Global Wind Turbine Forging Market 2026-2035

Description

List of Tables

Wind Turbine Forging Market Size, Share & Trends Analysis Report by Type (Open Die Forging, Seamless Rolled Ring, Closed Die Forging) by Components (Gears, Flanges, Shafts, Blades, Bearings, Others) by Material (Structural Steel, Steel alloys, Carbon Steel, Aluminum alloys, Composite materials, Other), by Application (Onshore Wind Turbine Installation, and Offshore Wind Turbine Installation), Forecast Period (2026-2035)

Industry Overview

Wind turbine forging market was valued at $4.3 billion in 2025 and is projected to reach $8.5 billion by 2035, growing at a CAGR of 7.4% during the forecast period (2026-2035). The global wind turbine forging market is expanding at a fast pace owing to the rising demand for clean and renewable energy, government policies and incentives, decarbonization of industry, rising wind turbine installations, and forged components support efficiency. The government initiatives for net-zero carbon targets and reducing reliance on fossil fuels are accelerating the demand for the wind turbine forging market. The carbon footprint of wind power generation can increase when wind turbines are installed within forested areas such as wind farms. China plays an important role in the market for renewable energy products, manufacturing 82% of wind turbines. Additionally, in 2024, China supplied 39% of wind turbines installed outside China. This robust manufacturing base, spurred by national carbon neutrality goals and green energy policies, continues to generate demand for high-quality forged components important to the world's wind energy supply chain.

Market Dynamics

Surge in Global Wind Power Installations Accelerating Need for Turbine Forgings

The market is driven by rising wind turbine installations across key global regions. According to the World Wind Energy Association (WWEA), in Europe, Germany took the lead in new installations, with 3,2 Gigawatt, bringing total capacity to 69,5 Gigawatt. The Netherlands added large offshore wind farms, increasing its total capacity by 2,8 Gigawatt to 11 Gigawatt. In total, seven European countries exceeded a market volume 1 Gigawatt for new turbines: Germany and the Netherlands, France (2,6 Gigawatt new, now 23,5 Gigawatt), Sweden (2 Gigawatt new, total 16,3 Gigawatt), the United Kingdom (1,4 Gigawatt new, 30,2 Gigawatt in total), Poland (1,4 Gigawatt added, 9,4 Gigawatt overall) and Finland (1,3 Gigawatt additional, overall 6,9 Gigawatt). In New Zealand, three new wind farms were commissioned in 2023, bringing total capacity to 1264 MW. These new installations across several countries directly contribute to increased demand for forged components used in wind turbines, which are essential for supporting the efficiency and durability of the turbines.

Rising Adoption of Open Die Forging for High-Integrity Wind Turbine Components

The expansion of the wind energy sector has propelled the demand for high-integrity turbine components. Open die forging is increasingly recognized as the optimal solution for critical wind turbine parts such as main shafts, gearbox rings, and flanges. It refines the grain structure of metals (ASTM A668 steel), delivering 30% higher fatigue strength compared to cast or machined alternatives (ASM International, 2022). This is critical for turbine components subjected to cyclic loads exceeding 10 million revolutions annually. Forged components exhibit 50% lower failure rates in offshore wind farms, where saltwater corrosion and extreme weather prevail. According to the US Department of Energy, open-die forging initial tooling costs are lower than closed-die forging, reduces material waste by up to 20%.

Market Segmentation

Based on the type, the market is segmented into open die forging, seamless rolled ring, and closed die forging.
Based on the components, the market is segmented into gears, flanges, shafts, blades, bearings, and others.
Based on the material type, the market is segmented into structural steel, steel alloys, carbon steel, aluminum alloys, composite materials, and other materials.
Based on the application, the market is segmented into onshore wind turbine installation, offshore wind turbine installation.

Shafts Hold the Largest Market Share in the Wind Turbine Forging Market

Shafts are the most essential forged components in a wind turbine, liable for transmitting torque from the rotor hub to the gearbox. It has a longer rating life within the same mounting space. It allows keeping the same bearing size for turbines with higher ratings and turbine upgrades. It improves the robustness under mixed lubrication conditions and thus reduces the risk of surface-initiated failures. In June 2025, joint research by Renewable Parts Limited (RPL), SSE Renewables, and the National Manufacturing Institute Scotland (NMIS) has proven the remanufacturing of wind turbine yaw gearbox pinion shafts using advanced additive manufacturing, analysis, and inspection techniques. Such shafts are critical components that enable turbines to continuously face the wind and thus directly impact energy efficiency and uptime. This study has proven that remanufacturing worn or damaged pinion shafts to original or better specifications can reduce CO2 emissions by up to 84 kg per component and avoid steel waste of approximately 42 kg per replacement.

