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China to maintain dominance of wind blade market

China is to remain the leading global consumer of wind turbine blades, with its market value expected to hit $3.7bn in 2020 from last year’s figure of almost $2bn, according to new research.

A new report from research firm GlobalData found that China led the wind rotor blade market in 2012, followed by the US and India.

China and the US installed 23,261 and 20,182 rotor blades, respectively, and together contributed to more than 65 per cent of global installations. India followed with 3,306 blades, accounting for 5 per cent of the total.

GlobalData also found that Chinese manufacturers, supported by government subsidies and favorable policies, produced approximately 25 per cent of the world’s rotor blades in 2012.

GlobalData analyst Harshavardhan Reddy Nagatham said: “Increasing levels of wind power generation have given the wind turbine and component manufacturing industry a significant boost over the past years, and have caused it to spread geographically.

“We now expect the global wind power market to demonstrate further steady growth over the coming years, with annual turbine installations to increase from 48.3 GW in 2014 to 61.4 GW by 2020.

Nagatham added that “while European nations such as Denmark, Germany and Spain have been pioneers in this industry, a major shift to the Asia-Pacific region has occurred, particularly in China, India and Vietnam”.

“This can be attributed to the availability of low-cost labour in the region, as well as government support for the local turbine and component manufacturing industry.”

The Chinese government has set goals to generate 15 per cent of electricity from renewables and reduce CO2 emissions by up to 45 per cent by 2020.

Nagatham said that “with these goals in mind, the government decided that wind power was the most viable energy source among all alternative sources, leading to the country’s ongoing dominance in the wind turbine rotor blade market.”