Wind Turbine Gearbox Market Size, Share, and Analysis By Application (Offshore Wind Power and Onshore Wind Power), By Installation Type (New and Replacement), By Type (Main Gearbox, Yaw Gearbox, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2023-2032
Wind Turbine Gearbox Market Size, Share, and Analysis By Application (Offshore Wind Power and Onshore Wind Power), By Installation Type (New and Replacement), By Type (Main Gearbox, Yaw Gearbox, and Others), and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2023-2032
PRODUCT OVERVIEW
Wind Turbine Gearbox Market is expected t%li%grow at a CAGR of 8.2 % in the forecast period (2023-2032), with the market size valued at USD 19.27 billion in 2021 and projected t%li%reach USD 45.6 billion by 2032.
The wind turbine gearbox market refers t%li%the global industry that manufactures and distributes gearboxes specifically engineered for use in wind turbines. These gearboxes are critical components of wind energy systems as they transfer and regulate the rotational speed of the wind turbine's blades t%li%generate electrical power efficiently. Historically, market patterns have been shaped by variables such as technology breakthroughs, government policies favoring renewable energy, and the overall growth of the wind energy sector. Government incentives and regulations targeted at decreasing carbon emissions and developing renewable energy sources remain critical in driving industry growth. Additionally, as worldwide demand for sustainable energy solutions grows, wind energy projects in emerging regions are opening up new prospects for gearbox makers.
MARKET HIGHLIGHTS
Wind Turbine Gearbox Market is expected t%li%reach USD 45.6 billion, growing at a CAGR of 8.2%. The market is expanding owing t%li%the growth of the wind turbine gearbox market, which is supported by government policies and incentives, advancements in gearbox technology enhancing efficiency and reliability, cost-cutting initiatives such as direct-drive systems, increased environmental awareness, the diversification of wind turbine designs, and the emergence of wind energy projects in both developed and developing countries. These elements, taken together, contribute t%li%the industry's continuous growth, innovation, and sustainability, making wind turbine gearboxes an essential component in the global pursuit of clean and sustainable energy solutions.
Wind Turbine Gearbox Market Segments:
Growth Drivers
Favorable Government Policies and Regulations t%li%Support Potential Growth
Increasing Wind Energy Investments t%li%Drive Market Growth
Restraint
Wind Turbine Market Growth Would be Hampered by High Operating and Maintenance Costs
Key Players
PRODUCT OVERVIEW
Wind Turbine Gearbox Market is expected t%li%grow at a CAGR of 8.2 % in the forecast period (2023-2032), with the market size valued at USD 19.27 billion in 2021 and projected t%li%reach USD 45.6 billion by 2032.
The wind turbine gearbox market refers t%li%the global industry that manufactures and distributes gearboxes specifically engineered for use in wind turbines. These gearboxes are critical components of wind energy systems as they transfer and regulate the rotational speed of the wind turbine's blades t%li%generate electrical power efficiently. Historically, market patterns have been shaped by variables such as technology breakthroughs, government policies favoring renewable energy, and the overall growth of the wind energy sector. Government incentives and regulations targeted at decreasing carbon emissions and developing renewable energy sources remain critical in driving industry growth. Additionally, as worldwide demand for sustainable energy solutions grows, wind energy projects in emerging regions are opening up new prospects for gearbox makers.
MARKET HIGHLIGHTS
Wind Turbine Gearbox Market is expected t%li%reach USD 45.6 billion, growing at a CAGR of 8.2%. The market is expanding owing t%li%the growth of the wind turbine gearbox market, which is supported by government policies and incentives, advancements in gearbox technology enhancing efficiency and reliability, cost-cutting initiatives such as direct-drive systems, increased environmental awareness, the diversification of wind turbine designs, and the emergence of wind energy projects in both developed and developing countries. These elements, taken together, contribute t%li%the industry's continuous growth, innovation, and sustainability, making wind turbine gearboxes an essential component in the global pursuit of clean and sustainable energy solutions.
Wind Turbine Gearbox Market Segments:
- By Type
- Main Gearbox
- Yaw Gearbox
- Others
- By Application
- Offshore Wind Power
- Onshore Wind Power
- By Installation Type
- New
- Replacement
Growth Drivers
Favorable Government Policies and Regulations t%li%Support Potential Growth
Increasing Wind Energy Investments t%li%Drive Market Growth
Restraint
Wind Turbine Market Growth Would be Hampered by High Operating and Maintenance Costs
Key Players
- Siemens Gamesa Renewable Energy
- Vestas Wind Systems
- GE Renewable Energy
- Enercon GmbH
- Suzlon Energy Limited
- Xinjiang Goldwind Science & Technology Co., Ltd.
