Research and Markets has announced the addition of the report “Growth Opportunities in Global Direct Drive Wind Turbine Market 2012-2017: Trends, Forecast and Opportunity Analysis” to their offering.
Favorable conditions for high growth, trends in competing or alternative energy generation technologies and costs, and higher capacity turbines are anticipated to boost the global direct drive wind turbine market. The market has experienced significant growth over the last five years and is expected to continue its growth momentum, reaching approximately US $18,541million by 2017with a CAGR of 12.5% over the next five years.
Lucintel’s research indicates that the Europe is likely to remain the largest market by value in 2017 with the expected robust growth of the offshore wind market, while APAC is expected to remain the largest market by volume in 2017. PMSG technology is expected to grow faster than EESG due to several advantages over EESG including lighter weight and lower maintenance costs.
APAC led the global direct drive wind market by capturing 62% global share by volume. North America and Rest of the World (ROW) were very small markets for direct drive wind turbines in 2011. Europe is likely to remain the largest market by value due to the expected robust growth of the offshore wind market, while APAC is expected to remain the largest by volume mainly on the strength of the Chinese market.
Lucintel’s research indicates that many new players are likely to enter the direct drive wind turbine market to reap the benefits of growing direct drive wind turbine industry. Overall, the wind energy industry is profitable and is expected to continue on the same path in the future, based on an analysis of industry fundamentals and the competitive environment.
The report, which provides trend scenarios and forecast statistics for 2012-2017,also details industry drivers and challenges; compares technologies and costs; highlights major suppliers; and more.
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Press release, November 23, 2012; Image: Siemens