Asia Pacific Wind Turbine Rotor Blade Market Forecast to 2030 - Regional Analysis - by Type (Below 40m, 41-60m, 61-70m, and Above 70m) and Deployment Type (Onshore and Offshore)
The Asia Pacific wind turbine rotor blade market was valued at US$ 7,966.08 million in 2022 and is expected to reach US$ 17,354.84 million by 2030; it is estimated to grow at a CAGR of 10.2% from 2022 to 20 30.
Growing Investments in Offshore Wind Projects Asia Pacific Wind Turbine Rotor Blade Market.
Offshore wind farms are thought to be more efficient than onshore wind farms due to higher wind speeds, greater consistency, and a lack of physical interference from land or man-made things. Offshore wind speeds are typically higher than on land. Small changes in wind speed result in substantial gains in energy production: a turbine operating in a 15-mph wind can produce twice as much energy as a turbine operating in a 12-mph wind. Faster offshore wind speeds mean that significantly more energy can be generated. Offshore wind speeds are more consistent than on land. A more consistent supply of wind means a more dependable source of energy. Thus, owing to higher efficiency compared to onshore wind farms, the investments in offshore farms are increasing.
In Asia Pacific, the growing governmental focus on promoting renewable energy is fueling the number of wind projects. Pinnapuram Integrated Renewable Energy Project, Yudean Yangjiang Qingzhou I Offshore Wind Farm, MacIntyre Wind Farm, Yuedean Yangjiang Qingzhou II Offshore Wind Farm, and Abukuma Onshore Wind Farm were a few major wind projects in Asia Pacific in 2022. Further, India has also set an ambitious goal of constructing 30 gigatons (GW) of offshore wind capacity by 2030. Additionally, in 2022, the Asian Development Bank sealed a US$ 107 million financing project with BIM Wind Power Joint Stock Company to help the operation of an 88 MW wind farm in Ninh Thuan province, Vietnam. Also, in Japan, the government has set the target of 10 GW of offshore wind installation by 2030.
Such investments are expected to fuel the demand for offshore wind farms in the future, ultimately generating lucrative opportunities for the wind turbine blades industry.
Asia Pacific Wind Turbine Rotor Blade Market Overview
The Asia-Pacific wind turbine rotor blade market is classified into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. Asia Pacific is one of the leading regions in the wind turbine rotor blade market due to minimized cost of wind energy, favorable government initiatives, and a rise in investment in wind energy projects. The wind turbine rotor blade market expansion in Asia Pacific is primarily attributed to increasing investment in the renewable industry, exponential increase in industrialization and urbanization, wind energy generation capacity, new electrification projects, and grid strengthening initiatives.
According to the Global Wind Energy Council, newly added wind capacity in Asia Pacific in 2022 accounted for 56% of total wind capacity additions globally, with China contributing 87% of total additions in Asia Pacific. The wind energy sector in Asia Pacific is set for rapid expansion. It could make up nearly a quarter of the power capacity mix in the area this decade, according to a new study, as high domestic demand for offshore wind power turns Mainland China into the world's largest market by 2030. Thus, the rapid expansion of wind energy installations in the region is anticipated to propel the demand for wind turbine rotor blades from 2022 to 2030.
Asia Pacific wind turbine rotor blade market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Wind Turbine Rotor Blade Market Segmentation
The Asia Pacific wind turbine rotor blade market is segmented based on type, deployment type, and country. Based on type, the Asia Pacific wind turbine rotor blade market is segmented into Below 40m, 41-60m, 61-70m, and Above 70m . The Above 70m segment held the largest market share in 2022.
In terms of deployment type, the Asia Pacific wind turbine rotor blade market is bifurcated into onshore and offshore . The onshore held a larger market share in 2022.
Based on country, the Asia Pacific wind turbine rotor blade market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific wind turbine rotor blade market share in 2022.
