Global wind turbine blade market to reach USD 14.6bn by 2016

Jul 19, 2011 - Global wind turbine rotor blade market is seen to grow at an annual compound growth rate (CAGR) of 13.6% to USD 14.6 billion (EUR 10.3bn) in 2016, according to a new report released by consultancy MarketsandMarkets.

The report, named Global Wind Turbine Rotor Blade Market by Testing, Material, Blade Size, Regulations & Outlook ( 2011-2016, estimates the market's value at USD 7.7 billion in 2011.

According to the report, wind turbines with total capacity of 37.6 MW and mounted with 70,579 blades were installed in 2010, valuing the blade market at USD 6.8 billion.

The report names Asia-Pacific as the fastest growing blade market and expects it grow at a CAGR of 19.3% to USD 9.1 billion by 2016, with annual installation of 93,243 blades. The growth is driven by the Chinese market, which is stimulated by government incentives, rising demand and cheap raw material availability.

Europe is the most developed market for blade testing, with a number of existing test facilities. Blade production base has shifted from Europe to Asia-Pacific in the past few years, but the region has the lowest number of test facilities, the report adds.

(USD 1 = EUR 0.706)

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