Home > Industrial Machinery > Industrial Equipment > Pumps > Wind Turbine Forging Market

Wind Turbine Forging Market Size

  • Report ID: GMI5706
  • Published Date: May 2023
  • Report Format: PDF

Wind Turbine Forging Market Size

Wind Turbine Forging Market size surpassed USD 7.7 billion in 2022 and is anticipated to register 7.1% CAGR from 2023 to 2032. The demand for offshore wind energy cost reductions, targets for net zero emissions by 2050, and the exceptional increase in wind capacity are the factors driving industry growth. The sector will grow in the next few years due to the increasing wind turbine installations in North America and Asia Pacific.


The International Energy Agency (IEA) reported that the global wind electricity generation experienced the fastest growth rate of any renewable energy technology in 2022 compared to 2021 with a 55% increase. The increasing awareness regarding electricity generation from wind turbines will create a demand for wind turbine. The growing wind turbine production will positively impact the wind turbine forging market.


Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

The market size of wind turbine forging exceeded USD 7.7 billion in 2022 and is expected to witness 7.1% CAGR during 2023 to 2032 due to the surging need for offshore wind energy cost reductions.

The flanges component type in wind turbine forging industry will gain significnat traction between 2023 and 2032 owing to rising usage for connecting specialty products, valves, and fittings.

Demand for wind turbine forging in the U.S. reached USD 700 million in 2022 and will expand through 2023 driven by the increasing number of product launches, partnerships, mergers, and collaborations in the country.

Some of the leading wind turbine forging industry players include A. Finkl & Sons Steel, Bharat Forge Limited, CIE Automotive, S.A., Farinia Group, GKN Aerospace (Melrose Industries), Iraeta Energy Equipment Co., Ltd., Nippon Steel Corporation.

Wind Turbine Forging Market Scope

Buy Now

Premium Report Details

  • Base Year: 2022
  • Companies covered: 15
  • Tables & Figures: 122
  • Countries covered: 20
  • Pages: 250
 Download Free Sample