Market Survey: Global Wind Turbine Gearbox Repair & Refurbishment Market is expected to grow at a CAGR of XX during the forecast period of(2019 – 2024)

Wind Turbine Gearbox Repair & Refurbishment

(2019 – 2024) “Wind Turbine Gearbox Repair & Refurbishment Market Report studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Wind Turbine Gearbox Repair & Refurbishment Analysis. The Wind Turbine Gearbox Repair & Refurbishment market is expected to register a CAGR of approximately XX% during the forecast period of (2019 – 2024).

Wind Turbine Gearbox Repair & Refurbishment Market Report Covers Leading Manufacturers: Brevini UK Ltd, Siemens Gamesa Renewable Energy SA, ME Production A/S, Stork Gears & Services B.V., Winergy Group, Bosch Rexroth AG, ZF Friedrichshafen AG., Turbine Repair Solutions, Grenaa Motorfabrik A/S, ENERCON GmbH, Connected Wind Services Refurbishment A/S

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Wind turbine gearbox is one of the components used in wind turbines. Gearbox in wind turbines help increase the rotational speed of the shaft. Gearbox connects the low-speed shaft to the high-speed shaft, in order to increase the rotation per minute (rpm) of the shaft. It helps increase the rotational speed from about 30 – 60 rpm to desired 1,000 – 1,800 rpm by the generator, in order to produce electricity. The cost of gearbox, along with its repair & refurbishment has been high, previously. However, its cost has been declining over the years, due to increasing number of wind farms around the globe. The rising concerns related to environment have led to increase in the number of wind farms around the world. In addition, to reduce energy dependency on other countries, governments, across the world, have been setting targets to develop renewable energy infrastructure for their countries. Countries across the world offer various incentives, schemes, and concessions to developers, which has noticeably increased the wind energy infrastructure, worldwide. Hence, with the increasing number of wind energy infrastructure, repair & refurbishment requirements are also expected to increase, driving the global wind turbine gearbox repair & refurbishment market.

Growing New Wind Capacity Additions – Driving the Market

Since 2011, the cumulative wind capacity has almost doubled from 238 GW to 487 GW in 2016. Wind turbine gearboxes, using high-speed shaft systems and helical gears, are most often prone to failure and need periodic repair and refurbishment. Hence, with the growing wind capacity additions, the demand for repair & refurbishment of the wind energy infrastructure is expected to witness significant growth in the coming years.

Asia-Pacific to Dominate the Market

Asia-Pacific accounts for the largest and fastest-growing market for wind turbine gearbox repair & refurbishment. It is likely to continue dominating the market during the forecast period, due to the upcoming wind projects in the region. China is the biggest producer of wind energy in the world. China has further planned to construct more than ten offshore wind farms this year in Guangdong Province, with overall installed capacity of 3.65GW. Along with this, the Indian government has planned to auction 5 GW offshore wind power capacities in 2018. All such upcoming projects, adding to the wind energy infrastructure, are likely to increase the wind turbine gearbox repair & refurbishment requirement in the coming years, further adding to the growth of the market.

The United States to Register High Demand

The United States installed 2000 MW of wind energy during the first quarter of 2017. The wind power capacity is currently 84,143 MW across 41 states in the country. In 2017, 9,025 MW of wind capacity were under construction and 11,952 MW were in advanced development stages in the. Assuming the repair and refurbishment requirement of the wind turbine gearboxes to be around five years, the immediately addressable market is in the range of 60 GW. However, the market for repair & refurbishment of wind turbine gearbox is likely to surge in the US market.

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Reasons to Purchase Wind Turbine Gearbox Repair & Refurbishment Market Report:

  • Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining a competitive edge. 
  • Analysing various perspectives of the market with the help of Porter’s five forces analysis.
  • The authentication mode is likely to witness the highest adoption of these systems in the market.
  • The regions that are expected to witness the fastest growth during the forecast period.
  • The SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators.
  • 3 months’ analyst support along with the Market Estimate sheet (in excel). 

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