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A wind turbine is a device that aids in converting the kinetic energy of wind into usable power. Casting refers to an industrial method of pouring liquid material into a mould which contains a hollow cavity of desired shape and then liquid metal is allowed to solidify. A wind turbine casting refers to components that are cast or molded to specifications all of which are then assembled to form wind energy systems. The components of wind turbines vary as per requirements, deployment area or location, type as well as required output size height and various other factors. The primary parts that undergo casting include axel pins, rotor hubs, and main carriers. However, its competitor solar energy has witnessed significant growth over the past few years as a renewable source of energy and it is one of the factors that is expected to hinder the growth of the market. Also, the high installation and maintenance cost is an obstacle for the market growth.
Covid-19 Impact AnalysisÂ
Top Impacting Factors
The increase in demand for wind turbine casting is because of its ability to help in high creep resistance and developing composite components in rotor hubs as they are subjected to high stress and their role as a component in a fitting turbine is one of the major factors driving the wind turbine casting market. The rise in the number of installations in offshore applications in countries including United Kingdom, Germany, China Netherlands, Japan and
Denmark and high adoption of these products owing to longer lifespan and lower maintenance cost accelerate the market growth. The expanding trend of preference for eco-friendly energy, combined with increasing technological advancements are expected to create a revenue opportunity for the players of this market in the upcoming future.
Market trends
Key Benefits of the Report
This study presents the analytical depiction of the wind turbine Casting industry along with the current trends and future estimations to determine the imminent investment pockets.
Wind Turbine Casting Market Report Highlights
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Key Market Players | Suzlon Energy Limited, Mingyang Smart Energy Group Co., Ltd., DHI DCW Group Co., Ltd., Vestas, Inoxwind, DEC, juwi AG, Vestas Co., Premier Heavy Engineering Ltd., AEROVIDE, GmbH, Sinovel Ltd., Sinovel Wind Group Co., Ltd., ENERCON |
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