Regional Outlook

The global Wind turbine forging market is further divided by region, including North America (the US and Canada), Europe (the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Asia-Pacific is Leading the Global Wind Turbine Forging Market

Asia-Pacific is leading the wind turbine forging market, driven by China's global leadership and aggressive offshore expansion, rising regional energy demand and urbanization, and policy-driven domestic manufacturing. This increases the need for forged components to support large-scale wind turbine installations. In 2025, China maintained its global leadership in new offshore wind installations for the seventh consecutive year. The country remains the dominant force in the offshore wind sector, accounting for approximately 50% of the total global cumulative capacity, followed by the UK. In September 2025, the installation of all 25 Vestas V174-9.6 MW turbines at Japan's Kitakyushu-Hibikanada offshore wind farm was completed. The construction began in 2023, while the installation of the last turbine was completed at the end of August 2025. The wind farm, which is located off the coast of Kitakyushu City in Fukuoka Prefecture, is set to start operations during Japan's fiscal year 2025. These mega-expansions call for high-strength, fatigue-resistant forged components to ensure reliability for long operational lives, particularly when deployed in offshore conditions under high mechanical stress and corrosion.

Market Players Outlook

The major companies operating in the global wind turbine forging market include GE Bharat Forge, Frisa Industrias, S.A. DE C.V., EUSKAL FORGING, S.A., Larsen & Toubro Limited, Thyssenkrupp AG, among others. Market players are leveraging partnerships, collaborations, mergers, and acquisition strategies for business expansion and innovative product development to maintain their market positioning.

The Report Covers:

Market value data analysis of 2025 and forecast to 2035.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global wind turbine forging market. Based on the availability of data, information related to new products and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2028965

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
Global Wind Turbine Forging Market Sales Analysis - Type | Components | Material Type |Application ($ Million)
Wind Turbine Forging Market Sales Market Sales Performance of Top Countries
1.1. Research Methodology
Primary Research Approach
Secondary Research Approach
1.2. Market Snapshot

2. Market Overview and Insights

2.1. Scope of the Study
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Wind Turbine Forging Market Trends
- 2.2.2. Market Recommendations

3. Market Determinants

3.1. Market Drivers
- 3.1.1. Drivers For Global Wind Turbine Forging Market: Impact Analysis
3.2. Market Pain Points and Challenges
- 3.2.1. Restraints For Global Wind Turbine Forging Market: Impact Analysis
3.3. Market Opportunities
- 3.3.1. Opportunities For Global Wind Turbine Forging Market: Impact Analysis

4. Competitive Landscape

4.1. Competitive Dashboard - Wind Turbine Forging Market Revenue and Share by Manufacturers
Wind Turbine Forging Type Comparison Analysis
Top Market Player Ranking Matrix
4.2. Key Company Analysis
- 4.2.1. Bharat Forge
  - 4.2.1.1. Overview
  - 4.2.1.2. Product Overview
  - 4.2.1.3. Financial Analysis
  - 4.2.1.4. SWOT Analysis
  - 4.2.1.5. Business Strategy
- 4.2.2. Frisa Industrias, S.A. DE C.V.
  - 4.2.2.1. Overview
  - 4.2.2.2. Product Overview
  - 4.2.2.3. Financial Analysis
  - 4.2.2.4. SWOT Analysis
  - 4.2.2.5. Business Strategy
- 4.2.3. EUSKAL FORGING, S.A.
  - 4.2.3.1. Overview
  - 4.2.3.2. Product Overview
  - 4.2.3.3. Financial Analysis
  - 4.2.3.4. SWOT Analysis
  - 4.2.3.5. Business Strategy
- 4.2.4. Thyssenkrupp AG
  - 4.2.4.1. Overview
  - 4.2.4.2. Product Overview
  - 4.2.4.3. Financial Analysis
  - 4.2.4.4. SWOT Analysis
  - 4.2.4.5. Business Strategy
4.3. Top Winning Strategies by Market Players
- 4.3.1. Merger and Acquisition
- 4.3.2. Product Launch
- 4.3.3. Partnership And Collaboration