TPI Composites Inc, Vestas Wind Systems AS, ENERCON GmbH, LM Wind Power AS, Siemens Gamesa Renewable Energy SA, Acciona SA, Suzlon Energy Ltd, Nordex SE, Envision Energy USA Ltd, and Lianyungang Zhongfu Lianzhong Composites Group Co Ltd are some of the leading companies operating in the Asia Pacific wind turbine rotor blade market.
Growing Investments in Offshore Wind Projects Asia Pacific Wind Turbine Rotor Blade Market.
Offshore wind farms are thought to be more efficient than onshore wind farms due to higher wind speeds, greater consistency, and a lack of physical interference from land or man-made things. Offshore wind speeds are typically higher than on land. Small changes in wind speed result in substantial gains in energy production: a turbine operating in a 15-mph wind can produce twice as much energy as a turbine operating in a 12-mph wind. Faster offshore wind speeds mean that significantly more energy can be generated. Offshore wind speeds are more consistent than on land. A more consistent supply of wind means a more dependable source of energy. Thus, owing to higher efficiency compared to onshore wind farms, the investments in offshore farms are increasing.
In Asia Pacific, the growing governmental focus on promoting renewable energy is fueling the number of wind projects. Pinnapuram Integrated Renewable Energy Project, Yudean Yangjiang Qingzhou I Offshore Wind Farm, MacIntyre Wind Farm, Yuedean Yangjiang Qingzhou II Offshore Wind Farm, and Abukuma Onshore Wind Farm were a few major wind projects in Asia Pacific in 2022. Further, India has also set an ambitious goal of constructing 30 gigatons (GW) of offshore wind capacity by 2030. Additionally, in 2022, the Asian Development Bank sealed a US$ 107 million financing project with BIM Wind Power Joint Stock Company to help the operation of an 88 MW wind farm in Ninh Thuan province, Vietnam. Also, in Japan, the government has set the target of 10 GW of offshore wind installation by 2030.
Such investments are expected to fuel the demand for offshore wind farms in the future, ultimately generating lucrative opportunities for the wind turbine blades industry.
Asia Pacific Wind Turbine Rotor Blade Market Overview
The Asia-Pacific wind turbine rotor blade market is classified into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. Asia Pacific is one of the leading regions in the wind turbine rotor blade market due to minimized cost of wind energy, favorable government initiatives, and a rise in investment in wind energy projects. The wind turbine rotor blade market expansion in Asia Pacific is primarily attributed to increasing investment in the renewable industry, exponential increase in industrialization and urbanization, wind energy generation capacity, new electrification projects, and grid strengthening initiatives.
According to the Global Wind Energy Council, newly added wind capacity in Asia Pacific in 2022 accounted for 56% of total wind capacity additions globally, with China contributing 87% of total additions in Asia Pacific. The wind energy sector in Asia Pacific is set for rapid expansion. It could make up nearly a quarter of the power capacity mix in the area this decade, according to a new study, as high domestic demand for offshore wind power turns Mainland China into the world's largest market by 2030. Thus, the rapid expansion of wind energy installations in the region is anticipated to propel the demand for wind turbine rotor blades from 2022 to 2030.
Asia Pacific wind turbine rotor blade market Revenue and Forecast to 2030 (US$ Million)
Asia Pacific Wind Turbine Rotor Blade Market Segmentation
The Asia Pacific wind turbine rotor blade market is segmented based on type, deployment type, and country. Based on type, the Asia Pacific wind turbine rotor blade market is segmented into Below 40m, 41-60m, 61-70m, and Above 70m . The Above 70m segment held the largest market share in 2022.
In terms of deployment type, the Asia Pacific wind turbine rotor blade market is bifurcated into onshore and offshore . The onshore held a larger market share in 2022.
Based on country, the Asia Pacific wind turbine rotor blade market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the Asia Pacific wind turbine rotor blade market share in 2022.
