Asia Pacific Wind Turbine Forging Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Seamless Rolled Ring and Open Die Forging) and Component (Flanges, Blades, Bearings, Gears, Shafts, and Others)   

Code: BMIRE00027863 | Pages: 106 | Industry: Manufacturing and Construction | Date: Jan 2023 | Type: Regional

The Asia Pacific wind turbine forging market is expected to grow from US$ 3,795.16 million in 2022 to US$ 6,204.06 million by 2028. It is estimated to grow at a CAGR of 8.5% from 2022 to 2028.  

 

Rising Government Initiatives to Reduce CO2 Emission and Carbon Footprint is Driving Asia Pacific Wind Turbine Forging Market

Governments of various countries are concerned about the adverse impacts of a surge in CO2 emissions and carbon footprints across the globe. As a result, they are leveraging the benefits of wind energy to reduce global warming and air pollution. The wind power has the potential to enable a sustainable future, and with the rising demand for energy, the availability of greener energy is likely to become a critical prerequisite. The Government of India is boosting its green energy production capacity through high-capacity wind turbine installations as part of its commitment to the Green Energy Future. Furthermore, with the target of becoming a Net Zero Carbon Emitter by 2030, India is also bolstering its lending capacity and commitment to help local authorities achieve the country’s renewable energy targets of 450 GW. In addition, the Indian government’s offshore Wind Energy Policy emphasizes harnessing the potential of offshore wind energy along India’s coastlines. The Ministry of New and Renewable Energy is focused on the installation of offshore wind turbines off the coast of Indian cities. In agreement with its wind-solar hybrid policy 2018, the ministry is also promoting the establishment of large grid connected wind-solar hybrid projects for achieving better grid stability and reduction of carbon emissions. Offshore wind turbine addresses climate change by generating near limitless clean energy burning fossil fuels. The utilization of wind energy helps reduce air pollution. The rising risks of climate change have led to the expansion of wind turbine deployment to reduce carbon footprints. Wind energy capacity is witnessing a significant surge across the, owing to the use of highly engineered parts that provide the highest levels of efficiency during the manufacturing processes. As a result, the growing demand for wind energy to support sustainable development by decreasing CO2 emissions is propelling the wind turbine forging market growth. Such factors are driving the growth of the Asia Pacific wind turbine forging market.  

  

Asia Pacific Wind Turbine Forging Market Overview

 

Asia Pacific is expected to lead the global wind turbine market in the coming years. According to industry experts, the region will account for an increased annual wind turbine installation capacity of by 2023. Increased onshore deployment, growing needs to address electricity demand, supportive government policies, feed-in tariffs (FiTs), and financial incentives are bolstering the Asia Pacific wind turbine market growth. In addition to high-capacity wind turbine installations, Asia Pacific is witnessing rapid industrialization, manufacturing automation, and advanced metal forging techniques, including complex metal forging and shaping components. The Ministry of Heavy Industries & Public Enterprises in India is supporting the use of metal forging as a key contributor to the overall manufacturing sector, thereby creating a demand for the forged product in the region. Such factors are promoting the growth of the Asia Pacific wind turbine forging market.

 

Asia Pacific Wind Turbine Forging Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Wind Turbine Forging Market Revenue and Forecast to 2028 (US$ Million)

Get more information on this report :

Asia Pacific Wind Turbine Forging Market Segmentation  

The Asia Pacific wind turbine forging market is segmented into type, component, and country.

 

Based on type, the Asia Pacific wind turbine forging market is bifurcated into seamless rolled ring and open die forging. The open die forging segment registered the largest market share in 2022. 

 

Based on component, the Asia Pacific wind turbine forging market is segmented into flanges, blades, bearings, gears, shafts, and others. The flanges segment held the largest market share in 2022. 

 

Based on country, the Asia Pacific wind turbine forging market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. China dominated the market share in 2022.    

 

Bharat Forge Ltd, Bruck GmbH, Celsa Armeringsstal AS, Frisa Industrias SA de CV, Gerdau Summit Aços Fundidos e Forjados SA, Iraeta Energy Equipment Co Ltd, Scot Forge Co, Specialty Ring Products Inc, Tongyu Heavy Industry Co Ltd, and ULMA Forja S Coop are the leading companies operating in the Asia Pacific wind turbine forging market.

