Asia Pacific Is Expected To Generate The Largest Share In The Drive Wind Turbine Market - Future Market Insights, Inc

The global direct drive wind turbine market is expected to be worth US$ 18.3 billion in 2032, with a CAGR of 16.2 % from 2022 to 2032. It is expected to exceed $14.6 billion by 2022. The urgent need to reduce noise, improve surge efficiency, and generate more torque with lower RPM is expected to boost direct drive wind turbine sales during the assessment period.

A few of the factors driving the growth of the Direct Drive Wind Turbine market in the industrial automation industry are the rising use of machines, the demand for high-quality products across various industries, and the integration of smart devices into the machinery. Automation is being used by businesses to boost productivity and cut labour costs. FMI offers thorough industry insights to help market participants develop their long-term strategies and keep their competitive edge.

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The high demand for energy across the globe is a significant factor that is anticipated to propel the direct drive wind turbines market share in the forthcoming years. The rapid industrialization, favorable regulations on energy efficiency, and high share of renewables in the power generation sector are likely to augment the market.

According to the FMI's report, the Direct Drive Wind Turbine market is projected to record a CAGR of 16.2% over the forecast period. To receive the detailed insights about the Direct Drive Wind Turbine market, our experts relies on the primary and secondary research, and various wide range of data set gathered from organic and inorganic sources to provide estimates for the upcoming decade.

The global market is moderately fragmented backed by the presence of various small- and large-scale companies. Majority of the leading companies are aiming to attract more customers by participating in mergers and acquisitions with start-up companies. A few other players are focusing on introducing innovative products to expand their existing product portfolios and compete with their rivals.

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Market Competition:

 - ReGen Powertech Pvt. Ltd.
- ABB Ltd.
- Northern Power System
- Goldwind Science & Technology Co. Ltd.
- Siemens Gamesa Renewable Energy SA
- Torres Olvega Industrial
- Emergya Wind Technologies B.V.
- Rockwell Automation Inc.
- Enercon GmbH
- Avantis Energy Group
- Bachmann electronic GmbH

Key Segments Profiled in the Drive Wind Turbine Industry Survey

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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Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

This release was published on openPR.