Direct Drive Wind Turbine Market Scope
The global direct drive wind turbine market 2020 is on track to achieve a growth rate of approximately 11.5% between 2016 and 2022 (forecast period), say experts at Market Research Future (MRFR). Gearboxes are considered to be the weakest link is wind turbines, and its elimination is presumed to increase the life span of the wind turbines. This, in turn, is expected to facilitate the expansion of the direct drive wind turbine market in the coming years. Also, the requirement for oil cooling is eliminated in direct drive wind turbines. It avoids the possibility of environmental pollution. This, in turn, is expected to catalyze the growth rate of the direct drive wind turbine market in the forthcoming years.
Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/2465
Market Boosters and Key Restraints
Wind turbine manufacturers are putting in intense efforts to explore ways that can make direct-drive wind turbines more efficient with gearbox-operated wind turbines. Direct drive wind turbines have gained massive significance owing to their design, which is quite simple compared to the gearbox technology, facilitating easier operation as well as maintenance. The appealing design has made direct drive extremely favorable for offshore applications.
Exhausting fossil fuel reserves, mounting environmental sensitivity, reduced cost of wind power generation and strong financial backing from governments across the globe are anticipated to significantly boost the growth of the direct drive wind turbine market in the following years.
However, wind farms are quite capital-intensive that require sizeable investments. Such projects can be financed only by investment groups and large utilities, which can negatively impact the market in the coming years. On the bright side, increase in the research and development (R&D) initiatives in the direct drive wind turbine field has led to highly advanced installation techniques as well as cost-effective turbine design that can significantly bring down the initial investment required for these projects.
Direct Drive Wind Turbine Market Segmentation
The direct-drive wind turbine industry has been evaluated by MRFR experts depending on the primary segments like capacity and technology.
The capacity-wise sub-segments are less than 1MW, 1MW to 3MW, and more than 3MW.
The segments depending on technology include electrically excited synchronous generator as well as permanent magnet synchronous generator. The permanent magnet synchronous generator technology can note highly robust significant growth over the appraisal period on account of the soaring number of offshore activities across the world.
Regional Insight
MRFR offers an in-depth regional insight into the global direct drive wind turbine market, following the study of all the latest trends as well as growth opportunities across Asia Pacific (APAC), North America, Europe, and the Rest of the World (RoW).
Europe’s impressive streak of using renewable energy sources continues to escalate, which gives it an edge in the market for direct drive wind turbine. Europe has climbed the global ladder to secure the top position and can maintain its lead throughout the review period. The market benefits from the considerable contribution from developed countries like the United Kingdom (U.K), France, Ireland and Spain, as well as the favorable government regulations.
APAC, with the second-most profitable market, benefits from the rising adoption of gearless wind turbines in emerging countries like India and China, given the mounting energy requirements. The regional also notes strong market growth as a result of the increasing capacity additions to the number of market participants. Increasing awareness about renewable energy also fosters market growth in the region. India has the fourth-biggest wind power installed capacity in the world, with most of these projects spread in the southern, western and northern parts of the country. This adds to the market strength in the region.
MRFR deems North America as a highly lucrative market, thanks to the expansive installation base as well as revenues. Continuous technological advancements, product innovation along with mergers and acquisition among well-known vendors bode well with the regional market growth. Accelerated demand for low-cost, renewable sources of energy also boosts the market demand in North America.
Top Companies
Top companies working on achieving a better position in the direct drive wind turbines market include Siemens AG (Germany), American Superconductor Corporation (U.S.), Xiangtan Electric Manufacturing Group (China), VENSYS Energy AG (Germany), ENERCON GmbH (Germany), Emergya Wind Technologies B.V. (The Netherlands), Windtronics LLC (U.S.), Leitwind AG (Italy), Goldwind Science & Technology Co. Ltd. (China),
Get Full Report at: https://www.marketresearchfuture.com/reports/direct-drive-wind-turbine-market-2465
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/direct-drive-wind-turbine-market-2465