Direct drive wind turbine market size to grow by USD 61.68 billion between 2022 and 2027; Growth driven by the favorable government policies for wind energy - Technavio

NEW YORK, April 19, 2023 /PRNewswire/ -- The direct drive wind turbine market size is set to grow by USD 61.68 billion from 2022 to 2027, progressing at a CAGR of 15.63% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is driven by favorable government policies for wind energy. Governments across the globe have started encouraging wind power generation by implementing favorable policies in the wind energy market because of the long-term benefits of wind energy. Moreover, the governments of various countries also provide purchase incentives. For instance, in 2008, the US Department of Energy implemented a policy called 20% of Wind Energy by 2030. It states that wind power can grow to provide 20% of the total electricity supply in the US. This policy helps in local economic development, reducing pollution and water consumption and saving consumers money. Such factors will increase market growth during the forecast period. Here is an exclusive report about market scenarios with a historical period (2017-2021) and forecast period (2023-2027). Download a Sample Report!

The direct drive wind turbine market covers the following areas:

Direct drive wind turbine market Sizing
Direct drive wind turbine market Forecast
Direct drive wind turbine market Analysis

Direct drive wind turbine market 2023-2027 - Market Dynamics

Trends

The rising number of offshore wind farm installations is a key trend in the market. Factors such as the demand for the installation of clean and sustainable energy sources increased around the world will increase the demand for offshore wind projects. Moreover, Offshore wind farms can have huge turbines, so fewer turbines can produce more power. For instance, In July 2022, the Government of India announced its Offshore Wind Power Development Strategy through its Offshore Wind Power Development Strategy Paper. Hence, increasing focus on offshore wind farms will boost the demand for direct drive wind turbines, which will bring the market to the fore during the forecast period.

Challenge

The intermittent nature of wind energy is challenging the direct drive wind turbine market growth. The intermittent nature of wind energy affects power generation depending on various factors such as changes in geographic location, weather conditions, and time of day. It also causes output fluctuations, unplanned outages, and outages in production that are uncontrollable and insurmountable. Therefore, the intermittent nature of the wind will require a backup power source to always meet power demands. As a result, the effective utilization of wind energy is highly dependent on auxiliary systems based on effective energy storage, demand response, grid modification, and effective power regulation. Such factors will hinder the market growth during the forecast period.

Direct drive wind turbine market 2023-2027:

Segment Overview

The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is segmented by application (onshore and offshore), capacity (less than 1MW, 1MW to 3MW, and more than 3MW), and geography (APAC, Europe, North America, South America, and Middle East and Africa). 

The onshore segment will grow at a significant rate during the forecast period. The wind energy market is globally dominated by the onshore segment. For instance, according to the Global Wind Energy Council (GWEC), in 2021, new wind installations of 93.6 gigawatts (GW) brought the global cumulative wind power capacity to 837 GW, marking a growth of 12% compared to 2020. In 2021, new onshore installations stood at 72.5 GW worldwide. In regions such as Europe, Latin America, Africa, and the Middle East, new onshore wind installations increased by 19%, 27%, and 120%, respectively, in 2021, as compared with 2020. Such factors will increase segment growth during the forecast period.

Geography overview
Based on geography, the global direct drive wind turbine market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global direct drive wind turbine market.

• APAC will account for 46% of the market's growth during the forecast period. Factors such as, the market is growing mainly due to population growth and rising living standards. Rising greenhouse gas emissions in China and India have forced these countries to shift their focus to renewable energies such as wind power and reduce their dependence on fossil fuels for power generation. Moreover, governments in these countries are pushing for large-scale deployment of renewable energy to combat the environmental degradation and pollution problems caused by burning fossil fuels. Such factors will increase the market growth in this region during the forecast period.

