Market Size of China Wind Turbine Rotor Blade Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 9.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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China Wind Turbine Rotor Blade Market Analysis
China's wind turbine rotor blade market is projected to register a CAGR of over 9% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market reached pre-pandemic levels.
- Over the long term, the major driving factors are control of the supply chain and the presence of a strong domestic manufacturing industry.
- On the other hand, the associated high cost of transportation and cost competitiveness of alternate clean power sources, like solar power, hydropower, etc., have the potential to hinder the market's growth.
- Nevertheless, the wind power industry has been in demand for cost-effective solutions, and a highly efficient product has the potential to change the dynamics of the industry. There were instances where old turbines were replaced, not because of the damage but due to the availability of more efficient blades in the market. Hence, technological developments present themselves as opportunities for the wind turbine rotor blade market.
