Global Wind Turbine Bearing Market Size, Share, Trends, Industry Growth by Type (Slewing Ring Bearings, Spherical Roller Bearings), by Application (On-shore, Off-shore), by Sales Channel, by Region, and Forecast to 2030

Report ID: RCMA756 | Report Format: PDF + Excel | Starting Price: 3600/- USD |

The global wind turbine bearing market size was valued at around USD 6 billion in 2023 and expected to grow at a significant CAGR during the forecast period from 2024 to 2030. The escalating global demand for clean and sustainable energy sources has positioned wind power at the forefront, driving substantial growth in wind turbine installations. Governments and energy companies, spurred by environmental concerns and the need to meet renewable energy targets, are actively expanding wind power capacity. This surge in demand has a direct impact on the wind turbine bearing market, as these essential components play a critical role in the efficient functioning of wind turbines. Moreover, technological advancements, particularly in larger and more efficient turbine designs, fuel the demand for bearings with enhanced capabilities. The burgeoning offshore wind energy sector, supportive government policies, cost reduction initiatives, and a sustained focus on research and development further contribute to the momentum of the wind turbine bearing market, reflecting its integral role in the broader context of global efforts toward a more sustainable energy future.

Market Snapshot:

Benchmark Year 2023
Market Size ~ USD 6 Billion in 2023
Market Growth (CAGR) ~ x.x% lock
Largest Market Share Asia Pacific
Analysis Period 2020-2030
Market Players Schaeffler Group, SKF Group, NSK Ltd., Timken Company, and NTN Corporation

To know more about the study, request sample papers

Market Drivers:

  • Rising Demand for Renewable Energy: The increasing global emphasis on transitioning towards sustainable and eco-friendly energy sources is a primary driver for the wind energy sector. As wind power becomes a significant contributor to renewable energy, the demand for wind turbines, and consequently, wind turbine bearings, experiences substantial growth.
  • Increasing Wind Power Capacity: Governments and energy companies worldwide are actively investing in expanding their wind power capacity. As a result, there is a heightened demand for wind turbines, and the components supporting them, such as bearings, play a crucial role in meeting this escalating demand.
  • Technological Advancements: Ongoing advancements in wind turbine technology, with a focus on larger and more efficient turbines, necessitate bearings with improved capabilities. Innovations in materials, design, and manufacturing processes contribute to the development of bearings that can handle higher loads and offer increased reliability.
  • Offshore Wind Energy Development: The offshore wind energy sector is gaining traction due to the availability of strong and consistent winds at sea. However, offshore conditions pose unique challenges. Specialized bearings, designed to withstand corrosive saltwater environments and extreme weather conditions, are essential for the success of offshore wind projects.
  • Government Incentives and Policies: Supportive policies, subsidies, and incentives from governments worldwide encourage investments in renewable energy projects, including wind power. These initiatives create a favorable environment for the wind turbine bearing market by stimulating investment in wind energy infrastructure.
  • Environmental Concerns and Regulations: Growing awareness of environmental issues and the need to reduce carbon emissions have led to an increased focus on clean energy solutions. Strict environmental regulations and targets for reducing greenhouse gas emissions drive the adoption of wind energy, boosting the market for wind turbine bearings.
  • Cost Reduction Initiatives: Efforts to reduce the overall cost of wind energy production drive research and development in various components, including bearings. Cost-effective bearing solutions that maintain high performance standards are crucial for making wind energy more economically viable.
  • Growing Global Wind Industry: The expansion of the global wind energy market, with new projects and installations across different regions, creates sustained demand for wind turbine components, including bearings. The continuous growth of the wind industry contributes to the overall health and development of the wind turbine bearing market.

Market Insights:

The global wind turbine bearing market is bifurcated into type, application, sales channel, and geography. On the basis of type, the market is further segmented into slewing ring bearings and spherical roller bearings. The demand for slewing ring bearings in the wind turbine industry is on the rise, driven by several key factors. The expansion of offshore wind farms, particularly in regions with favorable wind conditions at sea, has necessitated larger and more powerful wind turbines, thereby increasing the demand for slewing ring bearings. These bearings, integral to the yaw and pitch systems, play a vital role in optimizing the turbines’ ability to capture wind energy efficiently. Technological advancements in wind turbine design and materials have contributed to improved bearing performance and durability. As the global emphasis on renewable energy continues to grow, investments in wind energy projects have increased, propelling the demand for essential components like slewing ring bearings. Additionally, the competitive landscape in the wind industry has spurred manufacturers to innovate and introduce more advanced and efficient slewing ring bearing solutions, further contributing to the overall growth in demand.

