Wind Energy Bearings Market is Forecasted to Reach US$ 2032 million in 2026, Says Stratview Research

The global wind energy bearings market size was valued at US$ 1530.2 million in 2020 and is projected to reach US$ 2032 million by 2026, witnessing a market growth CAGR of 7.1% from 2021 to 2026, according to an analysis by Stratview Research.

Stratview Research, a global market research firm, has launched a report on the global wind energy bearings market, which provides a comprehensive outlook of the global and regional industry forecast, current & emerging market trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1838/wind-energy-bearings-market.html#form

Market Statistics:
Market Size in 2020: US$ 1530.2 million
Market Size in 2026: US$ 2032 million
Growth (CAGR): 7.1% during 2021-2026
Cumulative Sales Opportunity 2021 to 2026: US$ 9753 million
Leading Bearing Type: Roller bearing
Leading Material Type: Metallic bearing
Leading Application Type: Gear box
Leading Region: Asia-Pacific
Forecast Period: 2021-2026
Trend Period: 2015-2019
Base Year: 2020
Number of Segments Covered: 6
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights & Market Share Analysis of the Wind Energy Bearings Market:

The global wind energy bearings market is segmented based on platform type, bearing type, material type, application type, end-user type, and region.

Based on Bearing Type
• The market is segmented into Ball Bearings (Deep Groove Ball Bearing, Angular Contact Ball Bearing, and Others), Roller Bearings (Cylindrical Roller, Tapered Roller Bearing, and Spherical Roller Bearing), and Slewing Bearings.
• Roller bearing is expected to remain the largest and the fastest-growing bearing type in the market during the forecast period.
• Roller bearings are extensively used in applications, such as gearbox, main shafts, and generators because they can handle high radial & thrust loads and tilt movements.

Based on Material Type
• The market is segmented into metallic bearings, non-metallic bearings, and hybrid bearings.
• Metallic bearing holds the mammoth lead in the market.
• Metallic bearings perform well when they come to extreme momentary overloads.
• In the event of a problem of alignment or lubrication, metal-bearing can compensate with greater ease than other types of bearings.

Based on Application Type
• The wind energy bearing market is segmented into gearbox, main shaft, electric generator, and others.
• The gear box has a major use of bearings during the forecast period.
• Among these, the gear box has a major use of bearings. Gearbox's reliability has improved remarkably in the past years due to a better understanding of bearing loads.

To know the most attractive segments, click here for a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/1838/wind-energy-bearings-market.html#form

Which region shows the most promising growth forecast and opportunity?

The analysis suggests that Asia Pacific is expected to remain the largest market for wind energy bearings during the forecast period. This growth outlook is mainly attributed to the following:
• The wind energy bearings market in the Asia Pacific region is expected to grow significantly during the forecast period, owing to favorable policies and growing investments towards wind farms in both offshore and onshore platforms.
• China, the world's largest wind power market, is driving the growth. In 2020, as per the report from GWEC, China installed over 52 GW of new capacity which is more than half of the global wind power capacity installed in the year. India, South Korea, Taiwan, Japan, and Vietnam are the other key markets in the region.

On the other hand, North America and Europe also hold key positions in the market, driven by increasing investment towards the clean source of energy, favorable policies, and the presence of key players across the supply chain such as Timken, SKF, Schaeffler Group, Siemens Gamesa, Vestas, and GE.

Wind Energy Bearings Market Drivers:

Some of the key drivers listed in the report are given below.
• The wind energy bearings market is mainly driven by increasing installations of wind turbines, increasing wind turbine fleet (the aftermarket level), and growing need for reliable and efficient components with the rise in the average length of wind turbine blades and turbines.
• The major factor that directly impacts the bearings market for wind energy is the investment from the key economies as it requires huge capital to install a wind farm.
• In recent years, emerging economies, such as India, Brazil, and South Africa, have shown keen interest in wind energy to reduce their dependency on non-renewable sources.

Competitive Landscape: Top Companies in the Wind Energy Bearings Market:

Stratview Research has identified the following companies as the top market players:
• Iljin
• JTEKT Corporation
• LYC Bearings
• NSK Ltd.
• NTN Corporation
• Schaeffler Group
• SKF
• The Timken Company
• TMB Group
• ZWZ Group

What Unique Insights Does This Report Offer?
This report provides comprehensive insights into the market, answering critical questions like
- How big is the sales opportunity?
- Which regions offer the best sales opportunities?
- Which are the most attractive market segments?
- Which are the top players and their market positioning?
- How complex is the business environment?
- What are the factors affecting the market?
For Customization or Any Other Queries, get in Touch with our industry experts at sales@stratviewresearch.com

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