Dublin, Dec. 13, 2023 (GLOBE NEWSWIRE) — The “Wind Turbine Castings – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
Global Wind Turbine Castings Market to Reach $3.4 Billion by 2030
The global market for Wind Turbine Castings estimated at US$2 Billion in the year 2022, is projected to reach a revised size of US$3.4 Billion by 2030, growing at a CAGR of 6.9% over the analysis period 2022-2030.
The analysis by type breaks down the Wind Turbine Castings market into categories, presenting a percentage breakdown of sales for Horizontal Axis and Vertical Axis turbine castings. It further delves into the market by application, highlighting the sales distribution between On-Shore and Off-Shore wind turbine castings.
Horizontal Axis segments is projected to record 6.8% CAGR and reach US$3.1 Billion by the end of the analysis period. Growth in the Vertical Axis segment is estimated at 8.5% CAGR for the next 8-year period.
This report provides a comprehensive analysis of the Wind Turbine Castings market in 2023, including insights into the global key competitors’ percentage market share. It evaluates the competitive market presence of players worldwide, categorizing them as strong, active, niche, or trivial. Additionally, the report offers an outlook on the global market prospects and examines the Wind Turbine Castings market through various lenses.
Regional analysis provides insights into the global market’s regional sales distribution, distinguishing between developed and developing regions. It ranks geographic regions by Compound Annual Growth Rate (CAGR) for sales in the Wind Turbine Castings market from 2022 to 2030, including China, Asia-Pacific, Latin America, Rest of World, USA, Canada, Europe, and Japan.
The report offers an introductory overview of Wind Energy, emphasizing its economic viability and importance in the renewable energy landscape. It provides insights into Wind Turbines, their design, and notable facts about wind energy and wind turbines. The report also addresses the decision-making process for building wind farms and offers an overview of Wind Turbine Casting, highlighting its role in the wind energy industry.
The U.S. Market is Estimated at $301.6 Million, While China is Forecast to Grow at 8.5% CAGR
The Wind Turbine Castings market in the U.S. is estimated at US$301.6 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$636 Million by the year 2030 trailing a CAGR of 8.5% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.4% and 6.3% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6.3% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 267 |
| Forecast Period | 2022 – 2030 |
| Estimated Market Value (USD) in 2022 | $2 Billion |
| Forecasted Market Value (USD) by 2030 | $3.4 Billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
MARKET TRENDS & DRIVERS
- Energy Sector: Pandemic Brings Numerous Challenges to Wind Energy Sector
- Global Energy Market Growth Outlook (In %) for Years 2019 through 2025
- Wind Industry Faces Supply Chain Challenges, but Remains Attractive
- Opportunities for the Power & Energy Sector in the Post-Pandemic Era
- Growing Focus on Renewable Energy: A Strong Growth Driver
- Leading Wind Power Countries Worldwide: Ranking Based on Key Wind Power Facts
- World Installed Base of Wind Energy (in Megawatts) by Geographic Region: 2018, 2021 & 2024
- Prominent Trends with Potential to Shape Wind Power Industry
- Wind Energy to Get Turbocharged & Scale Greater Heights with Futuristic Innovations
- Integrating Wind Energy in Power Grids to Meet Peak Demand
- Rising Investments in Expansion of Power Networks to Drive Growth
- Electricity Demand Patterns to Drive Growth
- Global Energy Consumption (Billion toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
- Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
- Rising Significance of Castings in Energy Production Chain Spurs Demand from Power Industry
- Global Energy Generation Mix (in %) for 2018 and 2050
- Targets for Electricity Production from Renewable Energy Sources in Select Countries
- Advent of Innovative Casting Technologies Propel Demand for Wind Energy Turbines
- A Peek into Wind Turbine Drivetrain Developments
- PU Infused Wind Turbine Blades: A Creative Solution
- Additive Manufacturing of Turbine Component Molds to Fashion New Path for the Industry
- Offshore Wind on a Growth Path
- Recent Developments in Wind Turbine Design – A Review
- Rapid Urbanization: A Mega Growth Driver for Wind Energy and Turbines
- Distributed Generation Offers Opportunities for Wind Systems
- World Distributed Generation Market by Geographic Region (2021 & 2027) – Annual Revenues in US$ Million for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa
- Distributed Wind Power Becoming a More Accessible Option for Farmers in the US
- US Distributed Wind Capacity Addition in MW for 2014-2021E
- Smart Cities & Smart Grids Elevate the Prospects for Wind Energy and Turbines
- Global Smart Grid Market (In US$ Billion) for Years 2021, 2023, 2025 and 2027
- Global Market for Smart Grids (in US$ Billion) for the Years 2020
- Challenges Facing the Turbine Castings Industry
FOCUS ON SELECT PLAYERS(Total 31 Featured)
- AEROVIDE GmbH
- ASK Chemicals Group
- Elyria Foundry Inc.
- Enercon GmbH
- RIYUE HEAVY INDUSTRY CO., LTD.
- Sakana Group
- Seforge
- SHW AG
- Silbitz Group GmbH
For more information about this report visit https://www.researchandmarkets.com/r/dxw1bg
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- Wind Turbine Castings Market
