Wind Turbine Gearbox Repair And Refurbishment Market Size, Share & Industry Analysis, By Type (Repair, Refurbishment), By Gearbox Failure Type (Bearings, Others), By Application (Onshore, Offshore) And Regional Forecast, 2024-2032

A significant rise in the use of wind turbines in the last decade to combat the depleting fossil fuels has led to the aging of wind turbines. Wind energy is being looked upon as the most feasible investment which results in a high amount of power being generated at a low per unit. Wind energy now being harnessed at onshore and offshore locations has made the maintenance of wind turbines of even more importance. The maintenance and timely check of the wind power system ensures proper functioning of the wind turbine and also avoids any financial losses at a big scale. The wind turbine gearbox, being a key component of the wind turbine, has hence, led to its need of being repaired and refurbished, especially in turbines with harsh operating conditions.

Based on the type, the market is classified into repair and refurbishment. The repair segment accounted for the major share of the market and it is anticipated that it will maintain its attractiveness during the forecast period, as it includes maintenance repairs and small-scale repairs. Also, many of the players operating in the wind turbine industry generally rely on the concept of predictive maintenance.

Based on the gearbox failure type, the global market is classified into bearings and others. The bearings segment accounted for the major share in the market, as bearings are the most damaged parts during operations. Bearing form, the heat of the movement of wind blades as power generated by the turbine is transmitted to the blades with help of bearings.

Based on the application, the market is classified into onshore and offshore. The onshore segment accounted for the major share of the market and it is anticipated that it will maintain its attractiveness during the forecast period, owing to the high scale onshore wind turbine installations. In recent years, the offshore wind industry has also gained pace which will also drive the market for wind turbine gearbox repair and refurbishment.

The main driver for the global wind turbine gearbox repair and refurbishment market is the increasing penetration of wind energy in the power mix of every country around the world. Every country is focusing on renewable energy and has also set targets to be achieved in coming years which will drive investment for wind turbines and therefore their repair and refurbishment. Also, owing to growing urbanization and industrialization, there is a surge in the requirement of electric power all over the world, which has led to a growth in the power generation sector.

The key market restraint for the market is the increasing preference given to solar power over wind power.  Solar power requires less capital and can be installed at residential locations but wind power requires a large area along with all other requirements such as transmission and station which increase the cost. These factors can hinder the growth of the wind turbine gearbox repair and refurbishment market.

Key Market Driver -

Growing penetration of wind energy in power mix across all countries

Key Market Restraint -

Strong competition from solar industry market

Key Players Covered:

Some of the major companies in the wind turbine gearbox repair and refurbishment market are Siemens Gamesa, Dana Industrial, ME Productions, Stork, a Fluor company, NGC Group, Flender, ZF Group, Turbine Repair Svc, A/S Grenaa Motorfabrik, Enercon GmbH, Winergy, Connected Wind Services and H & N Electric, and Power Systems by Timken.

Regional Analysis:

The global wind turbine gearbox repair and refurbishment market are studied across different regions like North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe accounted for a major share of the global market, due to the high investment in the renewable energy sector and particularly for wind energy in the region. Asia-Pacific is the fastest-growing region for the global wind turbine gearbox repair and refurbishment market, owing to the increased investments in the renewable energy sector in developing nations such as India and China. The markets of North America are likely to grow steadily due to the rising focus on the development of the renewable energy sector and especially on wind energy in the US and Canada.

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Segmentation

Key Industry Developments

• On Dec 02, 2020, Enercon GmbH introduced an E-nacelle, which aims at moving the entire electrical system up-tower inside the nacelle. The E-nacelle is first of its kind and marks a leap in technological advancement.


• On October 21, 2020, NGC Group introduced a new R&D project, which aims at developing lightweight high-linear-velocity lightweight gear transmission systems for wind turbines.