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Middle East & Africa Wind Turbine Rotor Blade Market Forecast to 2030
Middle East & Africa Wind Turbine Rotor Blade Market Forecast to 2030 – Regional Analysis – by Type (Below 40m, 41-60m, 61-70m, and Above 70m) and Deployment Type (Onshore and Offshore)
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Description
Increasing Adoption of Recycling Technology Middle East & Africa Wind Turbine Rotor Blade Market.
Key players in the wind turbine blade industry continuously focus on developing innovative designs and materials for the turbine blade to increase overall efficiency. In the last two years, many public and private organizations have successfully developed recycled blade manufacturing processes. For instance, Siemens Games came up with the industry’s first recycled blade for offshore and onshore wind farms. Moreover, many private organizations have developed recycling processes for decommissioned wind turbine blades. Previously, the industry was unable to recycle wind turbine blades after decommissioning, owing to which the blades would end up in the trash, further increasing the need for waste management activities and the risk of environmental pollution. With these innovative recycling methods, blade materials can be recycled and repurposed in various sectors. For instance, Carbon Rivers developed a method for recovering clean, mechanically intact glass fiber from decommissioned wind turbine blades. These methods will help the wind turbines to become truly sustainable. Such initiatives are expected to reduce the overall impact generated by wind turbine blades, allowing energy companies to deploy a high number of offshore wind turbines without any risks of environmental pollution and the government’s stringent regulations or limitations.
Middle East & Africa Wind Turbine Rotor Blade Market Overview
The Middle East & Africa holds a large potential for generating wind energy owing to the abundant availability of wind resource. As per the GWEC report published in 2023, the Middle East & Africa is expected to add 17 GW of new wind power capacity by 2027. Among these, the 17 GW capacity additions from 2023 to 2027 will come from South Africa, 3.6 GW from Egypt, 2.4 GW from Saudi Arabia, and 2.2 GW from Morocco. The GWEC estimated the African continent alone has more than 59,000 GW of technical wind resource potential, which is quite enough to fulfill the continent’s energy demand by 250 times. However, the current installed wind power capacity in Africa only accounts for 0.01% of this potential. Thus, such huge potential of wind resources holds a lucrative opportunity for the country, which can help drive the wind turbine rotor blade market growth over the projected period.
Middle East & Africa Wind Turbine Rotor Blade Market Revenue and Forecast to 2030 (US$ Million)
Middle East & Africa Wind Turbine Rotor Blade Market Segmentation
The Middle East & Africa wind turbine rotor blade market is segmented based on type, deployment type, and country. Based on type, the Middle East & Africa wind turbine rotor blade market is segmented into Below 40m, 41-60m, 61-70m, and Above 70m . The Above 70m segment held the largest market share in 2022.
Based on deployment type, the Middle East & Africa wind turbine rotor blade market is bifurcated into onshore and offshore . The onshore held a larger market share in 2022.
Based on country, the Middle East & Africa wind turbine rotor blade market is segmented into Saudi Arabia, Egypt, South Africa, and the Rest of Middle East & Africa. South Africa dominated the Middle East & Africa wind turbine rotor blade market share in 2022.
TPI Composites Inc, Vestas Wind Systems AS, ENERCON GmbH, LM Wind Power AS, Siemens Gamesa Renewable Energy SA, Acciona SA, Suzlon Energy Ltd, Nordex SE, and Envision Energy USA Ltd are some of the leading companies operating in the Middle East & Africa wind turbine rotor blade market.
Summary Info
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According to the Research Team’ research, the Middle East & Africa wind turbine rotor blade market was valued at US$ 370.90 million in 2022 and is expected to reach US$ 871.09 million by 2030, registering a CAGR of 11.3% from 2022 to 2030. Increased energy consumption and trends of clean energy production and growing investments in offshore wind projects are among the critical factors attributed to the Middle East & Africa wind turbine rotor blade market expansion.
The demand for energy has rapidly increased since 2000 owing to factors such as industrialization, urbanization, increasing population, and technological developments. As per the IEA’s report, investment in renewable energy has been significantly boosted by the rebound from the COVID-19 pandemic-related downturn and the response to the global energy crisis. When comparing projections for 2023 with the data from 2021, annual investment in clean energy has increased far more quickly than that of fossil fuels throughout this time (24% vs. 15%). Global energy demand is increasing every day, resulting in an energy crisis and contamination of the environment due to carbon emissions. Energy derived from fossil fuels is unsustainable due to limited, depleting supply and the environmental impact. As a result, the trends of sustainable and clean energy production increased in the last few years.
