San Francisco, 30 October 2018 , The global wind turbine casting market is expected to reach USD 3.27 billion
by 2025, according to a new report conducted by Grand View Research, Inc. The
growing demand for electricity in developing countries including China, India,
South Africa, and Brazil on account of increasing population and urbanization
will drive the application of wind turbines. Furthermore, increasing government
spending on energy research and the development of clean energy is expected to
aid in the market expansion.
Increasing wind energy installations
coupled with the rapid depletion of fossil fuels will drive the demand for wind
turbines, which in turn will fuel the casting industry growth over the forecast
period. Moreover, the growing requirement for the reduction of carbon footprint
and emissions is expected to spur the industry expansion over the upcoming
years.
Full Research Report On Wind Turbine Casting Market Analysis:
www.grandviewresearch.com/industry-analysis/wind-turbine-casting-market
www.grandviewresearch.com/industry-analysis/wind-turbine-casting-market
Further key findings from the report suggest:
·
The global wind turbine casting industry is
expected to grow significantly at a CAGR of 7.4% in light of increasing
application of turbines to generate energy from natural resources in emerging
countries such as China, India, South Korea, Brazil, Japan, and UAE
·
Low maintenance costs and product
development of the wind turbines will amplify the usage of these products in
energy generation and create opportunities for the market in the future
·
North America accounted for 17% of the
overall revenue share in 2015 and is projected to witness significant growth on
account of rising number of wind energy installations in the region. Moreover,
the development of offshore energy will create opportunities for the market
over the upcoming years. In 2015, 8,598 MW was added to the existing capacity
of 65,877 MW in the U.S.
·
Central & South America is anticipated
to witness considerable growth at a CAGR of 8.3% from 2016 to 2025 owing to
positive outlook towards renewable energy production in Argentina, Brazil,
Chile, Uruguay, and Venezuela. In 2015, Brazil added 2,754 MW to the existing
capacity of 5,962 MW.
·
Key participants including Vestas, Sinovel,
Goldwind, Enercon, DHI DCW Group Co., Ltd., Suzlon, Premier Heavy Engineering,
SHW Casting Technologies GmbH & Co. KG, SAKANA Group, Global Castings,
SEFORGE, Riyue Heavy Industry Corporation Ltd., and Elyria Foundry Company,
LLC.
·
The industry is highly fragmented in nature
with a large number of manufacturers being present in Asia Pacific, North
America, and Europe. In January 2017, Danish manufacturer Vestas signed a deal
with Spanish developer Gestamp to supply 21 turbines for two projects in Brazil.
Browse
More Reports Of This Category By Grand View Research At: www.grandviewresearch.com/industry/renewable-energy
Grand View Research has segmented the global wind turbine casting market
on the basis of type, application and region:
Type Outlook (Revenue, USD Million; 2014 -
2025)
·
Horizontal axis
·
Vertical axis
Application Outlook (Revenue, USD Million;
2014 - 2025)
·
Onshore
·
Offshore
·
Others
Regional Outlook (Revenue, USD Million;
2014 - 2025)
·
North America
o
U.S.
·
Europe
o
Germany
o
UK
·
Asia Pacific
o
China
o
India
·
Central & South America
o
Brazil
·
MEA
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-wind-turbine-casting-market
www.grandviewresearch.com/press-release/global-wind-turbine-casting-market
About Grand View Research
Grand View Research, Inc.
is a U.S. based market research and consulting company, registered in the State
of California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com/
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