Global Wind Turbine Gearbox Market Growth, Trends & Forecast 2018-2023 - ResearchAndMarkets.com

DUBLIN--()--The "Global Wind Turbine Gearbox Market - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

Driven by advancements in technologies and a significant reduction in the cost of generation and associated risks, the use of wind energy as a source of electricity generation has attracted exceptional demand across regions.

The turbine manufacturers are under constant pressure to provide equipment with lower operations and maintenance costs. Gearbox running conditions are challenging and lifetime expectations are considered to be high. About 70% of the gearbox failures are estimated to be caused by bearing failures. A gearbox bearing exchange is expected to cost from EURO 15, 000 for a simple up-tower replacement to even more than EURO 1 million for a larger (+5 MW) gearbox exchange.

The European wind energy industry has progressed at a very fast rate since 2009, maintaining an annual market of +10 GW, with an annual average market of 11.3 GW per year, and is expected to maintain similar growth rate during the forecast period. In 2016, wind overtook coal as the second largest capacity in Europe, and with gas-fired plants being decommissioned at almost the same rate as installation.

2017 was a year of transition for the Indian wind power industry, which saw a transition from feed-in-tariffs to competitive bidding, causing temporary volatility in demand for wind power equipment. However, it is anticipated that the wind power capability in the country will be ramped up to 185 GW an eight-fold increase over 15 years from 2015, and contribute to approximately 14% of India's renewable energy use. Similarly, India's Ministry of New and Renewable Energy (MNRE) has announced the target to achieve an installed capacity of 175 GW of renewable energy by 2022, including 60 GW from wind.

Companies Mentioned

  • ZF Friedrichshafen AG
  • NGC Gears
  • Dana Brevini Power Transmission S.p.A.
  • Winergy AG
  • Xiangtan Electric Manufacturing Group Co.
  • China High Speed Transmission Equipment Group Co. Ltd
  • Moventas Gears Oy
  • Siemens Gamesa Renewable Energy SA
  • Xinjiang Goldwind Science & Technology Co. Ltd
  • Hyosung Corp.

Key Topics Covered:

1. Executive Summary

2. Research Methodology

3. Market Overview

4. Market Dynamics

5. Value Chain Analysis

6. Industry Attractiveness - Porter's Five Forces Analysis

7. Market Segmentation and Analysis

8. Regional Market Analysis

9. Key Company Analysis

10. Competitive Landscape

11. Disclaimer

For more information about this report visit https://www.researchandmarkets.com/research/ngnrs5/global_wind?w=4

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Wind Power, Turbines

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Wind Power, Turbines