Small Wind Market

Small Wind Market Size (2023-2028):

The Global Small Wind Market was worth US$ 8,620 million in 2022 and is anticipated to reach a valuation of US$ 14,190 million by 2028 and is predicted to register a CAGR of 9.01% during 2023-2028.

A small wind system is a power system that is either connected to the electric grid via a power supplier or can operate independently (off-grid). A small wind power system is an ideal alternative for isolated locations that are not yet linked to the electric grid. In a wind electric system, a wind turbine atop a tower provides better access to stronger winds. In addition to the turbine and tower, small wind power systems require balance-of-system components.

One of the most cost-effective home-based renewable energy systems with zero emissions and pollution is a small wind electric system. Furthermore, small wind electric systems, according to the US Department of Energy, can reduce electricity bills by 50%–90% and assist avoid the expensive expenditures of extending utility power lines to remote areas. It also aids uninterruptible power supplies in weathering long-term grid outages. Small wind electric systems can also be utilized for a variety of other purposes, such as pumping water on farms and ranches.

Market Growth:

The market is expected to be driven by government restrictions aimed at limiting the rise of carbon footprints, as well as financial incentives offered to encourage the adoption of renewable energy sources.

Market Drivers:

Small wind systems, which are extensively utilized in houses, businesses, and farms, allow for micro-scale electricity generation. The need for adjustments in the overuse of nonrenewable resources has grown as a result of a wide range of global environmental challenges. Furthermore, they provide contemporary power services to families that previously did not have access to it, lowering electricity costs on islands and other distant regions that rely on oil-fired generating, and allowing residents and small businesses to generate their own electricity.

A major driving force for the small wind power market will be the growing concern about using renewable resources for electric generation. The demand for more and more off-grid applications has accelerated the expansion of the small wind energy sector. These devices are useful for installation in private locations and for more efficient energy usage. On-grid systems, which are connected to a utility grid and provide electricity for domestic appliances and business needs, are available from the small wind power industry.

Market Restraints:

Planning, building, and operations/maintenance are the three stages of a wind power plant. Wind farm sites are typically found in sparsely populated areas and are uncommon in densely populated cities. From the beginning of the planning and development phase, project developers must make frequent visits to the project site to explain the project to the local government, landowners, and other stakeholders, gain their approval, and proceed with various procedures such as environmental assessments and grid access. When developers are unable to access project sites due to movement (travel) limitations, as is the situation presently, several procedures are delayed, resulting in a significant negative impact on the wind turbine market. It did, however, have a negative impact on the small wind power market.

Furthermore, the growing use of alternative energy sources for small-scale renewable development, such as rooftop solar and small-scale bioenergy facilities, is likely to stifle industry expansion over the projection period.

Market Recent Developments:

• Through a joint initiative called Offshore-Wind-H2-Eight (Offshore-Wind-H2-Achter), eight German associations and networks have called for more significant and concrete steps to bring hydrogen production at sea, powered by offshore wind, to a higher priority in German plans for hydrogen production from renewable sources. Offshore-Wind-H2-Eight has released a joint agenda document with six recommendations to enable offshore hydrogen production in Germany, boost this technology's contribution to industrial decarbonization, and diversify domestically produced green hydrogen sources.
• Siemens Gamesa (SGREN.MC) has started putting in a new generation of onshore wind turbines in Brazil. In onshore wind generating, Brazil will be the first country in the world to use Siemens Gamesa wind turbines with 6.2 megawatts (MW) of electricity and a 170-meter (558-ft) rotor, the world's largest. Large wind power investors are interested in the approach because it optimizes wind farms by making them more powerful with fewer machines. It might also be used for "small" offshore initiatives in the future. The first machines, manufactured in Bahia, are being put in AES Brasil's Tucano wind complex.

SMALL WIND MARKET REPORT COVERAGE:

Market Segmentation: 

Small Wind Market - By Type:

• Horizontal Axis Wind Turbine
• Vertical Axis Wind Turbine

Because the design has been available for over two centuries, horizontal-axis wind turbines lead the segment by a considerable margin. Vertical axis wind turbines, on the other hand, are expected to increase at an exponential rate over the projected period, owing to their low cost and various environmental benefits.

Small Wind Market - By Installation Type:

• On-grid
• Off-grid

Because of government measures to improve grid connectivity in the small wind sector, the on-grid segment is expected to lead the market in 2025. Because new, creative technologies are being introduced into the company to modernize the equipment deployed, the off-grid segment is expected to increase somewhat throughout the projected period. However, due to older installed turbines, the off-grid segment will continue to dominate.

Small Wind Market - By Application:

• Residential
• Commercial
• Utility

The commercial sector dominated the global small wind market in 2020, and it is expected to continue to develop at the quickest rate during the forecast period. This is due to increased industrialization and rapid infrastructural construction around the world.

Market Regional Analysis: 

The Global Small Wind Market Report includes the segmentation of regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

In 2020, Asia-Pacific led the small wind market, and this trend is projected to continue in the future years. The market for tiny wind turbines, particularly off-grid and residential-scale small wind turbines, has enormous potential in the region. Since the early 1980s, China's government has encouraged the implementation of small wind power (SWP) technology, and it is one of the few rising economies to do so aggressively.

With the limited wind sector, Europe has emerged as the global leader. Germany and the United Kingdom had the highest market share in Europe, effectively dominating the industry due to large-scale funding obtained by both countries.

In terms of both volume and revenue, the small wind market in North America was the second-largest. Concerns about market saturation by 2025, on the other hand, have slowed the sector's growth.

Market Key Players:

1. Aeolos Wind Energy
2. Bergey Wind Power Co
3. City Windmills
4. Eocycle Technologies Inc.
5. Northern Power Systems
6. Ryse Energy
7. SD Wind Energy Limited
8. Shanghai Ghrepower Green Energy Co. Ltd
9. UNITRON Energy Systems Pvt. Ltd
10. Wind Energy Solutions