Direct Drive Wind Turbine Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
The direct drive wind turbine market is anticipated to register a CAGR of more than 3.4% during the forecast period. In 2020, the COVID-19 outbreak had a moderate impact on the market due to the stringent lockdown protocols imposed by governments worldwide, leading to a delay in the production of direct drive wind turbines. Favorable government policies to adopt clean energy may boost the demand for direct drive wind turbines during the forecast period. The leading wind power plant players have started adopting direct drive systems from the traditional gearbox system due to turbines. Direct drive systems are lighter and more cost-efficient than traditional wind turbines. They do not contain a gearbox, which reduces their weight and eliminates the maintenance problems related to the gearbox. However, the initial capital investment required for a wind power plant is slightly higher compared to the other renewable and non-renewable energy markets. This factor, in turn, is expected to hinder the growth of the market in the coming years.
Key HighlightsThe direct drive wind turbine market is moderately fragmented. The key players in the market include ABB Ltd, Voith GmbH, Avantis Energy Group, Goldwind Science & Technology Co. Ltd, and Emergya Wind Technologies BV.
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