrained by the limited capacity to manufacture the turbine. As a consequence, outsourcing of component manufacturing, particularly of rotor blades, has gained significantly. The share of in-house production of rotor blades has declined to 54% of the overall rotor-blade production in 2009 from 62% in 2006.
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