The global direct drive wind turbine market size is anticipated to be valued at USD 18.3 Billion in 2032 and exhibit an astonishing CAGR of 16.2% from 2022 to 2032. It is set to surpass USD 14.6 Billion in 2022. The urgent need to reduce noise, surge efficiency, and generate higher torque with low RPM is expected to boost the sales of direct drive wind turbines in the assessment period.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 13.4 Billion |
| Expected Market Value (2022) | USD 14.6 Billion |
| Anticipated Forecast Value (2032) | USD 18.3 Billion |
| Projected Growth Rate (2022 to 2032) | 16.2% CAGR |
Direct-drive wind turbines are considered to be low-speed generators that are capable of eliminating the requirement of a gearbox from the drivetrain of turbines. These have several benefits, including relatively low maintenance costs, and are lightweight, as compared to traditional turbines. The frequent replacement of the gearbox is eliminated with the usage of these turbines.
The surging demand for permanent magnet-type generators in offshore applications owing to their high reliability and lightweight nature is expected to propel the demand for direct-drive wind turbines in the near future. Favorable government norms and frequent gearbox failure are a couple of other driving factors in this market.
Direct-drive wind turbines deliver reduced maintenance, and higher reliability because of fewer parts, and a simple drivetrain. The rising focus of multiple wind turbine manufacturers on the production of new turbines with higher power ratings for usage in offshore applications is likely to bode well for the market.
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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.
The ongoing integration of novel technologies in these turbines is expected to enable predictive maintenance and advanced condition monitoring. It is expected to further lead to reduced maintenance and operational costs, as well as surging efficiency.
Even though direct-drive wind turbines have various advantages, their sheer physical size can often lead to mechanical constraints. In turbines with 8 to 10 MW rating, the generator becomes heavier and its size also increases because of high torque requirements.
Multiple design limitations, such as inadequate bearing requirements, manufacturing intolerances, and low material strength may occur in these turbines. Thus, many companies working with very large generators are likely to prefer single-stage gearboxes, rather than direct drive. In addition, the high cost of these turbines can hamper the global drive wind turbine market growth in the evaluation period.
Asia Pacific is anticipated to generate the largest drive wind turbine market share in the near future. The high installed capacity in China is set to be the major factor that would accelerate the market. Various government incentives and policies have made the country a vital hotspot for investment.
India is also expected to contribute to the growth of this market. According to the Ministry of New and Renewable Energy, at present, the country houses the fourth largest wind installed capacity across the globe. As of March 2021, it has a total installed capacity of about 39.25 GW and from 2020 to 2021, it has generated nearly 60.149 billion units. These numbers are projected to surge throughout the forecast period, thereby pushing the market in Asia Pacific.
The presence of various key manufacturers, rising government support to encourage the adoption of eco-friendly technology, and the entry of established firms in the USA are estimated to accelerate the sales of direct drive wind turbines in North America. The rising focus of multiple USA-based plant managers on the improvement of operational efficiency is anticipated to drive the market.
The high affordability of direct-drive wind turbines is leading to their increasing demand from offshore farms in the USA These are capable of eliminating significant problems, such as ecosystem damage and noise pollution, which are often caused by windmills. Spurred by the above-mentioned factors, the market in North America is expected to grow at a rapid pace.
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Some of the prominent companies present in the global drive wind turbine market include 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, and Bachmann electronic GmbH among others.
The global market is moderately fragmented backed by the presence of various small- and large-scale companies. The majority of the leading companies are aiming to attract more customers by participating in mergers and acquisitions with start-up companies. A few other players are focusing on introducing innovative products to expand their existing product portfolios and compete with their rivals.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 16.2% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Capacity, Technology, Application, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Argentina, Germany, United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | 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 |
| Customization | Available Upon Request |
The global drive wind turbine market is likely to surpass USD 14.6 Billion by 2022.
Asia Pacific is expected to generate the largest share in the drive wind turbine market.
ReGen Powertech Pvt. Ltd., ABB Ltd., Northern Power System, Goldwind Science & Technology Co. Ltd., Siemens Gamesa Renewable Energy SA, and M. Torres Olvega Industrial are some of the renowned players in the global drive wind turbine market.
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