Global Wind Turbine Gearbox Repair & Refurbishment Market - Analysis by Location - Growth Trends and Forecasts (2017 - 2022)

Published - Jan 2017 | Category - Energy and Power | No. of Pages - 134 | Published By - Mordor Intelligence

Report Highlights

The Global Wind Turbine Gearbox Repair Market is expected to grow from USD XX Billion in 2015, and reach USD XX Billion by 2022, growing at a CAGR of XX percentage.

As the demand for clean energy rises worldwide, the market for wind turbines has also seen a rapid increase. The majority of wind turbines that are in operation currently, and also being installed use a gearbox system. As the number of wind turbines rise around the world, the market for wind turbine servicing is also on the rise. A major component of the cost of repair and refurbishment of wind turbines are due to gearbox failures. Even though the number of gearbox failures that occur are much less than the number of failures of electrical units, control systems, sensors etc., the   cost of these repairs are significantly higher. The number of days out per failure are also much higher in case of a gearbox failure.

There is a growing demand globally for not just energy, but clean energy. This growing demand for clean energy is the prime motive that is driving power generation agencies and companies towards wind farms. This demand has therefore been the greatest boon to the wind turbine gearbox repair and refurbishment market as well. As wind farms are becoming more and more common, the cost of wind technology is also coming down, which is in turn making the technology affordable to more and more power generators. This cost factor coupled with support from governments has led to wind power being adopted more and more. Emerging markets also provide a huge stimulus to the demand for wind power. The wind turbine gearbox repair and refurbishment market is benefiting from this growth in the wind power industry. The growth of the direct drive turbine technology is the main restraining factor for this industry.

The wind turbine gearbox repair and refurbishment market can be segmented into offshore and onshore market depending on the location of turbine installations. Geographically, this report segments the market into North America, Europe, Asia-Pacific, South America and Middle East & Africa.

The market players in the gearbox repair and refurbishment sector is a mix of both gearbox manufacturers and independents. The independents are more flexible and provide faster response. The major players in the market include Brevini, Gamesa, Mekanord, Stork Gears & Services and Winergy among others. It is predicted that larger companies will become more dominant in the market as countries in Europe repower wind farms, and eliminate smaller turbines that are rated under 1 MW.

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