COVID-19 Impacts: Global Wind Turbine Bearing Market will Accelerate at a CAGR of almost 11% through 2020-2024 | Rising Investments in Clean Sources of Energy to Boost Growth | Technavio

Technavio has been monitoring the global wind turbine bearing market size and it is poised to grow by USD 7.22 billion during 2020-2024, progressing at a CAGR of almost 11% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.

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Technavio has announced its latest market research report titled Global Wind Turbine Bearing Market 2020-2024 (Graphic: Business Wire)

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please Request the Latest Free Sample Report on COVID-19 Impact

Frequently Asked Questions -

• What was the value of the wind turbine bearing market in 2019?
  
  Technavio says that the value of market was at USD 10.80 billion in 2019 and is projected to reach USD 18.02 billion by 2024.
• At what rate is the market projected to grow during the forecast period 2020-2024?
  
  Growing at a CAGR of almost 11%, the market growth will accelerate in the forecast period of 2020-2024.
• What is the key factor driving the market?
  
  Rising investments in clean sources of energy has been instrumental in driving the growth of the market.
• Who are the top players in the market?
  
  AB SKF, Dalian Metallurgical Bearing Co. Ltd., JTEKT Corp., LYC Bearing Corp., NSK Ltd., NTN Corp., Schaeffler AG, The Timken Co., thyssenkrupp AG, and Wafangdian Bearing Co. Ltd. are some of the major market participants.
• Which region is expected to hold the highest market share in the market?
  
  APAC region
• Based on segmentation by product, which segment is expected to witness the fastest growth in the global market?
  
  GBMB segment is expected to grow at a faster rate.

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. AB SKF, Dalian Metallurgical Bearing Co. Ltd., JTEKT Corp., LYC Bearing Corp., NSK Ltd., NTN Corp., Schaeffler AG, The Timken Co., thyssenkrupp AG, and Wafangdian Bearing Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The rising investments in clean sources of energy has been instrumental in driving the growth of the market. However, the competition from alternative sources of energy might hamper market growth.

Wind Turbine Bearing Market 2020-2024: Segmentation

Wind Turbine Bearing Market is segmented as below:

• Product
  • GBMB
  • BBYBGB
• Application
  • Offshore
  • Onshore
• Geographic Landscape
  • APAC
  • Europe
  • North America
  • South America
  • MEA

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Wind Turbine Bearing Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our wind turbine bearing market report covers the following areas:

• Wind Turbine Bearing Market size
• Wind Turbine Bearing Market trends
• Wind Turbine Bearing Market industry analysis

This study identifies the rising number of offshore wind farm installations as one of the prime reasons driving the wind turbine bearing market growth during the next few years.

Wind Turbine Bearing Market 2020-2024: Vendor Analysis

We provide a detailed analysis of around 25 vendors operating in the wind turbine bearing market, including some of the vendors such as AB SKF, Dalian Metallurgical Bearing Co. Ltd., JTEKT Corp., LYC Bearing Corp., NSK Ltd., NTN Corp., Schaeffler AG, The Timken Co., thyssenkrupp AG, and Wafangdian Bearing Co. Ltd. Backed with competitive intelligence and benchmarking, our research reports on the wind turbine bearing market are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.

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Wind Turbine Bearing Market 2020-2024: Key Highlights

• CAGR of the market during the forecast period 2020-2024
• Detailed information on factors that will assist wind turbine bearing market growth during the next five years
• Estimation of the wind turbine bearing market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the wind turbine bearing market
• Analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of wind turbine bearing market vendors

Table of Contents:

Executive Summary

Market Landscape

• Market ecosystem
• Value chain analysis

Market Sizing

• Market definition
• Market segment analysis
• Market size 2019
• Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

• Five forces summary
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition

Market Segmentation by Product

• Market segments
• Comparison by product
• GBMB - Market size and forecast 2019-2024
• BBYBGB - Market size and forecast 2019-2024
• Market opportunity by Product

Market Segmentation by Application

• Market segments
• Comparison by Application
• Onshore - Market size and forecast 2019-2024
• Offshore - Market size and forecast 2019-2024
• Market opportunity by Application

Customer Landscape

Geographic Landscape

• Geographic segmentation
• Geographic comparison
• APAC - Market size and forecast 2019-2024
• Europe - Market size and forecast 2019-2024
• North America - Market size and forecast 2019-2024
• South America - Market size and forecast 2019-2024
• MEA - Market size and forecast 2019-2024
• Key leading countries
• Market opportunity by geography

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

• Vendor landscape
• Landscape disruption
• Competitive scenario

Vendor Analysis

• Vendors covered
• Market positioning of vendors
• AB SKF
• Dalian Metallurgical Bearing Co. Ltd.
• JTEKT Corp.
• LYC Bearing Corp.
• NSK Ltd.
• NTN Corp.
• Schaeffler AG
• The Timken Co.
• thyssenkrupp AG
• Wafangdian Bearing Co. Ltd.

Appendix

• Scope of the report
• Currency conversion rates for US$
• Research methodology
• List of abbreviations

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View source version on businesswire.com: https://www.businesswire.com/news/home/20200727005306/en/