The Europe wind turbine forging market is expected to grow from US$ 1,420.93 million in 2022 to US$ 2,216.05 million by 2028. It is estimated to grow at a CAGR of 7.7% from 2022 to 2028.
Rising Government Initiatives to Reduce CO2 Emission and Carbon Footprint is Driving Europe 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 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 Europe wind turbine forging market .Europe Wind Turbine Forging Market Overview
The growing demand for wind energy has led to increased installations of wind turbines across Europe. Recently, there has been a growing demand for several sets of wind power flanges for onshore and offshore wind turbines in Europe. Spanish manufacturer IRAETA is one of the leading suppliers of wind power flanges and related products for the distributed offshore wind power project in Europe. IRAETA flanges are increasingly being used in more than ten 8 MW European offshore wind turbines. The company is a leading supplier of wind power flanges for wind farms located in southwestern Norway. The UK, Sweden, Germany, Turkey, and the Netherlands have the most newly installed capacities in Europe. In 2021, Sweden installed the highest number of new onshore wind turbine (2.1 GW), and the UK installed the highest number of new offshore wind turbine (2.3 GW). Therefore, the rising high-capacity wind turbine installation to meet the European Union’s new 40% renewable energy target is propelling the Europe wind turbine forging market .Europe Wind Turbine Forging Market Segmentation
The Europe wind turbine forging market is segmented into type, component, and country.- Based on type, the Europe 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 Europe 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 Europe wind turbine forging market is segmented into France, Germany, Italy, UK, Russia, and the Rest of Europe. Germany dominated the market share in 2022.
Table of Contents
1. Introduction1.1 Scope of the Study
1.2 Research Report Guidance
1.3 Market Segmentation
1.3.1 Europe Wind Turbine Forging Market - By Type
1.3.2 Europe Wind Turbine Forging Market - By Component
1.3.3 Europe Wind Turbine Forging Market - By Country
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Wind Turbine Forging Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe 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-capacity 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 - Europe Market Analysis
6.1 Europe Wind Turbine Forging Market Overview
6.2 Europe Wind Turbine Forging Market Forecast and Analysis
7. Europe Wind Turbine Forging Market - by Type
7.1 Overview
7.2 Europe Wind Turbine Forging Market, By Type (2021 and 2028)
7.3 Seamless Rolled Ring
7.3.1 Overview
7.3.2 Seamless Rolled Ring: Europe 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: Europe Wind Turbine Forging Market Revenue and Forecast To 2028 (US$ Million)
8. Europe Wind Turbine Forging Market - by Component
8.1 Overview
8.2 Europe Wind Turbine Forging Market, By Component (2021 and 2028)
8.3 Flanges
8.3.1 Overview
8.3.2 Flanges: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
8.4 Blades
8.4.1 Overview
8.4.2 Blades: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
8.5 Bearings
8.5.1 Overview
8.5.2 Bearings: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
8.6 Gears
8.6.1 Overview
8.6.2 Gears: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
8.7 Shafts
8.7.1 Shafts: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
8.8 Others
8.8.1 Others: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
9. Europe Wind Turbine Forging Market - Country Analysis
9.1 Overview
9.1.1 Europe: Wind Turbine Forging, by Key Country
9.1.1.1 France: Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 France: Wind Turbine Forging Market, By Type
9.1.1.1.2 France: Wind Turbine Forging Market, By Component
9.1.1.2 Germany: Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Germany: Wind Turbine Forging Market, By Type
9.1.1.2.2 Germany: Wind Turbine Forging Market, By Component
9.1.1.3 UK: Wind Turbine Forging Market- Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 UK: Wind Turbine Forging Market, By Type
9.1.1.3.2 UK: Wind Turbine Forging Market, By Component
9.1.1.4 Italy: Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 Italy: Wind Turbine Forging Market, By Type
9.1.1.4.2 Italy: Wind Turbine Forging Market, By Component
9.1.1.5 Russia: Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 Russia: Wind Turbine Forging Market, By Type
9.1.1.5.2 Russia: Wind Turbine Forging Market, By Component
