Mar 25, 2020   SOURCE: BusinessWire

Europe Wind Turbine Gearbox Repair & Refurbishment Market Expected to Grow with a CAGR of 8.17%, 2020-2027 - ResearchAndMarkets.com

The "Europe Wind Turbine Gearbox Repair & Refurbishment Market Outlook & Projections, 2019-2027" report has been added to ResearchAndMarkets.com's offering.

Europe Wind Turbine Gearbox Repair & Refurbishment Market Analysis - 2018-2027

The Europe wind turbine gearbox repair and refurbishment market was valued at USD 3876.34 million in the year 2018 and is anticipated to grow at a CAGR of 8.17% over the forecast period i.e. 2020-2027.

Gearboxes present in wind turbines are components that are mainly utilized in wind turbines, so that the power that is acquired in the process of rotation of wind turbine rotor can be shifted to the generator through the main shaft, gear box as well as high-speed shaft. The increase in revolutions per minute (RPM) happens as a result of using gearbox, with blades moving slowly at the time of rotation. A rotational speed that is considered to be favourable is arrived at, by using gearbox in between two shafts which would be able to generate power at the frequency demanded by grid. Factors such as reduction in the costs of wind technology over the past few years which have aided the growth in establishment of wind farms across the region which are helping the companies that are engaged in generation of power to avail access to such technology at concessional rates, increased demand for clean and renewable energy in the region and government support obtained by industry for setting up wind farms which are anticipated to drive the growth of the market over the next decade. According to the statistics by Wind Europe, new offshore wind investments in Europe in the year 2016, 2017 and 2018 was USD 19.85 bn, USD 7.89 bn and USD 12.34 bn respectively.

The market is segmented on the basis of product into main gearbox and yaw and pitch gearbox. The main gearbox falling under product segment is projected to reach USD 4918 million by 2027 at a CAGR of around 8% over the forecast period. Some of the factors that are estimated to contribute to the growth of the market are its features that help to maintain turbine rotational speed as well as the speed of generator for optimization and power limitation. A new gearbox had been introduced into the market by Brevini Wind for a wind turbine range that starts from 0.9 MW to 3.5 MW. The lower cost of maintenance, apart from the solutions offered by Brevini's gearbox that is 75% lower than the previous solutions. The gearbox failure is segmented into planetary stage bearing, intermediate stage bearing and high-speed stage bearing. The planetary stage bearing is estimated to register a market value of around USD 4100 million by 2027 by growing at a CAGR of 8.53% during the forecast period, owing to the planetary gearboxes having the capability to survive harsh loading. Moreover, another factor being the capacity of planetary gear damage to affect the gearbox life in wind turbines is anticipated to raise the demand for planetary stage bearing over the forecast period.

The Europe wind turbine gearbox repair and refurbishment market is projected to grow significantly, owing to demand for energy and power across the region growing at a rapid rate over the last decade and the importance of protecting environment becoming a major factor in the region, that has driven several nations across the region to adopt renewable energy sources such as wind power and few others. The growing number of windmills being set up across the region is predicted to drive the demand for gearbox. Gearbox would be subject to many variations and may even fail during the time of operation. This would require steps to be taken quickly to set right the failure, which could even lower the productivity of the generator in the absence of an immediate remedy. Moreover, green energy has been growing in the region which is predicted to improve the growth opportunities in the green market that is expected to make available several opportunities for growth of the repair and refurbishment of wind mills. In 2018, the wind mills power capacity that had been installed in Europe was higher as compared to other sources of power generated in the region. Apart from that, wind power had contributed close to 48% of total power capacity that has been installed in the region. All these factors are predicted to drive the growth of the market in the coming years.

Key Topics Covered:

Europe Wind Turbine Gearbox Repair And Refurbishment Market

1. Introduction

1.1. Market Definition

1.2. Market Segmentation

1.3. Product Overview

2. Assumptions And Abbreviations

3. Research Methodology

3.1. Research Objective

3.2. Secondary & Primary Research

4. Executive Summary - Europe Wind Turbine Gearbox Repair And Refurbishment Market

5. Industry Value Chain Analysis

6. Wind Turbine Gearbox Inspection Outlook

6.1. Inspection Methods

6.2. Inspection Standards

7. Regulatory Landscape

7.1. Renewable Obligation Certificate

8. Analysis Of Market Dynamics

8.1. Growth Drivers

8.2. Key Trends

9. Key Market Opportunities

10. Major Roadblocks For The Market Growth

11. Demand-Supply Outlook

11.1. Demand Risk Analysis

11.2. Supply Risk Analysis

12. Europe Wind Turbine Gearbox Repair And Refurbishment Market Outlook

12.1. Market Size And Forecast, 2018-2027

12.2. Europe Wind Turbine Gearbox Repair And Refurbishment Market Segmentation, 2018-2027

Companies Mentioned

  • Dana Ltd.
  • Siemens
  • ME Production
  • Stork
  • Winergy Group
  • ZF Friedrichshafen AG
  • Turbine Repair Solution
  • Grenna Motorfabrik
  • Enercon Gmbh

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