TPI Composites Inc, Vestas Wind Systems AS, ENERCON GmbH, LM Wind Power AS, Siemens Gamesa Renewable Energy SA, Acciona SA, Suzlon Energy Ltd, Nordex SE, Envision Energy USA Ltd, and Lianyungang Zhongfu Lianzhong Composites Group Co Ltd are some of the leading companies operating in the Asia Pacific wind turbine rotor blade market.
1. INTRODUCTION
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness
3. RESEARCH METHODOLOGY
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. ASIA PACIFIC WIND TURBINE ROTOR BLADE MARKET LANDSCAPE
4.1 Overview
4.2 Ecosystem Analysis
5. ASIA PACIFIC WIND TURBINE ROTOR BLADE MARKET - KEY INDUSTRY DYNAMICS
5.1 Wind Turbine Rotor Blade Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increased Energy Consumption and Trends of Clean Energy
5.2.2 Government Initiatives to Boost Green Energy Production
5.2.3 Innovations in Wind Turbine Blade Designs
5.3 Market Restraints
5.3.1 High Cost of Wind Turbine Installation and Maintenance
5.4 Market Opportunities
5.4.1 Growing Investments in Offshore Wind Projects
5.5 Future Trends
5.5.1 Increasing Adoption of Recycling Technology
5.6 Impact of Drivers and Restraints:
6. WIND TURBINE ROTOR BLADE MARKET - ASIA PACIFIC MARKET ANALYSIS
6.1 Wind Turbine Rotor Blade Market Revenue (US$ Million), 2022 - 2030
6.2 Wind Turbine Rotor Blade Market Forecast and Analysis
7. ASIA PACIFIC WIND TURBINE ROTOR BLADE MARKET ANALYSIS -TYPE
7.1 Wind Turbine Rotor Blade Market, By Type (2022 and 2030)
7.2 Below 40m
7.2.1 Overview
7.2.2 Below 40m Market, Revenue and Forecast to 2030 (US$ Million)
7.3 41-60m
7.3.1 Overview
7.3.2 41-60m Market, Revenue and Forecast to 2030 (US$ Million)
7.4 61-70m
7.4.1 Overview
7.4.2 61-70m Market, Revenue and Forecast to 2030 (US$ Million)
7.5 Above 70m
7.5.1 Overview
7.5.2 Above 70m Market, Revenue and Forecast to 2030 (US$ Million)
8. ASIA PACIFIC WIND TURBINE ROTOR BLADE MARKET ANALYSIS - DEPLOYMENT TYPE
8.1 Wind Turbine Rotor Blade Market, By Deployment Type (2022 and 2030)
8.2 Onshore
8.2.1 Overview
8.2.2 Onshore Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Offshore
8.3.1 Overview
8.3.2 Offshore Market, Revenue and Forecast to 2030 (US$ Million)
9. ASIA PACIFIC WIND TURBINE ROTOR BLADE MARKET - COUNTRY ANALYSIS
9.1 Asia Pacific
9.1.1 Asia Pacific Wind Turbine Rotor Blade Market Overview
9.1.2 Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Country
9.1.2.1 Australia Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.1.1 Australia Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.1.2 Australia Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.2 China Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.2.1 China Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.2.2 China Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.3 India Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.3.1 India Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.3.2 India Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.4 Japan Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.4.1 Japan Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.4.2 Japan Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.5 South Korea Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.5.1 South Korea Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.5.2 South Korea Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.6 Rest of Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.6.1 Rest of Asia Pacific Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.6.2 Rest of Asia Pacific Wind Turbine Rotor Blade Market Breakdown by Deployment Type
10. COMPETITIVE LANDSCAPE
10.1 Heat Map Analysis by Key Players
11. INDUSTRY LANDSCAPE
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. COMPANY PROFILES
12.1 TPI Composites Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Vestas Wind Systems AS
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 ENERCON GmbH
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 LM Wind Power AS
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Siemens Gamesa Renewable Energy SA
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Acciona SA
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Suzlon Energy Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Nordex SE
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Envision Energy USA Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Lianyungang Zhongfu Lianzhong Composites Group Co Ltd
