North America Rotor Blade Market Size (2024 - 2029)

The North American rotor blade market is poised for growth, driven by supportive government policies and private investments, despite challenges such as high transportation costs and competition from other clean energy sources. The market has rebounded to pre-pandemic levels, and advancements in rotor blade technology are anticipated to offer significant growth opportunities. The United States is expected to lead in the wind turbine rotor blade sector due to the rising demand for wind energy.

Home Market Analysis Energy & Power Research Power Equipment Research North America Rotor Blade Market Market Size

Market Size of North America Rotor Blade Industry

North America Rotor Blade Market Summary
Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR 6.00 %
Market Concentration Medium

Major Players

North America Rotor Blade Market Major Players

*Disclaimer: Major Players sorted in no particular order

North America Rotor Blade Market Analysis

The North American rotor blade market is expected to register a CAGR of over 6% during the forecast period.

  • The market was negatively impacted by COVID-19 in 2020. Currently, the market has reached pre-pandemic levels. Over the long term, supportive government policies and private investments drive the country's rotor blade demand.
  • On the flip side, 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, product innovation and adaptation of the latest rotor blade technologies are expected to create soon lucrative growth opportunities for the France rotor blade market. The United States is expected to dominate the wind turbine rotor blade market, with the increasing demand for wind energy in the country.

North America Rotor Blade Industry Segmentation

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.

North America's rotor blade market is segmented by location of deployment, blade material, and geography. 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. The report also covers the market size and forecasts for the wind turbine rotor blade market across the major countries in the region. 

For each segment, the market sizing and forecasts have been done based on revenue (USD billion).

Need A Different Region Or Segment?
Customize Now

North America Rotor Blade Market Size Summary

The North American rotor blade market is poised for significant growth, driven by supportive government policies and private investments that bolster demand for wind energy. The market has rebounded to pre-pandemic levels after the setbacks caused by COVID-19, with the United States expected to lead due to its increasing wind energy requirements. However, challenges such as high transportation costs and the competitive pricing of alternative clean energy sources like solar and hydropower could impede growth. Despite these challenges, advancements in rotor blade technology and product innovation are anticipated to offer lucrative opportunities, particularly as onshore wind energy technology continues to evolve, maximizing electricity production and expanding the viability of sites with lower wind speeds.

In Canada, the wind power sector is experiencing robust growth, with a significant increase in installed capacity and the development of large wind farms requiring taller and higher-capacity turbines. This trend is expected to drive demand for rotor blades in the region. The United States is also witnessing substantial growth in wind power generation, supported by government regulations and financial incentives. The offshore wind sector, in particular, is seen as a key area for development, with plans to deploy significant capacity by 2030. The market is characterized by fragmentation, with major players like TPI Composites, LM Wind Power, and Siemens Gamesa Renewable Energy actively contributing to the sector's expansion through innovations and new product launches.

Explore More

North America Rotor Blade Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD billion, till 2028

    3. 1.3 Recent Trends and Developments

    4. 1.4 Government Policies and Regulations

    5. 1.5 Market Dynamics

      1. 1.5.1 Drivers

      2. 1.5.2 Restraints

    6. 1.6 Supply Chain Analysis

    7. 1.7 Porter's Five Forces Analysis

      1. 1.7.1 Bargaining Power of Suppliers

      2. 1.7.2 Bargaining Power of Consumers

      3. 1.7.3 Threat of New Entrants

      4. 1.7.4 Threat of Substitute Products and Services

      5. 1.7.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Location of Deployment

      1. 2.1.1 Onshore

      2. 2.1.2 Offshore

    2. 2.2 Blade Material

      1. 2.2.1 Carbon Fiber

      2. 2.2.2 Glass Fiber

      3. 2.2.3 Other Blade Materials

    3. 2.3 Geography

      1. 2.3.1 United States

      2. 2.3.2 Canada

      3. 2.3.3 Mexico

North America Rotor Blade Market Size FAQs

The North America Rotor Blade Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)

TPI Composites SA, LM Wind Power (a GE Renewable Energy business), Siemens Gamesa Renewable Energy, S.A, Vestas Wind Systems A/S and Enercon GmbH are the major companies operating in the North America Rotor Blade Market.

North America Rotor Blade Report Snapshots

North America Rotor Blade Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)