This report presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters - View a Sample Report

Companies Mentioned

The global direct drive wind turbine market is fragmented, with the presence of several global as well as regional vendors. The key players in the market are adopting strategic developments to increase their market share across the world. The key competitive criteria in the market are price, quality, and innovation. However, the ultimate purchase decision is based on the price. Some of the key layers are: 

• ABB Ltd: In its electrification business segment, the company manufactures and sells electrical products and solutions. It also offers direct-drive wind turbines with easy installation and management.
• Bora Energy: The company offers a direct drive wind turbine called IEC Class 2 with Permanent Magnet Generator and gear less transmission.
• Emergya Wind Technologies BV: The company offers direct drive wind turbine called DirectWind61 with 61 metre motor.
• ENERCON GmbH: The company offers direct drive wind turbine called Enercon WEC with annular generator, machine house, yaw drive, and E module components.
• Anhui Hummer Dynamo Co. Ltd.
• Bachmann electronic GmbH
• Extol Wind
• Foshan Ouyad Electronic Co. Ltd.
• General Electric Co.
• Leitwind SPA
• M Torres Disenos Industriales SAU
• Mervento Power Technology AB
• Northern Power Systems Srl
• Qingdao Hengfeng Wind Power Generator Co. Ltd.
• ReGen Powertech Pvt. Ltd.
• Rockwell Automation Inc.
• Shanghai Electric Group Co. Ltd.
• Siemens AG
• XEMC Darwind BV
• Xinjiang Goldwind Science and Technology Co. Ltd.

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Key Topics Covered:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Capacity
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global direct drive wind turbine market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global direct drive wind turbine market 2017 - 2021 ($ billion)

• 4.2 Application Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ billion)

• 4.3 Capacity Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Capacity Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Application

• 6.1 Market segments 
• Exhibit 30: Chart on Application - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

• 6.2 Comparison by Application 
• Exhibit 32: Chart on Comparison by Application
• Exhibit 33: Data Table on Comparison by Application

• 6.3 Onshore - Market size and forecast 2022-2027
• Exhibit 34: Chart on Onshore - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Onshore - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Onshore - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Onshore - Year-over-year growth 2022-2027 (%)

• 6.4 Offshore - Market size and forecast 2022-2027
• Exhibit 38: Chart on Offshore - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Offshore - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Offshore - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Offshore - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Application 
• Exhibit 42: Market opportunity by Application ($ billion)
• Exhibit 43: Data Table on Market opportunity by Application ($ billion)

7 Market Segmentation by Capacity

• 7.1 Market segments 
• Exhibit 44: Chart on Capacity - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Capacity - Market share 2022-2027 (%)

• 7.2 Comparison by Capacity 
• Exhibit 46: Chart on Comparison by Capacity
• Exhibit 47: Data Table on Comparison by Capacity

• 7.3 Less than 1MW - Market size and forecast 2022-2027
• Exhibit 48: Chart on Less than 1MW - Market size and forecast 2022-2027 ($ billion)
• Exhibit 49: Data Table on Less than 1MW - Market size and forecast 2022-2027 ($ billion)
• Exhibit 50: Chart on Less than 1MW - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Less than 1MW - Year-over-year growth 2022-2027 (%)

• 7.4 1MW to 3MW - Market size and forecast 2022-2027
• Exhibit 52: Chart on 1MW to 3MW - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on 1MW to 3MW - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on 1MW to 3MW - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on 1MW to 3MW - Year-over-year growth 2022-2027 (%)

• 7.5 More than 3MW - Market size and forecast 2022-2027
• Exhibit 56: Chart on More than 3MW - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on More than 3MW - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on More than 3MW - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on More than 3MW - Year-over-year growth 2022-2027 (%)

• 7.6 Market opportunity by Capacity 
• Exhibit 60: Market opportunity by Capacity ($ billion)
• Exhibit 61: Data Table on Market opportunity by Capacity ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 67: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 87: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 91: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027
• Exhibit 95: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 India - Market size and forecast 2022-2027
• Exhibit 99: Chart on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on India - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027
• Exhibit 103: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ billion)
• Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 ABB Ltd. 
• Exhibit 115: ABB Ltd. - Overview
• Exhibit 116: ABB Ltd. - Business segments
• Exhibit 117: ABB Ltd. - Key news
• Exhibit 118: ABB Ltd. - Key offerings
• Exhibit 119: ABB Ltd. - Segment focus

