Wind Turbine Forging Market

Wind Turbine Forging Market Size

The global wind turbine forging market size was valued at USD 9.6 billion in 2024 and is projected to grow at a CAGR of 7.3% between 2025 and 2034. A rise in wind installations is increasing the demand for forged parts, thus propelling the wind turbine forging industry. Governments and companies are emphasizing renewable energy to achieve the climate targets and minimize the use of fossil fuels. For example, as per the U.S. Energy Information Administration (EIA), wind energy produced 11% of the total electricity in the United States in 2022, and the figure is expected to increase in future years.

In addition, the European Commission stated that wind supplied 16% of electricity used in the European Union in 2022 and aims to double offshore wind capacity by 2030. Both onshore and offshore wind farms need turbines with sturdy and long-lasting forged components, including main shafts, gear blanks, flanges, and bearing housing. Seamless rolled ring forging and open die are also extensively employed because they produce components having extremely fine mechanical properties to withstand high stress, harsh weather, and incessant use. As wind capacity continues to grow, especially in Europe, Asia-Pacific, and North America, high-quality forged parts demand will further increase, thus propelling the market for wind turbine forgings.

Wind Turbine Forging Market Trends

• Expanding offshore wind farms are a key trend, necessitating heavier and stronger forged parts to serve the most severe environmental conditions, along with higher energy output.
  
• Meanwhile, the industry is moving towards higher turbines, offshore specifically, which imposes heavier requirements for stronger components such as main shafts, flanges, and gear rings. Technologies like open die and seamless rolled ring forging are gaining popularity as they impart higher strength and durability, which is perfect for critical turbine parts.
  
• Modern technologies like process optimization, digital simulation, and automation are being applied to precision forging with improved accuracy and efficiency. Sustainability too is high on the list, with most manufacturers opting for greener processes and materials to meet renewable energy objectives. The United States Department of Energy reports that wind power generated 10.2% of all electricity produced in the United States in 2022, and the Biden Administration has committed to having 30 gigawatts (GW) of offshore wind capacity installed by 2030.
  
• Original Equipment Manufacturers (OEMs) are also diversifying their supply bases by bringing capacity in-house or forging joint ventures with other companies. China, India, and South Korea are becoming more significant manufacturing centers because of reduced costs and metallurgical capabilities. These trends validate the growing significance of forging in fulfilling the needs of the world wind power sector.
  

Trump Administration Tariff

• The tariffs by the trump administration introduced additional expense and uncertainty for both manufacturers and developers of the U.S. wind turbine forging industry.
  
• The tariffs consist of a 25% tariff on Mexican and Canadian imports and a 10% tariff on Chinese parts. The tariffs have raised the price of wind turbine components by as much as 7%, reports industry officials. This extra cost has caused some projects to be too costly to pursue. These costs are usually passed on to consumers by manufacturers, which means higher electricity costs. Vestas, for instance, a leading wind turbine maker, has indicated it unabsorbed these additional costs, which will drive up the price of electricity produced by wind. Wind accounted for 10.2% of electricity in 2022, and increasing costs may slow its expansion, according to the U.S. Energy Information Administration (EIA).
  
• The tariffs have further affected international supply chains since most wind turbine parts are imported. This has led to delays and added expenses in wind power projects. Tariff uncertainty has also discouraged developers from buying new equipment, which could delay the development of the wind power market. The U.S. Department of Energy indicates that in 2022, wind energy capacity increased by 9%, but such growth may be undermined in the future by these problems.
  

Wind Turbine Forging Market Analysis

Based on the type, the market is divided into open die forging, seamless rolled ring, and closed die forging. In 2024, open die forging dominated the market, accounting for around 44% share and expected to grow at a CAGR of over 7.9% during the forecast period.

• Open die forging is leading to the wind turbine forging technology due to its capability of producing large and strong parts required for new wind turbines. Technology deforms the metal between flat or shaped dies, and that controls the material strength and the direction of the grain flow. All these issues are critical to parts such as flanges, hubs, and main shafts being high-stress, torque, and fatigue subjected components.
  