Slewing Ring Bearings: Slewing ring bearings, also known as turntable bearings or slewing bearings, play a crucial role in the yaw and pitch systems of wind turbines. They enable the controlled rotation of the turbine blades and nacelle, ensuring proper alignment with the wind for optimal energy capture. The demand for slewing ring bearings is influenced by the growth of wind energy installations. As the wind industry expands, particularly in offshore applications with larger turbines, the need for robust and reliable slewing ring bearings increases. Their ability to withstand heavy loads and provide smooth rotation positions them as integral components in modern wind turbine designs.

Spherical Roller Bearings: Spherical roller bearings are designed to accommodate high radial loads and moderate axial loads in both directions. In wind turbines, they are commonly used in the main shaft and gearbox applications, where they contribute to the overall efficiency and reliability of the turbine. The market for spherical roller bearings in the wind turbine industry is influenced by the continuous evolution of turbine designs and the increasing focus on efficiency. These bearings are critical in handling the complex loads and misalignments encountered in wind turbine operations. With the trend toward larger and more powerful turbines, there is a growing demand for advanced spherical roller bearings that offer enhanced performance, durability, and lubrication capabilities.

The wind turbine bearing market research report presents the analysis of each segment from 2020 to 2030 considering 2023 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2024 to 2030.

Historical & Forecast Period

  • 2020-22 – Historical Year
  • 2023 – Base Year
  • 2024-2030 – Forecast Period

Market Segmentation:

By Type:

  • Slewing Ring Bearings
  • Spherical Roller Bearings

By Application:

  • On-shore
  • Off-shore

By Sales Channel:

  • Original Equipment Manufacturers (OEMs)
  • Aftermarket

By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Regional Analysis:

Geographically, North America dominated the global wind turbine bearing market in the benchmark year and expected to grow at the same trend over the forecast period. The United States, in particular, has witnessed a substantial surge in wind energy capacity, fueled by supportive government policies, state-level renewable energy initiatives, and advancements in wind turbine technology. The presence of favorable regulatory frameworks and incentives at both federal and state levels has likely encouraged significant investments in renewable energy projects, thereby fostering the growth of the wind turbine market, including the demand for bearings. If there have been noteworthy developments in wind technology, such as the deployment of larger turbines or innovations in bearing design, North America’s dominance could be a reflection of its leadership in driving advancements in the industry. Moreover, strategic investments, collaborations, and a competitive edge in manufacturing advanced wind turbine bearings may contribute to the region’s prominence. Factors such as increased focus on offshore wind projects, where specialized bearings are crucial, could further solidify North America’s dominance in the wind turbine bearing market.

Competitive Assessment:

Some of the prominent market players operating in the global wind turbine bearing market are Schaeffler Group, SKF Group, NSK Ltd., Timken Company, and NTN Corporation. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

  • Schaeffler Group
  • SKF Group
  • NSK Ltd.
  • Timken Company
  • NTN Corporation
  • Schaeffler Technologies AG & Co. KG
  • Regal Beloit Corporation
  • JTEKT Corporation
  • ZKL Group
  • C&U Group

Key Questions Answered by Wind Turbine Bearing Market Report

  • Global wind turbine bearing market forecasts from 2024-2030
  • Regional market forecasts from 2024-2030 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
  • Country-level forecasts from 2024-2030 covering 15 major countries from the regions as mentioned above
  • Wind turbine bearing submarket forecasts from 2024-2030 covering the market by type, application, sales channel, and geography
  • Various industry models such as SWOT analysis, Value Chain Analysis about the market
  • Analysis of the key factors driving and restraining the growth of the global, regional, and country-level wind turbine bearing markets from 2024-2030
  • Competitive Landscape and market positioning of top 10 players operating in the market
Wind Turbine Bearing Market
Table of Contents:

1. Preface


1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions

 

2. Executive Summary


2.1. Global Wind Turbine Bearing Market Portraiture
2.2. Global Wind Turbine Bearing Market, by Type, 2023 (USD Mn)
2.3. Global Wind Turbine Bearing Market, by Application, 2023 (USD Mn)
2.4. Global Wind Turbine Bearing Market, by Sales Channel, 2023 (USD Mn)
2.5. Global Wind Turbine Bearing Market, by Geography, 2023 (USD Mn)

 

3. Global Wind Turbine Bearing Market Analysis


3.1. Wind Turbine Bearing Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. PESTLE Analysis

 

4. Global Wind Turbine Bearing Market by Type, 2020 – 2030 (USD Mn)


4.1. Overview
4.2. Slewing Ring Bearings
4.3. Spherical Roller Bearings

 

5. Global Wind Turbine Bearing Market by Application, 2020 – 2030 (USD Mn)


5.1. Overview
5.2. On-shore
5.3. Off-shore

 

6. Global Wind Turbine Bearing Market by Sales Channel, 2020 – 2030 (USD Mn)


6.1. Overview
6.2. Original Equipment Manufacturers (OEMs)
6.3. Aftermarket

 

7. North America Wind Turbine Bearing Market Analysis and Forecast, 2020 – 2030 (USD Mn)


7.1. Overview
7.2. North America Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
7.3. North America Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
7.4. North America Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
7.5. North America Wind Turbine Bearing Market by Country, (2020-2030 USD Mn)
7.5.1. U.S.
7.5.1.1. U.S. Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
7.5.1.2. U.S. Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
7.5.1.3. U.S. Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
7.5.2. Canada
7.5.2.1. Canada Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
7.5.2.2. Canada Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
7.5.2.3. Canada Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
7.5.3. Mexico
7.5.3.1. Mexico Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
7.5.3.2. Mexico Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
7.5.3.3. Mexico Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)

 

8. Europe Wind Turbine Bearing Market Analysis and Forecast, 2021 - 2030 (USD Mn)


8.1. Overview
8.2. Europe Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
8.3. Europe Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
8.4. Europe Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
8.5. Europe Wind Turbine Bearing Market by Country, (2020-2030 USD Mn)
8.5.1. Germany
8.5.1.1. Germany Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
8.5.1.2. Germany Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
8.5.1.3. Germany Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
8.5.2. U.K.
8.5.2.1. U.K. Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
8.5.2.2. U.K. Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
8.5.2.3. U.K. Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
8.5.3. France
8.5.3.1. France Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
8.5.3.2. France Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
8.5.3.3. France Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
8.5.4. Spain
8.5.4.1. Spain Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
8.5.4.2. Spain Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
8.5.4.3. Spain Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
8.5.5. Italy
8.5.5.1. Italy Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
8.5.5.2. Italy Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
8.5.5.3. Italy Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
8.5.6. Rest of Europe
8.5.6.1. Rest of Europe Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
8.5.6.2. Rest of Europe Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
8.5.6.3. Rest of Europe Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)

 

9. Asia Pacific Wind Turbine Bearing Market Analysis and Forecast, 2021 - 2030 (USD Mn)


9.1. Overview
9.2. Asia Pacific Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
9.3. Asia Pacific Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
9.4. Asia Pacific Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
9.5. Asia Pacific Wind Turbine Bearing Market by Country, (2020-2030 USD Mn)
9.5.1. China
9.5.1.1. China Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
9.5.1.2. China Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
9.5.1.3. China Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
9.5.2. Japan
9.5.2.1. Japan Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
9.5.2.2. Japan Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
9.5.2.3. Japan Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
9.5.3. India
9.5.3.1. India Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
9.5.3.2. India Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
9.5.3.3. India Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
9.5.4. South Korea
9.5.4.1. South Korea Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
9.5.4.2. South Korea Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
9.5.4.3. South Korea Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
9.5.5. Rest of Asia Pacific
9.5.5.1. Rest of Asia Pacific Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
9.5.5.2. Rest of Asia Pacific Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
9.5.5.3. Rest of Asia Pacific Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)

 

