Over the past five years, the compound growth rate of the company's wind energy business revenue has reached 17%, more than twice the growth rate of the industry


Timken recently announced that in the past five years, the company's business for wind energy industry customers has achieved a leading growth rate in the industry. During this period, Timken's compound annual growth rate in the wind energy market reached 17%, far exceeding the industry wide estimated level of 7%. The continuous growth of wind energy industry promotes the global market demand for related equipment and services. To this end, Timken Company is ready to further expand investment. The company expects that the revenue related to wind energy business will reach a new high in 2021, and has the favorable conditions to achieve long-term success in this market field.



Andreas roelgen, vice president of Timken's Europe, Asia and Africa business, said: "with the increasing global demand for renewable energy, customers' success will depend on the design of larger, more powerful and more efficient wind power generation equipment. As wind turbine manufacturers continue to break through performance limits, it becomes more complex to design and manufacture bearings for them. For a long time, Timken has continued to solve technical problems and carry out engineering innovation for the most challenging application fields in the world, which is also a great advantage for our customers in the wind energy industry. "


Timken's engineering bearings and lubrication systems can effectively help improve the operation efficiency of fans in the process of power generation. At the same time, the company's maintenance service can also maximize the fan performance in the bearing life cycle.


Thanks to the rapid growth of global wind energy market in 2020, Timken has expanded its business in gearbox and spindle. Fan manufacturers began to build larger and more powerful fans, and the design of the main shaft of the fan increasingly relies on tapered roller bearings to carry more load. These trends will continue to benefit the company's future development. The fact that Timken recently joined hands with a leading engine manufacturer to design and manufacture bearings for the world's largest and most powerful fans fully reflects Timken's leading position in the industry.



Since entering the wind energy market 15 years ago, Timken has become an industry technology leader and a major technical partner of wind turbine and gearbox manufacturers, providing customers with a full range of engineering solutions to meet the stringent work cycle requirements of relevant application fields. Through the collaborative technology sales model, the company cooperates with customers to understand their most important success factors and key challenges. This mature and reliable method has achieved remarkable results in the rapidly developing wind energy market, which enables Timken to develop design schemes for new models in time and provide upgrading schemes for old models with backward performance. In view of the increasing installed capacity of the wind energy industry, and the fact that the wind turbines usually need to be overhauled in 10 to 15 years, Timken has been fully deployed to meet not only the demand for new equipment, but also the growing demand for maintenance, repair and overhaul services.


"For wind turbine operators, downtime and maintenance can mean huge costs, and our wind energy solutions can meet customers' needs to optimize reliability, cost and performance," roelgen said


For example, to extend the service life of bearings in fan spindle applications, Timken has developed a thin film coating technology that improves surface hardness and wear resistance while reducing friction. Use this upgraded version of Timken with a wear-resistant coating ® The replacement of conventional spindle bearings with bearings can help wind turbine operators to reduce maintenance costs in the life cycle of wind turbines.


It is expected that the market share of renewable energy power generation will double by 2030. In this process, Timken will continue to make targeted investments to support future growth, including $75 million to increase the capacity of renewable energy products worldwide by the beginning of 2022. In 2020, the renewable energy market business contributed 12% of the company's total sales, becoming Timken's largest single end market. Additional investment in wind energy will further increase production capacity for increasingly efficient and advanced large-scale product manufacturing.