Market Overview:
The global bearings in wind power market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market is estimated to be worth USD 2,711.8 million in 2018 and is projected to reach a value of USD 3,814.1 million by 2030. The main bearing segment is expected to account for the largest share of the global bearings in wind power market by type during the forecast period from 2018 to 2030. This segment accounted for a share of more than 60% of the total bearings in wind power market in 2017 and is projected to grow at a CAGR of 5%.
Product Definition:
A bearing is a device that allows two parts to move relative to each other with reduced friction. In wind power, bearings are used in the blades of turbines to reduce the friction between the blade and the tower. This helps increase the efficiency of the turbine and prolong its lifetime.
Main Bearing:
The main bearings are used in the rolling element of the wind turbine and they help to maintain its position. The load factor on these bearings is very high, around 20% to 30%, as compared to the other bearing types. As a result, it requires higher maintenance and quality control measures during production process.
Increasing demand for renewable energy has led to an increase in installation of new wind power plants which is expected to drive market growth over the forecast period.
Yaw Bearing:
Yaw bearing is a rolling element in the form of an inner or outer race, which is mounted on the rotor and rotates with it. The yaw angle ranges between 0? to 90?. It helps to provide stability to the turbine by preventing its rotation due to wind force fluctuations.
The main function of yaw bearings is load sharing between two rotors, which are mounted at right angles to each other and rotating together about a common axis.
Application Insights:
In 2017, the horizontal wind turbine application segment dominated the global market with a share of over 60.0% and is expected to maintain its lead over the forecast period. The growth of this segment can be attributed to increasing demand for electricity in countries such as China, India and Brazil. Moreover, technological advancements in manufacturing horizontal-axis turbines are expected to fuel industry expansion further during the forecast period.
The vertical wind turbine application segment is anticipated to witness significant growth during the forecast period owing to rising deployment of these devices in offshore waters owing to their ability provide clean energy with no emissions while operating at maximum capacity. Technological advancements coupled with high efficiency levels have led vertical turbines become an attractive alternative for power generation purposes across various regions worldwide.
Regional Analysis:
North America dominated the global market in 2017 owing to the presence of a large number of wind power projects. The region is expected to continue its dominance over the forecast period, with new installations contributing significantly. For instance, as per IWPO, North America had a total installed capacity of 77 GW by end-2016 and this is anticipated to reach 123 GW by 2020.
The U.S., which accounted for more than 25% share in 2016 has been one of the leading countries for installing these turbines across the globe due to favorable government policies and strong support from citizens on account of lower electricity rates compared to other fossil fuel based power generation sources available in that country.
Asia Pacific is projected to be one of fastest growing regions during the forecast period owing rising awareness among people regarding harmful effects associated with carbon emissions caused during conventional energy production sources such as coal.
Growth Factors:
- Increasing demand for wind power due to its environment-friendly nature and growing awareness about the benefits of renewable energy sources.
- Government initiatives and subsidies for installation of wind turbines to promote use of renewable energy sources.
- Technological advancements in bearings that improve performance and efficiency of wind turbines, thus reducing the cost of electricity generated from wind power.
- Rising prices of conventional fuels such as oil, gas, and coal, which is making renewable energy sources like wind power more attractive financially.
Scope Of The Report
Report Attributes
Report Details
Report Title
Bearings in Wind Power Market Research Report
By Type
Main Bearing, Yaw Bearing, Pitch Bearing, Engine Bearing, Gearbox Bearing
By Application
Horizontal Wind Turbine, Vertical Wind Turbine
By Companies
NSK, SKF, Timken, Liebherr, NTN Bearing, Rollix, Rothe Erde, Schaeffler Group, NKE, Koyo, Galperti, DYZV, ZWZ Bearing, Zhejiang Tianma Bearing, LYC, China Jingye, Luoyang Xinneng Bearing, Shanghai United Bearing, Sinojit
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
160
Number of Tables & Figures
112
Customization Available
Yes, the report can be customized as per your need.
