The turbine blade market is expected to grow at a good rate in the coming years. The demand for turbine blades is anticipated to rise owing to favorable environmental policies of different countries, and continuously declining cost of energy generation using renewable energy sources. As reservoirs of non-renewable energy sources are fast getting destroyed, more people feel the need for using renewable energy sources for energy generation. This induces the need for using a turbine blade.
This blade fatigue is triggered by the stress induced by resonance and vibration within the functioning range of machinery. Generally, friction dampers are used to prevent blades from fatigue and high dynamic stress. Blades used in water turbines and wind turbines are designed in such a way that they could operate in diverse conditions and also involves functioning at lower rotational speeds and lower temperatures.
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Furthermore, governments are focusing on usage of renewable sources, encouraging the people to use the same, and implementing favorable policies and regulations. These are the factors which are also expected to contribute to the growth of the turbine blade market. The high initial capital investment, local regulatory body hurdles, and use of exclusive and costly material in the manufacturing of blades might act as a restraint to the turbine blade market. Also, various factors such as the upcoming growth in the wind energy sector, increasing projects which involve turbine blades, and repowering of old projects are likely to provide good growth opportunities to the turbine blade market during the forecast period.
The turbine blade market is segmented on the basis of type, blade design, application, end-user, and region. On the basis of type, turbine blades are classified as moving blades and fixed blades. Based on blade design, the turbine blades market can be segmented into impulse turbine and reaction turbine. On the basis of application, the market is segmented into water turbines, gas turbines, steam turbines, and wind turbines.
On the basis of end-user, the market is segmented into aerospace, industrial, marine, automotive, and others. The turbine blade market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America on the basis of region. Furthermore, the regions are sub segmented into various countries such as the U.K., Germany, France, Italy, U.S., Canada, China, Japan, India, Saudi Arabia, South Africa, and Brazil. Emerging economies such as China and India are expected to show substantial growth during the forecast period.
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The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
