The market for direct-drive wind turbines is projected to reach a value of US$ 18.3 billion in 2032 and grow at an astounding CAGR of 16.2% between 2022 and 2032. In 2022, it’s expected to surpass USD 14.6 billion. Sales of direct-drive wind turbines are anticipated to increase during the assessment period as a result of the pressing need to reduce noise, increase efficiency, and produce more torque at low RPM.
Direct-drive wind turbines are regarded as low-speed generators that can replace the need for a gearbox in a turbine’s drivetrain. When compared to conventional turbines, these have several advantages, including relatively low maintenance costs and being lightweight. The use of these turbines eliminates the need for frequent gearbox replacement.
Direct drive wind turbine demand is anticipated to increase quickly due to the rising demand for permanent magnet-type generators in offshore applications due to their high reliability and lightweight design. Other market drivers include frequent gearbox failure and favorable government regulations.
The high demand for energy across the globe is a significant factor that is anticipated to propel the direct drive wind turbines market share in the forthcoming years. Rapid industrialization, favorable regulations on energy efficiency, and a high share of renewables in the power generation sector are likely to augment the market.
Rapid technological advancements, such as 3D printing, floating wind turbines, and high-capacity wind turbines are likely to reduce the cost of offshore wind power. These are also set to create new growth opportunities for various companies that are striving to open new offshore locations which were previously inaccessible because of the lack of technology and investment.
Shortly, the market share for drive wind turbines is expected to be dominated by the Asia Pacific. The main factor accelerating the market is expected to be China’s high installed capacity. The nation has become a significant investment hotspot as a result of numerous government incentives and policies.
India is also anticipated to help this market expand. The Ministry of New and Renewable Energy reports that the nation currently has the fourth-largest installed wind capacity worldwide. Its installed capacity was approximately 39.25 GW as of March 2021, and between 2020 and 2021, it produced nearly 60.149 billion units. Throughout the forecast period, these numbers are anticipated to soar, driving the market.
Direct drive wind turbine sales are expected to increase in North America as a result of the entry of established companies, the presence of several key manufacturers, and growing government support for the adoption of eco-friendly technology. The market is expected to be driven by the increasing attention that many plant managers in the United States are paying to the enhancement of operational efficiency.
Key Players:
- ReGen Powertech Pvt. Ltd.
- ABB Ltd.
- Northern Power System
- Goldwind Science & Technology Co. Ltd.
- Siemens Gamesa Renewable Energy SA
- M. Torres Olvega Industrial
- Emergya Wind Technologies B.V.
- Rockwell Automation Inc.
- Enercon GmbH
- Avantis Energy Group
- Bachmann electronic GmbH
