The global small wind turbine market is estimated to exhibit considerable growth during the forecast period. Small wind turbines are electric generators that use wind energy to produce emission-free power for farms, commercials, and residential purposes. This technology is highly useful as an individual can produce their power cut their energy bills. There are mainly two types of small wind turbines, including horizontal axis wind turbines and vertical axis wind turbines. 

The increasing number of small wind energy installations have been witnessed during the last decade. For instance, according to World Wind Energy Association (WWEA), by the end of 2019, the overall capacity of all wind turbines installed globally reached 650,8 Gigawatt. 2019 was the second strongest wind year in terms of market size, with a growth rate of 10.1 %, higher than the 9.3 % of the previous year but lower than in 2016 and 2017. Such increasing installation demonstrates raising awareness for small wind turbines among end-users. This, in turn, is driving the global small wind energy market. Moreover, other factors that are boosting the market growth include funding for wind energy projects, declining wind energy costs, and increasing demand for renewable energy sources. 

Segmental Outlook 

The global small wind energy market is segmented on the basis of type and grid type. On the basis of type, the market is further diversified into horizontal axis wind turbines and vertical axis wind turbines. Further, on the basis, the grid-type, global small wind turbine market is sub-divided into on-grid, off-grid. The adoption of small wind turbines is growing significantly among residential users due to rising electricity prices and government incentives for installations. As a result, it is encouraging the growth of small wind turbines in the residential space.

Global Small Wind Turbine Market Share by Type, 2020 (%)

Vertical axis wind turbines are projected to exhibit considerable growth during the forecast period. Vertical axis wind turbines give higher structural stability to the wind turbines, which are generally placed nearby the densely populated area. The vertical axis wind turbines are increasingly becoming popular, especially in residential spaces. Although vertical axis wind turbines are not as common as horizontal axis wind turbines due to their lesser efficiency, these are quite suitable for deployment at residential sites. 

Regional Outlooks

The global small wind turbine market is analyzed on the basis of the geographical regions that are contributing significantly towards the growth of the market. On the basis of geography, the market is divided into North America (the US and Canada), Europe (UK, Germany, Italy, Spain, France, and Rest of Europe), Asia-Pacific (China, Japan, India, and the Rest of Asia-Pacific), and the Rest of the World. 

Asia-Pacific is creating enormous opportunities for market growth due to raising awareness among consumers. In addition, increasing government projects on renewable energy sources, and increasing demand for renewable energy sources are some of the major factors that are driving the regional growth of the market.

Market Players Outlook

Key players of the Small Wind Turbine Market include Altaeros Energies, Inc., Bergey Wind Power Co., Inc., Ecocycle, Enel Green Power S.p.A., Enercon GmbH, Fortis Wind Energy B.V., Gaia-Wind Ltd., GE Renewable Energy, Kingspan Group PLC, Kliux Energies International, Inc., Qingdao Windwings Wind Turbine Co., Ltd., Shanghai Ghrepower Green Energy Co., Ltd., SheerWind, Inc., Siemens Wind Power A/S, Suzlon Energy Ltd., United Wind, Inc., Unitron Energy Systems Pvt. Ltd., Urban Green Energy International, Inc. (UGE), Vestas Wind Systems A/S, WePOWER, LLC, Windspire Energy, Inc., and WPD Canada Corp., among others. In order to survive in the market, these players adopt different marketing strategies such as a merger, acquisitions, product launch, and geographical expansion so on. With technological advancement, these companies are coming with innovations and techniques with improved products and services in order to provide the best possible treatment. 

The Report Covers

• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Small Wind Turbine Market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.