Pune, India, Dec. 06, 2023 (GLOBE NEWSWIRE) -- The global wind turbine casting market size is set to gain momentum from the steady adoption and application of renewable energy sources for generating power. This information is given by Fortune Business Insights™ in an upcoming report titled, “Wind Turbine Casting Market, 2022-2029.”
Key Industry Developments
April 2020: Launch of new Freya model is announced by IceWind, an Icelandic renewable energy company. The model has six blades in the vertical axis wind turbine and provides low start-up speeds due to the presence of inner blades. The blades also act like a brake in case the speed gets too high.
July 2019: The first 12MW offshore wind turbine towers and blades are already shaped; the parts will now be assembled at Port of Rotterdam, situated in the Netherlands, to come up with the unveiling of a new 12MW Halide X offshore wind turbine nacelle.
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Drivers & Restraints -
Renewable Energy Sources to Increase Wind Energy Market to a Good Extent in Coming Time
A constant rise in the application of renewable energy that source for power generation and the inflation in the deployment of wind energy athwart different application sectors like split generation, virtual power plants, and district heating drives the market towards growth in the forthcoming time.
However, solar energy adoption has increased at a high pace in the past few years, which could become a hindrance in the growth. The wind turbine casting market growth may have to face and come along with the ascending competition from other sources of renewable energy like solar.
COVID-19 Impact
The global pandemic has negatively impacted the growth of several industries and markets, including the distribution transformer market. The stringent governmental regulations like lockdowns and curfews imposed to curb the spread of the virus have affected the operations and supply chain networks of major businesses operating in the market. The low available workforce resulted in reduced production levels. Many businesses reported shrunken revenues during the pandemic. However, vaccines are now available to the masses, and the market is gradually gaining traction. The market is expected to witness steep growth post-pandemic.
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Competitive Landscape
Key Players Focusing on High Feasibility to Recapture Market
Competitors centered on developing new models of turbine wind casting to achieve a global position in the market. Unveiling and announcement of the model are done to get a competitive edge. Low start-up speed and high productivity became the center of new model development in the casting of turbine wind.
Segmentation
By type, the market is divided into horizontal axis and vertical axis.
Depending on the application, the market of wind turbine casting is split into onshore and offshore.
Regionally, the market is segregated into North America, Europe, Asia Pacific, Latin America, Middle East & Africa.
Pre-book Wind Turbine Casting Market Research Paper: https://www.fortunebusinessinsights.com/checkout-page/104956
Regional Insights
New Projects Announcements to Back North America Become Leading Region
The global casting market of the wind turbine is studied across five various regions where North America is one of the leading players. The U.S. alone has installed more than 30WG projects from 2015-2019.
Whereas Latin America and Middle East & Africa are expected to penetrate the market to hold immense opportunities to grow. Several big projects have been announced in regions which will captivate investments in upcoming years.
List of the Key Players Profiled in the Global Market
- Siemens Gamesa Renewable Energy S.A (Spain)
- MHI Vestas Offshore Wind (Denmark)
- GE (U.S.)
- Senvion S.A (Germany)
- Adwen (Germany)
- ABB (Switzerland)
- GoldWind (China)
- Envision Energy (China)
- Suzlon Energy Limited (India)
- Hitachi Ltd. (Japan)
- Nordex SE (Germany)
- Ming Yang Smart Energy Group Co. (China)
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Table of Content:
- Introduction
- Research Scope 2030
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary 2023-2030
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights 2030
- Key Industry Developments - Merger, Acquisitions, and Partnerships
- Distribution Analysis
- Porter’s Five Forces Analysis
- PEST Analysis 2023
- Technological Developments
- Impact of COVID-19
- Continued…
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