Market Size of China Wind Turbine Rotor Blade Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 9.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
China Wind Turbine Rotor Blade Market Analysis
China's wind turbine rotor blade market is projected to register a CAGR of over 9% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market reached pre-pandemic levels.
- Over the long term, the major driving factors are control of the supply chain and the presence of a strong domestic manufacturing industry.
- On the other hand, the associated high cost of transportation and cost competitiveness of alternate clean power sources, like solar power, hydropower, etc., have the potential to hinder the market's growth.
- Nevertheless, the wind power industry has been in demand for cost-effective solutions, and a highly efficient product has the potential to change the dynamics of the industry. There were instances where old turbines were replaced, not because of the damage but due to the availability of more efficient blades in the market. Hence, technological developments present themselves as opportunities for the wind turbine rotor blade market.
China Wind Turbine Rotor Blade Industry Segmentation
Wind turbine rotor blades are the key components of wind turbines, as they are in direct contact with high-speed winds. Rotor blades convert the wind's kinetic energy into rotational energy, which is later converted into electrical energy.
China's wind turbine rotor blade market is segmented by location of deployment and blade material. By location of deployment, the market is segmented into onshore and offshore; by blade material, the market is segmented by carbon fiber, glass fiber, and other blade materials. For each segment, the market sizing and forecasts have been done based on revenue (USD Billion).
| Location of Deployement | |
| Onshore | |
| Offshore |
| Blade Material | |
| Carbon Fiber | |
| Glass Fiber | |
| Other Blade Materials |
China Wind Turbine Rotor Blade Market Size Summary
The China wind turbine rotor blade market is experiencing significant growth, driven by a robust domestic manufacturing industry and strategic control of the supply chain. The market has rebounded to pre-pandemic levels after the initial setbacks caused by COVID-19. Despite challenges such as high transportation costs and competition from alternative clean energy sources like solar and hydropower, the demand for cost-effective and efficient wind power solutions continues to rise. Technological advancements in wind turbine design, including larger and more efficient blades, are creating opportunities for market expansion. The Chinese government's commitment to renewable energy, evidenced by substantial investments and policy support, is further propelling the market forward.
China's position as a global leader in renewable energy is bolstered by its extensive investments in research and development, technology transfer agreements, and incentives for domestic innovation. The country's strategic geopolitical maneuvers have strengthened its supply chain, ensuring access to affordable raw materials for wind energy hardware production. This has resulted in some of the lowest prices for wind energy components globally, driving domestic demand. The competitive landscape in China is marked by fierce domestic competition, which has led to significant price reductions and technological innovations in wind turbine technology. Major players in the market, such as Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd and Sinoma Wind Power Blade Co. Ltd, are at the forefront of these developments, contributing to the market's growth trajectory.
China Wind Turbine Rotor Blade Market Size - Table of Contents
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1. MARKET OVERVIEW
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1.1 Introduction
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1.2 Market Size and Demand Forecast in USD billion, till 2027
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1.3 Recent Trends and Developments
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1.4 Government Policies and Regulations
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1.5 Market Dynamics
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1.5.1 Drivers
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1.5.2 Restraints
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1.6 Supply Chain Analysis
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1.7 PESTLE Analysis
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2. MARKET SEGMENTATION
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2.1 Location of Deployement
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2.1.1 Onshore
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2.1.2 Offshore
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2.2 Blade Material
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2.2.1 Carbon Fiber
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2.2.2 Glass Fiber
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2.2.3 Other Blade Materials
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China Wind Turbine Rotor Blade Market Size FAQs
What is the current China Wind Turbine Rotor Blade Market size?
The China Wind Turbine Rotor Blade Market is projected to register a CAGR of greater than 9% during the forecast period (2024-2029)
Who are the key players in China Wind Turbine Rotor Blade Market?
Lianyungang Zhongfu Lianzhong Composites Group Co. Ltd, Sinoma wind power blade Co. Ltd, Zhuzhou Times New Material Technology Co., Ltd, Tianshun Wind Energy (Suzhou) Co., Ltd. and Swancor Advanced Materials Co., Ltd. are the major companies operating in the China Wind Turbine Rotor Blade Market.
