Small Wind Industry Overview
The global small wind market size is expected to reach USD 2.54 billion by 2030, expanding at a CAGR of 9.2% during the forecast period, according to a new report by Grand View Research, Inc. Increasing awareness about renewable energy along with government regulations to control growing carbon footprint is propelling the market growth. Increasing global population coupled with rising energy deficit are some of the factors anticipated to positively influence the market. In addition, the gradual reduction in per kilowatt prices along with affordable installation prices of wind turbines for electricity demand will favor the business growth.
Small Wind Market Segmentation
Grand View Research has segmented the global small wind market based on application, axis type, and region:
Based on the Application Insights, the market is segmented into On-Grid and Off-Grid
- The on-grid segment accounted for a share of 40.3% in 2021 owing to the government initiatives towards enhancing grid connectivity in the small wind sector.
- In 2021, the off-grid segment registered a revenue share of 59.7% and is expected to measure growth over the forecast period owing to new, innovative technologies being introduced into the business with a view to modernizing the equipment installed. However, the off-grid segment will remain dominant owing to old installed turbines.
Based on the Axis Type Insights, the market is segmented into Horizontal Axis Wind Turbines and Vertical Axis Wind Turbines
- Horizontal axis wind turbines (HAWT) lead the segment by a large margin owing to the design being traditionally available over the past two centuries.
- The segment is expected to witness strong growth over the forecast period owing to ease in installation coupled with easy availability of components.
- Vertical axis wind turbines (VAWT) are anticipated to register exponential growth over the forecast period owing to affordable pricing coupled with numerous environmental benefits offered by the design.
Small Wind Regional Outlook
- North America
- Europe
- Asia Pacific
- South & Central America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The global small wind market is highly fragmented with numerous local and international companies. In 2021, Engie announced its partnership with Eocycle to provide a small wind turbine-like set of a range of fragmented green energy systems for users in Belgium. The EOX M-26 is a horizontal axis wind turbine with 51 meters a tip height and with 90kW turbine which produces energy of about 260 MWh annually.
The small wind manufacturers are focusing on innovative products at a competitive price and efficient grid connectivity which would help them increase their market share over the forecast period. Therefore, companies have made large investments in research and innovation of new, sleeker, and more efficient wind turbines, intending to augment their clientele.
Some prominent players in the global Small Wind market include:
- City Windmills
- Envergate Energy AG
- dibu Wind production GmbH
- Kingspan Group
- superwind GmbH
- Kliux Energies
- Bergey Windpower Co.
Order a free sample PDF of the Small Wind Market Intelligence Study, published by Grand View Research.
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