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
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
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: SMALL WIND POWER MARKET, BY TYPE
CHAPTER 5: SMALL WIND POWER MARKET, BY INSTALLATION TYPE
CHAPTER 6: SMALL WIND POWER MARKET, BY APPLICATION
CHAPTER 7: SMALL WIND POWER MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, 'Small Wind Power Market,' the small wind power market size was valued at7.4 billion in 2020, and global market forecast projected to reach $17.1 billion by 2030, with global Small wind forecast expected at a CAGR of 8.8% from 2021 to 2030.Small wind turbines refer to a wind power project generally under a power generation capacity of 20 kW and a rotor diameter of 10 meters or 30 feet. Small wind turbines are being widely deployed for domestic and household purposes. Small wind turbines differ from large turbines in several crucial ways, demonstrating their relatively greater versatility. While large turbines entail mature power grids, small wind turbines find applications in both on and off power grids due to their low energy output and size. The off-grid application of small wind turbines avoid the heavy investments of expanding transmission lines to rural regions In addition, small wind turbines operate on lower wind speed as compared to large wind turbines, giving them more placement options.
A small wind turbine is used for microgeneration of electricity, as opposed to large commercial wind turbines with high individual power output. Generally determined by the way the turbine spins, wind turbines can be classified into two basic types-horizontal axis and vertical axis wind turbines. Horizontal axis wind turbines are used predominantly whereas the vertical axis wind turbines are less preferred. Small wind turbines comprise of a broader range of wind turbines from micro and mini to household sized. Wind turbines in the aforementioned sizes have power ratings from a few watts to dozens of kW. Growth in demand for sustainable and renewable sources of energy across consumers majorly drives the demand for small wind turbines. Moreover, emphasis on clean energy as well as increase in number of awareness programs conducted by governmental and private organizations is another key element that accelerates the demand for small wind turbines across the globe.
The Global small wind power market forecast 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 wise, 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.
The global small wind power market trends is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2020-2030. The report includes the study of the small wind power market growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.
IMPACT OF COVID-19 ON THE GLOBAL MARKET
- Wind power projects can be roughly divided into three phases: planning, construction, and operations/maintenance. Sites suitable for wind farms are generally in sparsely populated areas and rare in cities with large populations. Project developers therefore need to make frequent visits to the project site from the initial planning and development phase in order to explain the project in advance to the local government, landowners and other stakeholders, gain their assent, and move forward with various procedures, including environmental assessments, grid access and FiT program certification. However, when developers are unable to visit project sites due to restrictions on movement (travel) as is the case now, many procedures are delayed which led to highly negative impact on wind turbine market. However, it also turned negative impact to the market.
- The manufacturing of Wind turbine was stopped for a specific period due to high peak of covid-19 situation, which led to highly impact the sales of Wind turbine. However, led to negative impact on the market.
- Wind power projects is directly proportional to the demand of wind turbine used in projects. Wind turbine market have been negatively impacted amid the lockdown imposed due to the COVID-19 outbreak and recorded a huge decline in Wind turbine. However, it also led to decrease in the market.
- COVID-19 Impact affected almost all industries by hindering various industrial operations and disrupting the supply chain. Maximum companies halted their operation due to less workforce. However, there is a sluggish decline in the global market due to IMPACT OF COVID-19.
According to the UNIDO, 30.0%-70.0% of pre-COVID-19 workforce of various industries and vendors migrated to their hometowns, due to uncertainties and loss of income during the lockdown. This unavailability or less availability of workforce is expected to directly affect the production and manufacturing activities, thereby resulting in decline in demand for raw types used in Wind turbine. This is expected to decline the growth of the market during the forecast period.
Key findings of the Study
- On the basis of type, the Vertical Axis Wind Turbinesegment emerged as the global leader in 2020 and is anticipated to be the largest markets during the forecast period.
- On the basis of installation type, the on-grid segment emerged as the global leader in 2020 and is anticipated to be the largest markets during the forecast period.
- On the basis of application, the commercial segment emerged as the global leader in 2020 and is anticipated to be the largest markets during the forecast period.
- On the basis of region, the Asia-pacific region registered the highest Small Wind Power Market Share and is projected to maintain the same during the forecast period.
Companies Mentioned
- 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
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
LOADING...
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 345 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 7.1 billion |
| Forecasted Market Value ( USD | $ 17.1 billion |
| Compound Annual Growth Rate | 9.2% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
