Thursday 12 February 2015, Amsterdam
The new report recognizes the following companies as the key players in Global Wind Turbine Gearbox Market: China High Speed Transmission Equipment Group Co., Ltd, Gamesa Corporacion Tecnologica, GE Energy Co., Suzlon Energy Ltd, Winergy AG, ZF Friedrichshafen AG, Bosch Rexroth AG, Moventas Oy, ZOLLERN GmbH & Co. KG.
Commenting on the report, an analyst from the reports team said: “Several countries worldwide are investing heavily in renewable technologies to reduce their dependency on fossil fuels and establish energy security for the country. Wind energy is one of the most abundant sources of renewable energy that can be used for power generation. The Wind industry is also attracting many investors because of its high growth potential and high rate of returns when compared to other renewable technologies. Moreover, government support and technological advancements are attracting many investors to invest in wind energy, increasing the market for wind turbine gearboxes over the next few years.”
According to the report, the market is benefitting from increased government support for wind energy projects. As compared to the early stages of development of the Wind Energy industry in 1991, government support in recent years has increased significantly in terms of policies, incentives, and subsidies. This is one of the major driving factors of the Global Wind Turbine Gearbox market.
Further, the report states that the high failure rate of wind gearboxes because of frequent and high fluctuations in wind patterns poses a significant threat to market vendors. The failure of gearboxes will significantly increase downtime and costs for vendors.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.