03 June 2019, Global small wind turbines market is anticipated to witness an
exponential growth in the forecast period. Small wind turbines are connected to
the grid through the power suppliers or they can stand alone (off-grid). The
factors that propel the growth of the market include growing investments in
renewable energy, cost efficiency of the wind energy, and the technical
innovations and presence of key end users.
On the other hand, there is a factor that may hamper the growth of
the market including the decreasing cost of solar PV modules. Market is
anticipated to expand at a significant CAGR in the upcoming period as the
scope, product types, and its applications are increasing across the globe.
Market could be explored by product type, power rating,
application, end user and geography. Market by product type could span
Vertical-Axis Wind Turbine and Horizontal-Axis Wind Turbine.
The
“Horizontal-Axis Wind Turbine” sector led the small wind turbines market in
2016 and will continue to lead in the forecast period. The key factors that
could be attributed to the growth include the benefits offers such as variable
pitch blade capacity, high producing capacity, improved effectiveness, and tall
towers that capture a huge amount of wind energy.
 |
| Small Wind Turbines Market |
Based on power rating, the market could be categorized into up to
50 kW and 51-100 kW capacity range. The “51-100 kW” segment led the market in
2017 and will continue to lead in the forecast period. The factors that could
be attributed to the growth include increasing demand for affordable and clean
energy across the globe.
Small wind turbines market could be explored by application as
On-Grid and Off-Grid. The “Off-Grid” segment led the market in 2017 and will
continue to lead in the forecast period. An off-grid solution is a system that
works individually and is not connected to the electricity distribution system.
It also termed as “Stand-alone Systems”. Off-Grid segment is followed by
On-Grid and is anticipated to grow high in the years to come. Market could be
explored based on the end user as Hospital, Municipal and Government and
Airport.
APAC accounted for the major share of the small wind turbines
market in 2017 and will continue to lead in the forecast period. The factors
that could be attributed to the growth include growing preference towards the
acceptance of small wind turbines for generation of electricity and occurrence
of offshore and onshore counties with good wind speeds for installations of
small wind turbines in this region.
Some of the key players that fuel the growth of the small wind
turbines market comprise Kingspan Group Plc, Bergey Wind Power Co, Northern
Power Systems Inc, Shanghai Ghrepower Green Energy Co., Ltd., Xzeres Wind Corp,
City Windmills Holdings PLC, Endurance Wind Power Inc, Fortis Wind, Kliux
Energies, Aeolos Wind Energy Ltd, and among others. The leading companies are
taking up partnerships, mergers and acquisitions, and joint ventures in order
to boost the inorganic growth of the industry.
Browse Related
Category Reports @ https://www.millioninsights.com/industry/energy
No comments:
Post a Comment