Press release
Global Wind Turbine Casting Market 2025: A Robust Growth Forecast and Emerging Trends
Wind Turbine Casting Market Share 2025
What Is The Projected Market Size Of The Global Wind Turbine Casting Market Report 2025 And Its Growth Rate?
• The wind turbine casting market size has grown strongly in recent years.
• It is set to grow from $2.31 billion in 2024 to $2.46 billion in 2025 at a compound annual growth rate (CAGR) of 6.6%.
• The forecast for future growth is robust, with the market expected to reach $3.35 billion in 2029 at a compound annual growth rate (CAGR) of 8.0%.
• The forecasted growth can be attributed to factors such as offshore wind farm expansion, grid integration and storage, supportive policies for wind energy, global electrification trends, and increasing wind turbine heights.
What Is Driving The Growth In The Wind Turbine Casting Market Report 2025?
The growing demand for renewable energy is key to boosting the growth of the wind turbine casting market. As renewable energy reduces pollutants and greenhouse gas emissions, it contributes to minimizing climate change impacts. Wind turbine casting technology aids renewable energy access, reducing reliance on fossil fuels and dangerous nuclear power. For instance, in 2022, power generation from solar photovoltaic systems hit a record 270 TWh, up 26% from 2021, according to the France-based autonomous intergovernmental organization, International Energy Agency (IEA). Thus, the rising demand for renewable energy is expected to fuel the wind turbine casting market's growth.
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Who Are The Key Players Driving Wind Turbine Casting Market Growth?
• Hitachi Ltd.
• General Electric Company
• Vestas Wind Systems A/S
• Dongfang Electric Corporation
• Nordex SE
• Goldwind Science & Technology Co Ltd.
• Suzlon Energy Limited
• Mingyang Smart Energy Group Co Ltd.
• Zhejiang Windey Co Ltd.
• TPI Composites Inc.
• Juwi Holding AG
• China Ming Yang Wind Power Group Limited
• SHW Casting Technologies GmbH & Co
• Sinovel Wind Group Co Ltd.
• Enercon GmbH
• SimplexCC Ltd.
• Emergya Wind Technologies B.V.
• DHI DCW Group Co Ltd.
• Global Castings Pvt Ltd.
• Elyria Foundry Company LLC
• SE Forge Limited
• Envision Energy
• China National Machinery Import & Export Corporation (CMC)
• Premier Heavy Engineering Ltd.
• SAKANA Group
• AEROVIDE GmbH
• Shandong Longma Heavy Industry Group Co Ltd.
• CSIC Haizhuang Windpower Equipment Co Ltd.
• Zhonghang Hui Teng Renewable Resources Co Ltd.
• Mitsubishi Power Ltd.
• Hangzhou Steam Turbine & Power Group Co Ltd.
• XEMC Windpower Co Ltd.
• Hyosung Heavy Industries
• ZF Friedrichshafen AG
• Senvion S.A.
What Are The Key Trends In The Wind Turbine Casting Market Report 2025?
• Integration of 3D printing technology
• Multi-material castings
• Design optimization and innovation
• Collaborations and partnerships
• Lifecycle cost considerations
What Are The Segments Of The Global Wind Turbine Casting Market Report 2025?
• By Type: Horizontal Axis, Vertical Axis
• By Material: Copper, Glass-Reinforced Plastic, Concrete
• By Application: Onshore, Offshore
• By End-User: Industrial, Commercial, Residential
Which Region Leads The Wind Turbine Casting Market Report 2025?
The largest region in the wind turbine casting market in 2024 was Asia-Pacific. The markets covered in the wind turbine casting market report span Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Wind Turbine Casting Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Wind Turbine Casting Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Wind Turbine Casting Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Wind Turbine Casting Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Wind Turbine Casting Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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