At 3.5% CAGR, South & Central America Wind Turbine Rotor Blade Markets Projected to be Worth US$ 1391.13 Million by 2030, says Business Market Insights.

According to Business Market Insights’ research, the South & Central America wind turbine rotor blade market was valued at US$ 1,057.59 million in 2022 and is expected to reach US$ 1,391.13 million by 2030, registering a CAGR of 3.5% from 2022 to 2030. Increasing adoption of recycling technology is among the critical factors attributed to the South & Central America wind turbine rotor blade market expansion.             

Key players in the wind turbine blade industry continuously focus on developing innovative designs and materials for the turbine blade to increase overall efficiency. In the last two years, many public and private organizations have successfully developed recycled blade manufacturing processes. For instance, Siemens Gamesa came up with the industry's first recycled blade for offshore and onshore wind farms. Moreover, many private organizations have developed recycling processes for decommissioned wind turbine blades. Previously, the industry was unable to recycle wind turbine blades after decommissioning, owing to which the blades would end up in the trash, further increasing the need for waste management activities and the risk of environmental pollution. With these innovative recycling methods, blade materials can be recycled and repurposed in various sectors. For instance, Carbon Rivers developed a method for recovering clean, mechanically intact glass fiber from decommissioned wind turbine blades. These methods will help the wind turbines to become truly sustainable. Such initiatives are expected to reduce the overall impact generated by wind turbine blades, allowing energy companies to deploy a high number of offshore wind turbines without any risks of environmental pollution and the government's stringent regulations or limitations.

On the contrary, high cost of wind turbine installation and maintenance hurdles the growth of South & Central America wind turbine rotor blade market.

Based on type, the South & Central America wind turbine rotor blade market is categorized into Below 40m, 41-60m, 61-70m, and Above 70m. The Above 70m segment held 61.2% market share in 2022, amassing US$ 647.54 million. It is projected to garner US$ 860.61 million by 2030 to expand at 3.6% CAGR during 2022–2030.

Based on deployment type, the South & Central America wind turbine rotor blade market is bifurcated into onshore and offshore. The onshore segment held 100.0% share of South & Central America wind turbine rotor blade market in 2022, amassing US$ 1,057.59 million. It is projected to garner US$ 1,391.13 million by 2030 to expand at 3.5% CAGR during 2022–2030.

Based on country, the South & Central America wind turbine rotor blade market has been categorized into Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 80.4% share of South & Central America wind turbine rotor blade market in 2022. It was assessed at US$ 850.80 million in 2022 and is likely to hit US$ 872.05 million by 2030, exhibiting a CAGR of 0.3% during 2022–2030.            

Key players operating in the South & Central America wind turbine rotor blade market are Vestas Wind Systems AS, ENERCON GmbH, LM Wind Power AS, Siemens Gamesa Renewable Energy SA, Acciona SA, Suzlon Energy Ltd, Nordex SE, and Envision Energy USA Ltd, among others.

• In September 2022, ENERCON is adding a new top model to its product range. The new E-175 EP5 has a rotor diameter of 175 metres and a nominal power of 6 MW. The WEC is designed for low to medium wind sites (IEC wind class S). This new ENERCON flagship model will be presented for the first time at the Hamburg WindEnergy (27 to 30 September).

• In July 2023, ACCIONA Energía announced its participation in RenerCycle, an initiative to develop circular economy solutions for the wind energy sector, as one of the leading partners in the consortium. The main activities of RenerCycle will revolve around the repair and reconditioning of wind turbine components, as well as the promotion of new business lines to recycle metallic materials, composites from blades and nacelles, and organic materials.

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