• 12.4 Anhui Hummer Dynamo Co. Ltd. 
• Exhibit 120: Anhui Hummer Dynamo Co. Ltd. - Overview
• Exhibit 121: Anhui Hummer Dynamo Co. Ltd. - Product / Service
• Exhibit 122: Anhui Hummer Dynamo Co. Ltd. - Key offerings

• 12.5 Bora Energy 
• Exhibit 123: Bora Energy - Overview
• Exhibit 124: Bora Energy - Product / Service
• Exhibit 125: Bora Energy - Key offerings

• 12.6 Emergya Wind Technologies BV 
• Exhibit 126: Emergya Wind Technologies BV - Overview
• Exhibit 127: Emergya Wind Technologies BV - Product / Service
• Exhibit 128: Emergya Wind Technologies BV - Key offerings

• 12.7 ENERCON GmbH 
• Exhibit 129: ENERCON GmbH - Overview
• Exhibit 130: ENERCON GmbH - Product / Service
• Exhibit 131: ENERCON GmbH - Key offerings

• 12.8 Extol Wind 
• Exhibit 132: Extol Wind - Overview
• Exhibit 133: Extol Wind - Product / Service
• Exhibit 134: Extol Wind - Key offerings

• 12.9 Foshan Ouyad Electronic Co. Ltd. 
• Exhibit 135: Foshan Ouyad Electronic Co. Ltd. - Overview
• Exhibit 136: Foshan Ouyad Electronic Co. Ltd. - Product / Service
• Exhibit 137: Foshan Ouyad Electronic Co. Ltd. - Key offerings

• 12.10 General Electric Co. 
• Exhibit 138: General Electric Co. - Overview
• Exhibit 139: General Electric Co. - Business segments
• Exhibit 140: General Electric Co. - Key news
• Exhibit 141: General Electric Co. - Key offerings
• Exhibit 142: General Electric Co. - Segment focus

• 12.11 Leitwind SPA 
• Exhibit 143: Leitwind SPA - Overview
• Exhibit 144: Leitwind SPA - Product / Service
• Exhibit 145: Leitwind SPA - Key offerings

• 12.12 Mervento Power Technology AB 
• Exhibit 146: Mervento Power Technology AB - Overview
• Exhibit 147: Mervento Power Technology AB - Product / Service
• Exhibit 148: Mervento Power Technology AB - Key offerings

• 12.13 Northern Power Systems Srl 
• Exhibit 149: Northern Power Systems Srl - Overview
• Exhibit 150: Northern Power Systems Srl - Product / Service
• Exhibit 151: Northern Power Systems Srl - Key offerings

• 12.14 ReGen Powertech Pvt. Ltd. 
• Exhibit 152: ReGen Powertech Pvt. Ltd. - Overview
• Exhibit 153: ReGen Powertech Pvt. Ltd. - Product / Service
• Exhibit 154: ReGen Powertech Pvt. Ltd. - Key offerings

• 12.15 Siemens AG 
• Exhibit 155: Siemens AG - Overview
• Exhibit 156: Siemens AG - Business segments
• Exhibit 157: Siemens AG - Key news
• Exhibit 158: Siemens AG - Key offerings
• Exhibit 159: Siemens AG - Segment focus

• 12.16 XEMC Darwind BV 
• Exhibit 160: XEMC Darwind BV - Overview
• Exhibit 161: XEMC Darwind BV - Product / Service
• Exhibit 162: XEMC Darwind BV - Key offerings

• 12.17 Xinjiang Goldwind Science and Technology Co. Ltd.
• Exhibit 163: Xinjiang Goldwind Science and Technology Co. Ltd. - Overview
• Exhibit 164: Xinjiang Goldwind Science and Technology Co. Ltd. - Business segments
• Exhibit 165: Xinjiang Goldwind Science and Technology Co. Ltd. - Key offerings
• Exhibit 166: Xinjiang Goldwind Science and Technology Co. Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 167: Inclusions checklist
• Exhibit 168: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 169: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 170: Research methodology
• Exhibit 171: Validation techniques employed for market sizing
• Exhibit 172: Information sources

• 13.5 List of abbreviations 
• Exhibit 173: List of abbreviations

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