Wind Turbine Gearbox Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025
Increasing demand
for clean energy has propelled the market for wind turbines. Majority
of wind turbines operating currently use a gearbox system. Rise in
the number of wind turbines across the globe has boosted the wind
turbine gearbox market. Different components in a wind turbine play
an important role in optimizing the speed for maximum efficiency.
Thus, a gearbox plays a critical part in a wind turbine, as it
accelerates the slower turbine rotations to fast generator rotational
speed. Yet, in contrast to conventional gearboxes, a wind turbine
gearbox does not switch gears. Rather, it retains a single gear ratio
between the generator and rotor rotation.
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The global wind
turbine gearbox market is expected to expand at a substantial pace in
the near future primarily due to the rise in demand for clean energy.
This increase in demand for clean energy is encouraging power
generation companies and agencies across the globe to construct wind
farms. The cost of wind technology has fallen significantly in recent
years as wind farms are becoming more and more common. This, in turn,
is making the technology reasonably priced for power generation
companies. Low cost of technology and government support from various
countries in Europe, the Middle East, and North America have
augmented the adoption of wind power. Developing countries such as
India and China also offer a huge motivation to the demand for wind
power as the government of these countries are funding various
projects for the growth of the wind energy sector. Thus, growth in
the wind power industry is driving the wind turbine gearbox market.
High rate of failure
of wind turbine gearboxes as a result of wide variability in wind
patterns and speeds is the major drawback of the wind turbine gearbox
market. Gearbox failures often account for significant part of the
cost of repair and restoration of wind turbines. The frequency of
occurrence of a gearbox failure is comparatively lesser than the
number of failures of sensors, control systems, and electrical units;
however, the costs of gearbox repairs are significantly high.
Furthermore, the number of “days out” per failure are
considerably higher in case of a gearbox failure. Nevertheless, the
need to produce clean energy and the common goal to reduce carbon
dioxide gas emission are estimated to boost the wind energy sector,
thus augmenting the market for wind turbine gearbox in the near
future. Furthermore, to overcome the increasing instances of power
supply shortages is estimated to augment the demand for wind energy
in the commercial as well as the residential sector. This, in turn,
is estimated to propel the demand for gearbox wind turbines.
The wind turbine
gearbox market can be segmented based on capacity, application, and
region. In terms of capacity, the market can be divided into less
than 3MW, between 3MW and 6MW, and more than 6MW. Based on
application, the market can be bifurcated into onshore and offshore.
In terms of region, the wind turbine gearbox market can be segregated
into North America, Europe, Asia Pacific, Middle East & Africa,
and Latin America.
Key players
operating in the market include GE Energy, Suzlon Energy, Bosch
Rexroth, Dana Brevini Power - Transmission SpA, Winergy, and Gamesa.
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