• Wind turbines, particularly offshore turbines, require heavy-duty and large pieces of equipment that can withstand harsh weather conditions and remain operational for decades. Open die forging is best suited to produce such equipment as it produces robust and dependable components with less defects. The process also enables manufacturers to tailor parts, which is essential since wind turbine technology is continually developing to accommodate new specifications.
  
• As turbines become larger and the industry is setting its sights on efficiency and reliability, manufacturers are looking to open die forging. The process creates improved strength-to-weight ratios, is material-efficient, and has high fatigue resistance. Wind capacity in the United States increased by 16% in 2023, as reported by the U.S. Department of Energy, but even with this type of growth, demand for efficient processes such as open die forging to fuel the expanding wind energy market.
  

Based on applications, the wind turbine forging market is segmented into onshore and offshore. In 2024, the onshore segment dominates the market with 67.3% market share and the segment is expected to grow at a CAGR of over 7.6% from 2025 to 2034.

• Onshore installation leads to the wind turbine forging industry because it is cheaper, has easier coordination, and is quicker to install compared to offshore installation. Regions such as Asia-Pacific, North America, and Europe have embraced onshore wind farms significantly based on access to land and the offer of incentives for renewable energy by governments. For instance, based on the U.S. United States Department of Energy, onshore wind capacity has reached over 145 GW by 2023 and has played a key role in clean energy objectives. Standard-sized turbines are applied in such projects, and component manufacturers can simply produce items such as shafts, flanges, and gear blanks in large numbers.
  
• Furthermore, onshore stations are more economical to invest in and maintain than the offshore stations since they need bespoke ships, a greater depth foundation, and material resistant to corrosion. Such economizing has favored larger numbers of onshore turbines everywhere globally with constant demand being generated for components that are forged. With onshore wind capabilities continuing to expand through development among governments of emerging as well as established nations aimed at achieving targets for renewable energies, onshore installations continue as the most prevalent application in wind turbine forging activity.
  

Based on the distribution channel, the wind turbine forging market is segmented into direct and indirect. In 2024, the direct channel segment dominates the market and is expected to grow at a CAGR of over 7.6% from 2025 to 2034.

• Direct channel is dominating market growth because it provides better control, customization, and supply chain efficiency, particularly for large-capacity and technology-intensive wind power projects. Vestas, Siemens Gamesa, and GE Renewable Energy, all large wind turbine original equipment manufacturers (OEMs), are prone to make direct procurement of key forged pieces—main shafts, gear rings, and projections—from forging companies with the purpose to maintain product quality, traceability, and full compliance with harsh performance requirements.
  

In 2024, U.S. in North America dominated the wind turbine forging market with around 87% market share and project the estimated revenue of USD 3.6 billion by 2034.

• North America's government policies such as the Production Tax Credit (PTC) and Investment Tax Credit (ITC) are propelling the wind energy industry towards expansion via investment in wind energy infrastructure. Wind power contributed 10.2% of electricity produced in the United States in 2022, and the trend is likely to increase further. Offshore wind farms along the East Coast, and specifically in the United States, are creating rising demand for heavy forged products like flanges and shafts with high strength. Corporate sustainable initiatives are also fostering steady demand for wind power, emphasizing the importance of robust supply chains for forged products.
  

The wind turbine forging market in the Germany is expected to experience significant and promising growth from 2025 to 2034.

• In Europe, the European forgings market for wind turbines is developing due to the region's severe climate objectives and aim to become carbon neutral. The European Union aims for at least 42.5% of the energy mix to come from renewable energy by 2030, the European Commission says. Europe's mature wind industry, with vast onshore and offshore wind farms, is stimulating growth as well as component replacement. The leading role of the region in innovation in wind turbine technology demands higher quality forged components with high performance. Germany, Denmark, and Spain are among the countries that enjoy public-private partnerships and robust regulations, which enable their forging industries to flourish.
  

The wind turbine forging market in the China is expected to experience significant and promising growth from 2025 to 2034.

