Wind Turbine Gearbox Market to hit USD 8,630 Million by 2025
Market Research Future (MRFR), in its latest wind turbine gearbox market 2020 report, reveals several
factors that can impel the expansion of the market. As per MRFR study, the wind turbine gearbox
market is poised to reach a value of USD 8,630 Mn by 2025. The rise in the awareness of renewable
sources and the high rate of depletion of fossil fuels are factors that are expected to boost rise of the
wind turbine gearbox market. The energy and power industry, especially the wind segment holds
lucrative opportunities for the market. The ability of turbine gearboxes to effectively handle the
increase in the rotational power of blades can boost the expansion of the turbine gearbox market
across the review period.
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The reduction price of wind power generation owing to the robust investments made in the energy
sector can generate significant revenue in the years to come. The need for culminate wind turbines
installations can improve the developing economies. Changes in energy policies by different nations
to improve sustainability, plus the increase in research and development efforts can prompt the
expansion of the world wind turbine market. The high demand for the production of electricity, along
with, the generation of designs of wind power turbines to increase the capacity of wind turbine can
prompt the expansion of the market in the years to come.
The type based segments are yaw gearbox, main gearbox, and others. The main gearbox segment can
rise at 6.44% CAGR across the forecast period. The yaw gearbox segment can rise at 6.57% CAGR in
the review period.
The application based segments of the market are onshore and offshore wind power. The onshore
segment can secure 92% market share and rise at 6.42% CAGR to value at USD 7,897.4 million by 2025.
The offshore segment can value at USD 732.6 Mn by 2025.