Albany, NY -- (SBWIRE) -- 03/23/2018 -- Increasing demand for clean energy has propelled the market for wind turbines. Majority of wind turbines operating currently use a gearbox system. Rise in the number of wind turbines across the globe has boosted the wind turbine gearbox market. Different components in a wind turbine play an important role in optimizing the speed for maximum efficiency. Thus, a gearbox plays a critical part in a wind turbine, as it accelerates the slower turbine rotations to fast generator rotational speed. Yet, in contrast to conventional gearboxes, a wind turbine gearbox does not switch gears. Rather, it retains a single gear ratio between the generator and rotor rotation.
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The global wind turbine gearbox market is expected to expand at a substantial pace in the near future primarily due to the rise in demand for clean energy. This increase in demand for clean energy is encouraging power generation companies and agencies across the globe to construct wind farms. The cost of wind technology has fallen significantly in recent years as wind farms are becoming more and more common. This, in turn, is making the technology reasonably priced for power generation companies. Low cost of technology and government support from various countries in Europe, the Middle East, and North America have augmented the adoption of wind power. Developing countries such as India and China also offer a huge motivation to the demand for wind power as the government of these countries are funding various projects for the growth of the wind energy sector. Thus, growth in the wind power industry is driving the wind turbine gearbox market.
High rate of failure of wind turbine gearboxes as a result of wide variability in wind patterns and speeds is the major drawback of the wind turbine gearbox market. Gearbox failures often account for significant part of the cost of repair and restoration of wind turbines. The frequency of occurrence of a gearbox failure is comparatively lesser than the number of failures of sensors, control systems, and electrical units; however, the costs of gearbox repairs are significantly high. Furthermore, the number of "days out" per failure are considerably higher in case of a gearbox failure. Nevertheless, the need to produce clean energy and the common goal to reduce carbon dioxide gas emission are estimated to boost the wind energy sector, thus augmenting the market for wind turbine gearbox in the near future. Furthermore, to overcome the increasing instances of power supply shortages is estimated to augment the demand for wind energy in the commercial as well as the residential sector. This, in turn, is estimated to propel the demand for gearbox wind turbines.
The wind turbine gearbox market can be segmented based on capacity, application, and region. In terms of capacity, the market can be divided into less than 3MW, between 3MW and 6MW, and more than 6MW. Based on application, the market can be bifurcated into onshore and offshore. In terms of region, the wind turbine gearbox market can be segregated into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
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Key players operating in the market include GE Energy, Suzlon Energy, Bosch Rexroth, Dana Brevini Power - Transmission SpA, Winergy, and Gamesa.