Wind Turbine Gearbox Market: Global Opportunity Analysis and Industry Forecast, 2023-2030 Market

A gearbox is one of the key components of a wind turbine that helps in increasing the rotational speed of the shaft with the help of an electric generator. Since the gearbox in a wind turbine is subjected to heavy load due to the fluctuating velocities of the wind the designs of the gearbox are very crucial to minimize the failure rate of the gearbox system. The noticeable global shift toward renewable energy sources has caused an increase in adoption of wind turbines. As a result, there is an escalation in demand for wind turbine gearbox in the market.

COVID-19 scenario analysis:

The outbreak of the COVID-19 pandemic is severely affected the global wind turbine gearbox market.

• Due to the nationwide lockdowns imposed by several governments to contain the virus, most of the major business activities were shut down. This has caused a drastic fall in the demand for energy across the globe. As a result the applications for wind turbine gearbox decreased thereby affecting the market growth.

• The outbreak of the global pandemic has caused delays in the development of several new power generation projects, which has also affected the growth of the global wind turbine gearbox.

Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

The urbanization and rapid industrialization across the globe has caused an increase in demand for energy in all sectors of the businesses. However, the surge in environmental awareness has propelled the use of clean and renewable energy sources. Thus, there is a rise in the number of wind turbines all over the world thereby boosting the growth of the global wind turbine gearbox market. A gearbox is a major component in a wind turbine as it accelerates the rotation of the shafts thereby increasing the productivity. The major companies are investing on designing better and more efficient gearboxes that will have better productivity and longevity. However, the higher rates of failure of gearboxes and the higher cost for restoration of wind turbines limit the market growth.

Europe holds a significant share of the global wind turbine gearbox market due to the presence of major manufacturers of gearbox systems for wind turbines in countries such as Germany, Italy, and France. The markets in the Asia-Pacific region is also expected to grow at a significant pace with the rapid infrastructural development and the surge in popularity of using renewable sources of energy in the developing economies of the region.

Key benefits of the report:

• This study presents the analytical depiction of the global wind turbine gearbox industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global wind turbine gearbox market share.
• The current market is quantitatively analyzed to highlight the global wind turbine gearbox market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global wind turbine gearbox market analysis based on competitive intensity and how the competition will take shape in coming years. 

 Wind Turbine Gearbox Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights