Wind Turbine Casting Market - Size, Share and Forecast (2019-2026)

SKU: DEU79 | Last Updated On: 2019-08-02 | No. of Pages: 226 | Available Formats

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In February 2019, Siemens Gamesa has started producing the blades for the Formosa 1 Phase 2 offshore wind project in Taiwan.

Wind Turbine Casting Market Overview

Wind energy which utilizes kinetic energy from the wind and converts it into electrical power is one strong alternative to conventional energy sources. Rising environmental harm caused by alternate energy sources is gaining awareness across the end-users. As a result, heavy investments are being put into the new energy sources which are eco-friendly. Wind turbines are designed for a calculated lifespan of 20 years, which means that ideally, the machine is supposed to work without interruption throughout these 20 years.

As per Federal and State regulations in the US, Wind Turbines shall comply with all applicable local, state, and federal requirements, not limited to all applicable electrical, construction, noise, safety, environmental and communications and requirements.

The global wind turbine casting market size was worth USD XX billion in 2018 and is forecasted to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period.

Global Wind Turbine Casting Market Dynamics

Growing installations of wind energy plants combined with the rapid reduction of fossil fuels will drive the demand for wind turbines, which will increase the demand for wind turbine casting market. Adding to this, Increase in spending on energy from government and increasing demand for electricity are the major drivers for the market growth globally.

Favorable government policies like promoting the usage of renewable energy sources and the need for lowering carbon footprints and emissions are increasing worldwide. For instance, as per the ministry of renewable energy, the Indian government is providing financial incentives, and concessions such as 80% accelerated depreciation, concessional customs duty on specified items, excise duty exemption, sales tax exemption, income tax exemption for ten years. Also, the Indian Renewable Energy Development Agency (IREDA) is providing loans for setting up wind power projects which will fuel the growth of wind turbine casting market worldwide. Adding to this, By 2019, Britan government has installed wind power capacity of 20 gigawatts (GW), with offshore wind farms accounting for 8 GW. Offshore capacity will reach 30 GW by 2030 under the Britan government plan.

Huge investment is required for the manufacturing and installation of wind turbines is the major restraint hampering the growth of the market. Adding to this, the rising demand for energy from the Solar sector is the other significant factor hindering the market growth. Solar energy utilization rate has witnessed substantial growth over the past few years emerging as a potential threat to wind energy source. For instance, In 2018, the solar industry generated a USD 1 billion investment in the American economy. Abundant availability of solar radiation along with declining prices of solar panels on account of mass production is further expected to hinder the growth of the wind turbine casting market.

Global Wind Turbine Casting Market Segment Analysis

Based on the type, the wind turbine casting market is segmented into the horizontal axis and vertical axis. The global wind turbine casting market size was worth USD XX billion in 2018 and is forecasted to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period. Horizontal axis wind turbines are the most common type of use worldwide. Horizontal axis turbine dominates the majority of the wind industry and expected to continue the same in the forecast period due to high efficiency and power output compared to Vertical axis type turbines. Companies are focusing to produce a different type of ranges in power for the horizontal axis. For instance, Aeolos Wind Energy produces 1kw, 2kw, 3kw, 5kw, 10kw, 20kw, 30kw, 50kw horizontal axis wind turbines. Company has launched Aeolos-H 30kw – Permanent Magnet & Gearless Wind Turbine System in July 2017.

On the basis of application, wind turbine casting is segmented into onshore, offshore type and other. The offshore application is anticipated to emerge as the next fastest-growing segment owing to rising government supports and ambitious targets to developing the wind farms in the water bodies. The growing number of installations in offshore applications in countries, such as China, Japan, Germany, UK, Denmark, and the Netherlands is projected to drive market growth. For instance, There are currently c.5-6GW of offshore wind in the UK by 2019, with a further 4-5GW having secured development contracts.

Most of the Companies are focusing to manufacture offshore wind turbines worldwide. For instance, In July 2019, General Electric finished manufacturing the first nacelle for its new 12-megawatt offshore wind turbine, known as the Haliade-X, as the company pushes to establish itself as an offshore market rival to Siemens Gamesa and MHI Vestas. The application of the offshore wind turbine is still in a nascent stage of development and is facing some serious issues with having a feasible power grid connection and reducing maintenance cost.

Global Wind Turbine Casting Market Geographical Share

Global wind turbine castings market is segmented into five major regions including North America, Europe, Asia Pacific, South America, and the Middle East & Africa region. The Asia Pacific wind turbine casting market size was worth USD XX billion in 2018 and is expected to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period 2019 to 2026. Asia Pacific is anticipated to be the largest market share owing to the growing demand for electricity due to rapid industrialization and urbanization in the region during the forecasted period. Moreover, the growing requirement of energy concerning population expansion is anticipated to fuel growth in the region.

