The increasing demand for alternative sources of energy around the world is a key factor enabling the growth of the market, says Fortune Business Insights in a report, titled “Wind Turbine Gearbox“ Market Size, Share and Global Trend By Installation (New, Replacement), By Application (Onshore, Offshore) and Geography Forecast till 2026” The growing focus towards power generation will propel growth of the market during the forecast period
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Some of the Major Companies in the Global Wind Turbine Gearbox Market:
- Siemens Gamesa
- GE Renewable Energy
- Ishibashi Manufacturing Co. Ltd.
- ZF Wind Power
- NGC Transmission Equipment (America), Inc.
- Voith Group
- Bosch Rexroth AG
- Hyundai Heavy Industries
- China High Speed Transmission
- and Dana Brevini Motion Systems.
Key Industry Developments
- July 2018, ZF Wind Power and Vestas Wind Systems A/S have signed service partnership agreement to offer exceptional gearbox service solutions across turbine brands.
- In May 2018, Siemens Gamesa bags 5-years contract from Eneco for the refurbishment of wind turbine gearboxes. Under the contract agreement, Siemens will supply four gearboxes (ZF-EH804) fully equipped with all auxiliaries
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The rising emphasis on greenhouse gas emissions will fuel demand for wind turbine gearboxes in the foreseeable future. The growing inclination towards clean energy sources is expected to aid the growth of the market. The surge in production capabilities for alternative energy sources to cater to the demand is predicted to further boost the wind turbine gearbox market shares in the forthcoming years. The increasing development in wind technology and new technological solutions. The increasing R&D investment by key players is expected to further accelerate the growth of the market.
The report offers a comprehensive overview of the wind turbine gearbox market. It provides information on the recent technological developments and industry developments, helping our readers to get a clear picture of the market. Furthermore, the report highlights the competitive landscape of the market by essentially focussing on key product offerings, growth strategies, and other recent developments. The data collected in the report is procured from primary and secondary sources and covers all the facets of the global market.
Key Market Driver – Growing installation of wind power projects
Key Market Restraint – High refurbishment cost of the gearbox
Partnership Between ZF Wind Power and Vestas Wind Systems will Propel Growth
Vestas Wind Systems A/S, Danish wind turbine maker announced its partnership with gearbox manufacturer ZF. The collaboration is meant to provide a complete exchange and turnkey solution on a global level. The partnership is expected to aid the healthy growth of the market owing to the expansion of gearbox capabilities with lesser cost. Furthermore, the contract between Siemens Gamesa is expected to create growth opportunities for the market. For instance, Siemens Gamesa bags 5-years contract from Eneco for the refurbishment of wind turbine gearboxes. Under the contract agreement, Siemens will supply four gearboxes (ZF-EH804) fully equipped with all auxiliaries. In addition, the growing focus towards sustainable development by many countries is expected to foster the growth of the market. The rising investment by the government for the expansion of wind power is expected to boost the wind turbine gearbox growth. The increasing number of wind power projects is expected to facilitate the growth of the market.
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Key Segmental Overview:
1. By Installation
2. By Application
3. By Geography
- North America (the USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Major Table of Content For Wind Turbine Gearbox Market:
- Executive Summary
- Market Dynamics
- Key Insights
- Global Wind Turbine Gearbox Market Analysis, Insights and Forecast, 2026
- North America Wind Turbine Gearbox Market Analysis, Insights and Forecast, 2026
- Europe Wind Turbine Gearbox Market Analysis, Insights and Forecast, 2026
- Asia Pacific Wind Turbine Gearbox Market Analysis, Insights and Forecast, 2026
- Middle East and Africa Wind Turbine Gearbox Market Analysis, Insights and Forecast, 2026
- Latin America Wind Turbine Gearbox Market Analysis, Insights and Forecast, 2026
- Competitive Landscape
- Company Profile
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
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