New York, NY -- (SBWIRE) -- 08/08/2017 -- Long rotor blades witness significant demand as various operators are striving to enhance their energy output. In addition, modular blade design will witness significant traction as manufacturers are focusing on quality control and uniformity.

Factors Propelling Growth of Global Market
Imposition of government regulations and assistance will impact growth of the global wind turbine rotor blades market throughout 2025. Moreover, growing demand for generating wind power will further contribute towards growth of the global wind turbine rotor blades market during the predicted years. Growing need to deal with extreme climatic conditions on the offshore farms will rev up demand for foldable rotor blades over the forecast period. The wind turbine rotor blades market is likely to witness significant growth due to generation based incentives and feed-in-tariffs. The longstanding target adopted by Climate Change Conference of the Parties (COP21) will propel manufacturers to focus on wind energy. In contrast to this, increasing competition regarding solar panel technology will inhibit growth of the global wind turbine rotor blades market. Furthermore, growing concerns regarding wind project management will hinder growth of the global market in the forthcoming years.

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Glass Fiber to Remain a Leading Segment
Glass fibers segment among other blade materials will represent a revenue share of 95.5% and will outsell the carbon composites. The wind turbine rotor blades market will witness this trend, and is likely to continue during the predicted years. In addition, the 45-60 meter rotor blades will hold a revenue share of around 66%, and is likely to witness high demand through 2025, followed by above 60 meters segment. The 45 – 60 meter rotor blades will register a growth of 19.1% CAGR, and account for US$ 18.93 Mn in terms of revenue. The below 45 meters segment will account for 12.1% revenue share by the end of 2017. Onshore deployment among other applications, accounted for US$ 5.87 Bn in 2016. This segment will represent a revenue share of 96.2% throughout 2024.

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APAC to Represent Dominant Market
The offshore wind power installations are mainly focused in Europe. Countries including Taiwan, India, United States, China, South Korea, and Japan have accepted off-shore projects, development of which are in progress, and are likely to be operational in the upcoming years. The report compiled by Persistence Market research offers forecasts on Europe, Latin America, MEA, Asia Pacific and North America. China and India will represent the leading countries in APAC. The wind turbine rotor blades market in APAC will hold a significant share in the global wind turbine rotor blades market between the year 2017 and 2025. Denmark represented nearly 40% of the overall power generation, Ireland and Portugal accounted for 23% of the overall power generation, whereas Uruguay accounted for 19% of the global power generation. Wind power in South Australia represents nearly 40% of the overall power generation.

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Market Players
Leading companies operating in the global wind turbine rotor blades market include Siemens, LM Wind, Sinoma, TPI Composites, and CNBM.