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.
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.
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.).
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Industry
Segmentation
The report has analyzed the market based on capacities, technologies and
regions. Based on capacities, the market is segmented as less than 1MW, 1MW to
3MW and more than 3MW. Among the three, the 1 MW to 3 MW segment dominates the
market with the highest share. Based on technologies, the market is further
bifurcated as electrically excited synchronous generator and permanent magnet
synchronous generator. With the increase in offshore activities, PMSG
technology is expected to experience high growth during the forecast
period. Europe, of all regions, has the
largest market share based due to forefront investment countries such as Spain,
U.K., Germany, Ireland and France. The global direct drive wind turbine market
is expected to cross USD XX Billion Mark by the end of forecast period and is
expected to grow approximately at 11.5% CAGR from 2016 to 2022.
Regional
Outlook
Europe dominates the market and expected to grow approximately at XX%
CAGR during the forecast period. The favorable governments regulations has
resulted in increased investments in wind energy in the region.
Asia-Pacific is another lucrative market which is experiencing a rapid
adoption of gearless wind turbines, especially from emerging economies in the
region such as China and India.
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