Global Direct Drive Wind Turbine Market to Rise at the Robust 16.2% CAGR, Predicted to Surpass US$ 18.3 Billion by 2032 | FMI

Direct Drive Wind Turbine Market

Approaching 2022, the direct drive wind turbine market is poised to attain a substantial valuation of over US$ 14.6 billion. However, the true narrative unfolds in the forecast for the next decade. With an astonishing Compound Annual Growth Rate (CAGR) of 16.2% from 2022 to 2032, this market is on a trajectory to soar to a staggering US$ 18.3 billion by 2032.

At the core of this impressive growth are direct-drive wind turbines, heralding a paradigm shift in wind energy technology. Defined by their low-speed generators, this innovative feature eliminates the need for a gearbox in the turbine’s drivetrain. Such advancements bring a multitude of benefits to the renewable energy industry, rendering direct-drive turbines increasingly appealing to both investors and the broader community.

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The imperative to decrease noise levels, enhance torque at low RPM, and improve surge efficiency is poised to drive the demand for direct drive wind turbines in the foreseeable future.

Direct drive wind turbines function as low-speed generators, negating the need for gearboxes in the turbine’s drivetrain. This advantage positions direct drive turbines as a more favorable option compared to conventional turbines. As a result of these favorable attributes, the market for direct drive wind turbines is predicted to experience growth throughout the projected period.

Key Insights:

  • The increasing demand for direct drive wind turbines in offshore applications, particularly due to their lightweight nature and high reliability, is projected to drive the market’s growth.
  • Favorable government regulations and the frequent occurrence of gearbox failures are pivotal factors contributing to the market’s expansion. Additionally, the advantages of lower maintenance costs and lightweight design are expected to further propel market growth.
  • Leading wind turbine manufacturers’ emphasis on developing higher power-rated turbines for offshore use is expected to positively impact the market. The advantages of direct drive wind turbines, including enhanced reliability and reduced maintenance, are poised to stimulate market growth.
  • The global surge in energy demand plays a significant role in driving the direct drive wind turbine market forward. Rapid industrialization worldwide is also anticipated to foster market growth.
  • Stringent government mandates for energy efficiency and the increasing share of renewables in power generation are set to boost the market. The introduction of innovative technologies like 3D printing and floating wind turbines opens doors to substantial growth opportunities for the direct drive wind turbine market.
  • Ongoing integration of novel technologies into turbines is predicted to enable predictive maintenance and advanced condition monitoring. This integration is expected to lead to decreased maintenance and operational costs, as well as improved efficiency.

Market Competition:

The competitive landscape of the global direct drive wind turbine market includes significant players such as 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, as detailed in the comprehensive report.

The market exhibits a diverse mix of both small- and large-scale companies, contributing to a moderately fragmented structure. Leading entities are strategically engaging in mergers and acquisitions with startups to expand their customer base. Simultaneously, others are focusing on innovation to diversify their product offerings and enhance competitiveness against their industry counterparts.

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Key Market Segmentation:

By Capacity:

  • Less than 1MW
  • 1MW to 3MW
  • More than 3MW

By Technology:

  • Permanent Magnet Synchronous Generator
  • Electrically Excited Synchronous Generator

By Application:

  • Offshore
  • Onshore

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • APEJ
  • Japan
  • Middle East and Africa

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Author:

Nikhil Kaitwade is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Nikhil is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.

He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

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