The global wind turbine casting market revenue was US$ 1920.8 million in 2021. The global wind turbine casting market revenue is forecast to reach US$ 3605.6 million by 2030, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2022 to 2030.
Wind turbines are devices that help convert wind kinetic energy into power. In addition to the main shaft, rotor hub, mainframe, rotor blades, gearbox, generators, tower, rotor bearing, power converter, transformer, nacelle housing, and cables, wind turbines have several other parts. The most common parts that undergo casting are rotor hubs, axle pins, and main carriers.
Factors Influencing Market Growth
Globally, government policies that support renewable energy and reduce emissions contribute to the growth of the wind turbine casting market.
The rapid urbanization and increasing construction activities have increased the demand for electricity. As a result, wind energy is forecast to drive demand. As a result, the global wind turbine casting market is likely to grow.
Solar energy has grown significantly over the past few years as a renewable source of energy. Despite abundant sun rays and low prices of solar panels due to mass production, growth is likely to be slowed over the next few years.
Impact Analysis of COVID-19
Turbine makers were finding it increasingly difficult to obtain the parts they needed to build their machines, slowing progress on the global transition to renewable energy at precisely the time scientists say it has to accelerate. Manufacturers such as Vestas Wind Systems A/S and Siemens Gamesa Renewable Energy SA dealt with shutdowns at their factories and disruptions in supply after the Coronavirus spread worldwide. Several major ports, airports, and border crossings have experienced delays, halting deliveries of raw materials and components, including turbine blades. Thus, all these factors have negatively impacted the growth of the global wing turbine casting market.
Regional Insights
The Asia Pacific is forecast to dominate the global wind turbine casting market over the forecast period. Due to rapid urbanization and industrialization in the region, the energy demand has increased.
Over the forecast period, Europe is forecast to experience significant growth. The region has strict environmental requirements to reduce its carbon footprint. In addition, offshore wind facilities are forecast to increase the demand for wind turbine casting over the forecast period, mainly in Europe.
Leading Competitors
The leading prominent companies profiled in the global wind turbine casting market are:
SE FORGE Limited
Sinovel Wind Group Company
Vestas Wind Systems A/S
DHI-DCW Group Co., Limited
Xinjiang Goldwind Science & Technology Co., Limited
Suzlon Energy Limited
SHW Casting Technologies GmbH & Co. KG
Enercon GmbH
Premier Engineering & Equipment Mfg. Co
Global Castings Pvt. Limited
Riyue Heavy Industry Corporation Limited
Elyria Foundry Company, LLC
SAKANA Group
Other Prominent Players
Scope of the Report
The global wind turbine casting market segmentation focuses on Type, Application. and Region.
Segmentation based on Type
Horizontal axis
Vertical axis
Segmentation based on Application
Onshore
Offshore
Segmentation based on Region
North America
o The U.S.
o Canada
o Mexico
Europe
? Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
? Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
South America
o Brazil
o Argentina
o Rest of South America

Meta Title: Wind Turbine Casting Market Industry, Share, Trends and Forecast till 2030
Meta Description: The global wind turbine casting market revenue is forecast to reach US$ 3605.6 million by 2030, growing at a compound annual growth rate (CAGR) of 6.5% during the forecast period from 2022 to 2030.
Meta Keywords: Wind Turbine Casting Market, Wind Turbine Casting Market Share, Wind Turbine Casting Market Size, Wind Turbine Casting Market Trends, Wind Turbine Casting Market Insights, Wind Turbine Casting Market Forecast