Wind Turbine Gearbox Market Report-Forecast till 2030

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 2030

ID: MRFR/E&P/5153-CR | November 2018 | Region: Global | 199 Pages         

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Wind Turbine Gearbox Market

Wind Turbine Gearbox Market is expected to grow at a CAGR of 6.46% during the forecast period and is expected to reach USD 34 Billion by 2028.

Segmentation
By Type Main Gearbox Yaw Gearbox Others
By Application Offshore Wind Power Onshore Wind Power
By Installation Type New Replacement
By Capacity 1.5-3 MW Up to 1.5 MW Over 3 MW
Key Players
Companies Profiled   Siemens Gamesa Renewable Energy S.A. (Spain)    Winergy AG (Germany)    China High Speed Transmission Equipment Group Co. Ltd. (China)    ZF Friedrichshafen (Germany)    Chongqing Gearbox Co. Ltd. (China)    Eickhoff Antriebstechnik GmbH (Germany)    ISHIBASHI Manufacturing Co. Ltd. (Japan)    RENK AG (Germany)
Drivers
Market Driving Forces   Increase in rotor diameter in gearbox    Government support for wind energy projects    Significant reduction in the wind power generation costs    Increase in wind energy consumption
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Wind Turbine Gearbox Market is expected to grow at a 6.46% CAGR from 2022 to 2030, owing to exigencies of energy from renewable sources.


Wind Turbine Gearbox Market Synopsis


Wind turbine gearboxes are the major components that are included in wind turbines. Using the electric generator, these gearboxes enhance the rotational speed of the shaft. The gearboxes are designed in multiple ways to extend their resistance according to loading and environmental conditions and lessen the failure rate of the gearbox system. The growing shift toward renewable energy sources around the world is rising the adoption of wind turbines which leads to escalating the demand for the wind turbine gearbox.


Rapid industrialization and urbanization globally lead to a rise in demand for all business sectors. Moreover, growing awareness of the environment fosters the use of clean and renewable energy sources which results in a growing number of wind turbines around the world. Hence the wind turbine gearbox market is boosted all over the world. Furthermore, investment by market players in better designing and more efficient gearboxes will result in the best productivity and longevity. Rising investments in wind turbines for capturing energy due to their cost-effectiveness and energy efficiency are accelerating the market growth in the review period.



  • Flender, a German drive specialist, agreed to buy Moventas, a Finnish wind turbine gearbox manufacturer, from investor N4 partners in February 2022. Following last year's independence, the planned acquisition is the next step in Flender's growth strategy. The addition of Moventas' engineering and service capabilities is expected to strengthen Flender's wind drive business under the successful Winergy product brand.

  • Vestas and ZF Wind Power have released a mass-produced powertrain. The first series-produced EnVentus powertrain for the wind industry was introduced by ZF Wind Power and Vestas.


The wind turbine gearboxes market is driven by increasing energy consumption demands globally. Investments in wind turbines for capturing energy owing to its cost-effectiveness and energy-efficiency is forecasted to spur the market growth over the forecast period. Moreover, government support for renewable energy projects can positively impact the market. This is substantiated by low wind power generation costs and attractive returns ensured by onshore wind projects.


Wind Turbine Gearbox Market Competitive Landscape


Manufacturers in the wind turbine gearbox market include Siemens Gamesa Renewable Energy S.A. (Spain), Winergy AG (Germany), China High Speed Transmission Equipment Group Co. Ltd. (China), ZF Friedrichshafen (Germany), Chongqing Gearbox Co., Ltd. (China), Eickhoff Antriebstechnik GmbH (Germany), ISHIBASHI Manufacturing Co. Ltd. (Japan), and RENK AG (Germany).


Market Dynamics


Shell has introduced gearbox oil to help wind turbines last longer. Shell Lubricants has launched a new synthetic wind turbine gearbox oil in the United States.


GE Renewable Energy, Toshiba Energy Solutions, and Solutions Corporation announced a collaboration to localize critical phases of the manufacturing of the GE Haliade X offshore wind turbine and support its commercialization in Japan.


GE Renewable Energy announced that they will supply 42 units of 2.7-132 onshore wind turbines for wind projects totaling 110 megawatts in India, which will help meet the electricity demand of various industrial companies in Gujarat and Karnataka.


Recent Developments in Wind Turbine Gearbox Market



  • A well-known enterpriser, Vestas introduced the new technology V236-15.0 MW turbine in February 2021. This innovation is benefitted a lot by establishing a strong foundation for Vestas offshore leadership journey in a way by setting up a benchmark for performance and lessening the cost of offshore technology.

  • In July 2020, a highly populated enterpriser Siemens Gamesa launched their next-generation wind turbine named SG 3.4-145 in India. This advanced wind turbine is specially designed and optimized for countries' wind conditions and for providing the lowest possible LCOE with high reliability. Whereas in May 2021, the two leading organizations Vestas and Iberdrola took an agreement to supply 50 units of V174-9.5 MW offshore wind turbines for the Baltic Eagle project. They also signed a contract for maintenance and services of the new turbines.


The report offers a comprehensive analysis on the profiles on these market players and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, expansion techniques, and latest R&D initiatives are discussed in minute detail.


Wind Turbine Gearbox Market Segment Overview


By type, the wind turbine gearbox market is segmented into main gearbox, yaw gearbox, and others. By application, it is segmented into offshore and onshore wind power. By installation type, it is segmented into new and replacement. On the basis of capacity, the market is segmented into 1.5 MW-3 MW, up to 1.5 MW, and over 3 MW. The segments covered in the market report are analyzed with respect to five regions namely – North America, South America, the Middle East & Africa (MEA), Asia Pacific (APAC), and Europe. The report discusses in detail the various players residing in these regions and their respective strategies to climb up the market standings.



