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    Wind Energy Bearings Market Report

    Wind Energy Bearings Market Report
    Report code - SRAM737 Published On : Jul,2021 No. of Pages: 200
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    Wind Energy Bearings Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth See more...

    Impact of COVID-19 on Wind Energy Bearings Market

    Covid-19 has impacted the market dynamics, competition, and global...

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    Impact of COVID-19 on Wind Energy Bearings Market

    Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.

    Note: The summary below might not have included insights on covid impact since we have large number of reports.

    Market Highlights

    Rising concerns towards rapidly growing energy demand and depleting natural resources, such as fossil fuels, natural gas, coal, and wood, have led to exploring areas of renewable sources such as wind energy. In the past few decades, wind energy has gained significant traction among the key economies to reduce their dependency on non-renewable sources of energy.

    The surge in investments towards expanding wind farm infrastructure has boosted the demand for components and parts used in wind turbines such as generators, gearboxes, nacelles, towers, and blades. In order to have a smooth operation of wind turbines, small components including bearings play a vital role. Bearings are designed to withstand extreme temperatures, load fluctuations, maintenance access, and lubricant optimization. The increasing length of wind blades and the growing popularity of offshore wind farms demand bearings that can deliver both performance and durability.

    In 2020, the global wind energy bearings market was estimated at US$ 1.5 billion and is expected to expand at a healthy CAGR of 7.1% during the forecast period. The wind energy bearings market is mainly driven by factors such as increasing installations of wind turbines, increasing wind turbine fleet (the aftermarket level), and growing need for reliable and efficient components with the rise in the average length of wind turbine blades and turbines. The major factor that directly impacts the bearings market for wind energy is the investment from the key economies as it requires huge capital to install a wind farm. In recent years, emerging economies, such as India, Brazil, and South Africa, have shown keen interest in wind energy to reduce their dependency on non-renewable sources.

    Market Segments' Analysis

    The wind energy bearings market is segmented as Platform Type, Bearing Type, Material Type, Application Type, End-User Type, and Region. Based on the bearing type, Roller bearing is expected to remain the largest and the fastest-growing bearing type in the market during the forecast period. Roller bearings are extensively used in applications, such as gearbox, main shafts, and generators, owing to their capability to handle high radial & thrust loads and tilt movements.

    Based on the material type, the market is segmented as metallic bearings, non-metallic bearings, and hybrid bearings. Metallic bearing holds the mammoth lead in the market. Metallic bearings perform well when they come to extreme momentary overloads. In the event of a problem of alignment or lubrication, metal-bearing can compensate with greater ease than other types of bearings.

    Based on the application type, the wind energy bearing market is segmented as Gearbox, Main shaft, Electric Generator, and Others. Among these, the gear box has a major use of bearings. Gearbox’s reliability has improved remarkably in the past years due to the better understanding of bearing loads.

    In terms of regions, Asia Pacific is expected to remain the largest market for wind energy bearings during the forecast period.  The wind energy bearings market in the Asia Pacific region is expected to grow significantly during the forecast period, owing to favorable policies and growing investments towards wind farms in both offshore and onshore platforms. China, is the world’s largest wind power market, is driving the growth.  In 2020, as per the report from GWEC, China installed over 52 GW of new capacity which is more than half of the global wind power capacity installed in the year.  India, South Korea, Taiwan, Japan, and Vietnam are the other key markets in the region. 

    North America and Europe also hold key positions in the market, driven by increasing investment towards the clean source of energy, favorable policies, and the presence of key players across the supply chain such as Timken, SKF, Schaeffler Group, Siemens Gamesa, Vestas, and GE.

     

    Key Players

    With the presence of established international and regional players, the global wind energy bearing market is highly consolidated but remains competitive. The main players on the market for wind energy bearings are:

    • Iljin
    • JTEKT Corporation
    • LYC Bearings
    • NSK Ltd.
    • NTN Corporation
    • Schaeffler Group
    • SKF
    • The Timken Company
    • TMB Group
    • ZWZ Group

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s Wind Energy Bearings market realities and future market possibilities for the forecast period of 2021 to 2026. After a continuous interest in our automotive bearings market report from the industry stakeholders, we have tried to further accentuate our research scope to the Wind Energy Bearings market in order to provide the most crystal-clear picture of the market. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Market structure: Overview, industry life cycle analysis, supply chain analysis.
    • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
    • Market trend and forecast analysis.
    • Market segment trend and forecast.
    • Competitive landscape and dynamics: Market share, Product portfolio, New Product Launches, etc.
    • Attractive market segments and associated growth opportunities.
    • Emerging trends.
    • Strategic growth opportunities for the existing and new players.
    • Key success factors.

     

    The wind energy bearings market is segmented into the following categories. 

    Wind Energy Bearings Market, by Platform Type

    • Onshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW) 
    • Offshore (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Wind Energy Bearings Market, by Bearing Type

    • Ball Bearing
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Type Analysis: Deep Groove Ball Bearing, Angular Contact Ball Bearing, and Others)
    • Roller Bearing     
      • (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
      • (Type Analysis: Cylindrical Roller, Tapered Roller Bearing, and Spherical Roller Bearing)
    • Slewing Bearing (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Wind Energy Bearings Market, by Material Type

    • Metallic Bearings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Non-Metallic Bearings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Hybrid Bearings (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Wind Energy Bearings Market, by Application Type

    • Gear Box (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Main Shaft (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Electric Generator (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Others (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Wind Energy Bearings Market, by End-User Type

    • OE (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)
    • Aftermarket (Regional Analysis: North America, Europe, Asia-Pacific, and RoW)

    Wind Energy Bearings Market, by Region

    • North America (Country Analysis: The USA, Canada, and Mexico)
    • Europe (Country Analysis: Germany, France, the UK, Turkey, and Rest of Europe)
    • Asia-Pacific (Country Analysis: China, India, Australia, and Rest of Asia-Pacific)
    • Rest of the World (Country Analysis: Brazil, Saudi Arabia, Argentina, and Others)
     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected]

    Frequently Asked Questions (FAQs)

    The wind energy bearings market is estimated to grow at a healthy CAGR of 7.0% by 2026.

    Iljin, JTEKT, LYC Bearings, NSK, NTN, Schaeffler, SKF, Timken, TMB, and ZWZ are the leading players in the Wind Energy Bearings market.

    Asia-Pacific is estimated to remain dominant in the Wind Energy Bearings market in the foreseen future.

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