Small Wind Power Market By Type (Horizontal Axis Wind Turbine, Vertical Axis Wind Turbine), By Installation Type (On-Grid, Off-Grid), By Application (Residential, Commercial, Utility): Global Opportunity Analysis and Industry Forecast, 2020-2030
The global small wind power market size was valued at $7.1 billion in 2020, and is projected to reach $17.1 billion by 2030, growing at a CAGR of 8.8% from 2020 to 2030.
Small wind turbines comprise a wide range of wind turbines ranging from micro turbines to residential and mini turbines. The small wind turbines used in the end use applications that have power ratings ranging from a few watts to thousand watts. Small wind turbines include wind turbines up to 15 meters in diameter. Such wind turbines may have power ratings ranging from 50kW to 100kW. A small wind power system can be easily connected to the electric grid by using a power provider as well as standalone, also known as off grid. This makes small wind electric systems a feasible option, especially in the rural areas, which are not connected to electric grids. Although vertical axis wind turbineshave witnessed rapid growth in the global small wind power market, most of the small wind turbines are conventional horizontal axis wind turbines.
The global small wind power market has witnessed tremendous opportunities across the globe, owing to increase in awareness among consumers about the use of renewable energy sources. Moreover, increase in demand for renewable sources for energy generation and rapid industrialization boost the growth of the global small wind power market. In addition, the global market witnessed significant growth in the recent years, owing to the rise in demand for energy and increase in concerns about the environmental impacts of power generation using fossil fuels. Furthermore, upturn of investments by government agencies to improve electricity generation by integrating renewable sources of energy, such as wind energy, also supplements the market growth. This increasingly popular and simple technology has enabled individuals generate their own power, reduce overall energy expenditures, and protect the environment. However, rapid fluctuations in the prices of raw materials coupled with high cost of carbon fiber, a raw material required for manufacturing wind mill blades and turbines, are anticipated to hamper the market growth.
The Global small wind power market is segmented on the basis of type, installation type, application and region. Depending on type, the market is categorized into Horizontal Axis Wind Turbine and Vertical Axis Wind Turbine. On the basis of installation type, it is segregated into On-Grid and Off-Grid. On the basis of Application, it is classified into residential, commercial, and Utility. Region wises it is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The global small wind power market analysis covers in-depth information about the major industry participants. The key players operating and profiled in the report include Aeolos Wind Energy Ltd, Bergey Wind Power Co., City Windmills, Eocycle Technologies Inc., Northern Power Systems, Ryse Energy, SD Wind Energy Limited, Shanghai Ghrepower Green Energy Co. Ltd., UNITRON Energy Systems Pvt. Ltd. and Wind Energy Solutions
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the small wind power market growth from 2020 to 2030 to identify the prevailing small wind power market opportunities.
The Small Wind Power Market Forecast is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the small wind power market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global small wind power market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
Horizontal Axis Wind Turbine
Vertical Axis Wind Turbine
By Installation Type
On-Grid
Off-Grid
By Application
Residential
Commercial
Utility
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
United Kingdom
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
Southkorea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Aeolos Wind Energy
Bergey Wind Power Co
City Windmills
Eocycle Technologies Inc.
Northern Power Systems
Ryse Energy
SD Wind Energy Limited
Shanghai Ghrepower Green Energy Co. Ltd
UNITRON Energy Systems Pvt. Ltd
Wind Energy Solutions
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