Wind turbine gearbox market to touch $8B by 2020, India holds 11.2% of total blade installations

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Wind turbine gearbox market to touch $8B by 2020, India holds 11.2% of total blade installations

Greentech Lead America: Global wind energy installed
capacity increased at a Compound Annual Growth Rate (CAGR) of 26.5 percent from
74,122 Megawatts (MW) in 2006 to 240,000 MW in 2011, according to Global
Information Inc (GII).

Annual turbine installations are expected to grow from
39.9 Gigawatts (GW) in 2011 to 40.6 GW in 2012, against a backdrop of order
intakes by major wind turbine manufacturers.

During the 2012-2020 forecast period, global wind turbine
installations will show steady growth, and cumulative wind power installed
capacity will reach 391,985 MW by 2015 and 658,448 MW by 2020.

The wind turbine industry provides employment to over
450,000 people worldwide, according to GII.

The global market for wind turbine
gearboxes increased from an estimated $3.2 billion in 2006
to $6.9 billion in 2011 at a CAGR of 16.8 percent. The gearbox market
growth is due mainly to the increasing installations that are to be made in the
forecast period. The average cost of a gearbox unit is also expected to decline
by 2020, due mainly to the technological improvements made to gearbox
equipment. Against this backdrop, the global wind turbine gearbox market is
expected to reach $8.1 billion by 2020, increasing at a CAGR of 1.8
percent between 2006 and 2020.

The global wind turbine gearbox market, including
independent suppliers and in-house manufacturers, is dominated by Winergy and
China High Speed Transmission Equipment. The two companies account for a
combined 51.5 percent share of global gearbox production for wind turbines in
2011.

Winergy leads global wind turbine gearbox production,
accounting for a 27 percent share, followed closely by China High Speed
Transmission Equipment with 24.5 percent. Hansen Transmissions International is
the third largest company in the world with a 12 percent share, followed by
Bosch Rexroth with 5.7 percent. Moventas and Gamesa Corporacion Tecnologica
account for respective shares of 4.8 percent and 4.7 percent.

Global annual wind turbine rotor blade
installations increased steadily from 2006 to 2009 due to more wind farms
coming online as a result of favorable governmental policies in several
countries and also due to increasing environmental
awareness. China and the US dominated the rotor blade market in 2011
in terms of the number of blades installed in the period. The two countries
installed 37,385 and 11,085 wind rotor blades, respectively, and together
contributed to more that 75 percent of the global wind rotor blade
installations.

India followed closely with 7,246 blades,
contributing 11.2 percent of the global total of blade
installations. Germany, Canada, Spain and the UK were the
other countries in the market, with a significant number of blades installed,
contributing 4 percent, 3 percent, 2.2 percent and 1.6 percent of global
installations respectively in 2011.

editor@greentechlead.com

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