According to the research report titled ‘Wind Turbine Casting Market Share, Size, Trends, Industry Analysis Report By Type; By Application; By Regions, Segment Forecasts, 2020 – 2027’ available with Market Study Report, global wind turbine casting market is expected to account for around USD 2.9 billion by the year 2027.
 

Industry experts claim that growing awareness regarding alternative energy sources, stringent government regulations and standards, and high lifespan of the product are bolstering the growth of global wind turbine casting market share.
 

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For the record, wind energy is an alternative for conventional energy generation that converts kinetic energy into electrical energy. Wind turbines comprises of various components including primary shaft, rotor hub, power convertor, generators, gearbox, rotor blades as well as bearings, and others.
 

Furthermore, favorable public initiatives to accelerate the adoption of renewable energy sources, increasing efforts towards reducing overall carbon footprint, swift urbanization, and escalating electricity demand from the construction sector are positively swaying the global wind turbine casting market dynamics. 
 

Based on type, global wind turbine casting industry share from the horizontal axis segment is predicted to witness considerable expansion over the forecast period. High energy efficiency along with increasing research and development activities are boosting the growth of the segment.
 

With regards to application scope, the market is bifurcated into offshore and onshore, among which the latter is estimated to record significant growth through 2027.
 

In terms of regional perspective, global wind turbine casting industry is bifurcated into regions such as Middle East & Africa, Latin America, Asia-Pacific, Europe and North America. The report focuses on UAE, Israel, South Africa, Saudi Arabia, Colombia, Mexico, Brazil, South Korea, China, Japan, India, Spain, Italy, France, Germany, U.K., Canada, and the United States.
 

Major players that outline the global wind turbine casting industry trends are Global Castings Pvt. Ltd., Premier Ltd., Enercon GmbH, SHW Casting Technologies GmbH & Co. KG, Suzlon Energy Limited, Xinjiang Goldwind Science & Technology Co. Ltd (Goldwind), DHI-DCW Group Co. Ltd., Vestas Wind Systems A/S, Sinovel Wind Group Co. Ltd., and SEFORGE Limited.