The Timken Co., a provider of engineered bearings and power transmission products, says it has achieved robust growth in service to wind energy customers over the last five years.
During this period, Timken says it significantly outgrew the market sector by registering a compound annual growth rate (CAGR) of 17%, compared to an estimated 7% CAGR for the industry as a whole. Timken says it is poised to capitalize further as global demand for equipment and services for the wind energy sector continues to increase. The company anticipates another record year for wind-related revenue and notes it remains well-positioned to succeed in this market sector.
“With global demand on the rise for renewable energy sources, our customers’ success depends on designing larger, more powerful and efficient wind turbines,” says Andreas Roellgen, vice president of Europe, Asia and Africa at Timken. “As wind turbine manufacturers continue to push the limits on performance, designing and manufacturing bearings for them is increasing in complexity. Timken’s long history of technical problem solving and engineering continues to be a significant advantage for our customers in the wind energy industry.”
Timken products, such as engineered bearings and lubrication systems, are designed to help wind turbines operate with greater efficiency in producing power. The company increased its presence in both gear drive and main shaft equipment as the global wind energy market sector experienced rapid growth in 2020. Additionally, the company’s maintenance services help maximize turbine performance over its lifetime. Ongoing trends – such as OEMs building larger turbines that generate more power and turbine main shaft designs that increasingly rely on tapered roller bearings to take on additional loading – continue to favor the company going forward.
To help increase the service life of bearings in wind turbine main shaft applications, Timken developed a thin-film coating that simultaneously increases surface hardness and wear resistance while reducing friction. Replacing main shaft bearings with upgraded Timken bearings with wear-resistant coatings can help wind operators reduce maintenance costs over the turbine lifecycle.