Share
Small Wind Turbine Market: By Type (Horizontal Axis Wind Turbine and Vertical Axis Wind Turbine), By Application (On-Grid and Off-Grid) And Region - Global Analysis of Market Size, Share & Trends for 2019-2020 And Forecasts To 2031
Global Small Wind Turbine was valued at 0.2 billion in 2021 at a CAGR of 1.3%. The growing demand for renewable energy sources and rapid industrialization have given the worldwide small wind market a much-needed boost.
Small wind turbines include a wide range of models, from micro turbine to home turbines to mini turbines. The power ratings of the wind turbines utilized in this end-use application range from a few watts to thousands of watts. Small wind turbines are those with a diameter of less than 15 meters. Although vertical -axis wind turbines have seen tremendous expansion in the worldwide small wind power industry, conventional wind turbines still account for the majority of small wind turbines. Small wind turbine is being used to power off-grid or distant applications such residences, farms, refuges, and beacons.
Global Small Wind Turbine was valued at 0.2 billion in 2021 at a CAGR of 1.3%. The growing demand for renewable energy sources and rapid industrialization have given the worldwide small wind market a much-needed boost. The global small wind market has also grown as a result of rising energy demand & growing concerns about the environmental implications of fossil-fuel-based power generation.
The market is divided into two types: horizontal axis wind turbine (HAWT) and vertical axis winds turbine (VAWT). The main rotor shaft of a vertical axis wind turbines is positioned vertically. This increases the structural stability of wind turbine, which are typically located near heavily populated areas, lowering the chance of accidents. Apart from domestic applications, VAWTs are often utilized to power street lighting because they are small and attractive. In addition, when compared to horizontal positioning systems, vertical axis wind turbines do not require a directed positioning system. This cuts down on the need for complicated instruments while also lowering the overall cost.
The market is divided into two categories based on application: on-grid and off-grid. Off-Grid had the greatest market share, had the highest market value, and was anticipated to increase at the highest CAGR over the forecast period. An off-grid system is a system that operates independently of the electrical grid and it is not linked to it. Stand-alone systems are another name for it. This is due to growing environmental concerns, and need from off-grid applications is projected to propel the industry forward.
Increasing demand vertical axis wind turbine
The growth of technology and advancements in the regional and global markets drive the small wind turbines industry. The entire cost of a tiny wind turbine is determined by a number of factors, including installation costs, space availability, and so on. The small wind turbines market is divided into two categories based on technology: HAWT (Horizontal-Axis Wind Turbine) & VAWT (Vertical-Axis Wind Turbine). The HAWT technology is relatively old and readily available. The VAWT technology sector dominates the market, with a much bigger share than the HAWTs technology section. Furthermore, during the projected period, the VWAT technology sector is expected to increase at a high rate.
Rising consumer knowledge
Due to increased consumer knowledge about the usage of renewable energy sources, the worldwide small wind turbine market has seen enormous prospects all around the world. Furthermore, the worldwide small wind turbine market is growing due to a rise in need for renewable energy sources along with fast industrialization. Furthermore, the market has seen significant expansion in recent years, due to rising energy demand and raising concerns regarding the environmental implications of fossil-fuel-based power generation. Furthermore, government agencies have increased their spending in improving electricity generation by incorporating renewable energy sources, such as wind energy, which has aided market growth.
Raw material price volatility
The pandemic outbreak slowed the expansion of the small winds turbine sector and functioned as a major brake on the market. The production process was slowed, and numerous modest wind power projects were postponed as a result of the lockdown. During this time, worldwide energy consumption declined, stifling the modest wind power market's expansion.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global Small Wind Turbine market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia-Pacific led the wind power generating industry, and this trend is projected to continue in the future years. The market for tiny wind turbines, particularly off-grid & residential-scale small winds turbines, has enormous potential in the region. Asia-Pacific accounted for highest percent of global wind power generation, totaling 514.3 terawatt-hours. China's government has encouraged the implementation of small winds power (SWP) technology, and this is one of the very few rising economies to do so aggressively.
