Wind Turbine Brakes Market

Wind Turbine Brakes Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Wind Turbine Brakes Market was worth US$ 286.1 Mn and is expected to grow at a CAGR of 7.2% over the forecast period. The market is expected to hit US$ 573.4 Mn by 2032 end.

Due to the cleaner and more affordable electricity that wind turbines produce compared to fossil fuels, demand for wind turbines has been growing internationally. The gearbox that lowers the rotating speed of the blade assembly is close to the wind turbine brakes. In the event of power transmission maintenance, power generator rest, and in an emergency, the brakes prevent the blade from rotating.

Market Dynamic

DEMAND FOR RENEWABLE ELECTRICITY FUELS THE MARKET

The increase in industrialization and urbanization worldwide has expanded the market for wind turbine brakes. Global energy demand is increasing as a result of this. Around the world, investments in offshore wind energy have also been growing quickly.

Shortly, it is also projected that increased government measures to promote renewable energy in rural regions may increase demand for wind turbine brakes. The increasing demand for electricity from wind energy is driving the need for wind turbine brakes.

COVID-19 Impact

The coronavirus outbreak has hampered the supply chain for the market for wind turbine brakes. The epidemic has limited the market’s availability of labor and raw supplies. Due to a workforce shortage, ongoing renewable energy initiatives are halted, while new ones are postponed. The majority of firms are concentrating on the use of unique tactics to update their business methods.

Market Segments Covered in Report

By Material:

• Sintered
• Organic
• Others

By Application:

• Onshore
• Offshore

By Installation:

• Company Fitted
• Retrofit

By Type:

• Hydraulic
• Pneumatic
• Mechanical

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Which application segment of Wind Turbine Brakes is projected to dominate the market?

Onshore application segments are economically viable and widely used; they are anticipated to dominate the market.

Why is the retrofit segment expected to experience the fastest growth during the forecast period?

Retrofitting describes integrating new features or technologies into an outdated system. It assists in lowering capital expenses while gaining access to unique technological advantages and lowering maintenance costs. During the anticipated period, the retrofit category is expected to expand considerably.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• Due to increasing investment in wind energy in the area, Asia Pacific led the global market for wind turbine brakes in 2021with a market share of 45.0%. In nations like China, India, and Japan in the Asia Pacific, investments in the renewable energy sector are rising quickly. This is expected to stimulate the local market. The world’s largest installed base of wind power is in China.
• During the projection period, Europe is expected to be a very appealing area of the market due to increased investment in the renewable energy industry. To meet the renewable energy objective, countries in the region are concentrating on producing electricity from renewable sources. In Europe, investments in offshore wind power are also increasing.

Competition Analysis

Many businesses emphasize organic growth initiatives, including new launches, product approvals, patents, and events. Acquisitions, partnerships & collaborations are examples of inorganic growth tactics observed in the market.

These actions have allowed market participants to grow their consumer bases and operations. With the growing demand for wind turbine brakes, market participants are projected to benefit from attractive growth prospects in the coming years.

Some of the key developments that have taken place in the Wind Turbine Brakes Market include:

• In May 2019, Dellner Bubenzer Group unveiled goods connected to wind energy (AWEA) at the American Wind Energy Association. Under the Dellner Brakes and Pintsch Bubenzer brands, the business introduced a variety of rotor, yaw, and pitch motor brakes, sliding bearings, and rotor locks for wind turbines.

A list of some of the key suppliers present in the market are:

• Alian Huarui Heavy Industry India Company Private Limited
• ICP Wind
• ANTEC
• Dellner Bubenzer Group
• C. Branham, Inc.
• Industrial Clutch Parts
• PINTSCH BUBENZER GmbH
• iZanda Portable Machines Tools S.L.
• COHORT Manufacturing Ltd
• KTR Systems GmbH
• Altra Industrial Motion Corp.
• KOR-PAK Corporation

Global Wind Turbine Brakes Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies