Wind Turbine Casting Market Report 2026

The wind turbine casting market size has grown strongly in recent years. It will grow from $2.44 billion in 2025 to $2.63 billion in 2026 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to expansion of global wind energy installations, increasing investment in onshore wind projects, advancements in casting and molding technologies, availability of large-scale manufacturing facilities, growth in renewable energy manufacturing hubs.

The wind turbine casting market size is expected to see strong growth in the next few years. It will grow to $3.55 billion in 2030 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to increasing offshore wind capacity additions, rising demand for higher-capacity wind turbines, growing focus on cost-efficient turbine components, expansion of localized wind component manufacturing, increasing adoption of advanced composite casting materials. Major trends in the forecast period include increasing adoption of large-scale turbine castings, rising demand for lightweight and durable casting materials, growing use of precision casting techniques, expansion of offshore wind turbine components, enhanced focus on structural integrity and fatigue resistance.

The rising demand for electricity is projected to drive the growth of the wind turbine casting market in the coming years. Electricity is a form of energy produced by charged particles, such as electrons or protons, either in a static state or as a dynamic current. Wind turbine casting plays a crucial role in harnessing wind energy to generate electricity by creating durable components for wind turbine structures. For example, in July 2024, the International Energy Agency (IEA), a France-based intergovernmental organization, reported that global electricity demand is expected to rise by approximately 4% in 2024, up from a growth rate of 2.5% in 2023. Thus, the increasing electricity demand is significantly contributing to the expansion of the wind turbine casting market.

Leading companies in the wind turbine casting market are concentrating on developing innovative products to maintain their competitive edge. For instance, in January 2024, Mingyang Smart Energy, a China-based wind turbine manufacturer, introduced the MySE 18.X-20 MW wind turbine. This turbine features flexible power ratings ranging from 18.X to 20 MW and has rotor diameters between 260 to 292 meters (approximately 853 to 958 feet), enabling it to cover a swept area equivalent to nine soccer fields. The MySE 18.X-20 MW can generate an impressive 80 million kWh annually, which is enough to power around 96,000 households. Additionally, it can significantly reduce carbon emissions by approximately 66,000 tonnes per year, thus contributing to global sustainability initiatives.

In April 2025, Kutluk Döküm Group, a Turkey-based foundry manufacturing company, acquired Teutoguss GmbH for an undisclosed amount. Through this acquisition, Kutluk Döküm Group sought to ensure the continuity of the insolvent German iron foundry, broaden its international production capacity and export reach, and enhance its expertise in high-quality castings. Teutoguss GmbH is a Germany-based company that supplies castings for components used in wind turbine applications.

Major companies operating in the wind turbine casting market are SHW Casting Technologies GmbH & Co, SimplexCC Ltd., Global Castings Pvt Ltd., Elyria Foundry Company LLC, SE Forge Limited, Premier Heavy Engineering Ltd., AEROVIDE GmbH, Shandong Longma Heavy Industry Group Co Ltd., CSIC Haizhuang Windpower Equipment Co Ltd., Zhonghang Hui Teng Renewable Resources Co Ltd., Hitachi Ltd., General Electric Company, Vestas Wind Systems AS, 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., Enercon GmbH, Envision Energy, Mitsubishi Power Ltd., Hangzhou Steam Turbine & Power Group Co Ltd., XEMC Windpower Co Ltd., Hyosung Heavy Industries, Senvion SA.

Asia-Pacific was the largest region in the wind turbine casting market in 2025. The regions covered in the wind turbine casting market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the wind turbine casting market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The wind turbine casting market consists of sales of rotor hubs, axle pins, blades, generators, shaft machines, and hydraulics systems. 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.

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

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

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