Global Wind Turbine Castings Market 2017-2021

Overview of the global wind turbine castings market

Market research analysts at Technavio predict that the global wind turbine castings market will grow steadily at a CAGR of over 7% by 2021. This market research analysis identifies the growing demand for electricity as one of the primary growth factors for this market. The increasing demand for electricity, particularly in emerging economies such as China, India, Brazil, and South Africa, owing to urbanization and the rapidly increasing population is one of the major driving factors for the global wind turbine castings market. The demand for electricity translates into the demand for energy and cost-efficient wind energy; thereby, boosting the growth of the global wind turbine castings market.

The emergence of smart wind turbines is one of the latest trends that will gain traction in the wind turbine castings market in the coming years. Smart wind turbines capture more wind due to reduced maintenance downtime and contribute to lower operational costs. Additionally, smart wind turbines assist with the lower capacity rating and end up generating more power.

Competitive landscape and key vendors

The global wind turbine castings market is subject to intense competition between vendors trying to dominate the market by investing a sizable portion of their revenue into R&D. The market is also witnessing players getting into agreements with governments to supply wind turbine components for casting processes such as investment casting and sand casting on a large scale. Vendors in this market compete based on factors such as innovation, price, operational cost, and product quality to gain an edge over their peers.

The leading vendors in the market are -

• Goldwind Science & Technology
• Premier
• SAKANA Group
• Suzlon Energy

The other prominent vendors in the market include Elyria Foundry Company, ENERCON, Riyue Heavy Industry, shandong longma Heavy Industry, Simplex Castings, Sinovel Wind Group, and K & M Machine-Fabricating.

Segmentation by material type and analysis of the wind turbine castings market

• Steel
• Glass-reinforced plastic
• Concrete
• Copper

During 2016, the steel segment accounted for the major shares of this market. Steel accounts for 75%-85% of the components necessary to build a wind turbine. It also acts as a necessary component for the setting up of key components, including gears and bearings, in a typical wind turbine. These factors will contribute to the growth of the cast steel market throughout the forecast period.

Geographical segmentation and analysis of the wind turbine castings market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas will be the major revenue contributor to the market by 2021. The US constitutes most of the installations of wind turbines in the region and has seen a considerable amount of progress in the rate of wind energy installments.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global wind turbine castings market?
• What are the key market trends impacting the growth of the global wind turbine castings market?
• What are the challenges to market growth?
• Who are the key vendors in the global wind turbine castings market?
• What are the market opportunities and threats faced by the vendors in the global wind turbine castings market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global wind turbine castings market?

Technavio also offers customization on reports based on specific client requirement.

This upcoming market research report on the global wind turbine castings market is a vital part of Technavio's chemicals and materials portfolio and offers key insights into the market space metals and minerals. To help clients build effective growth strategies, Technavio's offers insightful market research reports on the market size, forecast, trends, and industry analysis.

Additionally, by applying an extensive research approach of quantitative and qualitative data collection methods and assessing the changing demand-supply landscape of the metals and minerals sector, the upcoming market research report on the global wind turbine castings market offers insights into the key market drivers, trends, and prominent challenges that will influence the growth of the key suppliers in this market space. This upcoming market research report on the global wind turbine castings market also covers vendors like CASCO, Elyria Foundry, CAST-FAB, VESTAS, SHW CT, Simplex Castings, SAKANA, K&M Machine Fabricating, KOTRACK, API Engineering, GLORIA, Jiangsu Sinojit, Jiangsu Huadong, Zhejiang Jiali, Yeong guan, Jiangsu FAW, Dalian Huarui, Riyue Heavy Industry, RIFA, Qinchuan Machine, Shandong longma, Vestas(XUZHOU), Henan Hongyu, SXD, Qukin, Kocel, and Xing Sheng.

This market research report on the global wind turbine castings market also takes into account the growth of related markets like platinum group metals, which is anticipated to post an impressive CAGR of above 3% during the forecast period. Moreover, to help clients to identify potential market opportunities and expand in niche markets, this report on the global wind turbine castings market also covers geographies like the Americas, APAC, and EMEA.

The upcoming industry research report on the global wind turbine castings market also categorizes the key drivers, major trends, as well as the limitations that the metals and minerals sector currently experiences. It also presents insights into the constantly fluctuating competitive scenario to give clients an accurate picture of the upcoming events within the chemicals and materials industry. Technavio also provides in-depth market assessments into the sectors such as plastics, polymers, and elastomers and chemical engineering equipment.

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