• China dominates the Asia-Pacific market with the largest installed wind power capacity in the world. China installed 55.8 GW of wind power capacity in 2022, increasing its installed capacity to over 365 GW, as reported by the National Energy Administration of China. This growth is being driven by China's drive for renewable energy and mega wind farm projects, but manufactured turbine parts drove the high demand. An individual can expect Southeast Asia and India to become more high-growth markets with growing energy demands, government-sponsored renewable energy initiatives, and more investment in onshore wind farms. The region's low-cost manufacturing base and labor pool make it an attractive location for global OEMs to source forged parts, thereby enhancing the local forging industry.
  

Wind Turbine Forging Market Share

• The demand for wind turbine forgings is dominated by the industry leaders such as Siemens Gamesa Renewable Energy, General Electric (GE) Renewable Energy, Nordex SE, Suzlon Energy, and Mitsubishi Heavy Industries (MHI). These firms have diverse methods to compete. Siemens Gamesa has different methods through which it competes. These include manufacturing high-efficient turbines, developing their offshore wind segment, joint ventures, and establishing production at local levels to address local requirements.
  
• GE Renewable Energy invests in leading-edge turbine design, develops globally, and inspects quality by making principal components internally. Nordex focuses on offering tailored solutions, competitive costs, and expansion in Europe and developing markets and enhancing turbine efficiency via R&D. Suzlon Energy focuses on price competitiveness, lean manufacturing, and local manufacturing to boost Indian and other emerging market supply chains.
  

Wind Turbine Forging Market Companies

Major players operating in the wind turbine forging industry are:

• Bharat Forge
• Bruck
• China First Heavy Industries
• Dongfeng Forging
• Ellwood Group
• Fountain town Forge
• Forgital Group
• Iraeta Energy Equipment
• Jiangsu Pacific Precision Forging
• Larsen & Toubro
• Samuel, Son & Co.
• Scot Forge
• Thyssenkrupp
• VDM Metals
• VIC Forgings
  

Bruck and China First Heavy Industries employ open as well as closed die forging to make heavy-duty parts such as shafts and bearings. Ellwood Group and Forgital Group apply the three forging methods to produce turbine components such as shafts, gears, and hubs. Fountaintown Forge, Samuel, Son & Co., and VDM Metals apply open die forging to produce large components such as shafts and rings for onshore turbines. Iraeta Energy Equipment and Jiangsu Pacific Precision Forging apply open and closed die forging to produce components such as shafts, flanges, and hubs.

Scot Forge, Thyssenkrupp, and Larsen & Toubro adhere to performance and quality while making strong components such as gears, shafts, and flanges using both forging techniques. VIC Forgings employs open die forging to manufacture large-diameter components such as shafts and rings used for onshore and offshore platforms. Simply, open die forging is applied in the production of large, tough turbine components and closed die as well as seamless rolled ring forging to produce more accurate parts.

Wind Turbine Forging Industry News

• In February 2025, Venterra Group and Tonkin + Taylor forge strategic alliance to power offshore wind development in Australia and New Zealand. Combining Venterra's global expertise in entire life cycle offshore wind solutions with Tonkin + Taylor’s deep regional knowledge and wide-ranging engineering capabilities, the alliance is set to deliver world-class projects and accelerate the region's clean energy transition.
  
• In 2024, US Company Plans to Produce ‘100% Made in USA’ Offshore Wind Turbine Towers from 2026.US company US Forged Rings has revealed plans for an offshore wind turbine tower fabrication facility that would be operational in 2026 and a steel forging plant that would go into operation the following year. The company, which will invest USD 700 million in the two new facilities on the US East Coast, says it is in the final stages of evaluating locations with a decision expected soon.
  
• In December 2022, Bharat Forged started to supply of forging utilizing Green Steel. This steel is manufactured Saarloha Advanced Materials Private Limited (Saarloha).
  

The wind turbine forging market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue ($ Mn/Bn) and shipment (Units) from 2021 to 2034, for the following segments:

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Market, By Type

• Open die forging
• Seamless rolled ring
• Closed die forging

Market By Component

• Flanges
• Gears
• Shafts
• Blades
• Bearings
• Others

Market, By Material

• Steel alloys
• Aluminium alloys
• Composite materials
• Other materials

Market, By Application

• Onshore installation
• Offshore installation

Market, By Distribution Channel

• Direct channel
• Indirect channel

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa