PUNE, India, March 12, 2020 (GLOBE NEWSWIRE) -- The direct drive wind turbine is defined as a mechanism where the power is directly transferred from the motor without any reductions, with no need for a gearbox. Market Research Future (MRFR) has published a research report about the global direct drive wind turbine market that calculates raise for this market at 11.5% CAGR (Compound Annual Growth Rate) during the forecast period between 2017 and 2022.
Analyzing the market structure, this report evaluates the future growth potential of the market. It assesses the strategies of the key players in the market and supports the competitive developments like joint ventures, new product developments, mergers & acquisitions, research and developments (R&D) in the market.
The most important factor shaping the direct drive wind turbine market growth is a range of advantages that include higher torque with low rpm, increased efficiency, and reduced noise. Other factors, carrying out the growth of this market include depleting fossil fuel reserves, favorable government policies, increasing greenhouse gas emission, increasing significance of renewable energy sources, growing concern for energy conservation, and rising demand for energy.
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The global direct drive wind turbine market has been segmented on the basis of capacity, technology, and lastly, region. Based on capacity, this market has been segmented into less than 1 mega watt (MW), 1MW to 3MW, and more than 3MW. The technology-based segmentation segments the market into an electrically excited synchronous generator and permanent magnet synchronous generator. During the forecast period, the permanent magnet synchronous generator technology is expected to experience significant growth due to the increase in offshore activities.
The regional segmentation of the global direct drive wind turbine market segments the market into the regional markets known as North America, Asia Pacific, Europe, and rest of the world (RoW). Europe is the largest regional market that is expected to expected to retain its position during the forecast period due to its efficient utilization of renewable energy sources used. Many key market players are also operating in European countries. Other factors contributing to the market growth are favorable government regulations and the massive revenue contribution from countries such as France, Ireland, Spain, and the UK, followed by the remaining countries of Europe.
The second most important regional market is the Asia Pacific region because the adoption of gearless wind turbines is increasing in the emerging economies like China and India due to the growing energy needs in the region. In this region, the market is growing due to continuous capacity additions to the existing industry participants. The increased awareness of renewable energy usage is also contributing to the market growth. Other factors leading to the market growth in this region are increasing the number of plant managers focussing on enhancing operational efficiency, and therefore, resulting in the reduction of maintenance costs. Other important country-specific markets in this region include Japan and South Korea, followed by the remaining countries of the Asia Pacific region.
In North America, the market is strong due to the presence of established industries, the government encouraging the use of eco-friendly technology, and the presence of many key market players. The key country-specific markets in this region are the USA, Canada, and Mexico, followed by the remaining countries in North America.
Key Players
The key players in the global direct drive wind turbine market include American Superconductor Corporation (USA), Emergya Wind Technologies B.V. (The Netherlands), ENERCON GmbH (Germany), General Electrics Renewable Energy (USA), Goldwind Science & Technology Co. Ltd. (China), Leitwind AG (Italy), Siemens AG (Germany), VENSYS Energy AG (Germany), Windtronics LLC (USA), and Xiangtan Electric Manufacturing Group (China).
Latest Industry News
- Brazilian electrical equipment manufacturer WEG SA has acquired the Energy Storage System (ESS) business of US-based Northern Power Systems Corp. 13 FEB 2019
- On the basis of Siemens Gamesa Renewable Energy (SGRE) Offshore Direct-Drive wind-turbine platform, the new SG 8.0-167 DD offshore turbine variant can meet the full range of technical conditions present in waters along the U.S. coasts and in the Great Lakes. The new variant has been tailored for US market conditions. 16 OCT 2018
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Global Direct Drive Wind Turbine Market by Capacity (Less than 1MW, 1MW to 3MW, More than 3MW), by Technology (Electrically Excited Synchronous Generator and Permanent Magnet Synchronous Generator), by Region (Asia-Pacific, North America, Europe, Rest of World) - Forecast to 2022
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