Small Wind Power Market Is Set To Grow According To Latest Research
According to MRFR analysis, the global Small Wind Power market is expected to register a CAGR of ~ 14.82% from 2023 to 2030 and hold a value of over USD 14.80 billion by 2030.
Small
wind power refers to wind turbines that are designed for use in residential and
small-scale commercial applications. These wind turbines are typically smaller
in size than utility-scale wind turbines and are used to generate electricity
for on-site consumption or to feed into the grid. Small wind power is a form of
renewable energy that is considered to be clean and sustainable and is becoming
increasingly popular as a way to reduce energy costs and reduce dependence on
the traditional power grid.
The
economic slowdown caused by the pandemic has led to a decrease in demand for
these products, as consumers and businesses reduce their spending. On the other
hand, the demand for small wind power has been supported by the need to
transition to cleaner and more sustainable energy sources. Additionally, supply
chain disruptions have caused difficulties for manufacturers, resulting in
price hikes and reduced availability.
Key Players
·
Northern Power Systems
Corp. (U.S.)
·
Kingspan Group Plc.
(Ireland)
·
Bergey Wind Power Co.
Inc. (U.S.)
·
S.L. (Spain)
·
Ennera Energy and
Mobility
·
Eocycle Technologies Inc.
(Canada)
·
Guangzhou HY Energy
Technology Co. Ltd (China)
·
Shanghai Ghrepower Green
Energy Co. Ltd (China)
·
Endurance Wind Power Inc.
(Canada)
·
XZERES Wind Corporation
(U.S.)
·
City Windmills Holdings
PLC (U.K.)
·
Aeolos Wind Energy Ltd
(U.K.), among others
Regional Analysis
North
America is the second-largest market for small wind power. This is due to
several factors, including favorable policies and regulations that support the
deployment of renewable energy, as well as the presence of a large and mature
wind power industry in the region.
The
US, in particular, is one of the largest markets for small wind power, with a
growing number of residential and commercial customers adopting the technology
to reduce their energy costs and become more energy-independent. Additionally,
the region has a large installed base of wind power infrastructure, including
large wind farms and wind turbine manufacturers, which is driving the growth of
the small wind power market in the region.
Market Segmentation
The
Global Small-scale
wind turbines market Size has been segmented into grid connectivity, axis, and
capacity.
Based
on the grid connectivity, the market has been segmented into On-Grid and
Off-Grid.
Based
on the axis, the market has been segmented into Horizontal Axis and Vertical
Axis.
Based
on the capacity, the market has been segmented into up to 2 kW, 2 kW to 5 kW, and
5 kW to 10 kW.
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