PUBLISHER: 360iResearch | PRODUCT CODE: 1471243
PUBLISHER: 360iResearch | PRODUCT CODE: 1471243
[191 Pages Report] The Small Wind Power Market size was estimated at USD 14.90 billion in 2023 and expected to reach USD 16.56 billion in 2024, at a CAGR 11.84% to reach USD 32.62 billion by 2030.
Small wind power involves the generation of electricity through wind energy systems that have a capacity of less than 100 kilowatts. These systems are typically utilized to power individual homes, farms, and small businesses and can be deployed as either standalone units, providing power in areas not connected to the electric grid, or interconnected with a larger utility grid to offset energy costs and reduce reliance on traditional energy sources. As governments and individuals worldwide strive to reduce their carbon footprint and combat climate change, small wind power systems emerge as a viable and sustainable option, especially in remote or off-grid locations where traditional power infrastructure may be impractical or too costly. Innovations in turbine design and efficiency have made small wind power systems more accessible and cost-effective for a broader range of applications. However, its high initial installation costs and efficiency dependency on local wind resources may challenge the market growth. Nevertheless, combining small wind systems with solar photovoltaic (PV) installations presents a significant opportunity to provide more reliable and consistent power supply solutions.
KEY MARKET STATISTICS | |
---|---|
Base Year [2023] | USD 14.90 billion |
Estimated Year [2024] | USD 16.56 billion |
Forecast Year [2030] | USD 32.62 billion |
CAGR (%) | 11.84% |
Type: Increasing preferences for horizontal-axis wind turbine owing to their design and efficiency
The Horizontal-Axis wind turbine (HAWTs) is the most common type seen in wind farms with components including rotor blades, a shaft, and a generator, all of which are mounted high atop a tall tower. These types are generally more efficient as they can capture higher wind speeds at their elevated positions. Their design allows them to adjust to wind directions, capturing the maximum wind energy available. Vertical Axis Wind Turbines (VAWTs) differ significantly from HAWTs in terms of design and operational characteristics. VAWTs include a main rotor shaft arranged vertically, which comes with its own set of advantages and challenges. VAWTs have a vertical orientation, allowing it to capture wind from all directions without needing to pivot thus making them suited for areas where wind direction is variable. Generally, VAWTs are less efficient than HAWTs in open, high-wind areas. However, their design makes them more versatile for installation in various environments, including urban areas and locations with turbulent wind.
Application: Adoption of small wind power in residential sector being attractive in rural or remote areas
Commercial applications of small wind power involve the installation of wind turbines at business facilities, such as small factories, agricultural farms, or remote mining sites. These turbines provide a supplementary source of power, aiming to reduce electricity costs and dependence on the grid. In commercial settings, wind power can also serve as a statement of a company's commitment to sustainable and environmental practices. In the residential sector, homeowners use small wind turbines to generate electricity for personal consumption. Typically mounted on a tower, these systems can either be grid-tied or off-grid. Residential, small wind power systems are particularly attractive in rural or remote areas where connecting to the main grid is prohibitively expensive or logistically challenging. Utility-scale applications of small wind power are less common but are growing as part of distributed energy generation strategies. Small wind turbines can be installed by electric utilities or independent power producers to complement the energy grid, especially in areas with high wind potential. Rather than providing power to a single end-user, these installations supply electricity on a larger scale, contributing to the overall energy mix.
Regional Insights
In the Americas, the United States leads the Small Wind Power market with robust growth, driven by increasing awareness of renewable energy benefits, favorable government policies, and technological advancements. Canada follows, with its vast rural expanses being ideal for small wind installations. In South America, Brazil and Argentina are noteworthy. Their focus on renewable energy, bolstered by government incentives and an increasing need for off-grid solutions, paves the way for the small wind power market's growth. In the EMEA region, Europe is at the forefront, with the United Kingdom, Germany, and Denmark leading in the small wind power sector. Europe's success can be attributed to strong government support, high public acceptance, and advanced technology. The Asia Pacific region holds immense potential, with China and India leading the charge, benefiting from government subsidies, rural electrification projects, and local manufacturing capabilities.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Small Wind Power Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Small Wind Power Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Small Wind Power Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Bergey Windpower Co., Endurance Wind Power Inc., Ennera Energy and Mobility, S.L., Eocycle Technologies Inc., Evance Wind Turbines Ltd., Gaia-Wind Ltd., Kestrel Wind Turbines, Kingspan Group PLC, Northern Power Systems Corp., Polaris America LLC, Qingdao Anhua New Energy Equipment Co., Ltd., Quietrevolution Ltd., Raum Energy Inc., SD Wind Energy Limited, Shanghai Ghrepower Green Energy Co., Ltd., Siemens AG, Sinovel Wind Group Co., Ltd., Southwest Windpower Inc., Superwind GmbH, TUGE Energia, UGE International Ltd., Unitron Energy Systems Pvt. Ltd., VENSYS Energy AG, Vestas Wind Systems A/S, Windflow Technology Ltd., Xzeres Wind Corp., and Zephyr Corporation.
Market Segmentation & Coverage
1. Market Penetration: It presents comprehensive information on the market provided by key players.
2. Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
3. Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
4. Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
5. Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
1. What is the market size and forecast of the Small Wind Power Market?
2. Which products, segments, applications, and areas should one consider investing in over the forecast period in the Small Wind Power Market?
3. What are the technology trends and regulatory frameworks in the Small Wind Power Market?
4. What is the market share of the leading vendors in the Small Wind Power Market?
5. Which modes and strategic moves are suitable for entering the Small Wind Power Market?