Market Size of South America Rotor Blade Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 5.10 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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South America Rotor Blade Market Analysis
The South American rotor blade market is expected to register at a CAGR of about 5.1% during the forecast period.
The market was moderately impacted by COVID-19 in 2020. It has now reached pre-pandemic levels.
- Over the long term, the major driving factors of the market are expected to be the growing number of offshore and onshore wind energy installations across the region.
- On the flip side, the associated high cost of transportation and cost competitiveness of alternate clean power sources, like solar power, hydropower, etc., have the potential to hinder market growth.
- The wind power industry has been in demand for cost-effective solutions, and a highly efficient product can change the industry's dynamics. 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 are opportunities for the South American rotor blade market.
- Brazil is expected to dominate the rotor blade market, with growing wind power installations across the country.
