Published on : Jan 30, 2017
ALBANY, New York, January 30, 2017: The report presents a complete picture of the direct drive wind turbine market worldwide, which is key to understanding the current market trends, opportunities, challenges, and growth drivers therein. Owing to the growing popularity of clean, renewable energy sources, the global market for direct drive wind turbines is projected to grow at a conducive CAGR of 11% by the end of 2021.
The report furnishes the key factors associated with the direct drive wind turbine market, such as the market size, market drivers and threats, major developments, detailed profiles of major vendors, along with the results of the five forces analysis. The regional segments have been analyzed in terms of installed wind power capacity and share held by each market, together with key insights on the gainful opportunities presented by them.
Numerous advantages are offered by the wind turbine direct train technology, which has replaced the traditional turbines on account of their relative efficiency. Unlike conventional turbines, the direct drive turbines require neither a gearbox nor too many moving parts as is the case with geared drive trains. These factors have been boosting the demand for direct drive wind turbines. Furthermore, extensive R&D practices coupled with technological breakthroughs will definitely have a positive impact on the global direct drive wind turbine market. On the contrary, the emergence of airborne wind turbines will pose a major threat to the global market for direct drive wind turbines.
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The generation and usage of wind energy is being promoted by governments through their beneficial policies, which will prove to be profitable a trend in this market. The provision of feed-in tariffs (FITs) has also been observed to be one of the key trends in several countries with wind power installations. Auctions have been in vogue of late and have been instrumental in invoking a sense of healthy competition between the key market vendors. Larger investments in infrastructures that will connect wind power to the grid is expected to augment growth opportunities.
On the basis of application, the market for direct drive wind turbines is broadly classified into onshore and offshore applications. The requirement of lower levels of capital investment in comparison with offshore installations have put the onshore application segment at the foremost position. Based on geography, the key market segments include APAC, the Americas, and EMEA. During the forecast period, APAC is to lead the market, suggest analysts. This is on account of the towering energy demands of the highly populated countries such as India and China, where an increasing rate of adoption, backed by government aid are driving the market.
The leading companies in the direct drive wind turbine market are Goldwind Science and Technology, ENERCON, VENSYS Energy, Siemens, and GE Renewable Energy. Other major vendors include ReGen Powertech, ABB, XEMC Windpower, Mervento, AVANTIS Energy, Qingdao Hengfeng Wind Power Generator, Foshan Ouyad Electronic, Leitner AG, Qingdao Richuan Precision Machinery, Bora Energy, and Anhui Hummer Dynamo.
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