Wind Turbine Gearbox Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The wind turbine gearbox market is expected to grow at a CAGR of more than 5.6% over the forecast period of 2022-2027. With the COVID-19 outbreak in 2020, the growth of the wind turbine gearbox market was moderately impacted by delays in manufacturing and supplying wind turbine gearboxes, wind projects, and other challenges for major players' value chains. Factors such as the declining cost of wind energy and increasing investments in wind power projects are the key drivers for this market. However, gaining interest in direct-drive turbines is expected to restrain the gearbox market during the forecast period.
Key HighlightsThe wind turbine gearbox market is moderately consolidated. Some of the major companies include Siemens Gamesa Renewable Energy SA, Dana Brevini SpA, ME Production A/S, Winergy Group, and ZF Friedrichshafen AG, among others.
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