Direct
Drive Wind Turbine Market Highlights
The depletion of fossil fuel
reserves has an alarming effect on the environment due to which the alternative
renewable sources has gained immense importance. The wind energy is one of the
cheapest renewable energy sources. So power generation from wind energy is done
by harnessing the energy from the wind and is used to generate electricity from
the harnessed power.
Governments across the globe are
trying to promote green and clean energy usage. The availability of financial
subsidies from governments is expected to drive the market. However, huge
initial investments and shortage of skilled labor are the major restraints for
the market growth.
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Governments across the globe are
realizing the potential and long-term benefits of using the wind energy.
Favorable policies are introduced by the governments to help establish and sustain wind power
against cheaper alternatives. This would improve the growth of the wind energy
sector, thus marking immense potential for growth of the global direct drive
wind turbine market. The growing concern for energy conservation with
drastically increasing population can also be attributed to the growth of
global direct drive wind power market.
Segmentation
Based on capacities, the market is segmented as less
than 1MW, 1MW to 3MW and more than 3MW. In which, the 1MW to 3MW segment is
projected to drive the market.
Based on technologies, the market is segmented as
electrically excited synchronous generator and permanent magnet synchronous
generator, with the latter being projected to account for the largest market
share due to its light weight feature and offshore application.
Among regions, Europe is expected to dominate the
global direct drive wind turbine market with the
highest CAGR owing to
increased investments in wind energy sector.
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Key
Players
The key players of the global direct drive wind
turbine market are GE Renewable Energy (U.S.), Siemens AG (Germany), Goldwind
Science & Technology Co. Ltd. (China), Leitwind AG (Italy), ENERCON GmbH
(Germany), Xiangtan Electric Manufacturing Group (China), Emergya Wind
Technologies B.V (The Netherlands), VENSYS Energy AG (Germany), Windtronics LLC
(U.S.) and American Superconductor Corporation (U.S.).
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.
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.
Scope
of the Report
This study provides an overview of the global direct
drive wind turbine market, tracking two market segments across four geographic
regions. The report studies key players, providing a five-year annual trend
analysis that highlights market size, volume and share for Asia-Pacific, North
America, Europe and Rest of the World (ROW). The report also provides a
forecast, focusing on the market opportunities for the next five years for each
region. The scope of the study segments the global direct drive wind turbine
market by its capacity, technology and region.
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