Increase in demand for energy, especially renewable energy, across the globe is one of the major factors driving the direct drive wind turbine market. Direct drive wind turbines are viable alternatives for offshore wind farms due to high reliability and lower maintenance costs. Furthermore, offshore winds farms eliminate several severe problems caused by windmills such as noise pollution and ecosystem damage. The overall weight of direct drive wind turbines is substantially low as compared to that of its geared counterparts. Gearless wind turbines are also noticeably efficient. This further reduces operating costs and increases the energy output. However, the cost of setting up direct drive wind turbines is relatively high due to the substantial usage of rare neodymium magnets, technology costs, and large size of generators. The average energy yield per unit cost of direct drive wind turbines is also low. However, the cost of manufacturing and setting up direct drive wind turbines is anticipated to decline in the near future, led by the rise in demand for these turbines and economies of scale.
Key players operating in the global direct drive wind turbine market are Siemens, General Electric, ENERCON GmbH, Argosy Wind Power Ltd, and Goldwind Science & Technology Co., Ltd.