  • The first 4.20-MW wind turbine generator in India, a single unit with the highest generation capacity, has been installed near Valliyoor in Tirunelveli district at Vadalivilai.

  • LiftWerx will receive three up-tower cranes from KenzFigee for use with offshore and onshore wind turbines. The order includes TeleHook, Heli-Hook, and GenHook cranes for generator and gearbox swaps. All will be powered by wind turbine backfeed and will be suitable for fixed-to-fixed lifting applications on offshore wind turbines with capacities of up to 10 MW.


Wind Turbine Gearbox Market Research Methodology


Wind turbine gearboxes are essential components within wind turbines which increases its rotational speed. Manufacturers are rapdily changing their designs of gearbox to increase its resistance according to loading and environmental conditions.


At MRFR, our research analysts conduct a thorough objective analysis of the market while creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with chief executive officers and top management professionals have culminated in highly relevant data. Secondary research entails a thorough analysis of past and present trends presented in a forward-looking manner.


In addition, market size estimation and validation of trends are conducted with both top-down & bottom-up approaches to obtain data from the value and supply chain. The balanced number of buyers and suppliers will result in a negligible demand-supply gap. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Strong analytical tools are used to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.


Wind Turbine Gearbox Market Analysis Period



  • Base Year - 2021

  • Projection Period - From 2022 to 2030

  • Market Denomination - USD Million

  • Market Volume - Units

  • Conversion Rate - Considered as per the respective financial years


Wind Turbine Gearbox Market Report Overview


The report provides a comprehensive overview of the Wind Turbine Gearbox Market complete with statistical graphs to support the forecasted figures. Our analysts make insightful predictions regarding the scope of the market and its future prospects. MRFR’s report includes a thorough analysis of the global wind turbine gearbox market segmented on the basis of type, application, installation type, capacity, and region. Numerous growth strategies undertaken by companies in recent years as well as the latest trends driving the market are outlined in the report. The market share of all prominent players and their current position is discussed in minute detail. It analyzes new revenue sources for players and emphasizes on the various strategies implemented by players.


COVID-19 Analysis



  • NGC Group has announced a new research & development project aimed at developing high-linear-velocity lightweight wind turbine gear transmission systems.


Segments By Type



  • Main Gearbox

  • Yaw Gearbox

  • Others


Segments By Application



  • Offshore Wind Power

  • Onshore Wind Power


Segments By Installation Type



  • New

  • Replacement


Segments By Capacity



  • 5 MW-3 MW

  • Up to 1.5 MW

  • Over 3 MW


Regional Analysis



  • NGC, a global leader in wind turbine gearboxes and power transmission solutions, has announced the launch of a new national key R&D project, "key technologies in lightweight high-linear-velocity gear transmission systems," with NGC subsidiary Nanjing High Speed & Accurate Gear (Group) Co., Ltd. serving as the project's leading unit. The project "key technologies in lightweight high-linear-velocity gear transmission systems" aims to investigate lightweight high-linear-velocity gear transmission systems, their dynamics, top-down design, efficient lubrication, intensity improvement, and verification of their applications in the fields of aviation and turbine motors, as well as other major technical systems.


Regions




  • North America

    • U.S.

    • Canada

    • Mexico




  • Europe

    • Germany

    • U.K.

    • France

    • Turkey

    • Italy

    • Spain

    • Rest of Europe




  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

    • Rest of Asia Pacific




  • South America

    • Brazil

    • Uruguay

    • Chile

    • Rest of South America




  • The Middle East & Africa

    • South Africa

    • Rest of Middle East & Africa




Intended Audience



  • Wind turbine gearbox manufacturers

  • Potential investors

  • Raw material suppliers

  • Traders and distributors of wind turbine gearbox

  • Research and development institutes

  • Government organizations



Report Scope:

Report Attribute/Metric Details
  Market Size   2030: Significant Value
  CAGR   6.46% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application, Installation Type and Capacity
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Siemens Gamesa Renewable Energy S.A. (Spain), Winergy AG (Germany), China High Speed Transmission Equipment Group Co. Ltd. (China), ZF Friedrichshafen (Germany), Chongqing Gearbox Co., Ltd. (China), Eickhoff Antriebstechnik GmbH (Germany), ISHIBASHI Manufacturing Co. Ltd. (Japan), and RENK AG (Germany)
  Key Market Opportunities

  • Increase in rotor diameter in gearbox
  • Government support for wind energy projects
  •   Key Market Drivers

  • Significant reduction in the wind power generation costs
  • Increase in wind energy consumption


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    Frequently Asked Questions (FAQ) :

    The market can potentially grow at a rate of 6.46% in the coming years.

    The global market for wind turbine gearbox can reach a valuation of USD 8,630 million by 2025, estimates MRFR.

    Eickhoff Antriebstechnik GmbH (Germany), Chongqing Gearbox Co., Ltd. (China), China High Speed Transmission Equipment Group Co. Ltd. (China), ISHIBASHI Manufacturing Co. Ltd. (Japan), Winergy AG (Germany), Siemens Gamesa Renewable Energy S.A. (Spain), ZF Friedrichshafen (Germany), RENK AG (Germany), are the renowned companies in the market.

    Substantial investments in wind turbines combined with the increasing number of installations to expand their overall capacities are some of the prime strategies being employed by the leading companies to enhance their standings in the global market.

    South America is estimated to expand at a robust pace of 6.53% and can be valued at USD 425.7 million by 2025. Some of the chief factors supporting the market growth in the region include the energy crisis being encountered by the major countries and the rising need to solve this issue.

    The wind turbine gearbox market in Europe can expand at a decent rate of 6.45% in the forthcoming years.

    Yaw gearbox, main gearbox, and others are the primary types of wind turbine gearbox discussed in the report.