Who are the key players in United Kingdom Rotor Blade Market?

Vestas Wind Systems A/S, Siemens Gamesa Renewable Energy S.A., Nordex SE, Orsted A/S and Vattenfall AB are the major companies operating in the United Kingdom Rotor Blade Market. Read More

What years does this United Kingdom Rotor Blade Market cover, and what was the market size in 2023?

In 2023, the United Kingdom Rotor Blade Market size was estimated at USD 0.88 billion. The report covers the United Kingdom Rotor Blade Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United Kingdom Rotor Blade Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029. Read More

United Kingdom Rotor Blade Market Size

Market Size of United Kingdom Rotor Blade Industry

United Kingdom Rotor Blade Market Summary

Study Period	2019 - 2029
Base Year For Estimation	2023
Market Size (2024)	USD 0.95 Billion
Market Size (2029)	USD 1.35 Billion
CAGR (2024 - 2029)	7.40 %
Market Concentration	Medium
Major Players *Disclaimer: Major Players sorted in no particular order

United Kingdom Rotor Blade Market Analysis

The United Kingdom Rotor Blade Market size is estimated at USD 0.95 billion in 2024, and is expected to reach USD 1.35 billion by 2029, growing at a CAGR of 7.40% during the forecast period (2024-2029).

• Over the medium term, the increasing number of offshore and onshore wind energy installations, the decreasing price of wind energy, and increased investments in the wind power sector are expected to drive the United Kingdom's rotor blade market during the forecast period.

• On the other hand, factors that include the high cost of transportation and the price competitiveness of alternative clean energy sources such as solar power, hydropower, and others could restrict market growth during the forecast period.

• Nevertheless, the wind power sector has been looking for economical options, and a highly efficient product has the potential to change the industry's dynamics. In some cases, old turbines had to be replaced not because of damage but because more efficient blades were available on the market. Thus, technological advancements eventually create an excellent chance for the rotor blade market.

United Kingdom Rotor Blade Industry Segmentation

Rotor blades are the key components of wind turbines, as they are in direct contact with high-speed winds. Rotor blades convert the wind's kinetic energy into rotational energy, which is later converted into electrical energy.

United Kingdom's rotor blade market is segmented by location of deployment and blade material. By location of deployment, the market is segmented into onshore and offshore. By blade material, the market is segmented by carbon fiber, glass fiber, and other blade materials. For each segment, the market sizing and forecasts were made based on revenue (USD).

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United Kingdom Rotor Blade Market Size Summary

The United Kingdom rotor blade market is poised for significant growth over the forecast period, driven by the increasing installation of offshore and onshore wind energy projects. The market is expected to expand as a result of decreasing wind energy costs and heightened investments in the wind power sector. Despite challenges such as high transportation costs and competition from alternative clean energy sources like solar and hydropower, technological advancements in rotor blade efficiency are anticipated to reshape the industry dynamics. The government's commitment to substantial renewable energy budgets, particularly for offshore wind projects, underscores the strategic focus on expanding wind energy capacity, which is expected to significantly boost the rotor blade market.

The UK's commitment to achieving net-zero carbon emissions by 2050, as part of the Paris Climate Accord, presents substantial opportunities for the wind energy sector. With a notable increase in installed wind energy capacity, the country is rapidly becoming a leader in wind power generation in Europe. Government initiatives, including significant investments and agreements with international partners, are set to enhance both offshore and onshore wind energy projects. These efforts are expected to drive the rotor blade market, supported by strategic partnerships and investments in renewable energy infrastructure. The market's growth is further bolstered by the involvement of key industry players and increased subsidies for wind farm projects, which collectively aim to meet the UK's ambitious energy and environmental targets.

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United Kingdom Rotor Blade Market Size - Table of Contents

1. MARKET OVERVIEW
1. 1.1 Introduction
2. 1.2 Market Size and Demand Forecast in USD billion, till 2029
3. 1.3 Recent Trends and Developments
4. 1.4 Government Policies and Regulations
5. 1.5 Market Dynamics
  1. 1.5.1 Drivers
    1. 1.5.1.1 Increasing Number of Offshore Wind Energy Installations
    2. 1.5.1.2 Increased Investments in the Wind Power Sector
  2. 1.5.2 Restraints
    1. 1.5.2.1 High Cost of Transportation
6. 1.6 Supply Chain Analysis
7. 1.7 Industry Attractiveness - Porter's Five Forces Analysis
  1. 1.7.1 Bargaining Power of Suppliers
  2. 1.7.2 Bargaining Power of Consumers
  3. 1.7.3 Threat of New Entrants
  4. 1.7.4 Threat of Substitutes Products and Services
  5. 1.7.5 Intensity of Competitive Rivalry
8. 1.8 Investment Analysis
2. MARKET SEGMENTATION
1. 2.1 By Location of Deployment
  1. 2.1.1 Onshore
  2. 2.1.2 Offshore
2. 2.2 By Blade Material
  1. 2.2.1 Carbon Fiber
  2. 2.2.2 Glass Fiber
  3. 2.2.3 Others

United Kingdom Rotor Blade Market Size FAQs

How big is the United Kingdom Rotor Blade Market?

The United Kingdom Rotor Blade Market size is expected to reach USD 0.95 billion in 2024 and grow at a CAGR of 7.40% to reach USD 1.35 billion by 2029.