1.           Introduction

1.1         Scope of the Study

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        Asia Pacific Wind Turbine Forging Market – By Type

1.3.2        Asia Pacific Wind Turbine Forging Market – By Component

1.3.3        Asia Pacific Wind Turbine Forging Market – By Country

2.           Key Takeaways

3.        Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           Asia Pacific Wind Turbine Forging Market Landscape

4.1         Market Overview

4.2         Asia Pacific PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinion

5.           Asia Pacific Wind Turbine Forging Market - Key Market Dynamics

5.1         Market Drivers

5.1.1        Rising Demand for High-Performance Wind Turbine Parts

5.1.2        Rising Government Initiatives to Reduce CO2 Emission and Carbon Footprint

5.2         Market Restraints

5.2.1        High Initial Costs of Metal Forging

5.3         Market Opportunities

5.3.1        Rising Installations of High-cAsia Pacificity Wind Turbines

5.4         Future Trends

5.4.1        Advent of Computer-Aided Engineering in Wind Turbine Forging

5.5         Impact Analysis of Drivers and Restraints

6.           Wind Turbine Forging Market – Asia Pacific Market Analysis

6.1         Asia Pacific Wind Turbine Forging Market Overview

6.2         Asia Pacific Wind Turbine Forging Market Forecast and Analysis

7.           Asia Pacific Wind Turbine Forging Market – by Type

7.1         Overview

7.2         Asia Pacific Wind Turbine Forging Market, By Type (2021 and 2028)

7.3         Seamless Rolled Ring

7.3.1        Overview

7.3.2        Seamless Rolled Ring: Asia Pacific Wind Turbine Forging Market Revenue and Forecast To 2028 (US$ Million)

7.4         Open Die Forging

7.4.1        Overview

7.4.2        Open Die Forging: Asia Pacific Wind Turbine Forging Market Revenue and Forecast To 2028 (US$ Million)

8.           Asia Pacific Wind Turbine Forging Market - by Component

8.1         Overview

8.2         Asia Pacific Wind Turbine Forging Market, By Component (2021 and 2028)

8.3         Flanges

8.3.1        Overview

8.3.2        Flanges: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

8.4         Blades

8.4.1        Overview

8.4.2        Blades: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

8.5         Bearings

8.5.1        Overview

8.5.2        Bearings: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

8.6         Gears

8.6.1        Overview

8.6.2        Gears: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

8.7         Shafts

8.7.1        Shafts: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

8.8         Others

8.8.1        Others: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

9.           Asia Pacific Wind Turbine Forging Market – Country Analysis

9.1         Overview

9.1.1        Asia Pacific: Wind Turbine Forging Market, by Key Country

9.1.1.1          China: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.1          China: Wind Turbine Forging Market, By Type

9.1.1.1.2          China: Wind Turbine Forging Market, By Component

9.1.1.1.3          Japan: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.1.4          Japan: Wind Turbine Forging Market, By Type

9.1.1.1.5          Japan: Wind Turbine Forging Market, By Component

9.1.1.2          India: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.2.1          India: Wind Turbine Forging Market, By Type

9.1.1.2.2          India: Wind Turbine Forging Market, By Component

9.1.1.3          South Korea: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.3.1          South Korea: Wind Turbine Forging Market, By Type

9.1.1.3.2          South Korea: Wind Turbine Forging Market, By Component

9.1.1.4          Australia: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.4.1          Australia: Wind Turbine Forging Market, By Type

9.1.1.4.2          Australia: Wind Turbine Forging Market, By Component

9.1.1.5          Rest of Asia Pacific: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

9.1.1.5.1          Rest of Asia Pacific: Wind Turbine Forging Market, By Type

9.1.1.5.2          Rest of Asia Pacific: Wind Turbine Forging Market, By Component

10.        Industry Landscape

10.1      Overview

10.2      Market Initiative

11.        Company Profiles

11.1      Scot Forge Co

11.1.1     Key Facts

11.1.2     Business Description

11.1.3     Products and Services

11.1.4     Financial Overview

11.1.5     SWOT Analysis

11.1.6     Key Developments

11.2      Frisa Industrias SA de CV

11.2.1     Key Facts

11.2.2     Business Description

11.2.3     Products and Services

11.2.4     Financial Overview

11.2.5     SWOT Analysis

11.2.6     Key Developments

11.3      Iraeta Energy Equipment Co Ltd

11.3.1     Key Facts

11.3.2     Business Description

11.3.3     Products and Services

11.3.4     Financial Overview

11.3.5     SWOT Analysis

11.3.6     Key Developments

11.4      ULMA Forja S Coop

11.4.1     Key Facts

11.4.2     Business Description

11.4.3     Products and Services

11.4.4     Financial Overview

11.4.5     SWOT Analysis

11.4.6     Key Developments

11.5      Celsa Armeringsstal AS

11.5.1     Key Facts

11.5.2     Business Description

11.5.3     Products and Services

11.5.4     Financial Overview

11.5.5     SWOT Analysis

11.5.6     Key Developments

11.6      Bharat Forge Ltd

11.6.1     Key Facts

11.6.2     Business Description

11.6.3     Products and Services

11.6.4     Financial Overview

11.6.5     SWOT Analysis

11.6.6     Key Developments

11.7      Specialty Ring Products Inc

11.7.1     Key Facts

11.7.2     Business Description

11.7.3     Products and Services

11.7.4     Financial Overview

11.7.5     SWOT Analysis

11.7.6     Key Developments

11.8      Tongyu Heavy Industry Co Ltd

11.8.1     Key Facts

11.8.2     Business Description

11.8.3     Products and Services

11.8.4     Financial Overview

11.8.5     SWOT Analysis

11.8.6     Key Developments

11.9      Bruck GmbH

11.9.1     Key Facts

11.9.2     Business Description

11.9.3     Products and Services

11.9.4     Financial Overview

11.9.5     SWOT Analysis

11.9.6     Key Developments

11.10   Gerdau Summit Aços Fundidos e Forjados SA

11.10.1  Key Facts

11.10.2  Business Description

11.10.3  Products and Services

11.10.4  Financial Overview

11.10.5  SWOT Analysis

11.10.6  Key Developments

12.        Appendix

12.1      About The Insight Partners

12.2      Glossary

 

