Market Overview:
The global wind turbine composites material market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for wind energy across the globe and the rising awareness about renewable energy sources. In terms of type, the glass fiber segment is expected to lead the global wind turbine composites material market during the forecast period, followed by carbon fiber. The glass fiber segment is projected to grow at a CAGR of 8% during 2018-2030, while carbon fiber is projected to grow at a CAGR of 6%. In terms of application, leaf blade accounted for majority share in 2017 and it is expected that this trend would continue over next few years as well.
Product Definition:
Wind turbine composites material is a composite material used in the construction of wind turbines. It is made up of fiberglass, carbon fiber, and other materials that make it strong and lightweight. This allows for the production of wind turbines that are both durable and efficient.
Glass Fiber:
Glass fiber, also known as fiberglass or glass wool, is a type of man-made mineral fibers that are made from raw materials such as silica and other ingredients. It has high tensile strength and durability along with being lightweight. These properties have helped in making it one of the most commonly used material for the manufacturing of composites across various industries including wind energy and aerospace.
Carbon Fiber:
Carbon fiber is a material made from carbon atoms that are bonded together in crystals. Carbon fibers are different than glass fibers as they have much more internal strength. The primary reason for the increased demand for carbon fiber is its high strength-to-weight ratio which makes it very useful in the wind energy industry where lightweight is of prime importance.
The global market size was valued at USD 1,072 million in 2015.
Application Insights:
The other application segment includes blades, towers, and nacelles. The demand for the product in these applications is expected to witness a CAGR of XX% from 2018 to 2030 owing to the increasing need for replacing fossil-based energy with renewable sources of energy.
The blade segment held around 40% of the overall share in terms of revenue as well as volume in 2017 and is expected to witness significant growth over the forecast period on account of its high durability and low cost compared with other materials used for manufacturing blades such as steel alloys or aluminum alloys.
Regional Analysis:
North America dominated the global market in 2017. The growth of the regional market can be attributed to increasing wind energy capacity in the U.S., which has spurred demand for turbines with improved efficiency and reduced weight. Moreover, technological advancements such as composite lay-up techniques used for manufacturing large blades are anticipated to drive industry expansion over the next eight years.
Asia Pacific is expected to witness significant gains during the forecast period owing to rising government initiatives across countries such as China and India aimed at reducing carbon footprint along with growing awareness about renewable energy sources among consumers, which is likely to boost product demand over the coming years. In addition, favorable government policies promoting investments in offshore wind farms are projecteded boost regional growth further on account of increased installation of offshore wind power generation equipment across countries such as China and Japan from 2018 till 2030 (see Figure 1).
Growth Factors:
- Increasing demand for wind energy due to environmental concerns and the need for renewable energy sources
- Government initiatives and subsidies for installation of wind turbines, which is expected to drive the market growth
- Technological advancements in wind turbine composites materials that improve performance and efficiency
- Rising demand from emerging economies such as China, India, Brazil, etc., which is expected to create new opportunities for market growth
- Growing awareness about the benefits of using wind turbines as a source of renewable energy
Scope Of The Report
Report Attributes
Report Details
Report Title
Wind Turbine Composites Material Market Research Report
By Type
Glass Fiber, Carbon Fiber
By Application
Leaf Blade, Chassis, Other
By Companies
LM WIND POWER, AVIC HUITENG WIND POWER EQUIPMENT, VESTAS WIND SYSTEMS, MFG WIND, TPI COMPOSITES, SUZLON ENERGY, AREVA, SIEMENS, LIANYUNGANG ZHONGFU LIANZHONG COMPOSITES
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
239
Number of Tables & Figures
168
Customization Available
Yes, the report can be customized as per your need.
Global Wind Turbine Composites Material Market Report Segments:
The global Wind Turbine Composites Material market is segmented on the basis of:
Types
Glass Fiber, Carbon Fiber
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Leaf Blade, Chassis, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- LM WIND POWER
- AVIC HUITENG WIND POWER EQUIPMENT
- VESTAS WIND SYSTEMS
- MFG WIND
- TPI COMPOSITES
- SUZLON ENERGY
- AREVA
- SIEMENS
- LIANYUNGANG ZHONGFU LIANZHONG COMPOSITES
Highlights of The Wind Turbine Composites Material Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Glass Fiber
- Carbon Fiber
- By Application:
- Leaf Blade
- Chassis
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Wind Turbine Composites Material Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Wind turbine composites material is a type of composite material that is used in the construction of wind turbines. Wind turbine composites are made up of a variety of materials, including plastics, fibers, and metals. These materials are combined to create a strong and lightweight structure that can withstand the forces exerted by the wind.
