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Wind Turbine Gearbox Repair and Refurbishment Market to Grow Abundantly; Growing Penetration of Wind Energy in Power Mix Across all Countries to Fuel Market Growth: Says Fortune Business Insights

Written by Customer Service on . Posted in Mergers And Acquisitions.

Companies Profiled in Wind Turbine Gearbox Repair and Refurbishment Market are Siemens Gamesa, Dana Industrial, ME Productions, Stork, a Fluor company, NGC Group, Flender, ZF Group, Turbine Repair Svc, A/S Grenaa Motorfabrik, Enercon GmbH, Winergy, Connected Wind Services and H & N Electric, Power Systems by Timken

Pune, India, March 02, 2022 (GLOBE NEWSWIRE) — The wind turbine gearbox repair and refurbishment market size are anticipated to expand due to the growing penetration of wind energy and increasing industrialization in several countries. Fortune Business InsightsTM has presented this information in its upcoming report titled, “Wind Turbine Gearbox Repair and Refurbishment Market, 2022-2029”. Wind turbines have been aging as a result of a large increase in their use in the previous decade to battle the depletion of fossil fuels. Wind energy is seen as the most feasible investment because it produces a large amount of power at a low cost per unit. Wind energy is now being captured both onshore and offshore, making wind turbine maintenance even more important.

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Leading Players in the Market:

  • Siemens Gamesa
  • Dana Industrial
  • ME Productions
  • Stork
  • a Fluor company
  • NGC Group
  • Flender
  • ZF Group
  • Turbine Repair Svc
  • A/S Grenaa Motorfabrik
  • Enercon GmbH
  • Winergy
  • Connected Wind Services and H & N Electric
  • Power Systems by Timken

COVID-19 Impact –

The wind turbine gearbox repair and refurbishment industry was hampered due to the COVID-19 outbreak. The pandemic has disrupted the market’s supply of raw materials and labor. Due to a labor shortage, ongoing renewable initiatives have come to a halt, while future projects have been postponed. The majority of manufacturers are concentrating on implementing innovative tactics to alter their business models.

To get to know more about the short-term and long-term impact of COVID-19 on this market,

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Competitive Landscape –  

Key Players to Focus on New Product Launches

Prominent players are focusing on strategic partnerships and new product launches to offer advanced solutions that help them sustain longer in the market. For instance, in December 2020, the E-nacelle, developed by Enercon GmbH, proposes to move the whole electrical system up-tower into the nacelle. The E-nacelle is the first of its type and represents a significant leap forward in technology.

Industry Developments

October 2020: NGC Group announced a new research and development project aimed at generating high-linear-velocity lightweight gear transmission systems for wind turbines.

Drivers & Restraints –

Constant Increasing Penetration of Wind Energy to Augment Market Growth

The increasing penetration of wind energy in every country’s power mix is the key driver for the global wind turbine gearbox repair and refurbishment industry. Every country is focusing on renewable energy and has set goals for the incoming years, which will drive investment in wind turbines and, as a result, wind turbine repair and refurbishment. In addition, as the world becomes more urbanized and industrialized, there is an increase in the demand for electric power, which has resulted in an increase in the power generation industry. However, severe competition from the solar industry may impede the wind turbine gearbox repair and refurbishment market growth.

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Report Coverage –

The report covers information on the wind turbine gearbox repair and refurbishment industry. It includes information on the industry’s geographical growth, limiting and driving forces, growth possibilities, and key competitors’ strategies for staying in the market for a longer period. Furthermore, the research includes data on the cumulative COVID-19 market impact to provide key participants with a clear picture for future reference in order to make better business decisions.

Segmentation –

On the basis of type, the wind turbine gearbox repair and refurbishment market are bifurcated into refurbishment and repair. On the basis of gearbox failure type, split into bearings and others. On the basis of application, the market is divided into offshore and onshore. Geographically, the market is classified into Europe, North America, Latin America, Asia Pacific, and the Middle East & Africa.

Regional Insights –

Europe to Account for the Largest Global Market Share

Europe accounted for a large portion of the global wind turbine gearbox repair and refurbishment market share due to substantial investment in the renewable energy sector, notably wind energy. Asia-Pacific is the fastest-growing area owing to increased expenditures in the renewable energy sector in developing countries such as China and India. Furthermore, due to the increased focus on the growth of the renewable energy industry, particularly wind energy, in the U.S. and Canada, the market in North America is expected to rise gradually.

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Have a Look at Related Research Insights:

Inspection, Repair, and Maintenance Market Size, Share & COVID-19 Impact Analysis, By Service Type (Inspection {Visual Inspection, Ultrasonic, Electromagnetic, Radiography, Pigging, Others}, Maintenance {Reactive Maintenance, Preventive Maintenance, Predictive Maintenance, Reliability Centered Maintenance}, Repair), By Type, By Location, By Application (Oil & Gas {Upstream, Midstream, Downstream}, Renewable {Solar, Wind, Hydro}, Power Generation, Manufacturing, Infrastructure, Marine, Aerospace & Defense, Automotive, Others) and Regional Forecasts, 2021-2028

Smart Transformer Market Size, Share & COVID-19 Impact Analysis, By Type (Power, Distribution, Specialty, and Instrument), By Application (Smart Grid, Traction Locomotive, Electric Vehicle Infrastructure, and Others), and Regional Forecast, 2021-2028

Airborne Wind Turbine Market Size, Share & Industry Analysis, By Turbine Power (Small Turbine, Large Turbine), By Application (Offshore, Onshore) And Regional Forecast 2022-2029

Small Wind Turbine Market Size, Share & Industry Analysis, By Type (Horizontal Axis Wind Turbine, Vertical Axis Wind Turbine), By Installation type (On-Grid, Off-Grid) And Regional Forecast 2022-2029

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