NEW YORK, Jan. 16, 2024 /PRNewswire/ — The wind turbine gearbox market size is expected to grow by USD 4.23 billion from 2022 to 2027. In addition, the growth momentum of the market will progress at a CAGR of 6.39% during the forecast period, according to Technavio. We provide a detailed analysis of 20 companies operating in the wind turbine gearbox market including Bonfiglioli Riduttori Spa, Dana Inc., Flender GmbH, Gebr. Eickhoff Maschinenfabrik and Eisengiesserei GmbH, General Electric Co., Hottinger Bruel and Kjaer GmbH, ISHIBASHI Manufacturing Co. Ltd., Lenze SE, ME Production Aps, Moventas Gears Oy, Nanjing High Accurate Drive Equipment Manufacturing Group Co. Ltd., Nord Gear Ltd., Porsche Automobil Holding SE, Robert Bosch GmbH, Shandong Qingneng Power Co. Ltd., Siemens AG, Suzlon Energy Ltd., Voith GmbH and Co. KGaA, ZF Friedrichshafen AG, and ZOLLERN GmbH and Co. KG.The report offers an up-to-date analysis of the market, and to know the exact growth variance and the Y-O-Y growth rate, Request a FREE Sample Report.
The rising height and capacity of wind towers are notably driving the wind turbine gearbox market. However, factors such as the high O&M cost of wind turbine gearboxes may impede market growth. The market is segmented by Type (Replacement and New), Application (Onshore and Offshore), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
Wind Turbine Gearbox Market 2023-2027: Company Analysis
- Dana Inc. – The company offers wind turbine gearboxes such as yaw and pitch drives.
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Wind Turbine Gearbox Market 2023-2027: Segmentation
Type
- The replacement segment will contribute the majority of the growth to the market during the forecast period. Globally, wind turbine gearbox replacements hinge on installed capacity. Despite shorter lifespans, improved reliability extends their use. However, high replacement costs, service interruptions, and a shift to direct drive systems often delay replacements. Forecasted price drops may boost the segment’s growth.
- Application (Onshore and Offshore)
Geography
- APAC will account for 56% of the global market during the forecast period. The surge in energy demand in APAC, driven by population growth and improved living standards, propels renewable energy expansion, notably in China and India. Their focus on wind energy to meet emission goals fosters a burgeoning market for wind turbine gearboxes due to substantial installations in these key nations.
- Europe, North America, South America, and Middle East and Africa
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The Wind Turbine Gearbox Market is evolving rapidly, fueled by a surge in Green Energy Investments and a steadfast commitment to Renewable Energy. Gearbox Manufacturing is now more focused on enhancing Turbine Efficiency and Power Generation capabilities. As Gearbox Reliability becomes a priority, Wind Energy stakeholders are increasingly investing in Advanced Materials and innovative Lubrication Systems to reduce Gearbox Failures.
Wind Turbine Gearbox Market 2023-2027: Key Highlights
- Historic Market Size 2017-2021
- CAGR of the market during 2023-2027
- Detailed information on factors that will assist wind turbine gearbox market growth during the next five years
- Estimation of the wind turbine gearbox market size and its contribution to the parent market
- Forecasts on upcoming trends and changes in consumer behavior
- The growth of the wind turbine gearbox market
- Analysis of the competitive landscape and detailed information on companies
- Comprehensive details of factors that will impede the growth of wind turbine gearbox market companies
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ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Application
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers, Challenges, & Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio
