The global wind turbine bearing market is forecast to grow at a CAGR of 12.61% during the period 2016-2020.
According to the report, increase in rotor diameter will be a key driver for market growth. Unlike conventional power plants, wind energy generation is highly dependent on meteorological conditions, especially wind speed. The maximum energy that can be harnessed by a wind turbine is roughly proportionate to the swept area of the rotor.
Technological advances and blade design are the main factors leading to increase in wind turbine output and capacity. By just doubling the rotor size or diameter, the power output increases fourfold.
Further, the report states that during the forecast period, the turbines are expected to undergo more R&D, which will also be backed by the expected increase in offshore wind capacity.
However, this would pose a challenge for the wind turbine bearing market, especially for the cylindrical roller and spherical roller bearings that are the most commonly used type in gearbox applications. With technological advances and the rise in R&D expected to increase the demand for direct-drive turbines, their use will hinder the growth of the global wind turbine bearing market.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Dalian Metallurgical Bearing
- IMO Liebherr
- NTN Bearing
- Rothe Erde
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market drivers
PART 07: Market challenges
PART 08: Impact of drivers and challenges
PART 09: Market trends
PART 10: Market segmentation by product
PART 11: Market segmentation by application
PART 12: Geographical segmentation
PART 13: Vendor landscape
PART 14: Key vendor analysis
PART 15: Appendix
PART 16: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/dczbg5/global_wind
Research and Markets
Laura Wood, Senior Manager
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SOURCE Research and Markets