Increasing demand for electricity, especially in emerging economies such as China, India due to urbanization and rapidly increasing population is driving Asia Pacific region growth. For instance, As of March 2017, the requirement of electricity in India was 11,39,076 MU, while the availability was 11,31,088 MU, falling short by 7,988 MU. China is anticipated to emerge as the top wind energy power generating country over the forecast period owing to increasing installations and development. For instance, according to Chinese wind energy association, Grid-connected capacity increased to 164,000 MW with the addition of 15,030 MW installed in 2017.

The Europe wind turbine casting market size was worth USD XX billion in 2018 and is estimated to reach USD XX billion by 2026, at a CAGR of XX% during the forecast period. This region is anticipated to foresee the next highest significant growth owing to stringent environmental norms to reduce carbon footprints in the region. Also, the growing offshore installations, especially in countries such as the UK, Germany, Spain, Scotland and Sweden are expected to increase demand over the forecast period. For instance, In 2019, Scotland government has installed the biggest offshore wind farm and this is the fourth-largest wind farm on the planet. Beatrice Offshore Wind Farm is located 13 kilometres (8.1 miles) off the Caithness coast in the north of Scotland. Furthermore, According to the Global Wind Energy Council report 2018, Europe’s 15.8 GW of installed capacity at the end of 2017 accounted for 84% of the global total of 18.8 GW, with the rest of the world accounting for just 16%.

Global Wind Turbine Castings Market Competitive Analysis

Global wind turbine casting market is facing high competition within the industry as the companies are innovating their wind turbine technology to increase their efficiency. Some of the major players include Siemens Gamesa Renewable Energy, S.A., SEForge, Aeolos Wind Energy Limited, Vestas Wind Systems A/S, Sawtenergy, Goldwind, Enercon, Suzlon Energy Ltd, Global Spec, WIndside Production Ltd and MFG Wind.

Global wind turbine casting market competitiveness is enhancing with the rising installations of new wind turbine power plants globally.

For instance, on February 2019, Wind turbine maker Siemens Gamesa signed a USD 78.4 million contract with EPBiH to supply wind turbines for a 48-megawatt (MW) wind farm. Further, the company will supply 15 turbines and would build a wind park on Podvelezje plateau near the southern town of Mostar. It will also service the turbines for five years.

February 2019, Siemens GA completed the casting the initial turbine blades for the second phase of the 120MW Formosa 1 phase 2 project located Taiwan off the coast In.

 

Why Purchase the Report?

  • Visualize the composition of the global wind turbine casting in terms of various types of drugs and their applications highlighting the key commercial assets and players.
  • Identify commercial opportunities in the global wind turbine casting market by analyzing trends and co-development deals. 
  • Excel data sheet with thousands of data points of the global wind turbine casting market-level 4/5 segmentation.
  • A PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players.
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Target Audience
 
