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Wind Turbine Casting Global Market Report 2022: Ukraine-Russia War Impact

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    Report

  • 175 Pages
  • December 2022
  • Region: Global
  • The Business Research Company
  • ID: 5709796
Major players in the wind turbine casting market are Suzlon Energy Limited, Sinovel Wind Group Co Ltd, Mingyang Smart Energy Group Co Ltd, Vestas Co, DHI DCW Group Co Ltd, Premier Heavy Engineering Ltd, Goldwind, Enercon, SHW Casting Technologies GmbH & Co, Mingyang Smart Energy Group Co., Ltd., Global Castings, SEFORGE, SAKANA Group, Elyria Foundry Company, Juwi Holding AG, SIMPLEX, AEROVIDE GmbH, and Shandong Longma.

The global wind turbine casting market is expected to grow from $1.85 billion in 2021 to $2.00 billion in 2022 at a compound annual growth rate (CAGR) of 7.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The wind turbine casting market is expected to reach $2.47 billion in 2026 at a CAGR of 5.4%.

The wind turbines casting market consists of sales of rotor hubs, axle pins, blades, generator, shaft machine, and hydraulics system. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Wind turbines casting refers to components that are cast or moulded according to specifications and then assembled to construct wind energy systems. It is designed to capture the air that flows through them in a small pocket of air, pulling the blade down and causing it to revolve.

Asia-Pacific was the largest region in the wind turbine casting market in 2021. The regions covered in the wind turbine casting market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified).

The revenues for a specified geography are consumption values - that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products.

The main types of wind turbine casting are horizontal axis and vertical axis. The horizontal axis refers to an axis that is parallel to the ground and is flat and parallel to it. The horizontal axis is utilised in wind turbines casting to create greater power while using less energy, making them excellent for usage in large wind power plants and electricity production. The different materials include copper, glass-reinforced plastic, and concrete, that are applied in onshore and offshore applications. The several end users include industrial, commercial, and residential.

Increasing demand for renewable energy is expected to boost the growth of the wind turbine casting market going forward. Renewable energy comes from natural sources that renew themselves more quickly than they are depleted. Renewable energy is becoming more popular because it reduces pollutants and greenhouse gas emissions, both of which contribute to climate change. Wind turbine casting technology is one of the essential components of renewable energy as it helps to reduce the use of fossil fuels and dangerous nuclear power. For instance, according to a report by the International Energy Agency, a France-based autonomous intergovernmental organization, the utilization of renewable energy increased by 3% in 2020. In addition, the proportion of renewable energy in the world's power generation increased from 27% in 2019 to 29% in 2020. Therefore, the rising demand for renewable energy is expected to drive the growth of the wind turbine casting market.

Technological advancements have emerged as a key trend gaining popularity in the wind turbine market. Major companies operating in the wind turbine casting market are focused on innovating new technologies to sustain their position. For instance, in September 2021, Siemens Gamesa Renewable Energy, a Germany-based renewable energy company, launched the recyclable wind turbine blade. This wind turbine blade can be recycled at the end of its lifecycle. The recyclable blade recovery technique uses a moderate acidic solution to separate the materials at the end of the wind turbine's lifetime. These materials can then be recycled and repurposed in various industries such as construction, consumer goods, and vehicle manufacturing.

In September 2022, SSE Renewables, a UK-based electricity generation company, acquired Siemens Gamesa Renewable Energy existing European renewable energy development platform, for $564.22 million (€580m). With this acquisition, SSE Renewables enters Southern Europe, building its successful renewables business in the UK and Ireland, where it owns and operates 4GW of renewable assets, including nearly 2GW of onshore wind, and has a secured pipeline of over 11GW of onshore wind, offshore wind, and hydro projects. Siemens Gamesa Renewable Energy is a Germany-based company that manufactures wind turbines and provides onshore and offshore wind services.

The countries covered in the wind turbine casting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The wind turbine casting market research report is one of a series of new reports that provides wind turbine casting market statistics, including wind turbine casting industry global market size, regional shares, competitors with a wind turbine casting market share, detailed wind turbine casting market segments, market trends and opportunities, and any further data you may need to thrive in the wind turbine casting industry. This wind turbine casting market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.




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Frequently Asked Questions about the Global Wind Turbine Casting Market

What is the estimated value of the Global Wind Turbine Casting Market?

The Global Wind Turbine Casting Market was estimated to be valued at $2 billion in 2022.

What is the growth rate of the Global Wind Turbine Casting Market?

The growth rate of the Global Wind Turbine Casting Market is 5.4%, with an estimated value of $2.47 billion by 2026.

What is the forecasted size of the Global Wind Turbine Casting Market?

The Global Wind Turbine Casting Market is estimated to be worth $2.47 billion by 2026.

Who are the key companies in the Global Wind Turbine Casting Market?

Key companies in the Global Wind Turbine Casting Market include Suzlon Energy Limited, Sinovel Wind Group Co. Ltd., Mingyang Smart Energy Group Co. Ltd., Vestas Co., DHI DCW Group Co. Ltd., Premier Heavy Engineering Ltd., Goldwind, Enercon and Mingyang Smart Energy Group Co. Ltd..

