In 2016, the small wind market was worth more than USD 530 millions. It is expected to grow at over 14% in 2025 due to the global energy crisis and depleting nonrenewable resources for electricity production. The market is expected to be driven by strict government regulations to limit the growth of the carbon footprint and financial benefits to increase adoption of renewable energy sources. Due to its low cost and availability of components, solar energy is seen as a threat to wind power. Business growth is expected to be driven by increased awareness in developed areas such as North America and Europe, as well as developing regions like Asia Pacific.
U.S. small-wind market revenue by axis type, 2014-2025 (USD Million).
The segment's leader is the horizontal axis wind turbines, HAWT. This is due to the fact that the design has been around for more than two centuries. HAWT was responsible for more than 95 MW of total volume in 2016. This segment is expected to grow strongly due to its ease of installation and availability of components. The affordable pricing and numerous environmental benefits of vertical axis windturbines (VAWT), are expected to drive exponential growth in the forecast period.
2016: Global small wind market revenue by application (%)
Due to government initiatives to improve grid connectivity in small wind sectors, the on-grid segment will reach USD 190 millions by 2025. Regulators will offer numerous economic and financial benefits, including Production Tax Credits (Impact Tax Credits) and Feed in Tariffs. This will increase the market for small wind growth during the forecast period.
The off-grid segment, which was valued at USD 35 million in 2016, saw a steady growth rate. This is due to the introduction of new technologies into the business to modernize existing equipment. Old turbines will ensure that the off-grid segment remains dominant.
Europe was the world's leader in small wind markets, accounting for 42%. The largest share of Europe's small wind market was held by Germany and the United Kingdom. This is largely due to the large-scale funding that both countries have received. Many manufacturers have established regional offices in these countries, as well as production facilities, to capitalize the current boom in this industry and leverage their position to become market leaders.
The North American market for small wind in 2016 was second in both revenue and volume. The market has been slowing due to concerns about market saturation by 2025. A 2015 Department of Energy report on Wind Energy found that 80% of small-sized wind turbines made in the country are being exported.
The Asia Pacific small wind market was worth more than USD 90 million in 2016. It is expected to record the highest gain during the forecast period. Due to rapid depleting resources, the region faces a major energy crisis that will only get worse. The future of the energy industry is in this critical situation. Affordable renewable energy sources are considered to be the best option. Asia Pacific will be the second largest market in the forecast period.
Envergate, Kingspan Wind and Kliux Energies are key players in the small-wind market. This market is fragmented and includes many international and local companies.
Small wind producers are looking for innovative products that offer competitive prices and reliable grid connectivity to increase their market share. Companies have invested large amounts in research and development of new, more efficient and sleeker wind turbines to increase their clientele.
This report forecasts revenue growth at the global, regional and country levels. It also provides analysis of the most recent trends and opportunities in each sub-segment from 2014 through 2025. Up Market Research segmented the small-wind market based on product and region.
Application Outlook (Volume of Megawatts, 2014-2025) (Revenue USD Million, 2014-2025)
On-Grid
Off-Grid
Axis Type Outlook (Volume Megawatts, 2014-2025) (Revenue, USD million, 2014-2025)
Horizontal Axis Wind Turbines
Vertical Axis Wind Turbines
Regional Outlook (Volume Megawatts, 2014-2025) (Revenue USD Million, 2014-2025)
North America
The U.S.
Canada
Europe
The U.K.
Germany
Italy
Asia Pacific
China
India
Japan
South Korea
South & Central America
Brazil
Up Market Research published a new report titled “Small Wind Market research report which is segmented by Application (Off grid, On grid), by Axis Type (Vertical Axis, Horizontal Axis), By Players/Companies Kliux Energies, Xzeres Wind Corporation among others The market is highly fragmented with numerous local and international companies, Envergate, Bergey Windpower Co, Northern Power Systems, Shanghai Ghrepower Green Energy, Superwind, Eocycle Technologies, Kingspan Wind”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
Report Attributes | Report Details |
Report Title | Small Wind Market Research Report |
By Application | Off grid, On grid |
By Axis Type | Vertical Axis, Horizontal Axis |
By Companies | Kliux Energies, Xzeres Wind Corporation among others The market is highly fragmented with numerous local and international companies, Envergate, Bergey Windpower Co, Northern Power Systems, Shanghai Ghrepower Green Energy, Superwind, Eocycle Technologies, Kingspan Wind |
Regions Covered | North America, Europe, APAC, Latin America, MEA |
Base Year | 2020 |
Historical Year | 2018 to 2019 (Data from 2010 can be provided as per availability) |
Forecast Year | 2028 |
Number of Pages | 213 |
Number of Tables & Figures | 150 |
Customization Available | Yes, the report can be customized as per your need. |
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Application (Off grid, On grid), by Axis Type (Vertical Axis, Horizontal Axis).
Small Wind Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the Small Wind Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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