(MENAFN- GetNews) Wind Turbine Gearbox Market 2019 Global Size, Share, Trends Analysis with Industry Forecast To 2025, is latest research report published by market research future. According to report Global Wind Turbine Gearbox Market to Touch $8630 Million during the forecast period of 2019 to 2025.
Report provides comprehensive information on Wind Turbine Gearbox Market by Type (Main Gearbox, Yaw Gearbox, Others), Application (Offshore Wind Power, Onshore Wind Power), Installation Type (New, Replacement), Capacity (1.5-3 MW, up to 1.5 MW, Over 3 MW), and Regional (North America, APAC, Europe, RoW) outlook to 2025.
Market Highlights:
Key Companies Analyzed in Report -
Prominent players operating in the wind turbine gearbox market include ISHIBASHI Manufacturing Co. Ltd. (Japan), Eickhoff Antriebstechnik GmbH (Germany), China High Speed Transmission Equipment Group Co. Ltd. (China), RENK AG (Germany), Chongqing Gearbox Co., Ltd. (China), Winergy AG (Germany), Siemens Gamesa Renewable Energy S.A. (Spain), and ZF Friedrichshafen (Germany).
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The rapid depletion of fossil fuels and growing environmental concerns have forced energy providers to incline towards renewable energy sources. Wind turbine gearboxes are components which ensure the transfer of energy between the impeller and generator. The global wind turbine gearbox market can grow exponentially at an impressive 6.46% CAGR during the forecast period (2019-2025) to scale to a valuation of USD 8,630 million by the end of 2025. Market Research Future's (MRFR) report on the wind turbine gearbox market contains a detailed analysis of drivers and segments that can impact the market profoundly in the coming years.
Increasing support by governments to capitalize on wind energy to cater to increasing demands by citizens can further the market's prospects. This is evident by projects started by India, China, Germany, the U.S., U.K., Brazil, South Africa, and others. In addition, introduction of energy efficiency policies such as the Chinese Renewable Energy Law which can encourage industries to use renewable sources of energy can boost market demand by the end of the forecast period.
Wind Turbine Gearbox Market Segment Analysis:
By type, the global wind turbine gearbox market can be segmented into yaw gearbox, main gearbox, and others. The yaw gearbox segment is expected to exhibit a higher CAGR than the main gearbox segment thanks to a gamut of product offerings by distributors. In addition, establishment of production plants to keep up with the demand of wind turbines is likely to augur the segment growth till 2025. On the other hand, the main gearbox segment is projected to grow at 6.44% CAGR owing to gearboxes being pivotal in increasing the rotational speed of turbines according to changing energy demands.
By application, the wind turbine gearbox market can be segmented into onshore and offshore wind power. The onshore segment had captured a higher share of the overall market revenue thanks to the use of medium speed gearboxes to reduce capital and operational expenditure. On the other hand, the offshore segment is likely to capture a higher market share by 2025 owing to the integration of spur gears in its setup. Spur gears allow the turbines to function at high torque without risk of creating noise.
By installation type, it is segmented into new and replacement. The new segment is touted to reach a valuation of USD 6,865.3 million by 2025, while the replacement segment can grow at a rapid clip owing to the need for replacement parts to modernize legacy or outdated equipment.
On the basis of capacity, it is divided into 1.5 MW-3 MW, Up to 1.5 MW, and Over 3 MW segments. The 1.5 MW-3 MW segment is projected to showcase 6.79% CAGR, while the over 3 MW segment can exhibit the second highest CAGR over the forecast period.
Regional Analysis:
Geographical analysis of thewind turbine gearbox marketspans across namely North America, South America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The South America region is touted to exhibit 6.53% CAGR during the assessment period to touch a valuation of USD 425.7 million by 2025. This can be credited to the energy crunch faced by various countries in the region. Uruguay and Chile are countries with the highest potential to contribute to market revenue. But lack of supportive policies can impede its growth.
The Europe wind turbine gearbox market accounted for 32.04% share in 2018. Emerging economies such as Turkey coupled with economically strong countries such as France, the U.K., and Germany can contribute to overall market revenue. In addition, supportive policies to facilitate installations of wind turbines is likely to augur regional growth throughout the forecast period.
The North America region is expected to perform well thanks to various developments in gearbox designs which can increase the rotational speeds and generate energy. It is predicted to experience 6.43% CAGR during the assessment period. On the other hand, APAC is a hot market for investments owing to vast expanses of land available for energy production. China accounted for more than 70% share in APAC, followed by India, Australia, Japan, and South Korea. The MEA windturbine gearbox market can experience a sluggish growth owing to installations only in Africa.
Table of Content:
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter's Five Forces Analysis
3.1.1 Threat Of New Entrants
3.1.2 Bargaining Power Of Buyers
3.1.3 Bargaining Power Of Suppliers
3.1.4 Threat Of Substitutes
3.1.5 Segment Rivalry
3.2 Supply Chain Analysis
4 Market Dynamics
4.1 Introduction
4.2 Market Drivers
4.3 Market Restraints
4.4 Market Opportunities
4.5 Market Trends
Continued…
List of Tables:
TABLE 1 MARKET SYNOPSIS 20
TABLE 2 LIST OF ASSUMPTIONS 23
TABLE 3 VOLUME OF WIND TURBINE GEARBOX, BY TYPE, 2013-2025 (UNITS) 38
TABLE 4 GLOBAL WIND TURBINE GEARBOX MARKET, BY APPLICATION, 2013-2025 (USD MILLION) 42
TABLE 5 VOLUME OF WIND TURBINE GEARBOX, BY APPLICATION, 2013-2025 (UNITS) 42
TABLE 6 GLOBAL WIND TURBINE GEARBOX MARKET, BY INSTALLATION TYPE, 2013-2025 (USD MILLION) 45
TABLE 7 VOLUME OF WIND TURBINE GEARBOX, BY INSTALLATION TYPE, 2013-2025 (UNITS) 45
TABLE 8 GLOBAL WIND TURBINE GEARBOX MARKET, BY CAPACITY, 2013-2025 (USD MILLION) 48
TABLE 9 VOLUME OF WIND TURBINE GEARBOX, BY CAPACITY, 2013-2025 (UNITS) 48
Continued…
For more Wind Turbine Gearbox Market News Visit:
https://www.marketwatch.com/press-release/wind-turbine-gearbox-market-2019-global-industry-analysis-by-size-challenges-opportunities-share-growth-trends-competitive-landscape-statistics-and-regional-forecast-to-2025-2019-02-25
https://www.marketwatch.com/press-release/flow-battery-market-2019-size-share-potential-growth-trends-regional-outlook-sales-revenue-competitive-analysis-with-global-industry-forecast-to-2025-2019-05-02
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