Growth in Investments in Wind Turbines Expected to Drive Wind Turbine Gearbox Ma
Posted by Anita on November 21st, 2019
A wind turbine is a device, generates electric energy from kinetic energy of the flow of wind. Wind turbine gearbox is an important component in the wind turbine which helps in increasing the turbine rotational speed. It consists of both planetary and parallel gear stages depending on the capacity prerequisite of a wind turbine. There are numerous types of wind turbine gearboxes which are based on various factors like wind flow, landscape, wind potential, demand, etc.
According to study, “Wind Turbine Gearbox Market Research Report 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 Region-Global Forecast to 2025” the key companies operating in the wind turbine gearbox market are Siemens Gamesa Renewable Energy S.A., China High Speed Transmission Equipment Group Co. Ltd., Winergy AG, Chongqing Gearbox Co., Ltd., Moventas Gears Oy, Dana Brevini SpA, NGC Gears, ZF Friedrichshafen AG, Eickhoff Antriebstechnik GmbH. Key manufactures are rapidly varying designs of gearbox to augment its resistance according to loading & environmental conditions.
Based on type, wind turbine gearbox market is segmented into yaw gearbox, main gearbox and others. The yaw gearbox segment is anticipated to exhibit a higher CAGR owing to a gamut of product offerings are existing by distributors during the forecast period. Based on gear stages, market is segmented into low-speed planetary gear stage, intermediate gear stage and high-speed parallel gear stages. The planetary gear stage includes three moving components such as planet gears, planet carrier arm, and sun pinion. Based on installation type, market is segmented into replacement and new. Based on capacity type, market is segmented into less than 3MW, between 3MW and 6MW, and more than 6MW. In addition, based on application, market is segmented into onshore wind power and offshore wind power. The onshore segment holds higher share of the entire market due to the extreme uses of medium speed gearboxes to moderate capital & operational expenditure. Additionally, offshore segment is also expected to capture a higher market share because of the incorporation of spur gears in wind turbine gearboxes setup during the forecast period.
The wind turbine gearbox market is driven by rise in energy consumption demands, followed by increase in government support for renewable energy projects, rise in funding for research & development (R&D) program, advancements in technologies, overcome the increasing instances of power supply shortages, rise in use of wind energy as a source of electricity generation, noteworthy reduction in the cost of generation & associated risks, and growth in investments in wind turbines for capturing energy due to its cost-effectiveness & energy-efficiency. However, an alternative clean energy sources for instance solar and gas, are inexpensive than wind energy, which is a key restraint for the market.
Based on geography, the Asian-Pacific region dominates the wind turbine gearbox market owing to high investments in the wind industry over the forecast period. The North-America and European regions are expected to witness lucrative growth rate due to rise in demand for clean energy, low cost of technology and increase in government support from various countries over the forecast period. It is projected that the market will be reached at 8,630 million by 2025.
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