The global wind turbine market is expected to witness major demand from emerging economies in APAC such as India and China. For instance, India is likely to expand its wind power capacity by adding 4,000 MW per annum over the next five years; whereas, China's wind power capacity is expected to reach 217 GW by 2020.Gearbox bearing costs account for over 50% of the overall wind turbine bearing costs. Technological advances and an increase in R&D in direct-drive turbines,which do not require a gearbox, are expected to hinder the growth of the global wind turbine bearing market.The decline in the levelized cost of energy (LCOE) of wind power and the growth in renewable energy targets worldwide are projected to result in increased installation of wind turbines. During the forecast period, developed economies in Europe such the UK and Germany are expected to invest more in the offshore wind power generation segment. Technological advances in turbines and decline in the LCOE of offshore wind power — from $110/kW in 2014 to $84/kW in 2015 — are the key factors driving investments in this segment.

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

Highlights 6

PART 02: Scope of the report ............................................. 7

Market overview 7

Top-vendor offerings 8

PART 03: Market research methodology ......................... 10

Research methodology 10

Economic indicators 10

PART 04: Introduction ....................................................... 11

Key market highlights 11

PART 05: Market landscape .............................................. 16

Market size and forecast 16

Five forces analysis 19

PART 06: Market drivers ................................................... 20

Decline in LCOE of wind power generation 20

Increase in rotor diameter 21

Rise in offshore installations 22

PART 07: Market challenges ............................................. 24

Competition from fossil fuels 24

R&D in direct-drive generators for wind turbines will

impact gearing demand 25

Bearings cause high failure rate of wind turbine

components 26

High investments needed in offshore projects 28

PART 08: Impact of drivers and challenges .................... 29

PART 09: Market trends .................................................... 30

Increase in demand for power 30

Growing environmental concerns 33

PART 10: Market segmentation by product ..................... 35

Wind turbine bearing market by product 35

PART 11: Market segmentation by application ............... 37

Market overview 37

Global onshore wind turbine bearing market 38

Global offshore wind turbine bearing market 41

PART 12: Geographical segmentation ............................. 44

Market overview 44

Wind turbine bearing market in APAC 45

Wind turbine bearing market in EMEA 48

Wind turbine bearing market in Americas 51

PART 13: Vendor landscape ............................................. 55

Competitive landscape 55

Other prominent vendors 56

PART 14: Key vendor analysis ......................................... 57

Dalian Metallurgical Bearing Group 57

SKF 58

Timken 58

TMB 62

ZWZ 62

PART 15: Appendix ........................................................... 64

List of abbreviations 64

PART 16: Explore Technavio ............................................ 65