Research Nester released a report titled “Europe Wind Turbine Gearbox Repair and Refurbishment Market: Regional Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the Europe Wind Turbine Gearbox Repair and Refurbishment Market in terms of market segmentation by product, gearbox failure, deployment and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Gearbox are components that are used in wind turbines, in which the power that is obtained from the rotation of wind turbine rotor gets shifted to the generator through the main shaft and gearbox and high-speed shaft. The gearbox is used mainly for raising the revolutions per minute (RPM), as blades are slow during the time of rotation. The main shaft is connected to the blades and the secondary shaft connects with the rotor in the generator. The gearbox is used between these two shafts to reach the required rotational speed, so that it is able to touch the desired rotational speed by which power can be generated at the frequency demanded by the grid. The Europe Wind Turbine Gearbox Repair and Refurbishment market is projected to witness significant growth in its CAGR over the forecast period (2020-2027).
The market is segmented by product, gearbox failure, deployment and by region. The market is segmented into main gearbox and yaw and pitch gearbox on the basis of product. Main Gearbox held the highest market share in the year 2018 and is also predicted to hold the highest market share over the forecast period, owing to factors such as its ability to maintain the rotational speed of the turbine as well as generator speed for optimization and power limitation. On the basis of gearbox failure, planetary stage bearing that held the largest market share in 2018 is estimated to witness tremendous growth over the next decade.
The Europe wind turbine gearbox repair and refurbishment market is projected to register significant revenues over the forecast period, mainly on account of high demand for clean and renewable energy which is driving the power generation companies all over the Europe to undertake installation of wind farms. Moreover, the costs of wind technology have been reducing significantly over the past decade, with arrival of more wind farms in various parts of the region that is helping power generation companies to obtain access to this technology at affordable costs. Further, the technology costs that have been decreasing over the last few years apart from the efforts taken up by various governments in the region to provide support to the industry are predicted to boost the growth of the market in the coming decade.
Rising Demand for Energy and Power Across the Globe
The demand for energy has been on the rise in the region in the last few years, with greater concentration of efforts towards renewable forms of energy such as wind energy, solar energy and others. The rise in the number of windmills that have been set up in the region is anticipated to increase the demand for repair of gearboxes that would be subject to many changes in and could also lead to failures in few cases. This would require timely action to be initiated to rectify these failures at once, so that the chances of productivity of the generator facing a collapse can be restricted to a greater extent. Further, green energy has been introduced in many regions of the world, especially in Europe that is estimated to bring in several opportunities for growth of the green market that will bring opportunities in the area of repair and refurbishment of windmills. In 2018, the capacity of wind power which has been installed in Europe had been higher than that of other energy sources. These are some of the factors that are estimated to drive the growth prospects for the market over the next decade. However, the market is faced with a few limitations such as the gearboxes that are being used in wind turbines could be subject to many difficulties at the time of operation. Primarily, there are chances of several changes that could occur at regular intervals during the period of handling power. These fluctuations in power could lead to changes in load that can affect the performances of gearboxes adversely. Hence, the company would be required to immediately take up repair and refurbishment, in order for the turbines to improve their power generation efficiency within a shorter period. Additionally, solar energy and a few others have come up as alternative sources to wind energy that could lower the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the Europe wind turbine gearbox repair and refurbishment market, which includes company profiling of Dana Vindkraft, Siemens Gamesa Renewable Energy S.A., ME Production A/S, Stork-FDO Wind Energy Systems B.V., Winergy Group, ZF Friedrichshafen AG, Turbine Repair Solutions, Grenaa Motorfabrik A/S and Enercon GmbH. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Europe wind turbine gearbox repair and refurbishment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.