Germany Rotor Blade Market - Growth, Trends, and Forecasts (2023-2028)

Germany's rotor blade market size is expected to register at a CAGR of about 5% during the forecast period.

The market was moderately impacted by COVID-19 in 2020. Presently, the market has reached pre-pandemic levels.

Key Highlights

• Over the medium term, the major driving factors of the market are increasing investments and upcoming projects to drive the market in Germany.
• On the flip side, the associated high cost of transportation and cost competitiveness of alternate clean power sources, like solar power, hydropower, etc., have the potential to hinder the market's growth.
• Nevertheless, product innovation and adaptation of the latest rotor blade technologies will likely create lucrative growth opportunities for the German rotor blade market in the forecast period.

Germany Rotor Blade Market Trends

Onshore to Dominate the Market

• Over the last five years, onshore wind power generation technology evolved to maximize electricity produced per megawatt capacity installed and to cover more sites with lower wind speeds. Besides this, in recent years, wind turbines have become more extensive with taller hub heights, broader diameters, and larger wind turbine blades.
• According to the German Wind Energy Association, as of 2021, Germany had the most considerable wind power installed capacity in Europe, around 58.05 GW. According to Fraunhofer Institute, in Germany, approximately 28,320 onshore and 484 offshore turbines were in operation as of 2021. By 2050, it is estimated to reach 260 GW to fulfill its climate commitments and renewable power capacity goals.
• Germany's onshore wind energy turbines registered 28,230 units in 2021, from 29,608 units in 2020. Even though there was a slight decrease in onshore wind turbines, onshore wind power made the most significant contribution of renewable sources to the German power mix in 2021.
• Further, according to WindEurope, onshore wind energy will lead the market demand in the European region to achieve net-zero carbon emissions by 2030. According to GWEC, onshore wind energy capacity takes around 90% of wind energy. The strict regulations to reduce carbon emissions and phase out conventional power systems are expected to drive the market.
• In June 2022, the German Parliament adopted a new Onshore Wind Law (WindLandG), which aims to expand onshore wind by a massive 10 GW a year from 2025. It's part of an 'Easter Package' of measures that also enshrines the principle that the expansion of renewables is a matter of overriding public interest.
• The WindLandG revises the expansion path and auction schedules for onshore wind in Germany. It aims to gradually increase annual onshore wind additions to more than 12 GW by 2025. After 2025 Germany plans to build 10 GW of new onshore wind each year. The law includes improvements to onshore wind permitting to allow for a sufficiently big pipeline of projects.
• Therefore, the growing demand for wind energy and the government's policies to increase onshore wind energy are expected to drive the segment in the coming years.

Increasing Investments and Upcoming Projects to Drive The Market

• The increasing investments in wind power projects have been providing a significant boost to the growth of the wind power sector, thus, increasing the demand for the wind turbine blade market globally.
• Wind power capacity in Germany has increased significantly since 2008, reaching a peak of 63,760 megawatts in 2021. This was an increase of almost 2.5% compared to the previous year. Onshore wind energy accounted for the majority of installations. In 2021, the combined capacity of wind farms on land reached 56,013 megawatts.
• In May 2021, RWE and BASF planned to invest USD 4.9 billion in offshore wind power projects. As part of the project, RWE intends to build a 2 GW offshore wind park by 2030. The project aims to supply energy to BASF's Ludwigshafen chemical complex.
• Also, in November 2021, Google signed up for 50 MW of wind power to be delivered from an offshore wind farm built by Danish energy giant Ørsted in the German North Sea. The 12-year corporate power purchase agreement (CPPA) will contribute to Google's commitment to operating all data centers with carbon-free energy by 2030.
• In November 2021, RWE announced plans to invest EUR 50 billion (USD 57 billion) by 2030. The investment aims to double its green energy to 50 gigawatts (GW). This is expected to create significant opportunities for the German rotor blade market during the forecast period.
• Therefore, increasing investments and upcoming projects are expected to drive the German rotor blade market during the forecast period.

Germany Rotor Blade Market Competitor Analysis

The German rotor blade market is moderately fragmented in nature. Some of the major players in the market (in no particular order) include Nordex SE, Siemens Gamesa Renewable Energy, SA, Vestas Wind Systems A/S, Suzlon Energy Limited, and Enercon GmbH.

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