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Global Small Wind Market Analysis by Type, Installation, Application, Region and segments forecast till 2033
Market Overview
The global small wind power market was valued at USD 8,460 million in 2022 and is projected to reach USD 16,610 million by 2033, growing at a CAGR of 8.8%.
Report Scope
Report Attributes | Description |
Market Size in 2022 | USD 8,460 Million |
Market Forecast in 2033 | USD 16,610 Million |
CAGR % 2023-2033 | 8.8% |
Base Year | 2022 |
Historic Data | 2020-2021 |
Forecast Period | 2023-2033 |
Report USP | Production, Consumption, company share, company heatmap, company production capacity, growth factors and more |
Segments Covered | Type, Installation, Application |
Regional Scope | North America, Europe, APAC, South America and Middle East and Africa |
Country Scope | U.S.; Canada; U.K.; Germany; France; Italy; Spain; Benelux; Nordic Countries; Russia; China; India; Japan; South Korea; Australia; Indonesia; Thailand; Mexico; Brazil; Argentina; Saudi Arabia; UAE; Egypt; South Africa; Nigeria |
Key Companies | 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 and Wind Energy Solutions. |
A small wind system is a power system that is connected to the electric grid through a power provider or it can stand alone (off-grid). The small wind electric system is convenient and an efficient choice for rural areas that are not already connected to the electric grid. A wind-electric system is made up of a wind turbine soared on a tower to provide better accessibility to stronger winds. And addition to the turbine and tower, small wind electric systems also require balance-of-system components. Small wind electric system is a cost-effective home-based renewable energy system with minimum or zero emissions and pollution.
According to the U.S. Department of energy, small wind electric systems can restrain the electricity bills by 50%90% and help to avoid the high costs of having utility power lines extended to remote locations. Moreover, it also helps uninterruptible power supplies ride through extended utility outages. Furthermore, Small wind electric systems can also be used for a variety of other applications, including water pumping on farms and ranches.
Amid the global energy crisis coupled with depleting non-renewable resources for electricity generation. Rigorous government regulations towards restricting the growth of carbon footprint along with financial benefits provided to thrive the adoption of renewable sources of energy is anticipated to drive the market. However, the rising popularity of solar energy is seen as a threat to wind energy due to its competitive pricing and easy availability of components. Growing awareness in developed regions including Europe and North America along with developing regions of Asia Pacific is anticipated to drive business growth.
The government initiatives, such as incentives and energy-saving certificates by the governments in India, China, Malaysia, and Thailand, are also expected to encourage commercial units to adapt to power generation from small wind turbines during the forecast period. Moreover, With the rising pollution concerns across the world due to industrialization, especially in Asia-Pacific, regional wind power generation has gained considerable momentum. The region has become one of the largest producers of wind energy, including small wind energy.
The increasing demand for electricity worldwide. This increasing demand is attributed to the growing industrialization and increasingly deeper penetration of electricity in unconnected areas. Increasing concerns regarding the adverse environmental effects, price volatilities, and economic costs brought about by the usage of fossil fuels have compelled nations into adopting renewable sources for electricity generation over the past decade.
Type Insights
The Horizontal Axis Wind Turbine segment dominated the global small wind power market and is projected to remain the fastest-growing segment during the forecast period. This is attributed to rising industrialization and rapid expansion of infrastructure across the globe.
Installation Insights
The on-grid segment dominated the global small wind power market size and is projected to remain the fastest-growing segment during the forecast period. This is attributed due to rising environmental concerns and demand from off-grid applications are expected to drive the market.
Application Insights
The commercial segment dominated the Global small wind power market and is projected to remain the fastest-growing segment during the forecast period. This is attributed to rise in industrialization and rapid expansion of infrastructure across the globe.
Regional Insights
The Global Small Wind is further segmented into five major countries- North America, Europe, Asia-pacific, South America, Middle East and Africa.
Asia-pacific dominated the Global small wind power market and is expected to remain the fastest-growing segment during the forecast period. This is attributed due to various government initiatives, such as incentives and energy-saving certificates by the governments that will also encourage commercial units to adapt to power generation from small wind turbines during the forecast period.
Competitive Analysis
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 and Wind Energy Solutions.
In 2020, Endurance Wind Power, a Canadian manufacturer of small wind turbines, announced that it had secured a contract to supply turbines to a wind project in Chile. The project was designed to provide electricity to a remote community that currently relies on diesel generators.
Global Small Wind Market- Segmental Analysis
Based On Type:
Horizontal Axis Wind Turbine
Vertical Axis Wind Turbine
Based On Installation:
On-grid
Off-grid
Based On Application:
Residential
Commercial
Utility
Why to buy this Report?
The report provides quantitative and qualitative aspect for Global Small Wind Market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in Global Small Wind Market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
Business Model
Production Capacity, Revenue, Sales, Gross Margin
Key Business Strategy
SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the Card Type in taking a key decision within the business:
Company Share Analysis from 2020-2022
Company Analysis by Revenue and Sales
Company Production Capacity, Gross Margin
Company Share Analysis by Card Type/Card Type
Company Share Analysis by Product/Specification