  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers
 

Wind Turbine Casting Market

  1. Global Wind Turbine Casting Market Methodology and Scope

    1. Research Methodology

    2. Research Objective and Scope of the Report

  2. Global Wind Turbine Casting Market – Key Trends & Developments

  3. Global Wind Turbine Casting Market – Executive Summary

    1. Market Snippet by Type

    2. Market Snippet by Application

    3. Market Snippet by Region

  4. Global Wind Turbine Casting Market – Market Dynamics

    1. Market Impacting Factors

      1. Drivers

        1. Rising spending on energy from government

        2. Increasing demand for electricity

      2. Restraints

        1. Huge investment required for the manufacturing and installation of wind turbines

        2. Increasing demand for solar energy

      3. Opportunities

      4. Impact Analysis

  5. Global Wind Turbine Casting Market – Industry Analysis

    1. Porter's Five Forces Analysis

    2. Supply Chain Analysis

    3. New Technology Developments

  6. Global Wind Turbine Casting Market – By Type

    1. Introduction

      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type

      2. Market Attractiveness Index, By Type

    2. Vertical Axis*

      1. Introduction

      2. Market Size Analysis, and Y-o-Y Growth Analysis (%)

    3. Horizontal Axis

  7. Global Wind Turbine Casting Market – By Application

    1. Introduction

      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application

      2. Market Attractiveness Index, By Application

    2. Onshore*

      1. Introduction

      2. Market Size Analysis, and Y-o-Y Growth Analysis (%)

    3. Offshore

  8. Global Wind Turbine Casting Market – By Region

    1. Introduction

      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region

      2. Market Attractiveness Index, By Region

    2. North America

      1. Introduction

      2. Key Region-Specific Dynamics

      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type

      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application

      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country

        1. U.S.

        2. Canada

        3. Mexico

    3. Europe

      1. Introduction

      2. Key Region-Specific Dynamics

      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type

      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application

      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country

        1. Germany

        2. U.K.

        3. France

        4. Italy

        5. Spain

        6. Rest of the Europe

    4. South America

      1. Introduction

      2. Key Region-Specific Dynamics

      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type

      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application

      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country

        1. Brazil

        2. Argentina

        3. Rest of South America

    5. Asia Pacific

      1. Introduction

      2. Key Region-Specific Dynamics

      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type

      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application

      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country

        1. China

        2. India

        3. Japan

        4. South East Asia

        5. Australia

        6. Rest of Asia Pacific

    6. Middle East and Africa

      1. Introduction

      2. Key Region-Specific Dynamics

      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type

      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application

  9. Global Wind Turbine Casting Market – Competitive Landscape

    1. Competitive Scenario

    2. Market Positioning/Share Analysis

    3. Mergers and Acquisitions Analysis

  10. Company Profiles

    1. Siemens Gamesa Renewable Energy, S.A.*

      1. Company Overview

      2. Product Portfolio and Description

      3. Key Highlights

      4. Financial Overview

    2. SEForge

    3. Aeolos Wind Energy Limited

    4. Vestas Wind Systems A/S

    5. Sawtenergy

    6. Goldwind

    7. Enercon

    8. Suzlon Energy Ltd

    9. Global Spec

    10. Windside Productin Ltd

    11. MFG Wind

  11. Global Wind Turbine Casting Market – DataM

    1. Appendix

    2. About Us and Services

    3. Contact Us

LIST OF TABLES:

Table 1 Global Wind Turbine Casting Market Value, By Type, 2018,2022 & 2026 (USD Million)

Table 2 Global Wind Turbine Casting Market Value, By Application, 2018,2022 & 2026 (USD Million)

Table 3 Global Wind Turbine Casting Market Value, By Region, 2018,2022 & 2026 (USD Million)

Table 4 Global Wind Turbine Casting Market Value, By Type, 2018,2022 & 2026 (USD Million)

Table 5 Global Wind Turbine Casting Market Value, By Type, 2017-2026 (USD Million)

Table 6 Global Wind Turbine Casting Market Value, By Application, 2018,2022 & 2026 (USD Million)

Table 7 Global Wind Turbine Casting Market Value, By Application, 2017-2026 (USD Million)

Table 8 Global Wind Turbine Casting Market Value, By Region, 2018,2022 & 2026 (USD Million)

Table 9 Global Wind Turbine Casting Market Value, By Region, 2017-2026 (USD Million)

Table 10 North America Wind Turbine Casting Market Value, By Type, 2017-2026 (USD Million)

Table 11 North America Wind Turbine Casting Market Value, By Application, 2017-2026 (USD Million)

Table 12 North America Wind Turbine Casting Market Value, By Country, 2017-2026 (USD Million)

Table 13 South America Wind Turbine Casting Market Value, By Type, 2017-2026 (USD Million)

Table 14 South America Wind Turbine Casting Market Value, By Application, 2017-2026 (USD Million)

Table 15 South America Wind Turbine Casting Market Value, By Country, 2017-2026 (USD Million)

Table 16 Europe Wind Turbine Casting Market Value, By Type, 2017-2026 (USD Million)

Table 17 Europe Wind Turbine Casting Market Value, By Application, 2017-2026 (USD Million)

Table 18 Europe Wind Turbine Casting Market Value, By Country, 2017-2026 (USD Million)

Table 19 Asia-Pacific Wind Turbine Casting Market Value, By Type, 2017-2026 (USD Million)

Table 20 Asia-Pacific Wind Turbine Casting Market Value, By Application, 2017-2026 (USD Million)

Table 21 Asia-Pacific Wind Turbine Casting Market Value, By Country, 2017-2026 (USD Million)

Table 22 Middle East & Africa Wind Turbine Casting Market Value, By Type, 2017-2026 (USD Million)

Table 23 Middle East & Africa Wind Turbine Casting Market Value, By Application, 2017-2026 (USD Million)

