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Wind Gearbox and Direct-Drive, Update 2018
Global Market Size, Competitive Landscape and Key Country Analysis to 2022
Published: Dec 2018
Single User Price: $3,995
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APAC will lead global wind gearbox and direct drive equipment markets over next four years
Asia-Pacific
(APAC) is expected to lead the global wind gearbox and direct drive
equipment markets with a share of 46% and 53.5%, respectively over the
forecast period (2018–2022), says GlobalData, a leading data and analytics company.
GlobalData’s latest report, ‘Wind Gearbox and Direct Drive, Update 2018’,
reveals that the global trends of wind power are creating business
opportunities for new and refurbishment markets. It states that
prominent markets such as China, the US and EU, which had made
significant strides in the wind market, are creating a significant
market for gearbox refurbishments.
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Nirushan Rajasekaram, Power Analyst at GlobalData, says: “Within
APAC, major countries such as China, India, Australia and South Korea
are likely to boost the growth of the drive-train markets. The market
for wind gearboxes in APAC is expected to reach to $1.58bn in
2022.”
Rajasekaram adds: “The
historical installations of wind turbines in China will see the gearbox
refurbishment market value grow significantly over the forecast period.
India is estimated to be the fastest growing market for gearbox,
growing at a CAGR of 15.9% over the forecast period. Similar to China,
the government proposed ambitious renewable energy targets, which are
expected to drive the wind equipment market. It is likely that direct
drives will also see higher rates of deployment in India, during the
forecast period.”
Rajasekaram concludes: “Evolving
power and smart technologies could result in wind power becoming
uncompetitive and thereby impact its growth in the future. Emerging
markets will require the construction of sufficient grid infrastructure
to support new generation capacity addition, which could slow market
deployment of wind power.”
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