Wind Turbine Gearbox Repair and Refurbishment Market Size (2024 - 2029)

The wind turbine gearbox repair and refurbishment market is anticipated to experience growth driven by the increasing demand for maintenance services due to the rising number of aging wind turbines. Despite potential restraints from improved gearbox designs and the adoption of direct drive turbines, the need for repair services remains high, particularly for turbines operating in harsher conditions. This demand is further supported by the maintenance needs of idle wind turbines in regions like China, where over-production issues have led to reduced operational capacity. The Asia-Pacific region, especially China and India, has been a significant contributor to the market's expansion.

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Market Size of Wind Turbine Gearbox Repair and Refurbishment Industry

wind turbine gearbox repair refurbishment market
Study Period 2020 - 2029
Base Year For Estimation 2023
CAGR 3.53 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration High

Major Players

wind turbine refurbishment

*Disclaimer: Major Players sorted in no particular order

Wind Turbine Gearbox Repair & Refurbishment Market Analysis

The global wind turbine gearbox repair and refurbishment market is expected to grow at a CAGR of approximately 3.53% during the forecast period of 2020- 2025. With rising number of aging wind turbines, the demand for the gearbox repair and refurbishment services is expected to drive the market. However, the improving design of gearbox and increasing use of the direct drive turbines are expected to restrain the gearbox repair and refurbishment market during the forecast period.

  • With the increasing installation of wind turbines across harsher conditions, the demand for gearbox repair, which ranks amongst the highest in terms of average repair time and average costs required amongst all component type, is expected to witness increased demand, to maintain operational efficiency
  • China's power industry is facing problems related to over-production caused by rapid addition of power generation capacity, which is putting an extra load on the national grid. As a result, most of the wind farms in China are forced to produce less than the capacity and some of the wind farms are even forced to remain idle. Owing to remaining idle, wind turbines haven't been inspected regularly and hence, are expected to require significant maintenance services, including gearbox maintenance, to restart the production, which in turn, is expected to drive the market.
  • Asia-Pacific dominated the market across the globe in 2018, with majority of the demand coming from China and India.

Wind Turbine Gearbox Repair & Refurbishment Industry Segmentation

The wind turbine gearbox repair and refurbishment market include:

Type
Repair
Refurbishment
Gearbox Failure Type
Bearings
Others
Deployment
Onshore
Offshore
Geography
Asia-Pacific
North America
Europe
Rest of the World
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Wind Turbine Gearbox Repair and Refurbishment Market Size Summary

The wind turbine gearbox repair and refurbishment market is poised for growth, driven by the increasing number of aging wind turbines that necessitate maintenance services to ensure operational efficiency. Despite advancements in gearbox design and the rising adoption of direct drive turbines, the demand for repair and refurbishment services remains robust. This is particularly true as wind turbines are installed in more challenging environments, where gearboxes are critical components prone to complications. The market is further bolstered by the need for maintenance in regions like China, where wind farms face production challenges due to over-capacity and idle turbines requiring significant upkeep to resume operations.

Asia-Pacific emerges as a dominant region in the wind turbine gearbox repair and refurbishment market, with substantial demand from China and India. The region's growth is supported by favorable government policies and the expansion of wind power infrastructure. As the installed base of wind turbines grows, particularly offshore, the demand for gearbox repairs is expected to increase, driven by the need to maintain the profitability and efficiency of wind power projects. The market is characterized by fragmentation, with key players such as Dana Brevini SpA, Siemens Gamesa Renewable Energy SA, ME Production A/S, Stork Gears & Services BV, and Winergy Group playing significant roles in shaping the competitive landscape.

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Wind Turbine Gearbox Repair and Refurbishment Market Size - Table of Contents

  1. 1. MARKET OVERVIEW

    1. 1.1 Introduction

    2. 1.2 Market Size and Demand Forecast in USD million, till 2025

    3. 1.3 Installed Wind Power Capacity and Forecast in GW, till 2025

    4. 1.4 Recent Trends and Developments

    5. 1.5 Government Policies and Regulations

    6. 1.6 Market Dynamics

      1. 1.6.1 Drivers

      2. 1.6.2 Restraints

    7. 1.7 Supply Chain Analysis

    8. 1.8 Porter's Five Forces Analysis

      1. 1.8.1 Bargaining Power of Suppliers

      2. 1.8.2 Bargaining Power of Consumers

      3. 1.8.3 Threat of New Entrants

      4. 1.8.4 Threat of Substitutes Products and Services

      5. 1.8.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 Type

      1. 2.1.1 Repair

      2. 2.1.2 Refurbishment

    2. 2.2 Gearbox Failure Type

      1. 2.2.1 Bearings

      2. 2.2.2 Others

    3. 2.3 Deployment

      1. 2.3.1 Onshore

      2. 2.3.2 Offshore

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

      2. 2.4.2 North America

      3. 2.4.3 Europe

      4. 2.4.4 Rest of the World

Wind Turbine Gearbox Repair and Refurbishment Market Size FAQs

The Wind Turbine Gearbox Repair and Refurbishment Market is projected to register a CAGR of greater than 3.53% during the forecast period (2024-2029)

Dana Brevini SpA, Siemens Gamesa Renewable Energy SA, ME Production A/S, Stork Gears & Services BV and Winergy Group are the major companies operating in the Wind Turbine Gearbox Repair and Refurbishment Market.

Wind Turbine Gearbox Repair and Refurbishment Market Report Snapshots

Wind Turbine Gearbox Repair and Refurbishment Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)