Some of the major players in the wind turbine composites material market are LM WIND POWER, AVIC HUITENG WIND POWER EQUIPMENT, VESTAS WIND SYSTEMS, MFG WIND, TPI COMPOSITES, SUZLON ENERGY, AREVA, SIEMENS, LIANYUNGANG ZHONGFU LIANZHONG COMPOSITES.
The wind turbine composites material market is expected to grow at a compound annual growth rate of 7.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wind Turbine Composites Material Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Wind Turbine Composites Material Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Wind Turbine Composites Material Market - Supply Chain
4.5. Global Wind Turbine Composites Material Market Forecast
4.5.1. Wind Turbine Composites Material Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Wind Turbine Composites Material Market Size (000 Units) and Y-o-Y Growth
4.5.3. Wind Turbine Composites Material Market Absolute $ Opportunity
5. Global Wind Turbine Composites Material Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Wind Turbine Composites Material Market Size and Volume Forecast by Type
5.3.1. Glass Fiber
5.3.2. Carbon Fiber
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Wind Turbine Composites Material Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Wind Turbine Composites Material Market Size and Volume Forecast by Application
6.3.1. Leaf Blade
6.3.2. Chassis
6.3.3. Other
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Wind Turbine Composites Material Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Wind Turbine Composites Material Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Wind Turbine Composites Material Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Wind Turbine Composites Material Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Wind Turbine Composites Material Demand Share Forecast, 2019-2026
9. North America Wind Turbine Composites Material Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Wind Turbine Composites Material Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Wind Turbine Composites Material Market Size and Volume Forecast by Application
9.4.1. Leaf Blade
9.4.2. Chassis
9.4.3. Other
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Wind Turbine Composites Material Market Size and Volume Forecast by Type
9.7.1. Glass Fiber
9.7.2. Carbon Fiber
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Wind Turbine Composites Material Demand Share Forecast, 2019-2026
10. Latin America Wind Turbine Composites Material Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Wind Turbine Composites Material Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Wind Turbine Composites Material Market Size and Volume Forecast by Application
10.4.1. Leaf Blade
10.4.2. Chassis
10.4.3. Other
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Wind Turbine Composites Material Market Size and Volume Forecast by Type
10.7.1. Glass Fiber
10.7.2. Carbon Fiber
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Wind Turbine Composites Material Demand Share Forecast, 2019-2026
11. Europe Wind Turbine Composites Material Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Wind Turbine Composites Material Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Wind Turbine Composites Material Market Size and Volume Forecast by Application
11.4.1. Leaf Blade
11.4.2. Chassis
11.4.3. Other
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Wind Turbine Composites Material Market Size and Volume Forecast by Type
11.7.1. Glass Fiber
11.7.2. Carbon Fiber
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Wind Turbine Composites Material Demand Share, 2019-2026
12. Asia Pacific Wind Turbine Composites Material Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Wind Turbine Composites Material Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Wind Turbine Composites Material Market Size and Volume Forecast by Application
12.4.1. Leaf Blade
12.4.2. Chassis
12.4.3. Other
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Wind Turbine Composites Material Market Size and Volume Forecast by Type
12.7.1. Glass Fiber
12.7.2. Carbon Fiber
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Wind Turbine Composites Material Demand Share, 2019-2026
13. Middle East & Africa Wind Turbine Composites Material Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Wind Turbine Composites Material Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Wind Turbine Composites Material Market Size and Volume Forecast by Application
13.4.1. Leaf Blade
13.4.2. Chassis
13.4.3. Other
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Wind Turbine Composites Material Market Size and Volume Forecast by Type
13.7.1. Glass Fiber
13.7.2. Carbon Fiber
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Wind Turbine Composites Material Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Wind Turbine Composites Material Market: Market Share Analysis
14.2. Wind Turbine Composites Material Distributors and Customers
14.3. Wind Turbine Composites Material Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. LM WIND POWER
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. AVIC HUITENG WIND POWER EQUIPMENT
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. VESTAS WIND SYSTEMS
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. MFG WIND
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. TPI COMPOSITES
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. SUZLON ENERGY
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. AREVA
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. SIEMENS
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. LIANYUNGANG ZHONGFU LIANZHONG COMPOSITES
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook
