Direct Drive Wind Turbine Market Synopsis:
Direct Drive Wind Turbine Market share is expected to reach 10,785 Million by 2027, with a CAGR of 11.5% during the forecast period 2022-2027. The wind being one of the cleanest sources of power generation, is used to generate electricity by wind turbines. Increasing demand for renewable energy across the globe has majorly attributed to the growth of the direct drive wind turbine market. Moreover, depleting fossil fuel reserves, increasing environmental sensitivity, low cost of wind power generation and financial support from governments across the globe all have a knock-on effect on the global market size.
However, the only issue the market faces is the fact that the initial capital investments are on the higher side. But on the other hand, major revolutions have taken place in the recent years towards the turbine design and installation techniques, which have considerably reduced the initial capital investment cost to a fairly reasonable extent. This factor can have a positive knock-on effect on the market in the coming years.
Key Players
The key players in the global direct drive wind turbines market are Xiangtan Electric Manufacturing Group (China), Emergya Wind Technologies B.V. (The Netherlands), Siemens AG (Germany), Goldwind Science & Technology Co. Ltd. (China), Leitwind AG (Italy), ENERCON GmbH (Germany), VENSYS Energy AG (Germany), Windtronics LLC (U.S.) and American Superconductor Corporation (U.S.) and others.
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Market Segmentation
The global direct drive wind turbine market is segmented on the basis of capacity, technology and region.
The capacity is sub-segmented into less than 1MW, 1MW to 3MW, and more than 3MW. While on the basis of technology, the market is segmented on the basis of electrically excited synchronous generator and permanent magnet synchronous generator. The permanent magnet synchronous generator technology is anticipated to experience a significant growth over the forecast period due to the increase in offshore activities.
Regional Analysis
The global market for direct drive wind turbines is geographically spread across Asia-Pacific, North America, Europe, and the Rest of World.
Globally, Europe has secured the top position and is predicted to retain its position throughout the forecast period due to its impressive streak of renewable energy sources usage. Moreover, the massive contribution from countries such as Spain, United Kingdom (U.K), France and Ireland combined with favorable government regulations has buoyed the market growth in the region.
The growth in Europe market is followed by Asia-Pacific owing to the adoption of gearless wind turbines in the emerging economies such as China and India with growing energy needs in the region. Furthermore, the region observes market growth on account of continuous capacity additions to the existing industry participants. Also, increased awareness of renewable energy usage serves to propel the market growth. in addition, large number of plant managers focus on enhancing operational efficiency and reducing maintenance costs, which directly triggers the market growth in the region.
MRFR reports that the North America market is highly lucrative on account of installation base and revenues. Constant technological advancements, product development and mergers and acquisition among well-established market players bode well with the market growth in the region. Increasing demand for low-cost, renewable source of energy is one of the major factors fueling the market growth as well.
Industry Development
Siemens Gamesa Renewable Energy SA has recently confirmed that it has received a 235-MW wind turbine supply order for the Overturingen project in Sweden. The company will deliver, install and service 56 units of the SWT-DD-130 direct-drive wind turbine of 4.2 MW each, on a 155-metre hub height tower. The wind turbine will be built at a site in Ange community, situated between the cities of Sundsvall and Ostersund.
