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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.

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.

Key players operating in the market include GE Energy, Suzlon Energy, Bosch Rexroth, Dana Brevini Power - Transmission SpA, Winergy, and Gamesa.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Wind Turbine Gearbox Market

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