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.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Wind Turbine Forging Market Size in 2022: | USD 7.7 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 7.1% |
| 2032 Value Projection: | USD 15.4 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 122 |
| Segments covered: | Type, Component and Region |
| Growth Drivers: |
|
| Pitfalls & Challenges: |
|
Frequently Asked Questions (FAQ) :
Wind Turbine Forging Market Scope
