Direct Drive Wind Turbine Market Size, Share, Growth Analysis, By Technology(Permanent Magnet Synchronous Generator and Electrically Excited Synchronous Generator), By Capacity(Less than 1 MW, 1-3 MW, and More than 3 MW), By Application(Onshore and Offshore), By Region - Industry Forecast 2024-2031

The North America region in the global direct drive wind turbine market will be driven by the entry of leading manufacturers, increased government support to encourage the adoption of environmentally friendly technologies, and US-based companies. coming in to provide fast sales in this segment will comply. The North America region is expected to hold the largest share of the market. Growth in this sector is due to rapid expansion of wind infrastructure, implementation of offshore wind power projects and moreover, key players adopting various strategies such as expansion, partnership and investment at their presence will further support market growth in the region. For example, in December 2021, Governor Ned Lamont announced that U.S. Department of Commerce's Economic Through American Rescue Plan Act's Build Back Better Regional Challenge announced first, a multistate proposal to strengthen Connecticut's offshore wind industry. The Development Administration (EDA) has been awarded $500,000 in round-robin program funds.

The Asia-Pacific region in the global direct drive wind turbine market is expected to grow at the fastest CAGR from 2024 to 2031. This is due to the conspicuous growth from countries such as India and China and the presence of wind farms in emerging countries Taiwan. The reason for the investment is that Chinese manufacturers account for about 95% of the global direct drive wind turbine market. Government incentives and policies have made China an attractive investment destination. Furthermore, the Chinese Direct Drive Wind Turbine market held the largest market share, while the Indian Direct Drive Wind Turbine market is the fastest growing market in Asia-Pacific.