Table 24 Siemens Gamesa Renewable Energy, S.A.: Overview

Table 25 Siemens Gamesa Renewable Energy, S.A.: Product Portfolio

Table 26 Siemens Gamesa Renewable Energy, S.A.: Key Developments

Table 27 SEForge: Overview

Table 28 SEForge: Product Portfolio

Table 29 SEForge: Key Developments

Table 30 Aeolos Wind Energy Limited: Overview

Table 31 Aeolos Wind Energy Limited: Product Portfolio

Table 32 Aeolos Wind Energy Limited: Key Developments

Table 33 Vestas Wind Systems A/S: Overview

Table 34 Vestas Wind Systems A/S: Product Portfolio

Table 35 Vestas Wind Systems A/S: Key Developments

Table 36 Sawtenergy: Overview

Table 37 Sawtenergy: Product Portfolio

Table 38 Sawtenergy: Key Developments

Table 39 Goldwind: Overview

Table 40 Goldwind: Product Portfolio

Table 41 Goldwind: Key Developments

Table 42 Enercon: Overview

Table 43 Enercon: Product Portfolio

Table 44 Enercon: Key Developments

Table 45 Suzlon Energy Ltd: Overview

Table 46 Suzlon Energy Ltd: Product Portfolio

Table 47 Suzlon Energy Ltd: Key Developments

Table 48 Global Spec: Overview

Table 49 Global Spec: Product Portfolio

Table 50 Global Spec: Key Developments

Table 51 Windside Productin Ltd: Overview

Table 52 Windside Productin Ltd: Product Portfolio

Table 53 Windside Productin Ltd: Key Developments

Table 54 MFG Wind: Overview

Table 55 MFG Wind: Product Portfolio

Table 56 MFG Wind: Key Developments

LIST F FIGURES:

Figure 1 Global Wind Turbine Casting Market Share, By Type, 2018 & 2026 (%)

Figure 2 Global Wind Turbine Casting Market Share, By Application, 2018 & 2026 (%)

Figure 3 Global Wind Turbine Casting Market Share, By Region, 2018 & 2026 (%)

Figure 4 Global Wind Turbine Casting Market Value, 2017-2026 (USD Million)

Figure 5 Global Wind Turbine Casting Market Y-o-Y Growth, By Type, 2018-2026 (%)

Figure 6 Vertical Axis: Global Wind Turbine Casting Market Value, 2017-2026 (USD Million)

Figure 7 Horizantal Axis: Global Wind Turbine Casting Market Value, 2017-2026 (USD Million)

Figure 8 Global Wind Turbine Casting Market Y-o-Y Growth, By Application, 2018-2026 (%)

Figure 9 Onshore: Global Wind Turbine Casting Market Value, 2017-2026 (USD Million)

Figure 10 Offshore: Global Wind Turbine Casting Market Value, 2017-2026 (USD Million)

Figure 11 Global Wind Turbine Casting Market Y-o-Y Growth, By Region, 2018-2026 (%)

Figure 12 North America Wind Turbine Casting Market Value, 2017-2026 (USD Million)

Figure 13 North America Wind Turbine Casting Market Share, By Type, 2018 & 2026 (%)

Figure 14 North America Wind Turbine Casting Market Share, By Application, 2018 & 2026 (%)

Figure 15 North America Wind Turbine Casting Market Share, By Country, 2018 & 2026 (%)

Figure 16 South America Wind Turbine Casting Market Value, 2017-2026 (USD Million)

Figure 17 South America Wind Turbine Casting Market Share, By Type, 2018 & 2026 (%)

Figure 18 South America Wind Turbine Casting Market Share, By Application, 2018 & 2026 (%)

Figure 19 South America Wind Turbine Casting Market Share, By Country, 2018 & 2026 (%)

Figure 20 Europe Wind Turbine Casting Market Value, 2017-2026 (USD Million)

Figure 21 Europe Wind Turbine Casting Market Share, By Type, 2018 & 2026 (%)

Figure 22 Europe Wind Turbine Casting Market Share, By Application, 2018 & 2026 (%)

Figure 23 Europe Wind Turbine Casting Market Share, By Country, 2018 & 2026 (%)

Figure 24 Asia-Pacific Wind Turbine Casting Market Value, 2017-2026 (USD Million)

Figure 25 Asia-Pacific Wind Turbine Casting Market Share, By Type, 2018 & 2026 (%)

Figure 26 Asia-Pacific Wind Turbine Casting Market Share, By Application, 2018 & 2026 (%)

Figure 27 Asia-Pacific Wind Turbine Casting Market Share, By Country, 2018 & 2026 (%)

Figure 28 Middle East & Africa Wind Turbine Casting Market Value, 2017-2026 (USD Million)

Figure 29 Middle East & Africa Wind Turbine Casting Market Share, By Type, 2018 & 2026 (%)

Figure 30 Middle East & Africa Wind Turbine Casting Market Share, By Application, 2018 & 2026 (%)

Figure 31 Siemens Gamesa Renewable Energy, S.A.: Financials

Figure 32 SEForge: Financials

Figure 33 Aeolos Wind Energy Limited: Financials

Figure 34 Vestas Wind Systems A/S: Financials

Figure 35 Sawtenergy: Financials

Figure 36 Goldwind: Financials

Figure 37 Enercon: Financials

Figure 38 Suzlon Energy Ltd: Financials

Figure 49 Global Spec: Financials

Figure 40 Windside Productin Ltd: Financials

Figure 41 MFG Wind: Financials

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