Dublin, May 16, 2024 (GLOBE NEWSWIRE) -- The "Global Wind Turbine Gearbox Repair and Refurbishment Market (2024 Edition): Analysis By Type (Repair, Refurbishment), By Service Type, By Location of Deployment, By Region, By Country: Market Insights and Forecast (2020-2030)" report has been added to ResearchAndMarkets.com's offering.
The Global Wind Turbine Gearbox Repair and Refurbishment market showcased growth at a CAGR of 3.85% during 2020-2023. The market was valued at USD 4.7 Billion in 2023 which is expected to reach USD 6.2 Billion in 2030.
This research report provides a complete analysis for the historical period of 2020-2023, the estimates of 2024 and the forecast period of 2025-2030.The report analyses the Wind Turbine Gearbox Repair and Refurbishment Market by Region (Americas, Europe, Asia Pacific, Middle East and Africa) and 10 Countries (United States, Canada, Brazil, United Kingdom, Germany, France, China, Japan, India and South Korea).
The world's transition to renewable energy is still happening quickly because of rapidly declining costs, advancing technology, and more favorable policy frameworks. An increased market exists for servicing, with gearbox repair and refurbishment accounting for a large portion of the annually increase in wind-turbine installations. As the flood of new demand comes out, the industry is ready to meet it.
Many types of faults can quickly arise during operation, leading to significant losses. When the wind turbine gearbox isn't operating as efficiently as it should, the owner and business could suffer significant financial losses. In addition, the complex mechanical construction and unique motion of wind turbine gearboxes have traditionally contributed to their high failure rate.
There is a greater demand for servicing and maintenance, of which gearbox repair and refurbishing make up a large portion, as wind turbine installations increase annually. Due to the large number of wind turbines that are now in operation that are getting closer to the end of their useful lives and require more frequent maintenance, the wind turbine repair market is growing.
Wind turbines are an expensive investment even if they are a renewable energy source. Therefore, it's critical to comprehend the expenses related to machine maintenance. Today, regular wind turbine servicing and maintenance is a significant global market that is growing with each new turbine that is put into service. The type of turbine, its age, the location of installation, and the quantity of wind energy generated are only a few of the considerations that affect how frequently a turbine needs maintenance.
More regular maintenance is needed for some wind turbine than for others. For instance, compared to vertical axis wind turbines (VAWTs), horizontal axis wind turbines (HAWTs) typically require more maintenance. Every turbine using a conventional gearbox drivetrain technology may be eligible for a significant gearbox overhaul a few years later.
The gearbox ought to endure extremely high cycle loads for 20 to 25 years. When powering up, torque is typically high and can be quite high during emergency shutdowns. A high degree of malfunction in the gear box can become a major issue, causing extended production stoppages and necessitating the use of a tool to disassemble the damaged and defective component and replace it with a repaired or refurbished one.
The decision between refurbishing and restructuring ultimately comes down to a number of parameters, including the goals of the project, the available funds, the state of the new site, and any applicable regulations. In order to make well-informed decisions that optimize energy output and guarantee long-term reliability, stakeholders and engineers must carefully consider these issues.
Preventive and predictive maintenance is used by wind turbine operators to maintain the machinery's optimal performance and warranty compliance. Large wind farm OEMs and gearbox service providers are focusing on the locations with the highest concentration of wind farms. Therefore, the OEMs continue to underserve areas with a low concentration of wind turbines. This offers determined independent service providers a chance to carve out a niche and focus on servicing gearboxes in ignored locations.
The gearbox systems are among the most essential components of equipment in terms of wind energy technology advancements. The manufacturers of gearboxes can now select bearings designed for different operating circumstances and create gearboxes with fewer crucial components as a result of recent technical advancements. These developments have made gearbox reliability better under a range of operating conditions. It is expected that the reduced need for gearbox maintenance and refurbishing services will come from the increased reliability.
Scope of the Report
- The report analyses the Wind Turbine Gearbox Repair and Refurbishment Market by Value (USD Million).
- The report analyses the Wind Turbine Gearbox Repair and Refurbishment Market by Region (Americas, Europe, Asia Pacific, Middle East and Africa) and 10 Countries (United States, Canada, Brazil, United Kingdom, Germany, France, China, Japan, India and South Korea).
- The report presents the analysis of Wind Turbine Gearbox Repair and Refurbishment Market for the historical period of 2020-2023, the estimated year 2024 and the forecast period of 2025-2030.
- The report analyses the Wind Turbine Gearbox Repair and Refurbishment Market By Type (Repair, Refurbishment).
- The report analyses the Wind Turbine Gearbox Repair and Refurbishment Market By Service Type (Bearing, Gear, Shaft, Other Faults).
- The report analyses the Wind Turbine Gearbox Repair and Refurbishment Market By Location of Deployment (Onshore, Offshore).
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by type, by service type and by location of deployment.
- Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development.
Analyst Recommendations
- Strategic Partnerships and Collaborations
- Expansion of Service Offerings
Competitive Positioning
- Companies' Product Positioning
- Market Position Matrix
- Market Share Analysis of Global Wind Turbine Gearbox Repair and Refurbishment Market
Company Profiles
- Siemens Gamesa Renewable Energy SA
- ZF Friedrichshafen AG
- Stork Gears & Services BV
- Winergy AG
- Grenaa Motorfabrik A/S
- Dana Brevini SPA
- Enercon GmbH
- Turbine Repair Solutions
- H&N Wind Power System by Timken
- ME Production A/S
For more information about this report visit https://www.researchandmarkets.com/r/5mn8ku
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