Emphasis on blade material (Carbon Fiber, Glass Fiber); Recycling Type (Pyrolysis, Thermo-chemical); and Region/Country
The Global Wind Turbine Blade Recycling Market was valued at USD 1.93 Billion in 2022 and is expected to grow a CAGR of 12.1% during the forecast period (2023-2030). The wind turbine blade recycling market refers to the industry that deals with the recycling and disposal of wind turbine blades. As wind energy becomes more popular as a renewable energy source, the number of decommissioned or damaged wind turbine blades is increasing. Proper recycling of these blades is crucial to minimize their environmental impact. Due to factors such as complex composition and dimensions, wind turbine blades cannot be easily disposed of in traditional waste management systems. This has led to the emergence of the wind turbine blade recycling market, which aims to address the challenge of recycling this large structure.
The demand for recycling wind turbine blades has increased in recent years due to the growth in wind power generation. As technology advances, existing wind turbines are going to be retired or replaced, which will generate a significant amount of waste. In 2019, the global offshore wind power installed capacity reached 29.1 GW. By 2050, it is estimated that 85 GW of this wind farm capacity will be decommissioned, resulting in 325,000 blades.
Siemens AG, Acconia S.A, Vestas Wind Systems, Gamesa Corporacion Technologica, EnBW, Nordex SE, MFG Wind, Enercon Gmbh, Hitachi Power Solutions, and Sinoma Wind Power Blade Co. Ltd are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst blade material, glass fiber category to witness higher CAGR during the forecast period.”
Based on the blade material, the wind turbine blade recycling market is bifurcated into carbon fiber and glass fiber. The glass fiber segment is expected to cater to significant demand in the projected years. Glass fiber has been a traditional choice for wind turbine blades due to its relatively lower cost compared to carbon fiber. It also offers good durability and has widely established recycling processes. These factors have contributed to glass fiber blades having a larger market share.
“Amongst recycling type, the pyrolysis segment to hold a significant share in the market in 2022.”
Based on recycling type, the wind turbine blade recycling market is categorized into pyrolysis and thermo-chemical. The pyrolysis segment holds a major share of this market. Pyrolysis is known for its ability to produce valuable by-products such as carbon fibers, while thermo-chemical processes have the potential to yield higher energy recovery rates.
“Europe to hold a considerable share in the market.”
Europe is expected to experience the highest share in the wind turbine blade recycling market. Europe has established a mature recycling infrastructure and industry. Many European countries are already experienced in managing waste and recycling materials. This existing infrastructure makes it easier for Europe to handle the recycling of wind turbine blades effectively. As a result, Europe faces a growing need for wind turbine blade recycling. Furthermore, the European Union has implemented strict regulations and targets for sustainable energy production, including wind power. These regulations emphasize the responsible and eco-friendly disposal of decommissioned wind turbine blades, fostering the growth of wind turbine recycling initiatives.
Wind Turbine Blade Recycling Market Report Coverage
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Wind Turbine Blade Recycling Market Revenue (usd Bn), 2020-2030f
6. Market Insights By Blade Material
7. Market Insights By Recycling Type
8. Market Insights By Region
9. Wind Turbine Blade Recycling Market Dynamics
10. Wind Turbine Blade Recycling Market Opportunities
11. Wind Turbine Blade Recycling Market Trends
12. Demand And Supply-side Analysis
13. Value Chain Analysis
14. Competitive Scenario
15. Company Profiled
16. Disclaimer
Research Methodology for the Wind Turbine Blade Recycling Market Analysis (2023-2030)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global wind turbine blade recycling market were the three major steps undertaken to create and analyze the adoption of Wind Turbine Blade Recycling in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global wind turbine blade recycling market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the wind turbine blade recycling market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the wind turbine blade recycling market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as blade material and recycling type. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the wind turbine blade recycling market. Further, we conducted factor analysis using dependent and independent variables such as the blade material and recycling type of wind turbine blade recycling. A thorough analysis was conducted of demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the Wind Turbine Blade Recycling market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global wind turbine blade recycling market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2030 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global blade material and recycling type market. Data was split into several segments & sub-segments after studying various parameters and trends in the areas of blade material and recycling type in the global wind turbine blade recycling market.
The main objective of the Global Wind Turbine Blade Recycling Market Study
The current & future market trends of the global Wind Turbine Blade Recycling market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
Q1: What is the current market size and growth potential of the global Wind Turbine Blade Recycling market?
Q2: What are the driving factors for the growth of the global wind turbine blade recycling Market?
Q3: Which segment has the largest share of the global Wind Turbine Blade Recycling market by Type?
Q4: What are the emerging technologies and trends in the global Wind Turbine Blade Recycling market?
Q5: Which region will dominate the global Wind Turbine Blade Recycling market?
Q6: Who are the key players operating in the global Wind Turbine Blade Recycling market?
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