Wind Turbine Gearbox Market

Wind Turbine Gearbox Market Size, Share, Growth Analysis, By Type(New, Replacement), By Application(Offshore, Onshore), By Region(North America, Europe, Asia Pacific, Latin America) - Industry Forecast 2024-2031


Report ID: UCMIG55E2013 | Region: Global | Published Date: Upcoming |
Pages: 165 | Tables: 55 | Figures: 60

Wind Turbine Gearbox Market Insights

Market Overview:

The wind turbine gearbox market globally was valued at USD 18.02 billion in 2020, and it is anticipated to reach USD 32.55 billion by 2028, growing at a CAGR of 7.7% during the 2021-2028 period, with an expected value of USD 19.33 billion in 2021. The COVID-19 pandemic had an unprecedented and staggering impact globally, but the wind turbine gearbox market saw a significant rise in demand worldwide during this period. Our analysis showed that this market had a positive growth rate of 22.9% in 2020 compared to the average year-on-year growth between 2017-2019. The sudden increase in CAGR can be attributed to the market's demand and growth returning to pre-pandemic levels after the pandemic ends.

Wind Turbine Gearbox Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.

Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.

The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Independent Power Producers & Energy Traders by segment aggregation, the contribution of the Independent Power Producers & Energy Traders in Diversified Utilities Services and vendor share.

To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.

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FAQs

The market for Wind Turbine Gearbox was estimated to be valued at US$ XX Mn in 2021.

The Wind Turbine Gearbox Market is estimated to grow at a CAGR of XX% by 2028.

The Wind Turbine Gearbox Market is segmented on the basis of Type, Application, Region.

Based on region, the Wind Turbine Gearbox Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

The key players operating in the Wind Turbine Gearbox Market are Siemens Gamesa Renewable Energy SA (Spain), General Electric Renewable Energy (France), Robert Bosch (Germany), Vestas (Denmark), Moventas Gear Oy (Finland), Ishibashi Manufacturing Co. Ltd. (Japan), Voith GmbH & Co. KGaA (Germany), Winergy Group (U.S.), Dana Brevini SpA (Italy), ZF Friedrichshafen AG (Germany), ME Production A/S (Denmark), Renk AG (Germany).

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Wind Turbine Gearbox Market

Report ID: UCMIG55E2013

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