The global direct drive wind turbine market size is projected to expand at a CAGR of 11% during the forecast period. Growth of the market is attributed to rising industrialization and rapid urbanization in emerging economies.
The major wind power plant operators have begun to switch from conventional gearbox systems to direct drive systems as they are lighter and cost-effective than conventional wind turbines. As it does not contain a gearbox, it reduces weight and eliminates gearbox maintenance issues. The direct drive system eliminates the problems related to gearbox failure.
The report on the global direct drive wind turbine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Direct Drive Wind Turbine Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2021 |
Historic Data |
2019–2020 |
Forecast Period |
2021–2028 |
Segmentation |
Capacity (Less than 1MW, 1 MW- 3 MW, and Greater than 3 MW) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
ABB Ltd.; Siemens Gamesa Renewable Energy SA; Rockwell Automation Inc.; Bachmann electronic GmbH; Avantis Energy Group; Goldwind Science & Technology Co. Ltd.; and Emergya Wind Technologies B.V. |
Based on capacities, the market is segmented into less than 1MW, 1 MW- 3 MW, and Greater than 3 MW. The 1 MW- 3MW segment accounted for a significant market share and is expected to exhibit a high CAGR during the forecast period. Increasing investment of government and private organizations for the development of wind turbines is fostering the growth of the market segment.
In terms of regions, the global direct drive wind turbine market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. According to IRENA, Asia Pacific is on track to become the world's largest wind market by 2050, with more than half of onshore and offshore wind projects. By 2050, Asia's onshore wind capacity is expected to increase from 256 GW in 2018 to over 2,600 GW by 2050. Furthermore, Asia Pacific is anticipated to dominate the market due to huge investments in nations such as China and India, and Taiwan. China-based manufacturers account for roughly 95% of the global wind energy market. China has been a preferred investment for emerging players owing to government policies and incentives.
India has the world's fourth-largest installed wind power capacity. These projects are primarily located in the country's northern, southern, and western regions. The Government of India has set a target of 60 GW by 2022, and in order to meet that goal, the number of projects is projected to grow rapidly in the next years. The market in Asia Pacific is anticipated to expand at a CAGR of at least 15% during the forecast period.
Segments Covered in the Report
The global direct drive wind turbine market is segmented on the basis of
Capacity
Regions
Key Players
The major players in the direct drive wind turbine market include ABB Ltd., Siemens Gamesa Renewable Energy SA, Rockwell Automation Inc, Bachmann electronic GmbH, Avantis Energy Group, Goldwind Science & Technology Co. Ltd., Emergya Wind Technologies B.V.
Companies are engaging in mergers, acquisitions and partnerships to expand their market share. Participants in the industry are expected to concentrate on the development of direct drive technologies that are more efficient, flexible, and reliable.
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