At 8.7% CAGR, Europe Wind Turbine Rotor Blade Markets Projected to be worth US$ 8,830.33 million by 2030, says Business Market Insights.

According to Business Market Insights’ research, the Europe wind turbine rotor blade market was valued at US$ 4,518.42 million in 2022 and is expected to reach US$ 8,830.33 million by 2030, registering a CAGR of 8.7% from 2022 to 2030. Growing investments in offshore wind projects and innovations in wind turbine blade designs are among the critical factors attributed to the Europe wind turbine rotor blade market expansion.             

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 2023, Octopus Energy, based in the UK, announced plans to invest US$ 20 billion in offshore wind by 2030. Also, EnBW, a German utility, announced a definitive commitment to construct its US$ 2.6 billion offshore wind farm. Such investments are expected to drive the adoption of offshore wind farms, ultimately generating lucrative opportunities for the wind turbine blade market. In addition, floating wind farms are gaining notable traction owing to their higher efficiency. In 2023, Equinor opened the largest floating wind farm in Norway, which has a capacity of 88 MW. Gruissan Floating Offshore Wind Farm, Les Moulins de Lohan Wind Farm, Dobele Wind Farm, Maasvlakte 2 Wind Farm, and Askio III Wind Farm are among the major wind farms anticipated to be active during 2023–2025.

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.

On the contrary, high cost of wind turbine installation and maintenance hurdles the growth of Europe wind turbine rotor blade market.

Based on type, the Europe wind turbine rotor blade market is categorized into Below 40m, 41-60m, 61-70m, and Above 70m. The Above 70m segment held 62.2% market share in 2022, amassing US$ 2,809.93 million. It is projected to garner US$ 5,625.23 million by 2030 to expand at 9.1% CAGR during 2022–2030.

In terms of deployment type, the Europe wind turbine rotor blade market is bifurcated into onshore and offshore. The onshore segment held 78.5% share of Europe wind turbine rotor blade market in 2022, amassing US$ 3,547.21 million. It is projected to garner US$ 6,345.87 million by 2030 to expand at 7.5% CAGR during 2022–2030.

Based on country, the Europe wind turbine rotor blade market has been categorized into France, Germany, Italy, the UK, Russia and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 48.7% share of Europe wind turbine rotor blade market in 2022. It was assessed at US$ 2,200.72 million in 2022 and is likely to hit US$ 3,941.02 million by 2030, exhibiting a CAGR of 7.6% during 2022–2030.            

Key players operating in the Europe wind turbine rotor blade market are 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, among others.

• In January 2020, The 107-meter blade has completed the molding process at the company's factory in Cherbourg, France. The LM 107.0 P will now proceed with post-molding finishing touches before undergoing rigorous testing and validation to demonstrate its ability to withstand more than 20 years of operation offshore. The 107-meter blade is set to capture the wind for GE’s Haliade-X 12 MW offshore wind turbine, the world’s most powerful wind turbine to date.

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