The demand for wind turbines is expected to be significant from emerging economies in APAC such as India and China. For instance, India is expected to double its wind power capacity by 2020 by adding 4,000 MW per annum. Also, the wind power capacity in India has grown five times in the past 10 years to reach 25,000 MW in 2015.Frequent gearbox failures (nearly 60% of failures in wind turbines are caused by faults in gearboxes) coupled with growth in R&D activities in direct drive turbines are expected to hinder the growth of the global wind turbine gearbox market during the forecast period.The market is facing stiff competition from direct drive technology. This has led the gearbox vendors to invest in R&D and offer innovative products. In April 2016, ZF Friedrichshafen introduced the concept of intelligent wind gearboxes to improve the reliability and efficiency of wind turbines. Major features of this concept include Bluetooth smart tags, remote visual inspection, and dynamic load monitoring.As the market is highly competitive, leading companies are aggressively signing joint ventures or acquisition deals to enhance their capabilities and gain a competitive edge. For instance, in December 2015, ZF Friedrichshafen acquired Bosch Rexroth to strength its wind turbine gearbox business.

PART 01: Executive summary ............................................ 6

Highlights 6

PART 02: Scope of the report ............................................. 8

Market overview 8

Top-vendor offerings 10

PART 03: Market research methodology ......................... 11

Research methodology 11

Economic indicators 11

PART 04: Introduction ....................................................... 12

Key market highlights 12

Cost break-up of wind turbine components 14

Wind turbine components 15

Wind turbine technology value chain 18

PART 05: Market landscape .............................................. 19

Market overview 19

Market size and forecast 20

Five forces analysis 23

PART 06: Global wind turbine gearbox market by

geography .......................................................... 24

Global wind turbine gearbox market by geography 24

Global wind turbine gearbox market by geography 25

Wind turbine gearbox market in the Americas 31

Wind turbine gearbox market in EMEA 33

PART 07: Market segmentation by installation .............. 37

Global wind turbine gearbox market by installation 37

Global wind turbine gearbox market by installation 38

Global wind turbine gearbox market by new installation

capacity 39

Global wind turbine gearbox market by replacement

demand 41

PART 08: Market drivers ................................................... 43

Increase in rotor diameter 43

Rise in wind energy consumption 44

Government support for wind energy projects 46

Decline in LCOE of wind power generation 47

Growth in offshore installations 49

PART 09: Impact of drivers ............................................... 51

PART 10: Market challenges ............................................. 52

High failure rate of wind turbine components 52

Shorter lifetime of gearboxes compared with that of

turbines 54

R&D in direct-drive generators for wind turbines to impact

gearing demand 54

Competition from fossil fuels 55

PART 11: Impact of drivers and challenges .................... 57

PART 12: Market trends .................................................... 58

Digitization in gearboxes 58

Increase in demand for clean power 60

Increased focus on R&D to improve gearbox reliability 63

PART 13: Vendor landscape ............................................. 64

Competitive scenario 64

Other prominent vendors 65

PART 14: Key vendor analysis ......................................... 67

China High Speed Transmission 67

Gamesa Energy Transmission 70

Moventas 75

Winergy 78

ZF Friedrichshafen 81

PART 15: Appendix ........................................................... 85

List of abbreviations 85

PART 16: Explore Technavio ............................................ 86