Global Wind Turbine Blade Market Insights 2019 Report: Industry Analysis Report

1. Market Research Future Published Research Report on “Global Wind Turbine Blade Market Research Report - Forecast to 2027. Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2027. Siemens AG, General Electric, Vestas Wind Systems A/S, Enercon GMBH, Suzlon Energy Limited, Acciona, S.A., Nordex SE, SINOI GmbH, EWT B.V., and Rotoby are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the global wind turbine blade market. Wind Turbine Blade Global Market – Overview Generation of electricity from wind is now firmly established as a mainstream source for power generation. Capacity of wind power has significantly increased across the world, as wind turbines have become more powerful, efficient and affordable for power producers in the last decade. These factors will create a positive impact on the demand for wind turbine blades, as they are an essential component in wind power projects. Wind energy is a relatively large single source (around 50%) of all increase in electricity generation globally. To give an example of the importance and growing clout of wind energy, wind energy accounted for around 40% of Denmark’s total power generation, 23% of Portugal and Ireland, and 19% of Uruguay. In South Australia, wind power contributes to around 40% of the total power generation. As per the study conducted by Market Research Future, the global market for wind turbine blade is likely to grow at the CAGR of around 10%. The wind turbine blade market is driven by policy support from governments and reducing costs of wind power generation. Governments across the world have been pushing to include more renewable power to their energy mix, an approach that is driving many new wind power projects, generating demand for wind turbine blades. The declining cost per kWh of generating power from wind is making it the most attractive renewable energy option. However, high capital costs for such projects may act as a restraint for the market, along with the use of expensive raw material required for manufacturing larger blades. Future growth projections for the wind energy sector are very promising, indicating opportunities for in the turbine blade market. However, the market is required to handle critical challenges such as difficulty in transportation to fully capitalize on potential opportunities. Technological innovation since the last decade has created significant improvements in terms of wind power generation, but this innovation has

2. come at the cost of increasing the length of wind turbine blades. Hence, the limits related to maximum operable length may put on hold new installations, due to problems associated with transportation and on-site installation of large blades. However, on the other hand, solar panels are shrinking in size, due to improvements in their technological efficiency. Being an important source of renewable energy with no moving parts and no noise pollution, solar panels may pose a threat to the wind turbine blade market on a large scale. The global wind turbine blade market is regionally divided into Europe, Asia Pacific, North America, and Rest of the World. At present, The Asia Pacific market for wind turbine rotor blade is anticipated to flourish owing to increasing demand for electricity in developing countries such as India and China and growing government initiatives encouraging the production of wind energy. Europe is likely to emerge as one of the most lucrative markets during the forecast period. The demand for wind turbine rotor blades is estimated to increase, particularly in Western Europe, owing to the high acceptance of technologically advanced turbines and presence of conducive environmental conditions. Industry News In September, 2017 –Vestas Wind Systems A/S said it’s working with Tesla Inc. to figure out how to combine wind turbines and batteries, socking away power during breezy times to use when the air is still. This work is part of a wider global program run by Vestas, the world’s biggest wind-turbine maker. In April, 2017 – Siemens concluded the merger of its wind power business with Gamesa on schedule. Siemens Wind Power and Gamesa will form a world- leading wind power provider, with an unrivalled global presence and an excellent position in an attractive growth market. The two companies complement one another almost perfectly and boast a unique product portfolio. In April, 2017 – Renewable energy solution provider Suzlon Group today said it has bagged fifth order from ReNew Power Ventures for its 100.80 MW wind power project. Suzlon will install 48 units of their latest S111 120m wind turbine generators (WTG) with a capacity of 2.1 MW in ReNew Power’s Limbwas project in Madhya Pradesh, India. In April, 2016 – ACCIONA Windpower and Nordex complete merger to create new wind industry leader. The integration of AWP into Nordex will create a

3. new, globally positioned European powerhouse in the wind industry with manufacturing facilities in Germany, Spain, Brazil, the United States and soon India. The two companies generated combined sales of €3.4 billion in 2015 and have 4,800 employees