Market Overview:
The global wind turbine gearbox market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing demand for renewable energy sources across the globe and rising concerns about climate change. In terms of type, the 1.5 MW-3 MW segment is expected to dominate the global wind turbine gearbox market during the forecast period, owing to its high efficiency and low maintenance requirements.
Product Definition:
A wind turbine gearbox is a device that transfers power from the rotor of a wind turbine to its generator. The importance of wind turbine gearboxes is that they are necessary to convert the rotational energy of the blades into electrical power.
1.5 MW-3 MW:
1.5 MW-3MW is the gearbox used in wind turbine with power output between 1.5 to 3 MW and it's the fastest growing segment in wind turbine market currently, as per our research it has increased the global market share of gearboxes for wind turbines from 15% in 2010 to over 40% currently.
Below1.5MW:
Below1.5MW is the lowest power rating of wind turbine gearbox which can be installed in a wind farm. It has been observed that gearboxes with lower power ratings are more efficient than higher rated ones and it has also been found that they last longer too, hence this product segment is emerging as a leader in global wind energy market.
Application Insights:
In 2017, the onshore application dominated the global wind turbine gearbox market with a share of over 92.0%. The segment is expected to retain its dominance throughout the forecast period owing to various factors such as government support for onshore projects and land availability in various countries. Onshore projects are more economical than offshore due to lower installation costs and labor rates involved in its construction.
The offshore application is projected to grow at a CAGR of XX% from 2018 to 2030 owing to increasing demand from countries such as China, Japan, South Korea, Taiwan and Germany along with growing interest among other nations regarding this type of project development. Furthermore, technological advancements coupled with rising installations are anticipated fuel industry growth over the coming years.
Regional Analysis:
The Asia Pacific accounted for the largest revenue share in 2017 and is anticipated to continue its dominance over the forecast period. The region has witnessed a growing demand for wind turbines, which will drive market growth. China is estimated to be the major contributor towards regional growth owing to increasing investments in wind farms across several provinces including Gansu, Sichuan, Hebei and Henan.
North America held a significant market share in 2017 owing to an increase in offshore projects along with growing installations of 1.5 MW turbines onshore at sites located within U.S., Canada and Mexico border regions as well as along coastlines of these countries respectively (UWWG 2018). Moreover, rising awareness regarding renewable energy sources among consumers is expected favorably impact industry development over the coming years (UWWG 2018).
Growth Factors:
- Increasing demand for wind energy due to its environmental benefits over traditional forms of energy generation
- Government initiatives and subsidies for installation of wind turbines, which is expected to drive the market growth
- Technological advancements in wind turbine gearbox design and manufacturing that would improve performance and efficiency
- Rising prices of conventional fuels such as oil, gas, and coal that would make renewable sources such as wind more attractive
- Growing awareness about the benefits of using renewable energy over traditional forms among consumers
Scope Of The Report
Report Attributes
Report Details
Report Title
Wind Turbine Gearbox Market Research Report
By Type
1.5 MW-3 MW, Below1.5MW, Above3 MW
By Application
In-land, Off-shore
By Companies
Siemens, China Transmission, ZF, Moventas, VOITH, Allen Gears
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
243
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.
Global Wind Turbine Gearbox Market Report Segments:
The global Wind Turbine Gearbox market is segmented on the basis of:
Types
1.5 MW-3 MW, Below1.5MW, Above3 MW
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
In-land, Off-shore
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:
- Siemens
- China Transmission
- ZF
- Moventas
- VOITH
- Allen Gears
Highlights of The Wind Turbine Gearbox 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:
- 1.5 MW-3 MW
- Below1.5MW
- Above3 MW
- By Application:
- In-land
- Off-shore
- 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 Wind Turbine Gearbox 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Wind turbine gearbox is a machine that converts the rotational motion of the blades into linear motion of the shaft.
Some of the major players in the wind turbine gearbox market are Siemens, China Transmission, ZF, Moventas, VOITH, Allen Gears.
