One of the most important parts of a wind turbine is the gearbox. These gearboxes increase the shaft's rotating speed by using the electric generator. The gearboxes are built in various ways to increase their resilience in response to loads and environmental factors while lowering the gearbox system failure rate. The use of wind turbines is increasing due to the global move toward renewable energy sources, driving up the need for wind turbine gearboxes.
Global urbanization and rapid industrialization are driving up demand across all business sectors. Additionally, a rise in environmental consciousness encourages the use of clean, renewable energy sources, which leads to an increase in the number of wind turbines globally. As a result, the global market for wind turbine gearboxes is growing.
Rising investments bring a new sunrise to wind energy markets
This industry's main drivers include the falling cost of wind energy and rising investments in wind power projects. The market for gearboxes is anticipated to be constrained throughout the projected period by the growing popularity of direct-drive turbines.
The global desire for more energy drives the market for wind turbine gearboxes. Investments in wind turbines are anticipated to drive market further due to their cost- and energy-effectiveness. Government funding of renewable energy projects is also contributing to its growth.
The IEC-61400 international standard, which describes the basic standards for the specification, design, and verification of gearboxes in wind turbines, has been continuously revised as wind turbine gearbox technologies have improved. Despite these ongoing advancements, several technological obstacles still need to be resolved, particularly in the case of offshore wind farms.
Government's support to hype up the use of renewable energies
Countries' ambitious goals and encouraging government policies will probably impact the market more. President of the United States, Joe Biden, declared an offshore goal of 30 GW by 2030 in March 2021. The National Renewable Energy Laboratory (NREL) also claims that the United States has the technical capacity to support over 2,000 GW offshore wind power.
India wants to use the 7,600 kilometers of coastline, hitherto untapped for offshore wind power, to enhance the proportion of renewable energy in its energy mix. India's Ministry of New and Renewable Energy set a target of 30 GW by 2030. With such lofty objectives, it is anticipated that significant offshore wind power projects will be launched, driving demand for wind turbine gearboxes.
The world as we know it would not be possible without the inventive and developing technology of the versatile and indispensable gearbox, which dates to the first prototypical gears made of wood and bronze and coming from China in the year 800 B.C.E. up through the most complex gearboxes of today, found in everything from cars and aeroplanes to wind turbines.