Table of Contents

1. Executive Summary2. Wind Turbine Casting Market Characteristics3. Wind Turbine Casting Market Trends And Strategies
4. Wind Turbine Casting Market - Macro Economic Scenario
4.1. COVID-19 Impact On Wind Turbine Casting Market
4.2. Ukraine-Russia War Impact On Wind Turbine Casting Market
4.3. Impact Of High Inflation On Wind Turbine Casting Market
5. Wind Turbine Casting Market Size And Growth
5.1. Global Wind Turbine Casting Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Wind Turbine Casting Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Wind Turbine Casting Market Segmentation
6.1. Global Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Horizontal Axis
  • Vertical Axis
6.2. Global Wind Turbine Casting Market, Segmentation By Material, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Copper
  • Glass-Reinforced Plastic
  • Concrete
6.3. Global Wind Turbine Casting Market, Segmentation By Application, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Onshore
  • Offshore
6.4. Global Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Industrial
  • Commercial
  • Residential
7. Wind Turbine Casting Market Regional And Country Analysis
7.1. Global Wind Turbine Casting Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Wind Turbine Casting Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
8. Asia-Pacific Wind Turbine Casting Market
8.1. Asia-Pacific Wind Turbine Casting Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
8.3. Asia-Pacific Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
9. China Wind Turbine Casting Market
9.1. China Wind Turbine Casting Market Overview
9.2. China Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion
9.3. China Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion
10. India Wind Turbine Casting Market
10.1. India Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
10.2. India Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11. Japan Wind Turbine Casting Market
11.1. Japan Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11.2. Japan Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12. Australia Wind Turbine Casting Market
12.1. Australia Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12.2. Australia Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
13. Indonesia Wind Turbine Casting Market
13.1. Indonesia Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
13.2. Indonesia Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
14. South Korea Wind Turbine Casting Market
14.1. South Korea Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
14.2. South Korea Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
15. Western Europe Wind Turbine Casting Market
15.1. Western Europe Wind Turbine Casting Market Overview
15.2. Western Europe Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
15.3. Western Europe Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
16. UK Wind Turbine Casting Market
16.1. UK Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
16.2. UK Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
17. Germany Wind Turbine Casting Market
17.1. Germany Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
17.2. Germany Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
18. France Wind Turbine Casting Market
18.1. France Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
18.2. France Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
19. Eastern Europe Wind Turbine Casting Market
19.1. Eastern Europe Wind Turbine Casting Market Overview
19.2. Eastern Europe Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
19.3. Eastern Europe Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
20. Russia Wind Turbine Casting Market
20.1. Russia Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
20.2. Russia Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
21. North America Wind Turbine Casting Market
21.1. North America Wind Turbine Casting Market Overview
21.2. North America Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
21.3. North America Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
22. USA Wind Turbine Casting Market
22.1. USA Wind Turbine Casting Market Overview
22.2. USA Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
22.3. USA Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
23. South America Wind Turbine Casting Market
23.1. South America Wind Turbine Casting Market Overview
23.2. South America Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
23.3. South America Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
24. Brazil Wind Turbine Casting Market
24.1. Brazil Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
24.2. Brazil Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
25. Middle East Wind Turbine Casting Market
25.1. Middle East Wind Turbine Casting Market Overview
25.2. Middle East Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
25.3. Middle East Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
26. Africa Wind Turbine Casting Market
26.1. Africa Wind Turbine Casting Market Overview
26.2. Africa Wind Turbine Casting Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
26.3. Africa Wind Turbine Casting Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
27. Wind Turbine Casting Market Competitive Landscape And Company Profiles
27.1. Wind Turbine Casting Market Competitive Landscape
27.2. Wind Turbine Casting Market Company Profiles
27.2.1. Suzlon Energy Limited
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Sinovel Wind Group Co Ltd
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Mingyang Smart Energy Group Co Ltd
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Vestas Co
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. DHI DCW Group Co Ltd
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Wind Turbine Casting Market29. Wind Turbine Casting Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Historic And Forecast Inflation Rates
30.4. Research Inquiries
30.5. The Business Research Company
30.6. Copyright And Disclaimer

Executive Summary

Wind Turbine Casting Global Market Report 2022: Ukraine-Russia War Impact provides the strategists, marketers and senior management with the critical information they need to assess the global wind turbine casting market.

This report focuses on wind turbine casting market which is experiencing strong growth. The report gives a guide to the wind turbine casting market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Assessment of Russia - War Impact on agriculture, energy and mineral commodities supply and their direct and indirect impact on the market analyzed in the report.
  • Impact of high global inflation on market growth.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Description:

Where is the largest and fastest growing market for the wind turbine casting? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Wind Turbine Casting market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider wind turbine casting market, and compares it with other markets.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the influence of the COVID-19 virus and forecasting its growth.
  • Our forecasts are made after considering the major factors currently impacting the market. These include:
  • The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
  • The impact of higher inflation in many countries and the resulting spike in interest rates.
  • The continued but declining impact of covid 19 on supply chains and consumption patterns.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The wind turbine casting market section of the report gives context. It compares the wind turbine casting market with other segments of the wind turbine casting market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, wind turbine casting indicators comparison.

Scope

Markets Covered:

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

Companies Mentioned: Suzlon Energy Limited; Sinovel Wind Group Co. Ltd.; Mingyang Smart Energy Group Co. Ltd.; Vestas Co.; DHI DCW Group Co. Ltd.

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Suzlon Energy Limited
  • Sinovel Wind Group Co. Ltd.
  • Mingyang Smart Energy Group Co. Ltd.
  • Vestas Co.
  • DHI DCW Group Co. Ltd.
  • Premier Heavy Engineering Ltd.
  • Goldwind
  • Enercon
  • SHW Casting Technologies GmbH & Co.
  • Mingyang Smart Energy Group Co. Ltd.
  • Global Castings
  • SEFORGE
  • SAKANA Group
  • Elyria Foundry Company
  • Juwi Holding AG
  • SIMPLEX
  • AEROVIDE GmbH
  • Shandong Longma.

Methodology

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