Published Date : Feb 06, 2017
Albany, NY, Feb 06, 2017: A recent market research report added to the vast portfolio of MarketResearchReports.biz presents a detailed account of the global market for direct drive wind turbines, a wind turbine technology which has garnered significant attention of late owing to its several advantages over conventional wind turbines. The report states that the market will exhibit an impressive 11% CAGR over the period between 2017 and 2021. The report is titled “Global Direct Drive Wind Turbine Market 2017-2021.”
In terms of application, the global direct drive wind turbine market is segmented into offshore applications and onshore applications. Of these, the market is presently dominated by the onshore segment, which accounted for a massive chunk of the market revenues in 2016. The key factor to have helped the application segment to take its dominant position is the low capital investment required to set up onshore wind turbines than in onshore locations. This has led to a significant rise in demand for direct drive wind turbines in onshore applications in the past few years. The segment is expected to remain the leading application segment over the report’s forecast period as well.
On the basis of geography, the market for direct drive wind turbines is segmented into Americas (North and South America), APAC (Asia Pacific), and EMEA (Europe, Middle East, and Africa). Of these, the APAC market for direct drive wind turbines is expected to dominate the global market through the forecast period. This dominance of the regional market can be attributed to the thriving market for renewable energy and the mounting demand for electricity from the continuously rising population in the region.
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Enhanced standards of living of the population in the region are also expected to encourage the development of the wind power market in the region, leading to the excellent demand for new direct drive wind turbines in the region in the next few years. Developing economies such as India and China are expected to account for the most installations in the Asia Pacific direct drive wind turbines market over the forecast period. Encouraging government policies and high wind energy potential will be the key factors boosting the demand for direct drive wind turbines in these countries.
The global market for direct drive wind turbines features a highly competitive vendor landscape, with leading companies competing on the basis of geographical expanse, product quality, and price. Presently, the market is highly diverse owing to the presence of a large number of regional as well as international companies. To strengthen their market positions, companies are focusing on R&D activities to develop products with improved durability and low pricing models. This is expected to further intensify the level of competition in the market in terms of returns.
Some of the key vendors operating in the market are GE Renewable Energy, Goldwind Science and Technology, ENERCON, VENSYS Energy, Siemens, Foshan Ouyad Electronic, Leitner AG, AVANTIS Energy, Anhui Hummer Dynamo, Qingdao Hengfeng Wind Power Generator, ReGen Powertech, Qingdao Richuan Precision Machinery, XEMC Windpower, Mervento, and Bora Energy.
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