- Winergy Group
- ZF Friedrichshafen AG
- Moventas
- Bosch Rexroth AG
- Dana Incorporated
- Brevini Power Transmission
- Renk AG
- Allen Gears
- Nordex SE
- Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)
- North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
- Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
- Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
- Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
- Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA
- Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
- Provision of market value (USD Billion) data for each segment and sub-segment
- Indicates the region and segment that is expected t%li%witness the fastest growth as well as t%li%dominate the market
- Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
- Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
- Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
- The current as well as the future market outlook of the industry with respect t%li%recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
- Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
- Provides insight int%li%the market through Value Chain
- Market dynamics scenario, along with growth opportunities of the market in the years t%li%come
- 3-month post-sales analyst support.
1.EXECUTIVE SUMMARY
1.1. Regional Market Share
1.2.Business Trends
1.3. Wind Turbine Gearbox Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Wind Turbine Gearbox Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.WIND TURBINE GEARBOX MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview on world economy
4.3.Industry ecosystem Channel analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porters Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.WIND TURBINE GEARBOX MARKET
10.1.Overview
10.2. Historical Analysis (2019-2021)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Application
11.3.1.1. Onshore Wind Power
11.3.1.1.1.By Value (USD Million) 2022-2032F
11.3.1.1.2. Market Share (%) 2022-2032F
11.3.1.1.3. Y-o-Y Growth (%) 2022-2032F
11.3.1.2. Offshore Wind Power
11.3.1.2.1. By Value (USD Million) 2022-2032F
11.3.1.2.2.Market Share (%) 2022-2032F
11.3.1.2.3.Y-o-Y Growth (%) 2022-2032F
11.3.2. By Type
11.3.2.1.Main Gearbox
11.3.2.1.1. By Value (USD Million) 2022-2032F
11.3.2.1.2.Market Share (%) 2022-2032F
11.3.2.1.3.Y-o-Y Growth (%) 2022-2032F
11.3.2.2. Yaw Gearbox
11.3.2.2.1.By Value (USD Million) 2022-2032F
11.3.2.2.2. Market Share (%) 2022-2032F
11.3.2.2.3. Y-o-Y Growth (%) 2022-2032F
11.3.2.3. Others
11.3.2.3.1.By Value (USD Million) 2022-2032F
11.3.2.3.2. Market Share (%) 2022-2032F
11.3.2.3.3. Y-o-Y Growth (%) 2022-2032F
11.3.3.By Installation Type
11.3.3.1 New
11.3.3.1.1By Value (USD Million) 2022-2032F
11.3.3.1.2 Market Share (%) 2022-2032F
11.3.3.1.3 Y-o-Y Growth (%) 2022-2032F
11.3.3.2Replacement
11.3.3.2.1 By Value (USD Million) 2022-2032F
11.3.3.2.2Market Share (%) 2022-2032F
11.3.3.3.1 Y-o-Y Growth (%) 2022-2032F
12.NORTH AMERICA WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Application
12.3.2. By Type
12.3.3. By Installation Type
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Application
13.3.2. By Type
13.3.3. By Installation Type
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Application
14.3.2. By Type
14.3.3. By Installation Type
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Application
15.3.2. By Type
15.3.3. By Installation Type
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Application
16.3.2. By Type
16.3.3. By Installation Type
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2021
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1. Siemens Gamesa Renewable Energy
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2.Vestas Wind Systems
18.3.GE Renewable Energy
18.4.Nordex SE
18.5.Enercon GmbH
18.6.Suzlon Energy Limited
18.7.Xinjiang Goldwind Science & Technology Co., Ltd.
18.8.Winergy Group
18.9.ZF Friedrichshafen AG
18.10.Moventas
18.11. Bosch Rexroth AG
18.12.Dana Incorporated
18.13.Brevini Power Transmission
18.14.Renk AG
18.15.Allen Gears
18.16.Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
1.1. Regional Market Share
1.2.Business Trends
1.3. Wind Turbine Gearbox Market: COVID-19 Outbreak
1.4. Regional Trends
1.5. Segmentation Snapshot
2. RESEARCH METHODOLOGY
2.1.Research Objective
2.2. Research Approach
2.3. Data Sourcing and Methodology
2.4.Primary Research
2.5.Secondary Research
