Wind Turbine Gearbox Market Growth, Size, Trends, Revenue, Demand, Challenges and Future Share
Wind Turbine Gearbox Market Size- By Type, By Application, By Installation Type, By Capacity- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jul-2023 | Report ID: POAE2345 | Pages: 1 - 247 | Formats*: |
| Category : Power & Energy | |||
Wind Turbine Gearbox Market Introduction and Overview
According to SPER Market Research, the Global Wind Turbine Gearbox Market is estimated to reach USD 47.63 billion by 2033 with a CAGR of 7.91%.
The report includes an in-depth analysis of the Global Wind Turbine Gearbox Market, including market size and trends, product mix, distribution channels, and supplier analysis. A wind turbine is a device that converts the kinetic energy of the wind into electrical energy. These turbines come in various sizes and can have either vertical or horizontal axes. When numerous large turbines are installed together, they form a wind farm. To generate electricity, a wind turbine employs a rotor connected to a gearbox drive motor. Traditionally, gearboxes are used to slow down the rotational speed while increasing the torque power in the main shaft, which is beneficial for the generator. In utility-scale wind turbines, three-stage gearboxes are commonly utilized, with the first stage being a planetary drive and the subsequent two stages employing helical gears.
- June 2022: Eickhoff Wind Asia, a subsidiary of Germany's Gebr Eickhoff Maschinenfabrik u. Eisengießerei GmbH, has launched a modern manufacturing plant close to Chennai. This facility strengthens Eickhoff's Asian operations, with a focus on assembling, storing, and testing wind gearboxes up to 8 MW capacity.
- March 2022: SKF has introduced ground breaking improvements in rolling bearing technology that allow for significant reductions in drivetrain weight. This achievement not only leads to substantial cost savings but also opens the potential for increased power output. Additionally, these advancements make it feasible to consider larger onshore turbines without exceeding transportation restrictions.
Market Opportunities and Challenges
Significant potential and difficulties are presented by the global market for wind turbine gearbox.
Opportunities:
- Increased Wind Energy Installations: The installation of wind turbines is being driven by the increased demand for renewable energy sources, particularly wind power. The need for wind turbine gearboxes to service these installations grows as more wind farms are built.
- Technological Developments: Ongoing research and development activities are producing novel gearbox designs with increased effectiveness, sturdiness, and dependability. Gearbox manufacturers can take advantage of these technological developments to draw in more clients and improve their position in the market.
Challenges:
- Gearbox Reliability and Maintenance: Gearboxes used in wind turbines function under difficult circumstances under continual loads and pressures. High maintenance costs can have an adverse effect on the overall financial success of wind farm operations, and ensuring the dependability and durability of gearboxes remains a concern.
- Supply Chain Restrictions: The wind turbine industry has occasionally faced supply chain interruptions that have a negative impact on the accessibility of vital components, such as gearboxes. In order to satisfy market needs and prevent delays, the supply chain must be managed effectively.
Market Competitive Landscape
The global wind turbine gearbox market is characterized by significant fragmentation, with numerous regional and international companies competing. Key players are actively engaging in both organic and inorganic strategies to solidify their market presence worldwide. Many companies are focusing on improving their production capabilities by introducing innovative technologies for wind turbines and gearboxes. The key players in the Global Wind Turbine Gearbox market include China High Speed Transmission Equipment Group Co. Ltd., Chongqing Gearbox Co. Ltd., Eickhoff Antriebstechnik GmbH, ISHIBASHI Manufacturing Co. Ltd., RENK AG, Siemens Gamesa Renewable Energy S.A., Winergy AG, ZF Friedrichshafen, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Application, By Installation Type, By Capacity |
| Regions covered | Asia-Pacific, Middle East and Africa, Europe, North America, Latin America |
| Companies Covered | China High Speed Transmission Equipment Group Co. Ltd., Chongqing Gearbox Co. Ltd., Eickhoff Antriebstechnik GmbH, ISHIBASHI Manufacturing Co. Ltd., RENK AG, Siemens Gamesa Renewable Energy S.A., Winergy AG, ZF Friedrichshafen, Others |
COVID-19 Impact on Global Wind Turbine Gearbox Market
The COVID-19 pandemic has had a severe impact on the global wind turbine gearbox market. Government-enforced lockdowns resulted in the closure of major businesses, leading to a significant decline in energy demand worldwide. Consequently, the demand for wind turbine gearboxes decreased, adversely affecting market growth. Furthermore, the pandemic-induced delays in developing new power generation projects also contributed to the slowdown in the global wind turbine gearbox market. The combination of reduced energy demand and project delays created substantial challenges for the industry during the outbreak of the global pandemic.
