Wind Turbine Forging Market Forecast to Double by 2035 Amid Rising Demand for Durable Renewable Energy Components

The global wind turbine forging market is on course for a period of dynamic growth, with values expected to rise from USD 10.3 billion in 2025 to USD 20.8 billion in 2035, at a steady CAGR of 7.3%. This trajectory underscores the indispensable role that forged components play in wind energy infrastructure, ensuring turbine reliability and longevity even under the most demanding operational conditions.

Forged components such as shafts, rings, gears, and flanges are increasingly viewed as foundational assets in the renewable energy supply chain. As wind turbines scale up in size and global projects expand both onshore and offshore, the demand for stronger, more precise, and highly durable forged components continues to grow.

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Steady Growth Reflected in Contribution Index

The growth contribution index highlights consistent value creation across the forecast period. From USD 10.3 billion in 2025, the market is projected to advance to USD 12.7 billion by 2028, USD 14.7 billion by 2030, and USD 20.8 billion by 2035. This steady rise mirrors the industry's reliance on forging as a key enabler of structural integrity and operational safety in turbine assemblies.

Investments in forging capacity, specialized alloys, and advanced production techniques are expected to shape the competitive landscape, positioning forging as a cornerstone in renewable energy's long-term growth story.

Why the Wind Turbine Forging Market is Growing

Global investment in renewable energy infrastructure has set the stage for significant expansion in wind turbine forging. Larger turbines with higher capacity factors demand forged parts capable of handling extreme stress, while government policies supporting clean energy and cost reductions in wind generation are driving confidence among investors.

Offshore projects are a major catalyst, requiring heavy-duty forgings that deliver reliability and long service life. With nations accelerating their transition toward low-carbon energy systems, forged turbine components are increasingly recognized as strategic assets.

Market Insights: Leading Segments

The open die forging segment leads the market, accounting for 48.9% of revenue in 2025. Its ability to produce high-strength, large-scale components such as main shafts and flanges gives it a commanding edge. Similarly, forged gears are forecast to capture 43.2% of the market in 2025, reflecting their central role in transmitting mechanical power with precision and durability.

Steel alloys dominate the material segment, representing 56.7% of market share in 2025. Their toughness and fatigue resistance ensure long-term reliability, particularly in challenging offshore environments where corrosion resistance and structural integrity are vital.

Regional and Country-Level Growth

China leads the global market with a CAGR of 9.9%, followed by India at 9.1% and Germany at 8.4%. These regions benefit from large-scale renewable programs, cost-competitive manufacturing, and a focus on offshore wind. The United Kingdom, with a CAGR of 6.9%, is positioned as a hub for offshore development, while the United States records steady progress at 6.2%, supported by federal incentives and grid modernization initiatives.

Established Leaders and Emerging Manufacturers

The competitive landscape is defined by both established global leaders and agile emerging manufacturers. Bharat Forge and Larsen & Toubro are pushing the boundaries of scale and quality, supplying tower flanges and seamless rolled rings to international turbine makers. Thyssenkrupp and VDM Metals emphasize alloy innovation and fatigue resistance, while Forgital Group and Iraeta Energy Equipment focus on ultra-large rolled rings and hubs.

Meanwhile, Ellwood Group and Scot Forge bring strength through custom solutions and regional certifications, ensuring consistent trust in North America and Europe. In Asia, firms such as China First Heavy Industries, Dongfeng Forging, and Jiangsu Pacific Precision Forging are leveraging scale and cost competitiveness to expand their global footprint.

Emerging players like Bruck, Fountain Town Forge, and VIC Forgings are making strides by offering agility, shorter lead times, and niche component expertise. Together, these manufacturers are shaping a diverse market where innovation, reliability, and supply chain resilience define success.

Challenges and Opportunities

Despite the robust outlook, challenges persist. High production costs, raw material price fluctuations, and capacity constraints limit faster growth. Certification requirements across different regions add complexity for global suppliers, while competition from cast components presents a cost challenge in certain applications.

However, opportunities in offshore wind projects, repowering initiatives, and large-scale turbines continue to create openings for both established and emerging manufacturers. The growing trend toward regional localization of supply chains offers further potential, particularly in emerging markets with government-backed renewable energy programs.

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Future Outlook

The wind turbine forging market is positioned as a decisive contributor to renewable energy infrastructure. By accounting for approximately 67% of its parent markets-including forging, wind energy components, power generation equipment, and renewable infrastructure-the sector demonstrates its critical importance to global energy transitions.

Looking ahead, the industry's trajectory will be defined by investments in advanced forging technologies, regional manufacturing capabilities, and long-term partnerships with turbine makers. Manufacturers who align with these trends are set to play a central role in shaping a more resilient, low-carbon global energy future.

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