Selbyville, Delaware, October 26, 2020 (GLOBE NEWSWIRE) – According to reliable estimates, global wind turbine foundry market size is designed to show appreciated growth trends and reach $ 2.9 billion at a 6.1% CAGR by the year 2027. Growth is credited to support measures by public entities to encourage the use of renewable energy in consortium with an emphasis on reducing GHG emissions and reducing carbon footprint.
According to the report provided, the global wind turbine foundry market is assessed with reference to the type, spectrum of application and regional landscape. In addition, the study dissects the competitive arena of this business space, highlighting the product offerings, as well as the market share held by each main competitor. He also mentions collaborations planned by leading organizations to gain competitive advantage in this sphere of the industry.
Wind energy can be used as an alternative to traditional energy sources. Notably, wind turbines turn the kinetic energy of the wind into electricity. The growing knowledge of alternative energy sources among prominent end users and the subsequent incorporation to meet government and industry standards are driving trends in the global wind turbine foundry market.
In addition, wind turbines are designed and manufactured to have a minimum service life of 20 years. It has several components, such as rotor hub, wires, nacelle housing, primary shaft, power converter, generators, rotor bearings, rotor blades, main frame, gearbox and turret. While the constituents that go through casting are main conveyors, transformers, shaft pins and rotor hubs.
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The growth of the construction sector coupled with rapid urbanization drives demand for electricity, which is driving the expansion of the global wind turbine foundry market. The escalating demand for energy with the increase in population, coupled with rapid industrialization, is facilitating the business landscape. In addition, the growing awareness of the harmful effects of non-renewable sources among end users is also promoting the deployment of wind turbines.
The inclination towards environmentally friendly energy in an attempt to reduce dependence on conventional sources, together with technological advances that make wind turbine smelting more desirable and effective, are increasing demand for the product. In addition, the low preservation time, the significant reduction in operating costs, as well as the low nominal capacity to generate high energy are positively impacting the forecasts of the global wind turbine foundry market.
Elaborating according to type
According to estimates, the horizontal axis segment is expected to hold a significant share of the global wind turbine foundry market during the analysis period. Benefits such as increased energy production and high efficiency serve as an opportunity for manufacturers to invest in research and development of horizontal axis wind turbine foundries in the following years.
Outlining application spectrum
The global share of the onshore wind turbine foundry industry is expected to register decent growth during the evaluation period. Ground installation is simpler and requires less maintenance. In addition, the lower cost of power generation will drive segmental growth.
Meanwhile, the offshore segment is expected to accumulate notable gains in the coming years, as economies like the USA, Taiwan, Japan, South Korea and China are emphasizing the deployment of offshore wind turbines to minimize dependence on conventional sources and reduce the carbon footprint.
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Assessing the regional landscape
According to industry experts, major economies such as South Africa, the United Kingdom, Brazil, India, China, Japan, Germany and the USA are increasing offshore application facilities, thereby improving the outlook for the global wind turbine foundry market. in relation to the estimated term. In addition, reduced maintenance costs and the long service life of wind turbine foundries are creating lucrative opportunities for industry manufacturers.
At the same time, the Asia-Pacific wind turbine foundry industry is expected to grow substantially between 2020-2027, due to population growth and increasing demand for electricity. High government spending on clean energy development and energy studies is likely to drive market growth in Asia-Pacific.
Global Wind turbine casting Market by type (revenue, millions of dollars, 2016-2027)
- Vertical axis
- Horizontal axis
Global Wind turbine casting Market application spectrum (revenue, millions of dollars, 2016-2027)
Global Wind turbine casting Regional market scenario (revenue, millions of dollars, 2016-2027)
- United Kingdom
Middle East and Africa
- Saudi Arabia
- South Africa
- South Korea
Competitive hierarchy of the global wind turbine foundry market (revenue, millions of dollars, 2016-2027)
- SHW Casting Technologies GmbH & Co. KG
- Global Castings Unip. Ltd.
- Premier Heavy Engineering by Premier Ltd.
- Enercon GmbH
- Suzlon Energy Ltd.
- Goldwind (Xinjiang Goldwind Science & Technology Co. Ltd.)
- Vestas Technology Pvt. Ltd.
- Sinovel Wind Group Co. Ltd.
- SEForge Ltd.
- DHI DCW Group Co. Ltd.
1. Overview and scope
1.1. Research objective and scope
1.2. Research assumptions
1.3. Research Methodology
1.3.1. Primary data sources
1.3.2. Secondary data sources
1.4. Top Tips
2. Executive Summary
2.1. Market Definition
2.2. Market segmentation
3. Vision of the wind turbine foundry market
3.1. Foundry of wind turbines – industry overview
3.2. Dynamics of the wind turbine foundry market
3.2.1. Wind turbine foundry – Market forces
18.104.22.168. Driver analysis of the wind turbine foundry market
22.214.171.124. Restriction / challenges analysis of the wind turbine foundry market
126.96.36.199. Analysis of wind turbine foundry market opportunity
3.3. Industry analysis – five Porter forces
3.4. PEST analysis of the wind turbine foundry market
3.5. Value Chain Analysis
3.6. Competitive classification analysis, 2019
4. Size of the wind turbine foundry market and forecast by product type
4.1. Main conclusions
4.2.1. Global market share of wind turbine foundry by product type, 2019 and 2027
4.3. Horizontal axis
4.3.1. 2016-2027 global horizontal axis wind turbine foundry market estimates and forecasts (million dollars)
4.4. Vertical axis
4.4.1. Global vertical axis wind turbine foundry market estimates and forecasts 2016 – 2027 (millions of dollars)
4.4.2. Global vertical axis Wind turbine foundry market estimates and forecasts, by region, 2016 – 2027 (millions of dollars)
5. Size of the wind turbine foundry market and forecast by application
5.1. Main conclusions
5.2.1. Global market share of wind turbine foundry by application, 2019 and 2027
5.3. In land
5.3.1. Global onshore wind turbine foundry market estimates and forecasts, 2016-2027 (millions of dollars)
5.3.2. Estimates and predictions of the global onshore wind turbine foundry market, by region, 2016 – 2027 (millions of dollars)
5.4 At sea
5.4.1. Global offshore wind turbine foundry market estimates and forecasts, 2016-2027 (millions of dollars)
6. Size of the wind turbine foundry market and forecast by region
Offshore wind turbines market, industry analysis report, regional outlook, competitive market share and forecast, 2020-2026
The size of the offshore wind turbine market is expected to grow by more than 18% CAGR between 2020 and 2026, according to new research report. The continued emphasis on the adoption of clean energy sources, including wind, geothermal, solar and waste-to-energy, has created prominent growth opportunities for the market. The deployment of offshore wind technologies is gaining considerable recognition due to its significant power generation skills. Lower noise, no land acquisition costs and wide availability of wind resources compared to conventional onshore projects are some indispensable resources that fuel the growth of the offshore wind turbine market.
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