Key Target Audience:
- Consultants and Industry Experts
- Engineers and Technicians
- Environmental Organizations
- Investors and Financial Institutions
- Maintenance Service Providers
- Procurement Managers
- Renewable Energy Regulators and Government Officials
- Research and Development Teams
- Wind Farm Developers and Owners
- Wind Turbine Manufacturers
- Others
Our in-depth analysis of the Wind Turbine Gearbox Market includes the following segments:
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Key Topics Covered in the Report:
- Global Wind Turbine Gearbox Market Size (FY’2023-FY’2033)
- Overview of Global Wind Turbine Gearbox Market
- Segmentation of Global Wind Turbine Gearbox Market By Type (Main Gearbox, Yaw Gearbox, Others)
- Segmentation of Global Wind Turbine Gearbox Market By Application (Offshore, Onshore)
- Segmentation of Global Wind Turbine Gearbox Market By Installation Type (New, Replacement)
- Segmentation of Global Wind Turbine Gearbox Market By Capacity (5 MW-3 MW, Upto 1.5 MW, Over 3 MW)
- Statistical Snap of Global Wind Turbine Gearbox Market
- Expansion Analysis of Global Wind Turbine Gearbox Market
- Problems and Obstacles in Global Wind Turbine Gearbox Market
- Competitive Landscape in the Global Wind Turbine Gearbox Market
- Impact of COVID-19 and Demonetization on Global Wind Turbine Gearbox Market
- Details on Current Investment in Global Wind Turbine Gearbox Market
- Competitive Analysis of Global Wind Turbine Gearbox Market
- Prominent Players in the Global Wind Turbine Gearbox Market
- SWOT Analysis of Global Wind Turbine Gearbox Market
- Global Wind Turbine Gearbox Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the Global Wind Turbine Gearbox Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Wind Turbine Gearbox Market Manufacturing Base Distribution, Sales Area, Product Type6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Wind Turbine Gearbox Market
7. Global Wind Turbine Gearbox Market, By Type (USD Million)
7.1. Global Wind Turbine Gearbox Market Value Share and Forecast, By Type, 2023-20337.2. Main Gearbox7.3. Yaw Gearbox7.4. Others
8. Global Wind Turbine Gearbox Market, By Application (USD Million)
8.1. Global Wind Turbine Gearbox Market Value Share and Forecast, By Application, 2023-20338.2. Offshore8.3. Onshore
9. Global Wind Turbine Gearbox Market, By Installation Type (USD Million)
9.1. Global Wind Turbine Gearbox Market Value Share and Forecast, By Installation Type, 2023-20339.2. New9.3. Replacement
10. Global Wind Turbine Gearbox Market, By Capacity (USD Million)
10.1. Global Wind Turbine Gearbox Market Value Share and Forecast, By Capacity, 2023-203310.2. 5 MW-3 MW10.3. Upto 1.5 MW10.4. Over 3 MW
11. Global Wind Turbine Gearbox Market Forecast, 2019-2033 (USD Million)
11.1. Global Wind Turbine Gearbox Market Size and Market Share
12. Global Wind Turbine Gearbox Market, By Type, 2019-2033 (USD Million)
12.1. Global Wind Turbine Gearbox Market Size and Market Share By Type (2019-2026)12.2. Global Wind Turbine Gearbox Market Size and Market Share By Type (2027-2033)
13. Global Wind Turbine Gearbox Market, By Application, 2019-2033 (USD Million)
13.1. Global Wind Turbine Gearbox Market Size and Market Share By Application (2019-2026)13.2. Global Wind Turbine Gearbox Market Size and Market Share By Application (2027-2033)
14. Global Wind Turbine Gearbox Market, By Installation Type, 2019-2033 (USD Million)