 

LIST OF TABLES

Table 1.             Asia Pacific Wind Turbine Forging Market, Revenue and Forecast, 2019–2028 (US$ Mn)

Table 2.             China: Wind Turbine Forging Market, By Type –Revenue and Forecast to 2028 (US$ Million)

Table 3.             China: Wind Turbine Forging Market, By Component –Revenue and Forecast to 2028 (US$ Million)

Table 4.             Japan: Wind Turbine Forging Market, By Type –Revenue and Forecast to 2028 (US$ Million)

Table 5.             Japan: Wind Turbine Forging Market, By Component –Revenue and Forecast to 2028 (US$ Million)

Table 6.             India: Wind Turbine Forging Market, By Type –Revenue and Forecast to 2028 (US$ Million)

Table 7.             India: Wind Turbine Forging Market, By Component –Revenue and Forecast to 2028 (US$ Million)

Table 8.             South Korea: Wind Turbine Forging Market, By Type –Revenue and Forecast to 2028 (US$ Million)

Table 9.             South Korea: Wind Turbine Forging Market, By Component –Revenue and Forecast to 2028 (US$ Million)

Table 10.          Australia: Wind Turbine Forging Market, By Type –Revenue and Forecast to 2028 (US$ Million)

Table 11.          Australia: Wind Turbine Forging Market, By Component –Revenue and Forecast to 2028 (US$ Million)

Table 12.          Rest of Asia Pacific: Wind Turbine Forging Market, By Type –Revenue and Forecast to 2028 (US$ Million)

Table 13.          Rest of Asia Pacific: Wind Turbine Forging Market, By Component –Revenue and Forecast to 2028 (US$ Million)

Table 14.          Glossary of Terms, Asia Pacific Wind Turbine Forging Market

 

 

LIST OF FIGURES

Figure 1.           Asia Pacific Wind Turbine Forging Market Segmentation

Figure 2.           Asia Pacific Wind Turbine Forging Market Segmentation – Country

Figure 3.           Asia Pacific Wind Turbine Forging Market Overview

Figure 4.           Asia Pacific Wind Turbine Forging Market, By Component

Figure 5.           Asia Pacific Wind Turbine Forging Market, By Country

Figure 6.           Asia Pacific: PEST Analysis

Figure 7.           Asia Pacific Wind Turbine Forging Market Ecosystem Analysis

Figure 8.           Expert Opinion

Figure 9.           Asia Pacific Wind Turbine Forging Market Impact Analysis of Drivers and Restraints

Figure 10.        Asia Pacific Wind Turbine Forging Market, Forecast and Analysis (US$ Mn)

Figure 11.        Asia Pacific Wind Turbine Forging Market, By Type (2021 and 2028)

Figure 12.        Seamless Rolled Ring: Asia Pacific Wind Turbine Forging Market Revenue and Forecast to 2028 (US$ Million)

Figure 13.        Open Die Forging: Asia Pacific Wind Turbine Forging Market Revenue and Forecast to 2028 (US$ Million)

Figure 14.        Asia Pacific Wind Turbine Forging Market, By Component (2021 and 2028)

Figure 15.        Flanges: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

Figure 16.        Blades: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

Figure 17.        Bearings: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

Figure 18.        Gears: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

Figure 19.        Shafts: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

Figure 20.        Others: Asia Pacific Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

Figure 21.        Asia Pacific: Wind Turbine Forging Market – Revenue (2021) (US$ Million)

Figure 22.        Asia Pacific: Wind Turbine Forging Market Revenue Share, by Key Country (2021 and 2028)

Figure 23.        China: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

Figure 24.        Japan: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

Figure 25.        India: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

Figure 26.        South Korea: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27.        Australia: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

Figure 28.          Rest of Asia Pacific: Wind Turbine Forging Market – Revenue and Forecast to 2028 (US$ Million)

  1. Bharat Forge Ltd
  2. Bruck GmbH
  3. Celsa Armeringsstal AS
  4. Frisa Industrias SA de CV
  5. Gerdau Summit Aços Fundidos e Forjados SA
  6. Iraeta Energy Equipment Co Ltd
  7. Scot Forge Co
  8. Specialty Ring Products Inc
  9. Tongyu Heavy Industry Co Ltd
  10. ULMA Forja S Coop
Report Code
Full Name
Country Name
Email Id
Phone Number
Job Title
Company
Requirement

Note : Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.


Purchase Options
Single User License
$3000
Site License
$4000
Enterprise License
$5000