Market Size of Spain Rotor Blade Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 1.50 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Spain Rotor Blade Market Analysis
Spain's rotor blade market is expected to grow with a CAGR of around 1.5% during the forecast period. The COVID-19 pandemic affected the market negatively due to halts in wind power projects, and the lack of upcoming wind power projects in the year 2020. But the market saw the dawn again when the country witnessed the planning of new wind power projects in the year 2021-2022.
- Over the short term, the Spain rotor blade market is expected to bloom due to the government's efforts to promote wind power generation in the country.
- On the other hand, a fragile domestic rotor blade industry with very less indigenous manufacturers is expected to hamper the market growth.
- Nevertheless, the technological developments happening in the rotor blade industry create ample opportunities for the market. As an example, Deutsches Zentrum fur Luft-und Raumfahrt, an Aerospace Center in Europe, is currently working on a project to introduce larger and lighter rotor blades for the wind power industry.
