Wind Energy Bearings Market is expected to grow at a healthy CAGR of 7.1% during the forecast period; reports Stratview Research.
Raipur, April 29, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a global market research firm has launched a report on the Wind Energy Bearings Market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
What are the Top Market Drivers?
According to the report, the Wind Energy Bearings Market is driven by a host of factors, some of which are noted below:
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.
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
Platform Type – Onshore and Offshore
Ball bearings – Deep Groove Ball Bearing, Angular Contact Ball Bearing, and Others.
Roller Bearings – Cylindrical Roller, Tapered Roller Bearing, and Spherical Roller Bearing.
Material Type – Metallic Bearings, Non-metallic Bearings, and Hybrid Bearings.
Application Type – Gear Box, Main Shaft, Electric Generators, and Others.
End-User Type – OE and Aftermarket
Region-wise – North America, Europe, Asia-pacific, and the Rest of the world.
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 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 gearbox has a major use of bearings. Gearbox’s reliability has improved remarkably in the past years due to a better understanding of bearing loads.
Which region offers the best opportunity and growth?
The 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 in wind farms in both offshore and onshore platforms.
China, 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.
To know more about the covid-19 impact, get a free sample report, here.
Who are the Top Market Players?
After a thorough analysis of the market, the experts have listed a few key players and discussed company profiles of the below-given players -
Run through the ToCs of this report, here.
What deliverables will you get in this report?
In-depth analysis of the Wind Energy Bearings Market.
Historical, present, and future market size analysis.
Industry trends, technologies, and advancements.
Growth and operation strategies adopted by key players.
Potential segments/regions offering promising growth.
The geographical presence of the key players.
Related reports which might be useful:
Machine tool Bearings Forecast and Strategic Assessment.
General Machinery Bearings Market Forecast and Strategic Assessment
Stratview Research is a global market research firm that offers reliable market reports, market entry strategies, strategic growth consulting, and more. The market experts compile high-quality market information to help users obtain granular level clarity on current business trends and expected future developments. Stratview Research also offers customisation of the reports. Reach out to the analysts to customize the given report according to your priority/requirement.
Stratview Research has also launched 'Composights', an online portal that offers free thought leadership reports, whitepapers, market report synopsis, and much more for Composites and allied industries, worth US$ 20,000 every year.
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