Global Wind Turbine Composites Material Market – Global Industry and Forecast (2018-2026)
Global Wind Turbine Composites Material Market was valued at US$ 7.5 Bn in 2017, and is projected to reach US$ 15.4 Bn by 2026, at a CAGR of 9.41 % during the forecast period.
Global wind turbine composites material market is segmented by fiber, by manufacturing process, by application and by region. Based on type, wind turbine composites material market is segmented into glass and fiber. Vacuum Injection molding, prepreg, hand lay-up are manufacturing process segment of wind turbine composites material market. In terms of application, wind turbine composites material market is divided into blades and nacelles. Regionally, global wind turbine composites material market report covers the market for North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Enhanced strength and stiffness of structural parts of wind turbines, such as blades and nacelles is driving the growth of the wind turbine composite market. Increasing concerns about carbon emissions from fossil fuel have attracted the attention of the government, wind power is a cleaner and renewable sources of power. Wind energy installations have been increasing across the globe thereby increasing the wind turbine composites material market. Solar, hydro, nuclear energy as an alternative to wind energy restrain the wind turbine composites material market.
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Blades application segment held maximum share of the wind turbine composite market. Blades account for the highest share of composite consumption in their manufacturing. The use of composites in wind turbine blades provides long shelf life, less maintenance, resistance to corrosion, and high strength-to-weight ratio.
Glass fiber composites is expected to grow at the highest CAGR during the forecast. Good strength, chemical resistance, and good stiffness offered by glass fibers and their easy availability and cost effectiveness accelerates the demand for glass fiber composites.
Manufacturing of various parts of wind turbines, and supportive government initiatives such as favourable policies, wind power development programs, government regulations drives the wind turbine composites material market. Rising demand for lightweight and high strength materials used in the renewable energy, and adjusted feed in tariffs for land-based wind power installations. China leads in terms of wind installed capacity. In 2017, china accounted for the largest share of about 35% of the new global wind installed capacity.
Key players involved in the wind turbine composites material market are Suzlon Energy Limited (India) and AVIC Huiteng Windpower Equipment Co., Ltd., TPI Composites, Inc. (U.S.), MFG Wind (U.S.), LM Wind Power (Denmark), Gamesa Corporation Technology (Spain), Vestas Wind Systems A/S (Denmark), and Suzlon Energy Limited (India), among others.
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Scope of the Global Wind Turbine Composites Material Market
Global Wind Turbine Composites Material Market by Fiber:
• Glass Fiber
• Carbon Fiber
Global Wind Turbine Composites Material Market by Manufacturing Process:
• Vacuum Injection Molding
• Prepreg
• Hand Lay-Up
Global Wind Turbine Composites Material Market by Application:
• Blades
• Nacelles
Key Player analysed in Global Wind Turbine Composites Material Market:
• Suzlon Energy Limited
• AVIC Huiteng Windpower Equipment Co., Ltd.
• TPI Composites, Inc.
• MFG Wind
• LM Wind Power
• Gamesa Corporation Technology
• Vestas Wind Systems
• Suzlon Energy Limited
Browse Full Report with Facts and Figures of Wind Turbine Composites Material Market Report at: https://www.maximizemarketresearch.com/market-report/global-wind-turbine-composites-material-market/21286/
MAJOR TOC OF THE REPORT
Chapter One: Wind Turbine Composites Material Market Overview
Chapter Two: Manufacturers Profiles
Chapter Three: Global Wind Turbine Composites Material Market Competition, by Players
Chapter Four: Global Wind Turbine Composites Material Market Size by Regions
Chapter Five: North America Wind Turbine Composites Material Revenue by Countries
Chapter Six: Europe Wind Turbine Composites Material Revenue by Countries
Chapter Seven: Asia-Pacific Wind Turbine Composites Material Revenue by Countries
Chapter Eight: South America Wind Turbine Composites Material Revenue by Countries
Chapter Nine: Middle East and Africa Revenue Wind Turbine Composites Material by Countries
Chapter Ten: Global Wind Turbine Composites Material Market Segment by Type
Chapter Eleven: Global Wind Turbine Composites Material Market Segment by Application
Chapter Twelve: Global Wind Turbine Composites Material Market Size Forecast (2019-2026)
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