Global Vertical Axis Wind Turbine Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 - 2032

Global Vertical Axis Wind Turbine Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 - 2032

Global Vertical Axis Wind Turbine Market Size, Share & Trends Analysis Report By End-user, By Region, and Segment Forecasts, 2023 – 2032

Vertical Axis Wind Turbine Market is being valued at US$ 13.1 billion in 2022 & expected to grow at US$ 18.4 billion at a CAGR of 3.5% during the time 2032.

A vertical axis wind turbine (VAWT) is a wind turbine design where the primary rotor shaft is positioned perpendicular to the wind direction, with its primary components located at the turbine's base. Depending on its intended applications, it can efficiently generate power and is particularly well-suited for situations where space is limited and safety considerations are paramount. One notable advantage of VAWTs is the ease of gearbox replacement and maintenance. This convenience arises from the gearbox's location near the ground, eliminating the need for operators to ascend great heights, often hundreds of feet in the air. Furthermore, VAWTs do not require constant alignment with the wind, which means they do not rely on wind-sensing and orientation mechanisms.

A vertical axis wind turbine (VAWT) has its main rotor shaft aligned perpendicular to the wind direction, and its main components are located at its base. It can efficiently produce power based on the purpose for which it is intended. It functions particularly well when there is a limited amount of room and safety comes first. One significant advantage of VAWTs is how easy it is to maintain and replace the gearbox. One advantage of the gearbox's close closeness to the ground is that operators are spared from having to ascend to extraordinarily high elevations, frequently hundreds of feet. Furthermore, VAWTs do not require wind-sensing or orientation systems because they do not need to be constantly aligned with the wind.

As discussing vertical axis wind turbines (VAWTs), space efficiency refers to the turbines' capacity to produce wind energy efficiently while taking up comparatively less space as compared to other wind turbine types, such horizontal axis wind turbines (HAWTs). With the rotor shaft positioned perpendicular to the ground, VAWTs have a distinctive vertical orientation. They don't need a system to continuously monitor the direction of the wind because of their design, which enables them to capture wind from any direction. HAWTs, on the other hand, must face the wind, necessitating more room and intricate orientation mechanisms.

Since VAWTs are usually put in close proximity to the ground, tall support towers are not necessary for them. In contrast, HAWTs frequently require large towers in order to raise the rotor above objects that are at ground level, like trees or buildings. The physical footprint of the VAWTs is minimised by their placement at ground level. VAWTs work well in urban and densely populated places where land is scarce because of their small size and capacity to function well in cramped locations. They can be put in place in places that are smaller and more densely populated, like little land lots or roofs.

VAWTs can be positioned closer to one another without causing noticeable interference from nearby turbines. This maximises the amount of energy generated from a limited amount of space by enabling the installation of more turbines inside a given area. Additionally, because of their vertical construction, VAWTs can be used in a variety of terrain types, such as hilly or uneven landscapes, where HAWTs could need more specialised site preparation and terrain changes.

Because VAWTs may successfully harvest wind energy in regions with limited land or where the installation of larger, traditional wind turbines would be impossible, their small and vertically orientated design makes them space-efficient. Because renewable energy generation must cohabit with limited available space in urban and crowded contexts, this space efficiency is very essential.

“Darrieus segment, by type, to be largest market from 2023 to 2030.”

Over the course of the forecast period, the Darrieus segment type is anticipated to create the largest revenue. A Darrieus machine is an apparatus with low torque and rapid speed that produces alternating current (AC). Because of their extremely low initial torque, Darrieus machines require an external power source in order to start their rotation. Instead, they rely on physical propulsion. Two vertically aligned blades that revolve around a perpendicular shaft make up this device.

“Residential segment, by application, to be largest market from 2023 to 2030.”

Over the course of the projected period, the residential segment is anticipated to create the highest revenue. These are mostly used to produce electricity on-site for home and small-scale business uses. They may work well in urban settings with limited area and varying wind directions. Compact or small-scale vertical axis wind turbines may be more appropriate for residential settings with limited space. They are easier to incorporate into suburban or urban settings and have a lesser environmental footprint.

“North America to be largest region in Vertical Axis Wind Turbine Market.”

By region, the market is divided into North America, Europe, APAC, and Others. Others are further divided into the Middle East and South America. North America is expanding at the fastest rate in the market due to a number of factors, including the growing need for renewable energy, government regulations that are supportive of the industry, and advancements in technology. The renewable energy industry in this region is well-established, and the use of vertical axis wind turbines, or VAWTs, is growing quickly. Additionally, the region gains from supportive government policies that actively support the expansion of the VAWT industry. North American governments are launching a number of programs and incentives to encourage the use of renewable energy sources, such as VAWTs. For example, the US offers tax benefits to wind power producers under the Production Tax Credit (PTC) program. Similar to this, the Canadian government has launched a number of initiatives to promote the use of clean energy and set high goals for the production of renewable energy.

It is anticipated that Asia Pacific will take the lead in the global market share of vertical axis wind turbines. This area, which is led by China and India, benefits from both a rise in windmill installation projects that are anticipated to drive market expansion and advantageous government policies designed to increase the adoption of wind power.

It's expected that Europe will grow significantly on the international scene. Future market expansion is anticipated to be supported by the accelerating rate of technical advancements and more stringent government regulations targeted at lowering carbon emissions.

With more wind energy projects coming online, the Middle East and Africa market is expected to grow significantly in the upcoming years.

Competitive Landscape

The competitive landscape of the Vertical Axis Wind Turbine Market involves assessing the competitive landscape to understand the strengths, weaknesses, opportunities, and threats of the industry. Key industry players have recognized that the adoption of Vertical Axis Wind Turbine holds the potential for further growth. The growing desire among producers to optimize their production costs has spurred collaborative efforts among companies to scale up their production capacity. This strategic collaboration not only aims to increase revenue but also seeks to establish dominance in the market.

The Vertical Axis Wind Turbine Market is highly competitive, with numerous companies vying for market share.

Major Players:

Urban Green Energy (UGE)

Northern Power Systems

Aerovironment

Envergate Energy AG

Vortex Bladeless

Arborwind

Windspire Energy

SAWT Energy

Magenn Power

Quietrevolution

Helix Wind

Oy Windside Production Ltd.

Recent Developments:

The Swedish manufacturer of wind turbines, SeaTwirl, declared in July 2023 that its first commercial order for a vertical-axis floating wind turbine has been approved.

A memorandum of agreement (MoU) was signed by SeaTwirl with Kontiki Winds, a Norwegian offshore wind developer, in 2023. Because of Norway, the two businesses are looking for and investigating options to electrify offshore oil and gas assets as well as other offshore opportunities.

A vertical axis wind turbine is among the innovative inventions in the floating wind turbine business that American Offshore Energy (AOE) released in November 2022.

In January 2020, mosques became self-sufficient in electricity generation thanks to a joint project by two Turkish universities, Karadeniz Technical University (KTÜ) in Trabzon and Kahramanmaraş Sütçü Mam University (KSÜ). By installing vertical axis wind turbines on mosque rooftops and minarets, this creative solution enables the buildings to use wind power to meet their energy needs.