Cumulative global revenue from wind turbine blades is expected to total $72.4bn between 2016 and 2025, according to a new report from Navigant Research.
The report – ‘Wind Turbine Blade Technology & Supply Chain Assessment’ – analyses 22 turbine manufacturers and 18 independent blade manufacturers to forecast capacity, revenue and installations out to 2025.
It said growth rates in the wind blade market from 2016 to 2025 are expected to be limited as “wind power has largely peaked and levelled out across the globe”.
The report identifies high growth areas as South Africa and Latin America, while China and US will grow before “decelerating” between 2019 and 2021 as “targets and policies are met”.
Image: Bureau Veritas
Blades to add up to $72.4bn
Navigant report projects high growth in South Africa and Latin America
By EBS