Small Wind Market

Small Wind Market Size Analysis

According to a recent survey conducted by ChemView Consulting, the Global Small Wind Market grew at a CAGR of 9.5% between 2017-2021 and is estimated to be US$ 872.3 Mn in 2022. Currently, the market is anticipated to grow at a CAGR of 11.8% and is expected to reach a valuation of US$ 2,661.2 Mn by 2032 end.

A tiny wind system is a power system that is either completely independent or connected to the electric grid through a power supplier (off-grid). Rural locations without access to the electric grid are a natural fit for the tiny wind power system.

A wind turbine installed on a tower to allow for better access to stronger winds is the foundation of a wind-electric system. Small wind power systems also require balance-of-system components and the turbine and tower.

Market Dynamic

THE MARKET’S PERFORMANCE IS CREDITED TO THE IMPLEMENTATION OF SMALL WIND ENERGY IN RURAL HOUSEHOLDS

The demand for tiny wind energy has increased dramatically globally in recent years. Small wind energy installations in rural homes, rising sustainable energy production investments, and supportive government programs and policies are all attributed to the market’s success.

RISING ADOPTION AND IMPLEMENTATION OF ALTERNATIVE SOLUTIONS MAY IMPEDE THE GROWTH OF THE SMALL WIND POWER MARKET

The market for tiny wind power may see growing challenges due to the rising adoption and implementation of alternative solutions and high capital expenditures.

AWARENESS AMONG CONSUMERS ABOUT THE USE OF RENEWABLE ENERGY SOURCES WITNESSING TREMENDOUS OPPORTUNITIES

Due to growing consumer knowledge of the benefits of using renewable energy sources, the worldwide small wind power market has seen enormous growth prospects. Additionally, the increased industrialization and rising demand for renewable energy sources contribute to the growth of the small wind power market worldwide. In addition, the market has grown significantly in recent years due to both an increase in energy consumption and a rise in environmental concerns around using fossil fuels in producing electricity. Additionally, a surge in government agency investments to enhance electricity output by incorporating renewable energy sources, such as wind energy, has complemented market expansion.

COVID-19 Impact

The bulk of the commercial sectors worldwide have experienced a significant impact due to the global COVID-19 epidemic. In the early stages of the pandemic, the market for tiny wind turbines was comparable to other markets. However, as demand increased in the final quarter of 2020 and the beginning of 2021, the market picked up speed, and as a result, the total economic impact was minimal. Significant supply chain disruptions were caused by the adoption of social distance standards and travel restrictions. Timelines for project construction were significantly delayed as a result of this. Inappropriate project completion and an immediate impact on project economics may result from the workforce’s absence and the availability of project components.

The most recent policy adjustments that limit the clearance of items from nations that manufacture turbines are also. However, several countries, like India, focus on enhancing manufacturing with accessible global technologies and speeding up component manufacturing. On the other hand, demand development will likely depend on the government’s commitment and several different procurement approaches.

Market Segments Covered in Report

By Type:

• Horizontal Axis Wind Turbine
• Vertical Axis Wind Turbine

By Installation Type:

• On-Grid
• Off-Grid

By Application:

• Residential
• Commercial
• Utility

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

How are flexible vertical axis wind turbine solutions set to fare?

The Vertical Axis Wind Turbines segment dominated the Global Small Wind Power Market Share by Type in 2021. It is anticipated that it will continue to develop at the quickest rate throughout the forecast year. Its high-efficiency component explains this.

Why is the on-grid segment expected to expand the fastest during the forecast period?

Vertical Axis Wind Turbines dominated the Global Small Wind Power Market Share by Type in 2021. This segment is projected to continue to grow at the fastest rate throughout the forecast year. Its high-efficiency component explains this.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

• With a market share of 38.9% and over 42.0% of the small wind market, Europe has emerged as the world’s market leader. Germany and the U.K. held the largest proportion in Europe, essentially controlling the industry due to both nations’ significant financing.
• The Asia-Pacific region dominated the global small wind power market in 2021, and it is anticipated that it will continue to develop at the quickest rate during the forecast period.

Competition Analysis

There are many domestic and foreign businesses operating in the highly fragmented global small wind sector. The producers of tiny wind turbines are concentrating on developing cutting-edge products with affordable prices and effective grid connectivity to assist them grow their market share throughout the anticipated period.

A list of some of the key suppliers present in the market are:

• 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

Report Coverage and Highlights

• Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
• Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
• The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
• Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
• Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
• Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
• Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
• Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
• Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
• Strategic market analysis, recommendations, and future headways on crucial winning strategies.