COVID-19 has impeded market growth by lowering energy consumption in countries, limiting economic growth in nearly all major economies, and altering supply networks. Increased environmental concerns and demand from off grid applications are expected to propel the industry forward. Technological improvements that have decreased the cost of producing wind turbines and enhanced their efficiency have also supported the growth of the small wind turbine market. However, the increased usage of alternative energy sources for small-scale renewable development, such as solar energy & small-scale bioenergy facilities, is expected to hinder market growth during the projected period.
|
Report Attribute |
Details |
|
Market size value in 2021 |
0.2 billion |
|
Revenue forecast in 2031 |
0.3 billion |
|
Growth Rate |
CAGR of 1.3% from 2021 to 2031 |
|
Base year for estimation |
2020 |
|
Quantitative units |
Revenue in USD million and CAGR from 2021 to 2031 |
|
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
|
Segments covered |
Type, Application and Region |
|
Regional scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
|
Key companies profiled |
Aeolos Wind Energy Ltd, Bergey Wind Power Co., City Windmills Holdings PLC, Fortis Wind, SD Wind Energy, Kliux Energies, Northern Power Systems Inc., Shanghai Ghrepower Green Energy Co. Ltd, Xzeres Wind Corp., Ryse Energy and Other Prominent Players. |
Global Small Wind Turbine was valued at 0.2 billion in 2021 at a CAGR of 1.3%.
Small wind turbines include a wide range of models, from micro turbine to home turbines to mini turbines. The power ratings of the wind turbines utilized in this end-use application range from a few watts to thousands of watts.
VWAT and Off grid segments accounted for the largest Small Wind Turbine market share.
Key players: Aeolos Wind Energy Ltd, Bergey Wind Power Co., City Windmills Holdings PLC, Fortis Wind, SD Wind Energy, Kliux Energies, Northern Power Systems Inc., Shanghai Ghrepower Green Energy Co. Ltd, Xzeres Wind Corp., Ryse Energy are the key players in the Small Wind Turbine market.
The market is being driven by the Increasing Technology and advancements and Increasing Consumer knowledge is also likely to drive the market demand in the forecasted period, i.e., 2021-2031.
Select License Type
Select License Type
FATPOS CLIENT Appriciation DURING THE PROJECT
Working with Fatpos Global, allowed us to take advantage of their knowledge and easy approach, allowing us to collect important data utilizing a variety of techniques. The results were clearly presented and explained, and FG responded to our questions with speed and expertise.
|
Swiss-based global building materials manufacturer |
The analyses and presentations Fatpos Global have produced for us have been of a very high caliber and have allowed us to proactively improve our customer relationship management. They have also done so while maintaining complete anonymity. Without any doubt, we suggest Fatpos Global to you.
|
|
Tech-powered construction company |
We appreciate the team’s punctuality, flexibility in terms of report modification, post report purchase support and pleasant reaction all around. Overall, my experience with this company was nothing but positive, and I couldn't be more grateful for their excellent service. Thank you for all that you do!
|
|
American global management consulting firm |
We are able to concentrate on the topics and implications that are most important to our clients thanks to the adaptability and responsiveness of the team at Fatpos Global. We would highly recommend this company to anyone in need of their services, and I will certainly be using them again in the future.
|
|
Headquartered in Zug, Switzerland, leading supplier of medical and surgical instrument |
To better study our client demographics, develop the ideal product-price architecture, and enhance our target marketing initiatives, we hired Fatpos Global. Every component of the project was completed, and we are very happy with the useful insights and actionable results.
|
|
Kosovan company, A leading organic fertilizers producer |
Thank you for your team's generous assistance, The final report was delivered to me, and I find it to be really helpful. Also, you may be sure that I will get in touch with you if I ever require fresh materials for market research. Gratitude once more.
|
|
German specialty chemicals company based in Cologne, Germany |