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. APPENDIX
13.1 About The Insight Partners
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. EXECUTIVE SUMMARY
2.1 Key Insights
2.2 Market Attractiveness
3. RESEARCH METHODOLOGY
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. ASIA PACIFIC WIND TURBINE ROTOR BLADE MARKET LANDSCAPE
4.1 Overview
4.2 Ecosystem Analysis
5. ASIA PACIFIC WIND TURBINE ROTOR BLADE MARKET - KEY INDUSTRY DYNAMICS
5.1 Wind Turbine Rotor Blade Market - Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increased Energy Consumption and Trends of Clean Energy
5.2.2 Government Initiatives to Boost Green Energy Production
5.2.3 Innovations in Wind Turbine Blade Designs
5.3 Market Restraints
5.3.1 High Cost of Wind Turbine Installation and Maintenance
5.4 Market Opportunities
5.4.1 Growing Investments in Offshore Wind Projects
5.5 Future Trends
5.5.1 Increasing Adoption of Recycling Technology
5.6 Impact of Drivers and Restraints:
6. WIND TURBINE ROTOR BLADE MARKET - ASIA PACIFIC MARKET ANALYSIS
6.1 Wind Turbine Rotor Blade Market Revenue (US$ Million), 2022 - 2030
6.2 Wind Turbine Rotor Blade Market Forecast and Analysis
7. ASIA PACIFIC WIND TURBINE ROTOR BLADE MARKET ANALYSIS -TYPE
7.1 Wind Turbine Rotor Blade Market, By Type (2022 and 2030)
7.2 Below 40m
7.2.1 Overview
7.2.2 Below 40m Market, Revenue and Forecast to 2030 (US$ Million)
7.3 41-60m
7.3.1 Overview
7.3.2 41-60m Market, Revenue and Forecast to 2030 (US$ Million)
7.4 61-70m
7.4.1 Overview
7.4.2 61-70m Market, Revenue and Forecast to 2030 (US$ Million)
7.5 Above 70m
7.5.1 Overview
7.5.2 Above 70m Market, Revenue and Forecast to 2030 (US$ Million)
8. ASIA PACIFIC WIND TURBINE ROTOR BLADE MARKET ANALYSIS - DEPLOYMENT TYPE
8.1 Wind Turbine Rotor Blade Market, By Deployment Type (2022 and 2030)
8.2 Onshore
8.2.1 Overview
8.2.2 Onshore Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Offshore
8.3.1 Overview
8.3.2 Offshore Market, Revenue and Forecast to 2030 (US$ Million)
9. ASIA PACIFIC WIND TURBINE ROTOR BLADE MARKET - COUNTRY ANALYSIS
9.1 Asia Pacific
9.1.1 Asia Pacific Wind Turbine Rotor Blade Market Overview
9.1.2 Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis - By Country
9.1.2.1 Australia Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.1.1 Australia Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.1.2 Australia Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.2 China Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.2.1 China Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.2.2 China Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.3 India Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.3.1 India Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.3.2 India Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.4 Japan Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.4.1 Japan Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.4.2 Japan Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.5 South Korea Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.5.1 South Korea Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.5.2 South Korea Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.6 Rest of Asia Pacific Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.6.1 Rest of Asia Pacific Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.6.2 Rest of Asia Pacific Wind Turbine Rotor Blade Market Breakdown by Deployment Type
10. COMPETITIVE LANDSCAPE
10.1 Heat Map Analysis by Key Players
11. INDUSTRY LANDSCAPE
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. COMPANY PROFILES
12.1 TPI Composites Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Vestas Wind Systems AS
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 ENERCON GmbH
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 LM Wind Power AS
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Siemens Gamesa Renewable Energy SA
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Acciona SA
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Suzlon Energy Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Nordex SE
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Envision Energy USA Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Lianyungang Zhongfu Lianzhong Composites Group Co Ltd
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. APPENDIX
13.1 About The Insight Partners
