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Due to the demand for energy from renewable sources, the wind turbine gearbox market is anticipated to grow at a 7.5% CAGR from 2023 to 2030 to reach a value of USD 38531.02 million.
The main parts of a wind turbine are the gearboxes. These gears speed up the shaft's rotation using the electric generator. The gearboxes are built in a variety of ways to increase their resilience in response to loads and environmental factors while lowering the gearbox system failure rate. The usage of wind turbines is expanding due to the global shift towards renewable energy sources, which is driving up demand for wind turbine gearboxes.
Globally accelerating urbanisation and industrialization cause demand across all business sectors to increase. Additionally, heightened environmental consciousness encourages the adoption of clean, renewable energy sources, which leads to an increase in the number of wind turbines installed globally. As a result, the market for wind turbine gearboxes is growing globally. Furthermore, market participants will achieve the highest productivity and longevity by investing in better-designed, more efficient gearboxes. Due to their cost-effectiveness and energy efficiency, wind turbine investments are increasing, which is propelling the market's expansion over the study period. Global desire for more energy is what is driving the market for wind turbine gearboxes. Investments in wind turbines are anticipated to drive market expansion over the forecast period due to its cost- and energy-effectiveness. Government assistance for renewable energy initiatives might also benefit the market. Low wind energy production costs and alluring profits promised by onshore wind projects serve as evidence for this.
For wind turbines, the cost of operation and maintenance is very high and accounts for more than 30% of the overall cost. After the wind turbine is installed, it is important to regularly inspect such turbines. Generator and gearbox are the two essential and difficult parts of a turbine. For these components to function properly and live a longer lifespan, operation and maintenance tasks are essential. Failure is possible without proper maintenance, which increases downtime. The upkeep of the gearbox is a very pricy and difficult process. In most cases, it is better to replace the gearbox. The market's potential expansion throughout the projection period may be hampered by the high cost of operation and maintenance.
In order to extend the lifespan of wind turbines, Shell introduced gearbox oil. In the US, Shell Lubricants has introduced a new synthetic gearbox oil for wind turbines. A partnership between GE Renewable Energy, Toshiba Energy Solutions, and Solutions Corporation was launched in order to support the commercialization of the GE Haliade X offshore wind turbine in Japan by localising key manufacturing processes. For wind projects totaling 110 megawatts in India, GE Renewable Energy announced that they would provide 42 units of 2.7-132 onshore wind turbines. These turbines will enable Gujarat and Karnataka's major industrial enterprises satisfy their electricity needs.
Wind turbine gears are crucial parts of the machines that speed up their spinning. Manufacturers are quickly altering gearbox designs to boost their resilience in response to loads and environmental factors. At MRFR, our research analysts create market reports by abiding by a strict set of principles that enable a genuinely comprehensive perspective of the industry. They undertake a thorough, objective analysis of the market. The use of primary research techniques, such as interviewing CEOs and other senior management figures, has produced extremely pertinent data. Secondary research comprises a thorough examination of recent and historical trends that are presented in a prospective way.
Report Coverage
Global Wind Turbine Gearbox research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Wind Turbine Gearbox report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Wind Turbine Gearbox competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Wind Turbine Gearbox market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Wind Turbine Gearbox market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Wind Turbine Gearbox market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Siemens Gamesa Renewable Energy S.A. (Spain), Winergy AG (Germany), China High Speed Transmission Equipment Group Co. Ltd. (China), ZF Friedrichshafen (Germany), Chongqing Gearbox Co., Ltd. (China), Eickhoff Antriebstechnik GmbH (Germany), ISHIBASHI Manufacturing Co. Ltd. (Japan), and RENK AG (Germany)
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Wind Turbine Gearbox market based on the below-mentioned segments:
Global Wind Turbine Gearbox Market, By Type
Main Gearbox
Yaw Gearbox
Others
Global Wind Turbine Gearbox market, By Application
Offshore Wind Power
Onshore Wind Power
Global Wind Turbine Gearbox Market, By Capacity
5 MW-3 MW
Up to 1.5 MW
Over 3 MW
Global Wind Turbine Gearbox market, Regional Analysis
The main parts of a wind turbine are the gearboxes. These gears speed up the shaft's rotation using the electric generator. The gearboxes are built in a variety of ways to increase their resilience in response to loads and environmental factors while lowering the gearbox system failure rate. The usage of wind turbines is expanding due to the global shift towards renewable energy sources, which is driving up demand for wind turbine gearboxes.
