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Offshore Wind Turbine Pitch and Yaw Drive Market Trends

Report ID: GMI12054
Published Date: Oct 2024
Report Format: PDF

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Offshore Wind Turbine Pitch and Yaw Drive Market Trends

Shifting focus toward large wind turbines with high capacities driven by high requirement for higher energy production and efficiency is set to stimulate the business landscape. Manufacturers are developing more robust materials and innovative designs that can withstand the increased stresses associated with larger turbines will accelerate the market growth. Further, larger wind turbines produce more power, necessitating enhanced grid connection solutions to manage the increased energy flow efficiently and safely driving the industry scenario.

Authors: Ankit Gupta, Srishti Agarwal

Frequently Asked Questions (FAQ) :

The global market for offshore wind turbine pitch and yaw drive was reached USD 592.5 million in 2023 and is anticipated to grow at a CAGR of 15.8% from 2024 to 2032, propped by technological advancements and increasing adoption of offshore wind energy.

The hydraulic pitch system segment is projected to exceed USD 1.79 billion by 2032, due to its high torque capabilities, durability, and resistance to harsh environmental conditions.

The large blade length segment is expected to grow at a CAGR of 15.5% through 2032, owing to higher energy yields and technological advancements in composite materials and aerodynamic designs.

The Europe offshore wind turbine pitch and yaw drive market is predicted to reach USD 1.12 billion by 2032, driven by technological advancements, favorable policies, and rising adoption of digitalized systems with real-time monitoring.

Key players in the industry include ABM Greiffenberger, Bosch Rexroth AG, Bonfiglioli S.p.A, Dana SAC UK, Comer Industries, KEBA, Liebherr, Nabtesco Corporation, Nanjing High Speed Gear Manufacturing Co., Ltd, Nidec Conversion, SIPCO–MLS, Schaeffler Group, and ZOLLERN GmbH & Co.