Product category:
Motors and Variable speed drives
News Release from: IMS Research | Subject: Market for planetary gears
Edited by the Processingtalk Editorial
Team on 15 November 2006
Energy fuelling demand for planetary
gears
The EMEA and Americas markets for planetary gearboxes are forecast to experience an annual growth of almost 8% by 2009, reaching US$1,812 million and US$459 million respectively
The EMEA and Americas markets for planetary gearboxes are forecast to experience an annual growth of almost 8% by 2009, reaching US$1,812 million and US$459 million respectively One of the main drivers for this growth is the increasing demand within the wind energy sector for high torque planetary gearboxes used in wind turbines
This article was originally published on Processingtalk on 12 Nov 2003 at 8.00am (UK)
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This increase in demand is the direct result of the recent high levels of investment into this sector as an alternative energy source to oil, fuelled by rising oil prices and sustained concerns for global warming.
The energy sector, of which wind energy is a significant proportion, accounted for over 40% of the total EMEA planetary gearbox market, and over a quarter of the Americas planetary market in 2005.
Whilst EMEA has been steadily building up a large installed wind turbine capacity for over 20 years, comparable levels of investment have been more recent in the Americas, catalysed by increasing international demand for oil and rising energy costs.
This has resulted in a smaller market for these products in America.
Market Analyst Rob Carter commented "continued financial incentives provided by the 2001 EU Directive on the promotion of electricity from renewable energy sources for Europe, and America's wind energy production tax credit, will encourage further investment in the wind energy sector over the next few years as these regions strive to meet green energy targets.
This is expected to result in the high torque planetary gearbox market growing annually by around ten percent in both regions.".
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