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Global Wind Turbine Bearing Market 2016-2020

Global Wind Turbine Bearing Market 2016-2020

About Bearings

Bearings are machine elements used to reduce energy loss caused by friction in the rotary parts of a broad range of equipment and machinery. There are several types of bearings such as ball bearings, roller bearings, plain bearings, and others. Technological advances and the growing need to address energy efficiency in a range of applications are leading to a continuous improvement in bearing designs. Therefore, the prospects for market growth of bearings are closely linked to the growth in production of high-performance industrial equipment and machinery.

Technavio’s analysts forecast the global wind turbine bearing market to grow at a CAGR of 12.61% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global wind turbine bearing market for 2016-2020. To calculate the market size, the report considers the average price of bearings.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Wind Turbine Bearing Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Dalian Metallurgical Bearing
  • SKF
  • Timken
  • TMB
  • ZWZ
Other prominent vendors
  • IMO
  • Liebherr
  • NSK
  • NTN Bearing
  • Rollix
  • Rothe Erde
  • Schaeffler
Market driver
  • Rise in offshore installations
  • For a full, detailed list, view our report
Market challenge
  • R&D in direct-drive generators for wind turbines will impact gearing demand
  • For a full, detailed list, view our report
Market trend
  • Growing environmental concerns
  • For a full, detailed list, view our report
Key questions answered in this report
  • 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?


Press Release

Technavio Announces the Publication of its Research Report – Global Wind Turbine Bearing Market 2016-2020

Technavio recognizes the following companies as the key players in the global wind turbine bearing market: Dalian Metallurgical Bearing, SKF, Timken, TMB, and ZWZ.

Other Prominent Vendors in the market are: IMO, Liebherr, NSK, NTN Bearing, Rollix, Rothe Erde, and Schaeffler.

Commenting on the report, an analyst from Technavio’s team said: “The demand for power is constantly increasing across the world. The growth in population and the global economy is expected to drive this trend in the future as well. According to the UN, the global population is expected to increase from 6.7 billion in 2011 to 8.7 billion by 2035. In addition, according to the International Energy Agency (IEA), global demand for power is forecast to increase from 19,004 TWh in 2011 to 34,454 TWh by 2035. Thus, to sustain this economic growth in the face of population rise and increasing development would require substantial amounts of power.”

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.

Companies Mentioned

Dalian Metallurgical Bearing, SKF, Timken, TMB, ZWZ, IMO Liebherr, NSK, NTN Bearing, Rollix, Rothe Erde, and Schaeffler.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
      • Table Key countries in each region
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
      • Table Global cumulative wind installed capacity 2015-2020 (GW)
      • Table Annual installation growth rate by region
      • Table Wind turbine components
      • Table Cost breakdown of wind turbine components
  • Market landscape
    • Market size and forecast
      • Table Global wind turbine bearing market 2015-2020 ($ billions)
      • Table Elements causing most downtime in wind turbines
    • Five forces analysis
      • Table Five forces analysis
  • Market drivers
    • Decline in LCOE of wind power generation
      • Table Cost of producing electricity in UK from different sources 2014-2015 ($/kW)
      • Table Country-wise onshore wind power LCOE in 2015 ($/kWh)
    • Increase in rotor diameter
      • Table Impact of rotor diameter, turbine size, and hub height on annual wind energy production
      • Table Evolution of wind turbine size 1980-2011
    • Rise in offshore installations
      • Table Global cumulative offshore wind installation capacity 2006-2015 (MW)
  • Market challenges
    • Competition from fossil fuels
      • Table Global electricity generation by source and wind power generation share in global electricity generation 2001-2013 (%)
    • R&D in direct-drive generators for wind turbines will impact gearing demand
    • Bearings cause high failure rate of wind turbine components
      • Table Major malfunction leading to wind turbine component failure
      • Table Gearbox component failure leading to malfunction
      • Table Reasons for bearing failure
    • High investments needed in offshore projects
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Increase in demand for power
      • Table Countries with renewable targets and policies 2005
      • Table Countries with renewable targets and policies 2015
      • Table New wind installation targets by 2020 (GW)
    • Growing environmental concerns
      • Table Estimated global annual CO emissions 2014-2032 (million tons)
  • Market segmentation by product
    • Wind turbine bearing market by product
      • Table Wind turbine bearing market by product segmentation
      • Table Wind turbine bearing market by product segmentation 2015 and 2020 ($ millions)
  • Market segmentation by application
    • Market overview
      • Table Global wind turbine bearing market by application 2015 and 2020
    • Global onshore wind turbine bearing market
      • Table Global onshore wind turbine bearing market 2015-2020 ($ billions)
      • Table Global cumulative onshore wind capacity 2010-2015 (GW)
      • Table New onshore wind installations in top five countries in 2015 (MW)
    • Global offshore wind turbine bearing market
      • Table Global offshore wind turbine bearing market 2015-2020 ($ billions)
      • Table Global cumulative offshore wind capacity 2010-2014 (MW)
      • Table Cumulative offshore wind capacity by country in 2015 (MW)
  • Geographical segmentation
    • Market overview
      • Table Global wind turbine bearing market by geography 2015 and 2020
    • Wind turbine bearing market in APAC
      • Table Wind turbine bearing market in APAC 2015-2020 ($ billions)
      • Table Total installed wind power capacity in China 2010-2015 (MW)
      • Table Total installed wind power capacity in India 2010-2015 (MW)
      • Table Wind capacity in other prominent APAC countries 2010-2015 (MW)
    • Wind turbine bearing market in EMEA
      • Table Wind turbine bearing market in EMEA 2015-2020 ($ billions)
      • Table Total installed wind power capacity in Germany 2010-2015 (MW)
      • Table Total installed wind power capacity in UK 2010-2015 (MW)
    • Wind turbine bearing market in Americas
      • Table Wind turbine bearing market in Americas 2015-2020 ($ billions)
      • Table Benefits of Timken's WR SRB bearings
      • Table Wind power capacity in US 2010-2015 (MW)
      • Table Wind power capacity in Canada 2010-2015 (MW)
  • Vendor landscape
    • Competitive landscape
      • Table Market shares of global wind turbine vendors 2015 (%)
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Dalian Metallurgical Bearing Group
    • SKF
    • Timken
      • Table Timken: Precision ball bearings
    • TMB
    • ZWZ
  • Appendix
    • List of abbreviations
  • Explore Technavio

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