Global Wind Turbine Bearings Market to Reach $11 Billion by 2027
Amid the COVID-19 crisis, the global market for Wind Turbine Bearings estimated at US$5.1 Billion in the year 2020, is projected to reach a revised size of US$11 Billion by 2027, growing at aCAGR of 11.7% over the period 2020-2027. Onshore Wind Turbine Bearings, one of the segments analyzed in the report, is projected to record 10.9% CAGR and reach US$8.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Offshore Wind Turbine Bearings segment is readjusted to a revised 14.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.4 Billion, While China is Forecast to Grow at 15.2% CAGR
The Wind Turbine Bearings market in the U.S. is estimated at US$1.4 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$2.4 Billion by the year 2027 trailing a CAGR of 15.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.2% and 10.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.1% CAGR.We bring years of research experience to this 8th edition of our report. The 179-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.Competitors identified in this market include, among others,
- Dalian Metallurgical Bearing Group Co. Ltd.
- IMO Antriebseinheit GmbH & Co. KG
- Liebherr-International AG
- NSK Ltd.
- NTN Bearing Corp.
- Rollix Defontaine S.A
- Rothe Erde India
- Schaeffler AG
- SKF Group
- Timken Company