The Wind Blade Market is expected to expand at a CAGR of XX%. The market growth is mainly driven by the growing energy consumption across globe. The key factor being addressing growing population base and requirement for energy at large infrastructural entities across regions. Additionally, Wind Blade Market is expected to be influenced by growing installations across Asia Pacific & European regions for having a cost-effective energy option. The key players in the market are also expanding there market reach in order to tap the global market. The high flexibility and adoption to the new technologies are also the major factors which is helping in the growing demand for Wind Blade.
On the basis of Installation Types, the Wind Blade Market is segmented as On-Shore & OffShore. Onshore wind is a recurrent energy source, as turbines cannot able to generate electricity on demand, but only when the wind is blowing at a sufficient strength. Onshore wind refers to turbines positioned on land, whereas offshore turbines are placed out at sea or in freshwater. Onshore wind and wind turbines have played a key role in the generation of renewable electricity in the China. Onshore wind turbines are comparatively less expensive than the offshore wind turbines. But the biggest disadvantage is that they don’t generate energy all the year because of often low wind speed or external physical blockages. Further, Noise pollution is also a restraining factor. On-Shore market holds the maximum share.
The Wind Blade Market by Blade length is segmented into <45.0m, 45.0 - 54.9m, 55.0 - 69.9m, >70.0m. Due to the growing demand and high efficiency tendency to have a higher blade length is gaining importance amongst manufacturers. Blade length greater than 70m is estimated to grow strongly in the coming years. The energy efficiency and installation cost continue to be a key challenge in the growth of Wind Blade Market.
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