Global Bearings in Wind Power Market Report Segments:
The global Bearings in Wind Power market is segmented on the basis of:
Types
Main Bearing, Yaw Bearing, Pitch Bearing, Engine Bearing, Gearbox Bearing
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Horizontal Wind Turbine, Vertical Wind Turbine
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- NSK
- SKF
- Timken
- Liebherr
- NTN Bearing
- Rollix
- Rothe Erde
- Schaeffler Group
- NKE
- Koyo
- Galperti
- DYZV
- ZWZ Bearing
- Zhejiang Tianma Bearing
- LYC
- China Jingye
- Luoyang Xinneng Bearing
- Shanghai United Bearing
- Sinojit
Highlights of The Bearings in Wind Power Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Main Bearing
- Yaw Bearing
- Pitch Bearing
- Engine Bearing
- Gearbox Bearing
- By Application:
- Horizontal Wind Turbine
- Vertical Wind Turbine
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Bearings in Wind Power Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Bearings are the mechanisms that allow a wind turbine to turn. They help the turbine to move in a straight line and keep it from wobbling.
Some of the major players in the bearings in wind power market are NSK, SKF, Timken, Liebherr, NTN Bearing, Rollix, Rothe Erde, Schaeffler Group, NKE, Koyo, Galperti, DYZV, ZWZ Bearing, Zhejiang Tianma Bearing, LYC, China Jingye, Luoyang Xinneng Bearing, Shanghai United Bearing, Sinojit.
The bearings in wind power market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Bearings in Wind Power Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Bearings in Wind Power Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Bearings in Wind Power Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Bearings in Wind Power Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Bearings in Wind Power Market Size & Forecast, 2020-2028 4.5.1 Bearings in Wind Power Market Size and Y-o-Y Growth 4.5.2 Bearings in Wind Power Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Main Bearing
5.2.2 Yaw Bearing
5.2.3 Pitch Bearing
5.2.4 Engine Bearing
5.2.5 Gearbox Bearing
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Horizontal Wind Turbine
6.2.2 Vertical Wind Turbine
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Bearings in Wind Power Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Bearings in Wind Power Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Main Bearing
9.6.2 Yaw Bearing
9.6.3 Pitch Bearing
9.6.4 Engine Bearing
9.6.5 Gearbox Bearing
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Horizontal Wind Turbine
9.10.2 Vertical Wind Turbine
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Main Bearing
10.6.2 Yaw Bearing
10.6.3 Pitch Bearing
10.6.4 Engine Bearing
10.6.5 Gearbox Bearing
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Horizontal Wind Turbine
10.10.2 Vertical Wind Turbine
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Main Bearing
11.6.2 Yaw Bearing
11.6.3 Pitch Bearing
11.6.4 Engine Bearing
11.6.5 Gearbox Bearing
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Horizontal Wind Turbine
11.10.2 Vertical Wind Turbine
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Main Bearing
12.6.2 Yaw Bearing
12.6.3 Pitch Bearing
12.6.4 Engine Bearing
12.6.5 Gearbox Bearing
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Horizontal Wind Turbine
12.10.2 Vertical Wind Turbine
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Main Bearing
13.6.2 Yaw Bearing
13.6.3 Pitch Bearing
13.6.4 Engine Bearing
13.6.5 Gearbox Bearing
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Horizontal Wind Turbine
13.10.2 Vertical Wind Turbine
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Bearings in Wind Power Market: Competitive Dashboard
14.2 Global Bearings in Wind Power Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 NSK
14.3.2 SKF
14.3.3 Timken
14.3.4 Liebherr
14.3.5 NTN Bearing
14.3.6 Rollix
14.3.7 Rothe Erde
14.3.8 Schaeffler Group
14.3.9 NKE
14.3.10 Koyo
14.3.11 Galperti
14.3.12 DYZV
14.3.13 ZWZ Bearing
14.3.14 Zhejiang Tianma Bearing
14.3.15 LYC
14.3.16 China Jingye
14.3.17 Luoyang Xinneng Bearing
14.3.18 Shanghai United Bearing
14.3.19 Sinojit