5. Global Wind Turbine Forging Market Sales Analysis By Type ($ Million)

5.1. Open Die Forging
5.2. Seamless Rolled Ring
5.3. Closed Die Forging

6. Global Wind Turbine Forging Market Sales Analysis By Components ($ Million)

6.1. Gears
6.2. Flanges
6.3. Shafts
6.4. Blades
6.5. Bearings
6.6. Others

7. Global Wind Turbine Forging Market Sales Analysis By Material Type ($ Million)

7.1. Structural Steel
7.2. Steel alloys
7.3. Carbon Steel
7.4. Aluminium alloys
7.5. Composite materials
7.6. Other

8. Global Wind Turbine Forging Market Sales Analysis By Application ($ Million)

8.1. Onshore Wind Turbine Installation
8.2. Offshore Wind Turbine Installation

9. Regional Analysis

9.1. North American Wind Turbine Forging Market Sales Analysis - Type | Components | Material Type |Application | Country ($ Million)
Macroeconomic Factors for North America
- 9.1.1. United States
- 9.1.2. Canada
9.2. European Wind Turbine Forging Market Sales Analysis - Type | Components | Material Type |Application | Country ($ Million)
Macroeconomic Factors for Europe
- 9.2.1. UK
- 9.2.2. Germany
- 9.2.3. Italy
- 9.2.4. Spain
- 9.2.5. France
- 9.2.6. Russia
- 9.2.7. Rest of Europe
9.3. Asia-Pacific Wind Turbine Forging Market Sales Analysis - Type | Components | Material Type |Application | Country ($ Million)
Macroeconomic Factors for Asia-Pacific
- 9.3.1. China
- 9.3.2. Japan
- 9.3.3. South Korea
- 9.3.4. India
- 9.3.5. Australia & New Zealand
- 9.3.6. ASEAN Countries (Thailand, Indonesia, Vietnam, Singapore, And Other)
- 9.3.7. Rest of Asia-Pacific
9.4. Rest of the World Wind Turbine Forging Market Sales Analysis - Type | Components | Material Type |Application | Country ($ Million)
Macroeconomic Factors for the Rest of the World
- 9.4.1. Latin America
- 9.4.2. Middle East and Africa

10. Company Profiles

10.1. BW Ideol
- 10.1.1. Quick Facts
- 10.1.2. Company Overview
- 10.1.3. Product Portfolio
- 10.1.4. Business Strategies
10.2. Bharat Forge
- 10.2.1. Quick Facts
- 10.2.2. Company Overview
- 10.2.3. Product Portfolio
- 10.2.4. Business Strategies
10.3. Bruck GmbH
- 10.3.1. Quick Facts
- 10.3.2. Company Overview
- 10.3.3. Product Portfolio
- 10.3.4. Business Strategies
10.4. Celsa Opco, S.A.U.
- 10.4.1. Quick Facts
- 10.4.2. Company Overview
- 10.4.3. Product Portfolio
- 10.4.4. Business Strategies
10.5. CHW Forge Private Limited
- 10.5.1. Quick Facts
- 10.5.2. Company Overview
- 10.5.3. Product Portfolio
- 10.5.4. Business Strategies
10.6. EUSKAL FORGING, S.A.
- 10.6.1. Quick Facts
- 10.6.2. Company Overview
- 10.6.3. Product Portfolio
- 10.6.4. Business Strategies
10.7. Ferralloy Inc.
- 10.7.1. Quick Facts
- 10.7.2. Company Overview
- 10.7.3. Product Portfolio
- 10.7.4. Business Strategies
10.8. Forged Products
- 10.8.1. Quick Facts
- 10.8.2. Company Overview
- 10.8.3. Product Portfolio
- 10.8.4. Business Strategies
10.9. Frisa Industrias, S.A. DE C.V.
- 10.9.1. Quick Facts
- 10.9.2. Company Overview
- 10.9.3. Product Portfolio
- 10.9.4. Business Strategies
10.10. Gerdau S/A
- 10.10.1. Quick Facts
- 10.10.2. Company Overview
- 10.10.3. Product Portfolio
- 10.10.4. Business Strategies
10.11. Haihao group
- 10.11.1. Quick Facts
- 10.11.2. Company Overview
- 10.11.3. Product Portfolio
- 10.11.4. Business Strategies
10.12. Happy Forgings
- 10.12.1. Quick Facts
- 10.12.2. Company Overview
- 10.12.3. Product Portfolio
- 10.12.4. Business Strategies
10.13. Iraeta Energy Equipment Co., LTD
- 10.13.1. Quick Facts
- 10.13.2. Company Overview
- 10.13.3. Product Portfolio
- 10.13.4. Business Strategies
10.14. Larsen & Toubro Ltd
- 10.14.1. Quick Facts
- 10.14.2. Company Overview
- 10.14.3. Product Portfolio
- 10.14.4. Business Strategies
10.15. Qingdao Donrex Co., Ltd
- 10.15.1. Quick Facts
- 10.15.2. Company Overview
- 10.15.3. Product Portfolio
- 10.15.4. Business Strategies
10.16. Scot Forge Company
- 10.16.1. Quick Facts
- 10.16.2. Company Overview
- 10.16.3. Product Portfolio
- 10.16.4. Business Strategies
10.17. Specialty Ring Products, Inc.
- 10.17.1. Quick Facts
- 10.17.2. Company Overview
- 10.17.3. Product Portfolio
- 10.17.4. Business Strategies
10.18. Taewoong Co., Ltd
- 10.18.1. Quick Facts
- 10.18.2. Company Overview
- 10.18.3. Product Portfolio
- 10.18.4. Business Strategies
10.19. Thyssenkrupp AG
- 10.19.1. Quick Facts
- 10.19.2. Company Overview
- 10.19.3. Product Portfolio
- 10.19.4. Business Strategies
10.20. Tongyu Heavy Industry Co., Ltd
- 10.20.1. Quick Facts
- 10.20.2. Company Overview
- 10.20.3. Product Portfolio
- 10.20.4. Business Strategies
10.21. ULMA Forged Solution
- 10.21.1. Quick Facts
- 10.21.2. Company Overview
- 10.21.3. Product Portfolio
- 10.21.4. Business Strategies