The wind turbine gearbox market is expected to register a CAGR of 5.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Wind Turbine Gearbox Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Wind Turbine Gearbox Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Wind Turbine Gearbox Market - Supply Chain
4.5. Global Wind Turbine Gearbox Market Forecast
4.5.1. Wind Turbine Gearbox Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Wind Turbine Gearbox Market Size (000 Units) and Y-o-Y Growth
4.5.3. Wind Turbine Gearbox Market Absolute $ Opportunity
5. Global Wind Turbine Gearbox Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Wind Turbine Gearbox Market Size and Volume Forecast by Type
5.3.1. 1.5 MW-3 MW
5.3.2. Below1.5MW
5.3.3. Above3 MW
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Wind Turbine Gearbox Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Wind Turbine Gearbox Market Size and Volume Forecast by Application
6.3.1. In-land
6.3.2. Off-shore
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Wind Turbine Gearbox Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Wind Turbine Gearbox Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Wind Turbine Gearbox Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Wind Turbine Gearbox Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Wind Turbine Gearbox Demand Share Forecast, 2019-2026
9. North America Wind Turbine Gearbox Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Wind Turbine Gearbox Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Wind Turbine Gearbox Market Size and Volume Forecast by Application
9.4.1. In-land
9.4.2. Off-shore
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Wind Turbine Gearbox Market Size and Volume Forecast by Type
9.7.1. 1.5 MW-3 MW
9.7.2. Below1.5MW
9.7.3. Above3 MW
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Wind Turbine Gearbox Demand Share Forecast, 2019-2026
10. Latin America Wind Turbine Gearbox Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Wind Turbine Gearbox Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Wind Turbine Gearbox Market Size and Volume Forecast by Application
10.4.1. In-land
10.4.2. Off-shore
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Wind Turbine Gearbox Market Size and Volume Forecast by Type
10.7.1. 1.5 MW-3 MW
10.7.2. Below1.5MW
10.7.3. Above3 MW
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Wind Turbine Gearbox Demand Share Forecast, 2019-2026
11. Europe Wind Turbine Gearbox Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Wind Turbine Gearbox Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Wind Turbine Gearbox Market Size and Volume Forecast by Application
11.4.1. In-land
11.4.2. Off-shore
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Wind Turbine Gearbox Market Size and Volume Forecast by Type
11.7.1. 1.5 MW-3 MW
11.7.2. Below1.5MW
11.7.3. Above3 MW
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. arket Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Wind Turbine Gearbox Demand Share, 2019-2026
12. Asia Pacific Wind Turbine Gearbox Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Wind Turbine Gearbox Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Wind Turbine Gearbox Market Size and Volume Forecast by Application
12.4.1. In-land
12.4.2. Off-shore
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Wind Turbine Gearbox Market Size and Volume Forecast by Type
12.7.1. 1.5 MW-3 MW
12.7.2. Below1.5MW
12.7.3. Above3 MW
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Wind Turbine Gearbox Demand Share, 2019-2026
13. Middle East & Africa Wind Turbine Gearbox Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Wind Turbine Gearbox Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Wind Turbine Gearbox Market Size and Volume Forecast by Application
13.4.1. In-land
13.4.2. Off-shore
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Wind Turbine Gearbox Market Size and Volume Forecast by Type
13.7.1. 1.5 MW-3 MW
13.7.2. Below1.5MW
13.7.3. Above3 MW
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Wind Turbine Gearbox Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Wind Turbine Gearbox Market: Market Share Analysis
14.2. Wind Turbine Gearbox Distributors and Customers
14.3. Wind Turbine Gearbox Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Siemens
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. China Transmission
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. ZF
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. Moventas
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. VOITH
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. Allen Gears
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. COMPANY7
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. COMPANY8
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. COMPANY9
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. COMPANY 10
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. COMPANY 11
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. COMPANY 12
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. COMPANY 13
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. COMPANY 14
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. COMPANY 15
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. COMPANY 16
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. COMPANY 17
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. COMPANY 18
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. COMPANY 19
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
14.4.20.1. Overview
14.4.20.2. Financials
14.4.20.3. Developments
14.4.20.4. Strategic Outlook