Global Wind Turbine Brakes Market is projected to be valued at USD 400 Million by 2026, at 7% CAGR during the forecast period, 2020–2026. Wind turbine brakes are used to hold the turbine in place and stop the rotors from moving. They are applied for maintenance operations and in extreme weather conditions where excessive wind speed may damage the turbine. Wind turbine brakes are also used to hold the turbine in place in situations where the turbine has a mechanical failure.
The global wind turbine brakes market has been segmented into five regions, namely, Asia-Pacific, the Middle East & Africa, Europe, North America, and South America. Europe is expected to hold the largest share of the market during the forecast period. This is primarily beacuse countries in the region are extensively focused on developing wind energy sources to reduce carbon emissions. In Europe, the UK held the largest share in the market and is expected to register the highest CAGR during the forecast period due to the increasing installation of offshore wind turbine. In North America, the US held the largest market share in 2019 and is expected to grow at the fastest rate during the forecast period, primarily due to the high demand for renewable electricity. In Asia-Pacific, China held the largest market share in 2019 due to extensive government support to adopt wind energy. While the wind turbine brakes market is expected to register the highest CAGR in India during the forecast period due to the increasing demand for renewable electricity in the country. In the Middle East & Africa, Saudi Arabia held the largest market share in 2019 due to the increasing need for renewable electricity in the country. However, the wind turbine brakes market is expected to register the highest CAGR in the UAE, as the country’s government is focused on increasing its share of renewable energy in the nation’s energy mix
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The global wind turbine brakes market has been segmented based on application. Based on the application, the global market is divided into onshore and offshore. The onshore segment is expected to hold a larger share of the market during the forecast period due to the increasing installations of grid-connected wind farms. The offshore segment is expected to grow at the fastest rate during the forecast period due to the technological advancements in the manufacturing process of offshore wind equipment.
Global Wind Turbine Brakes Market is expected to exhibit a 7% CAGR during the forecast period.
Scope of the Report
This report provides an in-depth analysis of the global wind turbine brakes market, tracking one market segment across five geographic regions. The report studies key players, providing a six-year annual trend analysis that highlights the market size and share for North America, Europe, Asia-Pacific, South America, and the Middle East & Africa. The report also presents a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global wind turbine brakes market by application and region.
- North America
- Middle East & Africa
- South America
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The key players operating in the global wind turbine brakes market are Altra Industrial Motion Corp, ANTEC Group, Dellner Brakes AB, Hilliard Corp, Hindon LLC, Hydratech Industries, Miki Pulley Co. Ltd, Siegerland Bremsen GmbH, Thomson Industries Inc, and W.C. Branham Inc.