You are here

China to lead wind rotor blade market for foreseeable future

BRIC country set to continue leading wind turbine rotor blades sector with market value to reach $3.7bn by 2020, report states

Chinese wind turbine
The GlobalData report states China came top in the 2012 wind rotor blades market. Image: Goldwind

China will remain the world’s leading rotor blade consumer over the coming years, according to a research report. The BRIC country is set to continue leading the wind turbine rotor blades sector, with market value expected to increase from almost USD 2bn in 2012 to USD 3.7bn by 2020.

The report from research and consulting firm GlobalData: Wind Turbine Rotor Blades – Global Market Size, Average Price, Competitive Landscape and Key Country Analysis to 2020, states China was the top wind rotor blade market in 2012, followed by the US and India.

China and the US installed 23,261 and 20,182 rotor blades, respectively, and together contributed to more than 65 per cent of global installations. India followed with 3,306 blades, contributing to 5 per cent of the total.

Harshavardhan Reddy Nagatham, analyst for GlobalData, said: “While European nations such as Denmark, Germany and Spain have been pioneers in this industry, a major shift to the Asia-Pacific region has occurred, particularly in China, India and Vietnam. This can be attributed to the availability of low-cost labour in the region, as well as government support for the local turbine and component manufacturing industry.

“Increasing levels of wind power generation have given the wind turbine and component manufacturing industry a significant boost over the past years, and have caused it to spread geographically,” he said. “We now expect the global wind power market to demonstrate further steady growth over the coming years, with annual turbine installations to increase from 48.3 GW in 2014 to 61.4 GW by 2020.”

The report states China has also become a major manufacturing hub of wind turbine rotor blades, contributing to a quarter of global production.

“Working within what is currently the largest wind power market in the world, China’s manufacturers, supported by government subsidies and favourable policies, produce approximately 25 per cent of the world’s rotor blades,” GlobalData said.