14.1. Global Wind Turbine Gearbox Market Size and Market Share By Installation Type (2019-2026)14.2. Global Wind Turbine Gearbox Market Size and Market Share By Installation Type (2027-2033)
15. Global Wind Turbine Gearbox Market, By Capacity, 2019-2033 (USD Million)
15.1. Global Wind Turbine Gearbox Market Size and Market Share By Capacity (2019-2026)15.2. Global Wind Turbine Gearbox Market Size and Market Share By Capacity (2027-2033)
16. Global Wind Turbine Gearbox Market, By Region, 2019-2033 (USD Million)
16.1. Global Wind Turbine Gearbox Market Size and Market Share By Region (2019-2026)16.2. Global Wind Turbine Gearbox Market Size and Market Share By Region (2027-2033)16.3. Asia-Pacific16.3.1. Australia16.3.2. China16.3.3. India16.3.4. Japan16.3.5. South Korea16.3.6. Rest of Asia-Pacific16.4. Europe16.4.1. France16.4.2. Germany16.4.3. Italy16.4.4. Spain16.4.5. United Kingdom16.4.6. Rest of Europe16.5. Middle East and Africa16.5.1. Kingdom of Saudi Arabia16.5.2. United Arab Emirates16.5.3. Rest of Middle East & Africa16.6. North America16.6.1. Canada16.6.2. Mexico16.6.3. United States16.7. Latin America16.7.1. Argentina16.7.2. Brazil16.7.3. Rest of Latin America
17. Company Profile
17.1. China High Speed Transmission Equipment Group Co. Ltd.17.1.1. Company details17.1.2. Financial outlook17.1.3. Product summary17.1.4. Recent developments17.2. Chongqing Gearbox Co. Ltd.17.2.1. Company details17.2.2. Financial outlook17.2.3. Product summary17.2.4. Recent developments17.3. Eickhoff Antriebstechnik GmbH17.3.1. Company details17.3.2. Financial outlook17.3.3. Product summary17.3.4. Recent developments17.4. ISHIBASHI Manufacturing Co. Ltd17.4.1. Company details17.4.2. Financial outlook17.4.3. Product summary17.4.4. Recent developments17.5. RENK AG17.5.1. Company details17.5.2. Financial outlook17.5.3. Product summary17.5.4. Recent developments17.6. Siemens Gamesa Renewable Energy S.A.17.6.1. Company details17.6.2. Financial outlook17.6.3. Product summary17.6.4. Recent developments17.7. Winergy AG17.7.1. Company details17.7.2. Financial outlook17.7.3. Product summary17.7.4. Recent developments17.8. ZF Friedrichshafen17.8.1. Company details17.8.2. Financial outlook17.8.3. Product summary17.8.4. Recent developments17.9. Others
18. List of Abbreviations
19. Reference Links
20. Conclusion
21. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
Wind Turbine Gearbox Market is projected to reach USD 47.63 billion by 2033, growing at a CAGR of 7.91% during the forecast period.
Wind Turbine Gearbox Market grew in market size from 2023. The Market is expected to reach USD 47.63 billion by 2033, at a CAGR of 7.91% during the forecast period.
Wind Turbine Gearbox Market CAGR of 7.91% during the forecast period.
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Wind Turbine Gearbox Market size is USD 47.63 billion from 2023 to 2033.
Wind Turbine Gearbox Market Segment is Covered By Type, By Application, By Installation Type, By Capacity
The North America region is anticipated to have the highest market share in Cocktail Syrups Market.
The key players in the market include Companies Covered China High Speed Transmission Equipment Group Co. Ltd., Chongqing Gearbox Co. Ltd., Eickhoff Antriebstechnik GmbH, ISHIBASHI Manufacturing Co. Ltd., RENK AG, Siemens Gamesa Renewable Energy S.A., Winergy AG, ZF Friedrichshafen, Others
The installation of wind turbines is being driven by the increased demand for renewable energy sources, particularly wind power.
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