Small Wind Turbine Market Size, Share & Industry Analysis, By Type (Horizontal Axis Wind Turbine, Vertical Axis Wind Turbine), By Installation type (On-Grid, Off-Grid) And Regional Forecast, 2024-2032

The small wind turbines are upwind machines that convert wind energy into electrical energy with the help of blades, rotors, and generators. They provide facilities to generate electricity at the micro-level and are widely used in homes, beacons, and farms. The extensive range of global environmental issues has increased the need for changes in the overutilization of non-renewable resources. Furthermore, they offer the benefits of modern electricity services to households that had no access to electricity, reducing electricity costs on islands and in other remote locations that are dependent on oil-fired generation, as well as enabling residents and small businesses to generate their electricity.

With the technological advancements and the wind turbine manufacturing costs declining significantly, in recent years, the adoption of vertical axis wind turbines is expected to increase in the coming years.

Based on type, the small wind turbine market is segregated into horizontal axis wind turbine and vertical axis wind turbine. Horizontal axis wind turbines lead the segment by a large margin owing to the design being traditionally available for over the past two centuries. Whereas vertical axis wind turbines are anticipated to register exponential growth over the forecast period owing to affordable pricing coupled with numerous environmental benefits offered by the design.

Based on installation type, the market is classified into on-grid and off-grid. The on-grid segment is predicted to lead the market in 2025 owing to the government initiatives towards enhancing grid connectivity in the small wind sector. The off-grid segment is anticipated to register measured growth over the forecast period owing to new, innovative technologies being introduced into the business to modernize the equipment installed. However, the off-grid segment will remain dominant owing to old installed turbines.

The rising concern of utilizing renewable resources for electric generation will act as a major driving force for the small wind power market. The demand for more and more off-grid applications has increased the growth of the small wind power market to a greater extent. These systems are helpful for installation in private spaces and utilization of energy more efficiently. The small wind power industry provides the facility of on-grid systems which are connected to a utility grid that is useful in providing electricity for domestic appliances and business purposes.

The outbreak of the COVID19 pandemic impacted the growth of the small wind power market value and worked as a prime restraint for the market. The lockdown measures restricted the production process and delayed several small wind power industry projects. During the pandemic, the global consumption of energy decreased, which hampered the small wind power market growth eventually.

Key Market Driver -

Increasing focus on adopting renewable resources as a prime power source

Key Market Restraint -

The negative demand for wind turbine due to COVID19 pandemic

Key Players Covered:

Major companies operating in the small wind turbine market include Northern Power Systems Inc., Bergey Wind Power Co., SD Wind Energy, Xzeres Wind Corp., Ryse Energy, Fortis Wind Energy, Kliux Energies, City Windmills Holdings PLC, Aeolos Wind Energy Co. Ltd., Qingdao Windwings Wind Turbine Co. Ltd., and Greenergy Technology Co.

Regional Analysis:

The small wind turbine market has been segregated into five key regions namely North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia-Pacific has dominated the wind power generation market in 2019 and is expected to continue its dominance in the coming years as well. The region holds vast potential for the expansion of the small wind turbine market, notably in the form of off-grid and residential-scale small wind turbines. The government of China has been encouraging the deployment of small wind power (SWP) technologies, since the early 1980s, and it is one of the few emerging economies to actively develop in this sector.

Europe emerged as the global leader with the small wind market. Germany and the U.K. held the maximum share in Europe, virtually dominating the market primarily owing to large-scale funding received by both countries cumulatively. North America market of small wind was trailing as the second-largest region in terms of both volume and revenue. However, apprehensions regarding market saturation by 2025 have saddled the market growth to a modest rate.

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Segmentation

Key Developments

• In January 2021, the Intergrid inverter which is being manufactured by Matric Limited of Seneca, Pennsylvania, under a 2020 CIP manufacturing innovation award bridges a gap in the distributed wind industry by delivering an interconnection-code-compliant inverter designed for use with wind technology that is compatible with other distributed energy technologies.


• In April 2020, a new type of wind turbine was launched, the device, which the researchers call an AeroMINE, can pull wind energy from a larger area than its turbine blades could on their own.