Wind Turbine Gearbox Repair and Refurbishment Market Recent Trends, Growth Analysis Report, Insights, Outlook, Industry Analysis and Forecasts 2030

Wind Turbine Gearbox Repair and Refurbishment

Installation of wind turbines has been increasing significantly for the last few years. Wind turbines provide cleaner and cheaper energy vis-à-vis fossil fuel; consequently, the demand for wind turbines has been rising globally.

The wind turbine gearbox is a key component of the wind mill. Demand for wind turbine gearbox repair and refurbishment is rising owing to an increase in the number of aging wind turbines.

Especially, wind turbines operating in harsh weather conditions are more likely to require gearbox repair and refurbishment. Vibration analysis is an effective technique to monitor the condition of the gears and determine the root cause of equipment failure.

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Key Drivers of Global Wind Turbine Gearbox Repair and Refurbishment Market

The global wind turbine gearbox repair and refurbishment market has been expanding owing to rise in industrialization and urbanization globally. This is boosting the demand for energy across the globe. Investments in offshore wind energy have also been rising at a rapid pace across the globe.

Rise of government initiatives to promote wind energy in rural areas is also anticipated to boost the demand for wind turbine gearbox repair and refurbishment in the near future

Key Players Operating in Market

Major players operating in the global wind turbine gearbox repair and refurbishment market include:

Siemens Gamesa Renewable Energy, S.A.

Dana Motion Systems Italia

ME PRODUCTION

STORK

NGC

Flender

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COVID-19 Impact Analysis

The spread of coronavirus has disrupted the maintenance schedule of the wind turbine. The pandemic has hampered the supply of raw materials and labor in the market. Ongoing renewable projects are at a standstill due to unavailability of labor, while new projects are being delayed. Most manufacturers are focused on the adoption of new strategies to reform their business models.

Key Development

On October 21, 2020, NGC, a global expert in wind turbine gearboxes and power transmission solutions, introduced a new national key R&D project, "key technologies in lightweight high-linear-velocity gear transmission systems", with the NGC's subsidiary Nanjing High Speed & Accurate Gear (Group) Co., Ltd. serving as the project's leading unit. The goal of the "key technologies in lightweight high-linear-velocity gear transmission systems" project is to research lightweight high-linear-velocity lightweight gear transmission systems, the optimization of their dynamics, their top-down design, efficient lubrication, intensity improvement, and verification of their applications in the fields of aviation and turbine motors as well as other major technical systems.

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Asia Pacific to Hold Major Share of Global Wind Turbine Gearbox Repair and Refurbishment Market

Based on region, the global wind turbine gearbox repair and refurbishment market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

Europe dominated the global wind turbine gearbox repair and refurbishment market in 2019, owing to high investment in the renewable energy sector. Countries in the region are focused on generation of energy via renewable sources in order to achieve the 2020 renewable energy target. Investments in offshore wind energy are also rising in Europe.

North America is likely to account for vital share of the global wind turbine gearbox repair and refurbishment market during the forecast period. The region is investing significantly in various sources of renewable energy. After China, the U.S. has a prominent installed base of wind energy in the world.

Asia Pacific is anticipated to be a highly attractive region of the global market during the forecast period, owing to significant investment in wind energy in the region. Investments in the renewable energy sector are increasing at a rapid pace in countries such as China, India, and Japan in Asia Pacific. This is anticipated to drive the market in the region. China has the highest installed base of wind power in the world.

The market in Middle East & Africa is expected to expand at a healthy pace during the forecast period. The region is focusing on development of the renewable energy sector.

The market in Latin America is likely to be expand at a sluggish pace during the forecast period owing to low investments in the renewable sector in the region

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