2.5.1.Paid Sources
2.5.2. Public Sources
2.6. Market Size Estimation and Data Triangulation
3. MARKET CHARACTERISTICS
3.1.Market Definition
3.2.Wind Turbine Gearbox Market: COVID-19 Impact
3.3. Key Segmentations
3.4.Key Developments
3.5.Allied Industry Data
4.WIND TURBINE GEARBOX MARKET – INDUSTRY INSIGHTS
4.1. Industry Segmentation
4.2.COVID-19 overview on world economy
4.3.Industry ecosystem Channel analysis
4.4.Innovation & Sustainability
5. MACROECONOMIC INDICATORS
6. RECENT DEVELOPMENTS
7. MARKET DYNAMICS
7.1.Introduction
7.2. Growth Drivers
7.3. Market Opportunities
7.4.Market Restraints
7.5. Market Trends
8.RISK ANALYSIS
9. MARKET ANALYSIS
9.1.Porters Five Forces
9.2. PEST Analysis
9.2.1.Political
9.2.2. Economic
9.2.3. Social
9.2.4. Technological
10.WIND TURBINE GEARBOX MARKET
10.1.Overview
10.2. Historical Analysis (2019-2021)
10.2.1. Market Size, Y-o-Y Growth (%) and Market Forecast
11. WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
11.1. Overview
11.2.Key Findings
11.3.Market Segmentation
11.3.1.By Application
11.3.1.1. Onshore Wind Power
11.3.1.1.1.By Value (USD Million) 2022-2032F
11.3.1.1.2. Market Share (%) 2022-2032F
11.3.1.1.3. Y-o-Y Growth (%) 2022-2032F
11.3.1.2. Offshore Wind Power
11.3.1.2.1. By Value (USD Million) 2022-2032F
11.3.1.2.2.Market Share (%) 2022-2032F
11.3.1.2.3.Y-o-Y Growth (%) 2022-2032F
11.3.2. By Type
11.3.2.1.Main Gearbox
11.3.2.1.1. By Value (USD Million) 2022-2032F
11.3.2.1.2.Market Share (%) 2022-2032F
11.3.2.1.3.Y-o-Y Growth (%) 2022-2032F
11.3.2.2. Yaw Gearbox
11.3.2.2.1.By Value (USD Million) 2022-2032F
11.3.2.2.2. Market Share (%) 2022-2032F
11.3.2.2.3. Y-o-Y Growth (%) 2022-2032F
11.3.2.3. Others
11.3.2.3.1.By Value (USD Million) 2022-2032F
11.3.2.3.2. Market Share (%) 2022-2032F
11.3.2.3.3. Y-o-Y Growth (%) 2022-2032F
11.3.3.By Installation Type
11.3.3.1 New
11.3.3.1.1By Value (USD Million) 2022-2032F
11.3.3.1.2 Market Share (%) 2022-2032F
11.3.3.1.3 Y-o-Y Growth (%) 2022-2032F
11.3.3.2Replacement
11.3.3.2.1 By Value (USD Million) 2022-2032F
11.3.3.2.2Market Share (%) 2022-2032F
11.3.3.3.1 Y-o-Y Growth (%) 2022-2032F
12.NORTH AMERICA WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
12.1.Overview
12.2. Key Findings
12.3. Market Segmentation
12.3.1.By Application
12.3.2. By Type
12.3.3. By Installation Type
12.4. Country
12.4.1. United States
12.4.2. Canada
13.EUROPE WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
13.1.Overview
13.2. Key Findings
13.3. Market Segmentation
13.3.1.By Application
13.3.2. By Type
13.3.3. By Installation Type
13.4.Country
13.4.1.Germany
13.4.2. United Kingdom
13.4.3. France
13.4.4. Italy
13.4.5. Spain
13.4.6. Russia
13.4.7. Rest of Europe (BENELUX, NORDIC, Hungary, Turkey & Poland)
14.ASIA-PACIFIC WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
14.1. Overview
14.2. Key Findings
14.3.Market Segmentation
14.3.1.By Application
14.3.2. By Type
14.3.3. By Installation Type
14.4. Country
14.4.1.India
14.4.2. China
14.4.3. South Korea
14.4.4.Japan
14.4.5.Rest of APAC
15.MIDDLE EAST AND AFRICA WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
15.1.Overview
15.2. Key Findings
15.3. Market Segmentation
15.3.1.By Application
15.3.2. By Type
15.3.3. By Installation Type
15.4.Country
15.4.1. Israel
15.4.2. GCC
15.4.3. North Africa
15.4.4.South Africa
15.4.5. Rest of Middle East and Africa
16. LATIN AMERICA WIND TURBINE GEARBOX MARKET SIZE & FORECAST 2022A-2032F
16.1.Overview
16.2. Key Findings
16.3. Market Segmentation
16.3.1.By Application
16.3.2. By Type
16.3.3. By Installation Type
16.4.Country
16.4.1. Mexico
16.4.2. Brazil
16.4.3. Rest of Latin America
17. COMPETITIVE LANDSCAPE
17.1.Company market share, 2021
17.2. Key player overview
17.3. Key stakeholders
18. COMPANY PROFILES
18.1. Siemens Gamesa Renewable Energy
18.1.1.Company Overview
18.1.2.Financial Overview
18.1.3.Key Product; Analysis
18.1.4.Company Assessment
18.1.4.1.Product Portfolio
18.1.4.2.Key Clients
18.1.4.3. Market Share
18.1.4.4. Recent News & Development (Last 3 Yrs.)
18.1.4.5. Executive Team
18.2.Vestas Wind Systems
18.3.GE Renewable Energy
18.4.Nordex SE
18.5.Enercon GmbH
18.6.Suzlon Energy Limited
18.7.Xinjiang Goldwind Science & Technology Co., Ltd.
18.8.Winergy Group
18.9.ZF Friedrichshafen AG
18.10.Moventas
18.11. Bosch Rexroth AG
18.12.Dana Incorporated
18.13.Brevini Power Transmission
18.14.Renk AG
18.15.Allen Gears
18.16.Other Prominent Players
19. APPENDIX
20.CONSULTANT RECOMMENDATION
