Surge In Renewable Energy Demand Fuels Wind Turbine Casting Market: A Key Driver Powering Wind Turbine Casting Market Growth In 2025

The Wind Turbine Casting Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Wind Turbine Casting Market?
In the past few years, the wind turbine casting market has experienced robust growth. The market is projected to expand from $2.31 billion in 2024 to $2.46 billion in 2025, growing at a compound annual growth rate (CAGR) of 6.6%. The surge in growth during the historic period is due to factors like a global shift towards renewable energy, government schemes and incentives, concerns about energy security, heightened environmental awareness, and a decrease in the costs of wind energy.

Anticipated robust growth in the wind turbine casting market will likely increase its worth to $3.35 billion by 2029, with a compound annual growth rate (CAGR) of 8.0%. Factors such as the expansion of offshore wind farms, grid integration and storage developments, favorable wind energy policies, worldwide electrification tendencies, and the rise in wind turbine heights are all expected to contribute to growth during this forecast period. Dominant trends projected for this period involve the integration of 3D printing technology, the usage of multiple materials in castings, design enhancements and innovations, collaborations and strategic partnerships, and considerations of lifecycle cost.

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What Are the Different Wind Turbine Casting Market Segments?
The wind turbine casting market covered in this report is segmented -

1) By Type: Horizontal Axis, Vertical Axis
2) By Material: Copper, Glass-Reinforced Plastic, Concrete
3) By Application: Onshore, Offshore
4) By End-User: Industrial, Commercial, Residential

Subsegments:
1) By Horizontal Axis: Onshore Horizontal Axis Turbines, Offshore Horizontal Axis Turbines
2) By Vertical Axis: Darrieus Vertical Axis Turbines, Savonius Vertical Axis Turbines

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What Are the Primary Drivers Shaping the Wind Turbine Casting Market?
The burgeoning interest in renewable energy is anticipated to spur the expansion of the wind turbine casting market. Renewable energy, sourced from naturally regenerating sources that replenish faster than they are exhausted, is gaining traction due to its capacity to lessen pollutants and greenhouse gas emissions, both significant factors contributing to climate change. Wind turbine casting technology is pivotal in the renewable energy sector, aiding in the reduction of harmful fossil fuels and nuclear power usage. For instance, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, reported in January 2023 that power generated from solar photovoltaic systems hit a record 270 TWh in 2022, marking a 26% increase from 2021. Solar PV holds the third rank in renewable electricity technology, following wind and hydropower, and is responsible for producing 4.5% of the global total electricity. Consequently, this escalating demand for renewable energy is likely to propel the growth of the wind turbine casting market.

Which Companies Are Leading in the Wind Turbine Casting Market?
Major companies operating in the wind turbine casting market include 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 Major Trends Shaping the Wind Turbine Casting Market?
Technological progression is becoming a prevalent trend in the wind turbine casting industry. To maintain their dominance, leading businesses in this market are focusing on product innovation. Take for example Mingyang Smart Energy, a China-based wind turbine producer, who in January 2024, introduced a new product named MySE 18.X-20 MW wind turbine. This turbine has adaptable power ratings from 18.X to 20 MW and rotor diameters spanning 260 to 292 meters (about 853 to 958 feet), enabling it to sweep an area equivalent to nine soccer fields. The MySE 18.X-20 MW can generate an outstanding 80 million kWh annually, enough to supply approximately 96,000 households. Furthermore, the turbine can significantly decrease carbon emissions by about 66,000 tonnes annually, making a valuable contribution to the worldwide sustainability initiatives.

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What Are the Top Revenue-Generating Geographies in the Wind Turbine Casting Market?
Asia-Pacific was the largest region in the wind turbine casting market in 2024. The regions covered in the wind turbine casting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Wind Turbine Casting Market?
2. What is the CAGR expected in the Wind Turbine Casting Market?
3. What Are the Key Innovations Transforming the Wind Turbine Casting Industry?
4. Which Region Is Leading the Wind Turbine Casting Market?

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