Commitment toward emission-free power industry by 2050 to drive market demand for turbine blades

It is widely accepted that producing electricity from wind is a reliable source of energy. Since wind turbines have improved in size, efficiency, and cost during the past 10 years, the world's wind power capacity has grown dramatically. Due to the fact that wind power projects require rotor blades, these variables will have a favorable effect on demand for them. The main components that transform working fluid pressure energy into kinetic energy are turbine blades. There are two primary types of turbine blades –

• Fixed blades.
• Moving blades.

Approximately half of the increase in electricity generated worldwide comes from wind energy, according to Transparency Market Research, which is a significant single source. For example, consider that wind energy accounted for approximately 40% of Denmark's overall power output, 23% of Ireland’s and Portugal’s, and 19% of Uruguay’s. Wind energy makes up to 40% of the total amount of power generated in South Australia.

The long-term goal set by the 186 nations who participated in the Paris Climate Change Conference of the Parties (COP21) is for the power industry to be 100% emission-free by 2050. This improves wind energy's standing since, combined with solar energy, it will supply a sizable share of renewable energy. The two countries that produce the most renewable energy are the US and China, Transparency Market Research states. Wind energy would play a significant part in assisting both countries in meeting their COP21 goals because it produces no emissions throughout the process of producing power. This factor is expected to significantly increase market demand for wind turbine rotors in the near future.

Rising demand for technological advancements in manufacturing and design of turbine blades for offshore conditions

Offshore wind energy production is an emerging technology that has only just begun to gain traction in several countries across the world. More technical breakthroughs are required in the design and manufacturing of the rotor blades that are needed for hostile offshore conditions. In Europe and around the globe, efforts are being made to decarbonise the economy by 2050, and offshore wind is one potential renewable energy source that is expected to significantly contribute to these efforts. Offshore wind power facilities are now mostly centred in Europe at present. Although several offshore projects have been authorised by countries including the US, Taiwan, Japan, India, South Korea, and China, they are now in the development stage and would likely come into operation soon.

India and China to remain at the forefront of global turbine blade market

One of the most important renewable energy sources for generating electricity in India is wind energy, which will likely play a significant role in the next 10 years in providing the general public with a reliable supply of clean energy. India had the fourth-highest operational wind power generation capacity in the world in the year 2021, with an overall installed capacity of 40.08 GW, as per the Ministry of New and Renewable Energy of India. The growth of the wind sector has given rise to a strong ecosystem, project operating skills, as well as a manufacturing base in the whole country that produces approximately 10 000 MW/y. The similar pattern is followed in China. In 2021, 47.5 GW of installed wind capacity was grid-connected, bringing the overall installed onshore wind capacity to 310.62 GW, as per the National Energy Administration (NEA). The onshore sector is anticipated to dominate the market in China and India due to increasing investments and changes in governmental policies.

The GWEC reports that with approximately 12.74 GW commissioned in 2021, the onshore wind industry in the US boasts the second-highest yearly new installations in the world. The anticipated phase-out of the Production Tax Credit (PTC), which directly benefits the market for onshore wind turbine rotor blades, was a major factor in the onshore wind installation in the US since project developers had to make their deadline.

The anticipated phase-out of the PTC, which required project developers to fulfil a deadline, was a major driving force for onshore wind installation in the US. This is expected to obviously benefit the market for onshore wind turbine rotor blades.

Furthermore, based on WindEurope, the market would stimulate demand for onshore wind energy in Europe to attain net zero carbon emissions by 2030. Approximately 90% of wind energy is used by onshore wind energy capacity, according to GWEC. The market is anticipated to be driven by stringent rules to decrease carbon emissions as well as phase out traditional power systems.

To find out more, head to https://www.transparencymarketresearch.com/turbine-blade-market.html

 

 

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global's Spring 2023 issue

The Spring 2023 issue of Energy Global hosts an array of technical articles focusing on offshore wind, solar technology, energy storage, green hydrogen, waste-to-energy, and more. This issue also features a regional report on commodity challenges facing Asia’s energy transition.

Read the article online at: https://www.energyglobal.com/special-reports/20042023/commitment-toward-emission-free-power-industry-by-2050-to-drive-market-demand-for-turbine-blades/