10. Latin America (LATAM) Wind Turbine Bearing Market Analysis and Forecast, 2021 - 2030 (USD Mn)


10.1. Overview
10.2. Latin America Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
10.3. Latin America Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
10.4. Latin America Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
10.5. Latin America Wind Turbine Bearing Market by Country, (2020-2030 USD Mn)
10.5.1. Brazil
10.5.1.1. Brazil Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
10.5.1.2. Brazil Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
10.5.1.3. Brazil Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
10.5.2. Argentina
10.5.2.1. Argentina Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
10.5.2.2. Argentina Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
10.5.2.3. Argentina Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
10.5.3. Rest of Latin America
10.5.3.1. Rest of Latin America Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
10.5.3.2. Rest of Latin America Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
10.5.3.3. Rest of Latin America Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)

 

11. Middle East and Africa Wind Turbine Bearing Market Analysis and Forecast, 2021 - 2030 (USD Mn)


11.1. Overview
11.2. MEA Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
11.3. MEA Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
11.4. MEA Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
11.5. Middle East and Africa Wind Turbine Bearing Market, by Country, (2020-2030 USD Mn)
11.5.1. GCC
11.5.1.1. GCC Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
11.5.1.2. GCC Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
11.5.1.3. GCC Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
11.5.2. South Africa
11.5.2.1. South Africa Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
11.5.2.2. South Africa Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
11.5.2.3. South Africa Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)
11.5.3. Rest of MEA
11.5.3.1. Rest of MEA Wind Turbine Bearing Market by Type, (2020-2030 USD Mn)
11.5.3.2. Rest of MEA Wind Turbine Bearing Market by Application, (2020-2030 USD Mn)
11.5.3.3. Rest of MEA Wind Turbine Bearing Market by Sales Channel, (2020-2030 USD Mn)

 

12. Competitive Landscape


12.1. Company Market Share Analysis, 2023
12.2. Competitive Dashboard
12.3. Competitive Benchmarking
12.4. Geographic Presence Heatmap Analysis
12.5. Company Evolution Matrix
12.5.1. Star
12.5.2. Pervasive
12.5.3. Emerging Leader
12.5.4. Participant
12.6. Strategic Analysis Heatmap Analysis
12.7. Key Developments and Growth Strategies
12.7.1. Mergers and Acquisitions
12.7.2. New Product Launch
12.7.3. Joint Ventures
12.7.4. Others

 

13. Company Profiles


13.1. Schaeffler Group
13.1.1. Business Description
13.1.2. Financial Health and Budget Allocation
13.1.3. Product Positions/Portfolio
13.1.4. Recent Development
13.1.5. SWOT Analysis
13.2. SKF Group
13.3. NSK Ltd.
13.4. Timken Company
13.5. NTN Corporation
13.6. Schaeffler Technologies AG & Co. KG
13.7. Regal Beloit Corporation
13.8. JTEKT Corporation
13.9. ZKL Group
13.10. C&U Group
Fill the given form to inquiry before buying for Global Wind Turbine Bearing Market Size, Share, Trends, Industry Growth by Type (Slewing Ring Bearings, Spherical Roller Bearings), by Application (On-shore, Off-shore), by Sales Channel, by Region, and Forecast to 2030 Market Report

(Additional country analysis and conmapny analysis will be added according to the request, we provide free report customization)
(Report covers the impact of COVID-19 on the market)

Request Report Sample
Inquiry Before Buying


Select License Type
$ 3600/- Single User License
$ 4800/- Multi User License
$ 6800/- Corporate License

Paypal Certified Payment
Why To Choose Us:
  • Markets in over 100+ countries analyzed granularly
  • 35% of our total client are returning clients
  • 1000+ customers globally
  • 100+ paid data sources mined to bring cutting-edge insights
  • 24x5 availability - we are always there when you need us
  • "Free of Cost Report Customization" is available
  • Request a regional report at Best Price
  • Our expert team will assist you with all research need and customization
  • Our expert research analysts will resolve your every query before and after purchasing the report

Impacts of COVID-19
COVID-19 Impact on the Global Wind Turbine Bearing Market Size, Share, Trends, Industry Growth by Type (Slewing Ring Bearings, Spherical Roller Bearings), by Application (On-shore, Off-shore), by Sales Channel, by Region, and Forecast to 2030 Market


Our Clients