Market Size of Europe Direct Drive Wind Turbine Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.69 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Direct Drive Wind Turbine Market Analysis
Europe direct drive wind turbine market is expected to grow at a CAGR of more than 2.69% over the period of 2020-2025. Major factors attributing to the growth include favorable government policies, the increasing investment in wind power projects, and the reduced cost of wind energy. These turbines are lighter and cost-efficient than conventional wind turbines as they do not contain gearbox which reduces its weight and eliminates maintenance problems related to gearbox. The European region is facing the problem of gearbox failure in wind turbines which is expected to increase the demand for gearless wind turbines. The increasing adoption of alternate energy sources, such as gas-based power and solar power, are likely to hinder the market growth.
- Technological improvements such as increased-capacity (1 MW - 3 MW direct drive system) wind turbines, floating wind turbines, 3D printing, have brought the overall cost of offshore wind power to the lowest level and opened up new offshore locations that were previously inaccessible due to lack of investment and technology. These developments are accelerating the adoption of wind power worldwide and hence, these trends are likely to drive the wind turbine direct-drive systems market during the forecast period.
- Moreover, the integration of advanced technology in wind turbines direct drive system will enable advanced condition monitoring and predictive maintenance which result in increased efficiency and reduced operational and maintenance costs, which is likely to create a significant opportunity for the market in the near future.
- Out of the total 225 billion kWh generated from renewable in Germany; offshore wind farms generated 19.4 billion KWh in 2019, holding a significant share of 9%. These ongoing developments and the current growth in the offshore wind market justifies their potential in the upcoming future.