Globally accelerating urbanisation and industrialization cause demand across all business sectors to increase. Additionally, heightened environmental consciousness encourages the adoption of clean, renewable energy sources, which leads to an increase in the number of wind turbines installed globally. As a result, the market for wind turbine gearboxes is growing globally. Furthermore, market participants will achieve the highest productivity and longevity by investing in better-designed, more efficient gearboxes. Due to their cost-effectiveness and energy efficiency, wind turbine investments are increasing, which is propelling the market's expansion over the study period. Global desire for more energy is what is driving the market for wind turbine gearboxes. Investments in wind turbines are anticipated to drive market expansion over the forecast period due to its cost- and energy-effectiveness. Government assistance for renewable energy initiatives might also benefit the market. Low wind energy production costs and alluring profits promised by onshore wind projects serve as evidence for this.
For wind turbines, the cost of operation and maintenance is very high and accounts for more than 30% of the overall cost. After the wind turbine is installed, it is important to regularly inspect such turbines. Generator and gearbox are the two essential and difficult parts of a turbine. For these components to function properly and live a longer lifespan, operation and maintenance tasks are essential. Failure is possible without proper maintenance, which increases downtime. The upkeep of the gearbox is a very pricy and difficult process. In most cases, it is better to replace the gearbox. The market's potential expansion throughout the projection period may be hampered by the high cost of operation and maintenance.
In order to extend the lifespan of wind turbines, Shell introduced gearbox oil. In the US, Shell Lubricants has introduced a new synthetic gearbox oil for wind turbines. A partnership between GE Renewable Energy, Toshiba Energy Solutions, and Solutions Corporation was launched in order to support the commercialization of the GE Haliade X offshore wind turbine in Japan by localising key manufacturing processes. For wind projects totaling 110 megawatts in India, GE Renewable Energy announced that they would provide 42 units of 2.7-132 onshore wind turbines. These turbines will enable Gujarat and Karnataka's major industrial enterprises satisfy their electricity needs.
Wind turbine gears are crucial parts of the machines that speed up their spinning. Manufacturers are quickly altering gearbox designs to boost their resilience in response to loads and environmental factors. At MRFR, our research analysts create market reports by abiding by a strict set of principles that enable a genuinely comprehensive perspective of the industry. They undertake a thorough, objective analysis of the market. The use of primary research techniques, such as interviewing CEOs and other senior management figures, has produced extremely pertinent data. Secondary research comprises a thorough examination of recent and historical trends that are presented in a prospective way.
Report Coverage
Global Wind Turbine Gearbox research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Wind Turbine Gearbox report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Wind Turbine Gearbox competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Wind Turbine Gearbox market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Siemens Gamesa Renewable Energy S.A. (Spain), Winergy AG (Germany), China High Speed Transmission Equipment Group Co. Ltd. (China), ZF Friedrichshafen (Germany), Chongqing Gearbox Co., Ltd. (China), Eickhoff Antriebstechnik GmbH (Germany), ISHIBASHI Manufacturing Co. Ltd. (Japan), and RENK AG (Germany) |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Wind Turbine Gearbox Market from 2021 to 2030.
- Market Forecast for Wind Turbine Gearbox Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Wind Turbine Gearbox competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Wind Turbine Gearbox
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Wind Turbine Gearbox market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Wind Turbine Gearbox market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Siemens Gamesa Renewable Energy S.A. (Spain), Winergy AG (Germany), China High Speed Transmission Equipment Group Co. Ltd. (China), ZF Friedrichshafen (Germany), Chongqing Gearbox Co., Ltd. (China), Eickhoff Antriebstechnik GmbH (Germany), ISHIBASHI Manufacturing Co. Ltd. (Japan), and RENK AG (Germany)
Primary Target Market
- Market Players of Wind Turbine Gearbox
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Wind Turbine Gearbox market based on the below-mentioned segments:
Global Wind Turbine Gearbox Market, By Type
Main Gearbox
Yaw Gearbox
Others
Global Wind Turbine Gearbox market, By Application
Offshore Wind Power
Onshore Wind Power
Global Wind Turbine Gearbox Market, By Capacity
5 MW-3 MW
Up to 1.5 MW
Over 3 MW
Global Wind Turbine Gearbox market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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