China will remain the leading global consumer of wind turbine rotor blades over the coming years, with its market value expected to increase from almost US$ 2 billion in 2012 to US$ 3.7 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 8.2%, according to a new report from research and consulting firm GlobalData.
The company’s latest report (Wind Turbine Rotor Blades – Global Market Size, Average Price, Competitive Landscape and Key Country Analysis to 2020) states that China boasted the top wind rotor blade market in 2012, followed by the USA and India. China and the USA installed 23,261 and 20,182 rotor blades, respectively, and together contributed to more than 65% of global installations. India followed with 3,306 blades, contributing to 5% of the total. China also proved to be a major manufacturing hub of wind turbine rotor blades. China’s manufacturers produce approximately 25% of the world’s rotor blades.
