Small Wind - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Small Wind Market is accounted for $713.168 million in 2018 and is expected to reach $2,712.15 million by 2027 growing at a CAGR of 16.0% during the forecast period. The growth of the market is mainly attributed by rising demand for renewable sources for energy generation and rapidly growing industrialization has played a major part in driving the market growth. However, increasing popularity of solar energy is perceived as threat to wind energy owing to its competitive pricing and easy availability of components.
Small wind turbines for residential scale are widely available for the installation in the market. The turbine blades are usually 1.5 to 3.5 metres in diameter and generate 1-10kw of power in their optimal wind speed. A small wind system can be connected to the electric grid through the power provider or it can stand alone (off-grid). This makes small wind electric systems a good choice for rural areas that are not already connected to the electric grid. A wind electric system is made up of a wind turbine mounted on a tower to provide better access to stronger winds. In addition to the turbine and tower, small wind electric systems also require balance-of-system components.
Based on type, the vertical axis wind turbine is likely to have a huge demand in the in the small wind market owing to affordable pricing coupled with numerous environmental benefits offered by the design. By geography, Europe is likely to have a huge demand owing to numerous manufacturers establishing their companies along with production facilities in Germany and UK to capitalize the current boom in the industry as well as leverage their positions to become market leaders.
Some of the key players profiled in the Small Wind include Northern Power Systems Inc, Superwind, Wind Energy Solutions, Xzeres Wind Corporation, HY Energy Co. Ltd, City Windmills, Endurance Wind Power Inc., Shanghai Ghrepower Green Energy Co., Ltd., Zkenergy Technology Co., Ltd., Bergey WindPower Co, Envergate Energy AG, Dibu Wind, Kliux Energies, and Kingspan Environment.
• Vertical Axis Wind Turbine
• Horizontal Axis Wind Turbine
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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