In addition, as per the IREA (International Renewable Energy Agency), wind energy has developed rapidly since 2000, owing to R&D and reduction in developmental costs. Such factors have affected the development and installation of wind power positively. For instance, global onshore wind capacity increased from 178 GW in 2010 to 699 GW in 2020, whereas offshore wind capacity increased from 3.1 GW in 2010 to 34.4 GW in 2020. Moreover, during 2013-2022, wind energy continued to consolidate its dominance, attracting 32% of global renewable energy investments. Investments in offshore wind have picked up, attracting 8% of the total. Thus, with increased demand for electricity owing to growing population, urbanization, industrialization, and increased preferences for clean energy, the demand for onshore and offshore wind energy projects increased, ultimately driving the wind turbine blades market.
On the contrary, high cost of wind turbine installation and maintenance hurdles the growth of Middle East & Africa wind turbine rotor blade market.
Based on type, the Middle East & Africa wind turbine rotor blade market is categorized into Below 40m, 41-60m , 61-70m, and Above 70m . The Above 70m segment held 46.5% market share in 2022, amassing US$ 172.44 million. It is projected to garner US$ 490.79 million by 2030 to expand at 14.0% CAGR during 2022–2030.
Based on deployment type, the Middle East & Africa wind turbine rotor blade market is bifurcated into onshore and offshore. The onshore segment held 100.0% share of Middle East & Africa wind turbine rotor blade market in 2022, amassing US$ 370.90 million. It is projected to garner US$ 871.09 million by 2030 to expand at 11.3% CAGR during 2022–2030.
Based on country, the Middle East & Africa wind turbine rotor blade market has been categorized into Saudi Arabia, Egypt, South Africa, and the Rest of Middle East & Africa. Our regional analysis states that South Africa captured 40.0% share of Middle East & Africa wind turbine rotor blade market in 2022. It was assessed at US$ 148.36 million in 2022 and is likely to hit US$ 258.10 million by 2030, exhibiting a CAGR of 7.2% during 2022–2030.
Key players operating in the Middle East & Africa wind turbine rotor blade market are TPI Composites Inc, Vestas Wind Systems AS, ENERCON GmbH, LM Wind Power AS, Siemens Gamesa Renewable Energy SA, Acciona SA, Suzlon Energy Ltd, Nordex SE, and Envision Energy USA Ltd, among others.
In January 2023, Composites, Inc. (TPI) (Nasdaq: TPIC), a global company focused on innovative and sustainable solutions to decarbonize and electrify the world, announced that it has extended its supply agreements with GE Renewable Energy (GE) through 2025. GE and TPI also plan to work together on GE’s next generation blade types including the possibility of adding more production lines in 2023, in addition to the nine production lines GE has in operation with TPI.
In February 2023, Vestas presented a new solution that renders epoxy-based turbine blades circular without the need for changing the design or composition of blade material. Combining newly discovered chemical technology developed within the CETEC initiative and partnerships with Olin and Stena Recycling, the solution can be applied to blades currently in operation.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Middle East & Africa wind turbine rotor blade market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Middle East & Africa market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1. Introduction
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Middle East & Africa Wind Turbine Rotor Blade Market Landscape
4.1 Overview
4.2 Ecosystem Analysis
5. Middle East & Africa Wind Turbine Rotor Blade Market – Key Industry Dynamics
5.1 Wind Turbine Rotor Blade Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Increased Energy Consumption and Trends of Clean Energy
5.2.2 Government Initiatives to Boost Green Energy Production
5.2.3 Innovations in Wind Turbine Blade Designs
5.3 Market Restraints
5.3.1 High Cost of Wind Turbine Installation and Maintenance
5.4 Market Opportunities
5.4.1 Growing Investments in Offshore Wind Projects
5.5 Future Trends
5.5.1 Increasing Adoption of Recycling Technology
5.6 Impact of Drivers and Restraints:
6. Wind Turbine Rotor Blade Market – Middle East & Africa Market Analysis
6.1 Wind Turbine Rotor Blade Market Revenue (US$ Million), 2022 – 2030
6.2 Wind Turbine Rotor Blade Market Forecast and Analysis
7. Middle East & Africa Wind Turbine Rotor Blade Market Analysis -Type
7.1 Wind Turbine Rotor Blade Market, By Type (2022 and 2030)
7.2 Below 40m
7.2.1 Overview
7.2.2 Below 40m Market, Revenue and Forecast to 2030 (US$ Million)
7.3 41-60m
7.3.1 Overview
7.3.2 41-60m Market, Revenue and Forecast to 2030 (US$ Million)
7.4 61-70m
7.4.1 Overview
