Small wind Power Market Analysis Growth Factors and Competitive Strategies by Forecast 2030

Small wind market– Overview

A small wind system is defined as the power system that is connected to the electric grid through power provider as it can stand alone, that is, off-grid.

The small wind electric system is also defined as a good choice for rural areas, which are not already connected to the electric grid. The wind electric system is usually made up of a wind turbine that is mounted on a tower to provide better access to stronger winds.

Additionally, to the turbine and tower, small wind electric systems have required balance-of-system components and is one of the most cost-effective home-based renewable energy systems with zero emissions and pollution.

A small wind electric system will only work if the conditions are fulfilled that includes, there should be enough wind in the surrounding, and tall towers are allowed in neighbourhood or rural area, and that there should be enough space.

Key Trends Of Global Small Wind Market:

Government Initiatives Like Incentives Drive The Market 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.

Increasing Demand For Electricity Worldwide:

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.

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Segmental analysis of the market

Based on Application

• On-grid
• Off-grid

The on-grid segment has dominated the market growth over the forecast period because of the government initiatives towards the enhancement of grid connectivity in the small wind sector.

Based on Axis Type

• Horizontal Axis Wind Turbines
• Vertical Axis Wind Turbines

The horizontal axis wind turbines segment has dominated the market growth over the forecast period. This is because of the design that is being traditionally available over the past two centuries.

Europe is anticipated to amplify at a considerable CAGR

The small wind market is segmented into five main regions namely, North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Among these, Europe has dominated the market over the forecast period. This is because of the large-scale funding that is received by the major countries cumulatively. Also, the numerous manufacturers have set up regional offices along with production facilities in the countries in order to capitalize on the current boom in the industry as well as leverage their positions to become market leaders.

Competitive Landscape

Some of the prominent companies operating in the market are Envergate Energy AG; Kingspan Group; Kliux Energies; superwind GmbH; Bergey Windpower Co.; EOCYCLE; Shanghai Zhiyuan Green Energy Co. Ltd.; Northern Power Systems; and XZERES Corp.

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Major questions answered in this report

• what is the growth rate of the small wind market?
• What are the primary growth determinants of the market?
• Which are the major regions constituting the geographical landscape of the market?
• Which are the prominent companies operating in the market?

Key takeaways from the report

• The small wind market is projected to expand at a CAGR of 8.8% over the forecast period.
• The global energy crisis that is coupled with depleting non-renewable resources for electricity generation is aiding market progression.
• The horizontal axis wind turbines segment is poised to expand significantly over the forecast period.
• Europe has dominated the regional market sphere over the forecast period.