Wind Bearing Market Research
Wind turbines are instrumental in effectively converting kinetic energy from the wind into mechanical energy. The wind turbine industry has become popular over the years owing to various resons, with primary growth drivers including the rising demand for electricity, pro-wind regulatory environments, advantages over other renewables, etc.
Bearings are a critical component in wind turbine rotor drive shafts. Demand for bearings in wind turbines has significantly grown over the recent years and the trend is projected to continue further in coming years. Increasing concerns over global warming have required many governments worldwide to seek alternative clean sources for energy generation; in line with this, wind energy is fast gaining popularity worldwide. Bearings find application in the drive units and generator of a wind turbine. Bearings used in wind turbines are large in size, and rather highly priced.
Research indicates that the world’s wind power capacity is likely to increase by 160 % in the next five years, with global installed wind capacity estimated to reach 409 GW by 2014, up from 158.5 GW in 2009. This augmentation in wind energy projects can be attributed to growing demand as governments look for cleaner sources of energy to reduce greenhouse gas emissions and meet the ever-rising energy needs. The global bearings market is projected to reach US$63.4 billion by 2015. While, the global demand for ball, roller and plain bearings, is expected to increase 8.5% per year through 2014 to $76 billion.
The Wind Bearing market research reports incorporate trend analysis, statistics, market size information, industry growth rates, as well as market share of competitors. The comprehensive research also goes on to examine details such as technology & systems and domestic & international markets.
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