7.4.2 61-70m Market, Revenue and Forecast to 2030 (US$ Million)
7.5 Above 70m
7.5.1 Overview
7.5.2 Above 70m Market, Revenue and Forecast to 2030 (US$ Million)
8. Middle East & Africa Wind Turbine Rotor Blade Market Analysis – Deployment Type
8.1 Wind Turbine Rotor Blade Market, By Deployment Type (2022 and 2030)
8.2 Onshore
8.2.1 Overview
8.2.2 Onshore Market, Revenue and Forecast to 2030 (US$ Million)
8.3 Offshore
8.3.1 Overview
8.3.2 Offshore Market, Revenue and Forecast to 2030 (US$ Million)
9. Middle East & Africa Wind Turbine Rotor Blade Market – Country Analysis
9.1 Middle East & Africa
9.1.1 Middle East & Africa Wind Turbine Rotor Blade Market Overview
9.1.2 Middle East & Africa Wind Turbine Rotor Blade Market Revenue and Forecasts and Analysis – By Country
9.1.2.1 South Africa Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.1.1 South Africa Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.1.2 South Africa Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.2 Saudi Arabia Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.2.1 Saudi Arabia Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.2.2 Saudi Arabia Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.3 Egypt Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.3.1 Egypt Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.3.2 Egypt Wind Turbine Rotor Blade Market Breakdown by Deployment Type
9.1.2.4 Rest of MEA Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
9.1.2.4.1 Rest of MEA Wind Turbine Rotor Blade Market Breakdown by Type
9.1.2.4.2 Rest of MEA Wind Turbine Rotor Blade Market Breakdown by Deployment Type
10. Competitive Landscape
10.1 Heat Map Analysis by Key Players
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Product Development
11.4 Mergers & Acquisitions
12. Company Profiles
12.1 TPI Composites Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Vestas Wind Systems AS
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 ENERCON GmbH
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 LM Wind Power AS
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Siemens Gamesa Renewable Energy SA
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Acciona SA
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Suzlon Energy Ltd
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Nordex SE
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Envision Energy USA Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
13. Appendix
13.1 About the Research Team
LIST OF TABLES
Table 2. Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 4. Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Million) – Deployment Type
Table 5. South Africa Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 6. South Africa Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment Type
Table 7. Saudi Arabia Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 8. Saudi Arabia Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment Type
Table 9. Egypt Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 10. Egypt Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment Type
Table 11. Rest of MEA Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn) – By Type
Table 12. Rest of MEA Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn) – By Deployment Type
Table 13. Heat Map Analysis by Key Players
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LIST OF FIGURES
Figure 2. Ecosystem: Wind Turbine Rotor Blade Market
Figure 3. Impact Analysis of Drivers and Restraints
Figure 4. Wind Turbine Rotor Blade Market Revenue (US$ Million), 2022 – 2030
Figure 5. Wind Turbine Rotor Blade Market Share (%) – Type, 2022 and 2030
Figure 6. Below 40m Market Revenue and Forecasts to 2030 (US$ Million)
Figure 7 41.-60m Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8 61.-70m Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Above 70m Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Wind Turbine Rotor Blade Market Share (%) – Deployment Type, 2022 and 2030
Figure 11. Onshore Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Offshore Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Wind Turbine Rotor Blade Market, by Key Countries – Revenue (2022) (US$ Million)
Figure 14. Middle East & Africa Wind Turbine Rotor Blade Market Breakdown by Country (2022 and 2030)
Figure 15. South Africa Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 16. Saudi Arabia Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 17. Egypt Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 18. Rest of MEA Wind Turbine Rotor Blade Market Revenue and Forecasts to 2030 (US$ Mn)
1. TPI Composites Inc
2. Vestas Wind Systems AS
3. ENERCON GmbH
4. LM Wind Power AS
5. Siemens Gamesa Renewable Energy SA
6. Acciona SA
7. Suzlon Energy Ltd
8. Nordex SE
9. Envision Energy USA Ltd
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