Wind Turbine Gearbox Market Share Projected US$ 38531.02 Million, Driving Sales, Current Trends and Industry Forecast 2030
Research Reports
Apr 13, 2023
Wind Turbine Gearbox Market Insights
According to MRFR analysis, the global Wind Turbine Gearbox Market is expected to register a CAGR of ~6.5% from 2022 to 2030 and hold a value of over USD 38531.02 Million by 2030.
The wind turbine gearbox market refers to the industry that manufactures and supplies gearboxes for wind turbines. These gearboxes are crucial components that enable wind turbines to convert the rotational energy generated by the wind into electrical energy. The COVID-19 pandemic had a significant impact on the wind turbine gearbox market. The disruptions caused by the pandemic led to a slowdown in the wind energy sector, which in turn affected the demand for wind turbine gearboxes. However, with the increasing focus on renewable energy and the gradual recovery of the global economy, the market is expected to bounce back in the coming years.
Key players
Some of the top key market players are Renewable energy providers are:
- Siemens Gamesa S.A. (Spain)
- “Winergy AG” (Germany)
- Chinese High Speed Transmission Equipment Group Co. (China)
- A ZF Friedrichshafen company
- (Germany)
- Chongqing Gearbox Company Inc. (China)
- Eickhoff Antriebstechnik GmbH (Germany)
- ISHIBASHI Manufacturing Co. (Japan)
- RENKA G (Germany).
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The Report Answers Following Questions:
- What are the key drivers of this wind turbine gearbox market growth?
- What are the emerging trends that could impact the demand for this industry in the future?
- How will market evolve over the next 5-10 years?
- What strategies do you think companies should adopt to meet the demand and capitalize on market growth opportunities?
- What will be the future growth rate of the market?
- What is the current demand for this market?
Wind Turbine Gearbox Market Regional Analysis
The wind turbine gearbox market is highly dependent on the wind energy sector, and its growth is closely linked to the development of wind power projects in different regions. Some of the key regions for wind energy and wind turbine gearbox markets include:
Europe is one of the leading regions for wind energy, with several countries such as Germany, Spain, and Denmark investing heavily in wind power. The demand for wind turbine gearboxes is expected to remain high in this region due to the increasing adoption of wind energy and the implementation of supportive government policies.
The United States and Canada are among the largest markets for wind energy, with a growing number of wind power projects being developed in these countries. Asia-Pacific is a rapidly growing market for wind energy, with China, India, and Japan being the key players in the region. The demand for wind turbine gearboxes is expected to increase significantly in this region due to the increasing investment in wind power projects and the implementation of government initiatives to promote renewable energy.
Wind Turbine Gearbox Market Segmentation
The Global Wind Turbine Gearbox market has been segmented into type, application, and capacity.
Based on type: The main gearbox, yaw gearbox, and others are the types of gearboxes used in wind turbines.
Based on application: It is divided into offshore and onshore wind power based on application. It is divided into new installations and replacement installations.
Based on capacity: The market is divided into three categories according to capacity: 1.5 MW–3 MW, up to 1.5 MW, and over 3 MW.
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Regions Covered:
- North America
- Europe
- Asia-Pacific
- South America
- Middle East and Africa
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