9.1.1.6 Rest of Europe: Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Europe: Wind Turbine Forging Market, By Type
9.1.1.6.2 Rest of Europe: Wind Turbine Forging Market, By Component
10. Industry Landscape
10.1 Overview
10.2 Market Initiative
11. Company Profiles
11.1 Frisa Industrias SA de CV
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 Iraeta Energy Equipment Co Ltd
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 ULMA Forja S Coop
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 Celsa Armeringsstal AS
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 Bharat Forge Ltd
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 Bruck GmbH
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 Gerdau Summit Aços Fundidos e Forjados SA
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
12. Appendix
12.1 About the Publisher
12.2 Glossary
Table 1. Europe Wind Turbine Forging Market, Revenue and Forecast, 2019-2028 (US$ Mn)
Table 2. France: Wind Turbine Forging Market, By Type -Revenue and Forecast to 2028 (US$ Million)
Table 3. France: Wind Turbine Forging Market, By Component -Revenue and Forecast to 2028 (US$ Million)
Table 4. Germany: Wind Turbine Forging Market, By Type -Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: Wind Turbine Forging Market, By Component -Revenue and Forecast to 2028 (US$ Million)
Table 6. UK: Wind Turbine Forging Market, By Type -Revenue and Forecast to 2028 (US$ Million)
Table 7. UK: Wind Turbine Forging Market, By Component -Revenue and Forecast to 2028 (US$ Million)
Table 8. Italy: Wind Turbine Forging Market, By Type -Revenue and Forecast to 2028 (US$ Million)
Table 9. Italy: Wind Turbine Forging Market, By Component -Revenue and Forecast to 2028 (US$ Million)
Table 10. Russia: Wind Turbine Forging Market, By Type -Revenue and Forecast to 2028 (US$ Million)
Table 11. Russia: Wind Turbine Forging Market, By Component -Revenue and Forecast to 2028 (US$ Million)
Table 12. Rest of Europe: Wind Turbine Forging Market, By Type -Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Europe: Wind Turbine Forging Market, By Component -Revenue and Forecast to 2028 (US$ Million)
Table 14. Glossary of Terms, Europe Wind Turbine Forging Market
Figure 1. Europe Wind Turbine Forging Market Segmentation
Figure 2. Europe Wind Turbine Forging Market Segmentation - Country
Figure 3. Europe Wind Turbine Forging Market Overview
Figure 4. Europe Wind Turbine Forging Market, By Component
Figure 5. Europe Wind Turbine Forging Market, By Country
Figure 6. Europe: PEST Analysis
Figure 7. Europe Wind Turbine Forging Market Ecosystem Analysis
Figure 8. Expert Opinion
Figure 9. Europe Wind Turbine Forging Market Impact Analysis of Drivers and Restraints
Figure 10. Europe Wind Turbine Forging Market, Forecast and Analysis (US$ Mn)
Figure 11. Europe Wind Turbine Forging Market, By Type (2021 and 2028)
Figure 12. Seamless Rolled Ring: Europe Wind Turbine Forging Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. Open Die Forging: Europe Wind Turbine Forging Market Revenue and Forecast to 2028 (US$ Million)
Figure 14. Europe Wind Turbine Forging Market, By Component (2021 and 2028)
Figure 15. Flanges: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 16. Blades: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 17. Bearings: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 18. Gears: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 19. Shafts: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 20. Others: Europe Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 21. Europe: Wind Turbine Forging Market, by Key Country - Revenue (2021) (US$ Million)
Figure 22. Europe: Wind Turbine Forging Revenue Share, by Key Country (2021 and 2028)
Figure 23. France: Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 24. Germany: Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 25. UK: Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 26. Italy: Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 27. Russia: Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Figure 28. Rest of Europe: Wind Turbine Forging Market - Revenue and Forecast to 2028 (US$ Million)
Companies Mentioned
- 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
- ULMA Forja S Coop
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 97 |
| Published | January 2023 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value ( USD | $ 1420.93 Million |
| Forecasted Market Value ( USD | $ 2216.05 Million |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | Europe |
| No. of Companies Mentioned | 7 |
