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:
http://www.grandviewresearch.com/industry-analysis/wind-turbine-casting-market
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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.
View More Reports
of This Category by Grand View Research At: https://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
View
Press Release of this research report by Grand View Research: https://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
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
