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.
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.
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 Wind turbine technology 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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