Fatpos Global has released a report titled “Small Wind Turbine Market - Analysis of Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2031” which is anticipated to reach USD 0.3 billion by 2031. According to a study by Fatpos Global, the market is anticipated to portray a CAGR of 1.3% between 2021 and 2031. According to the report, the market is being driven by the growing demand for renewable energy sources and rapid industrialization has given the worldwide small wind market a much-needed boost. The global small wind market has also grown as a result of rising energy demand & increasing concerns about the environmental implications of fossil-fuel-based power generation.
The market report on global Small Wind Turbine Market includes in-depth insights as:
- The estimated value of the market was 0.2 billion in the year 2021.
- Global Small Wind Turbine in APAC held the largest market share in the year 2020.
- The global Small Wind Turbine market is classified based on Type into Horizontal Axis Wind Turbine and Vertical Axis Wind Turbine.
- Based on Application, the global Small Wind Turbine Market is fragmented into Off-grid and On-grid.
- Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.
“The global small wind turbine industry has seen huge opportunities all over the world as a result of rising consumer awareness regarding the use of renewable energy sources. Furthermore, the worldwide small wind turbine market is growing due to a rise in the need for renewable energy sources along with fast industrialization. Furthermore, the market has seen significant expansion in recent years, due to rising energy demand and rising concerns regarding the environmental implications of fossil-fuel-based power generation. Furthermore, government agencies have increased their spending in improving electricity generation by incorporating renewable energy sources, such as wind energy, which has aided market growth.”, said a lead analyst at Fatpos Global.
Small wind turbines include a wide range of models, from micro turbines to home turbines to mini turbines. The wind turbines' power ratings in these end-use applications range from a few watts to thousands of watts. Small wind turbines are those with a diameter of less than 15 meters. Although vertical-axis wind turbines have seen tremendous expansion in the worldwide small wind power industry, conventional wind turbines still account for the majority of small wind turbines.
The market is divided into two types: horizontal-axis wind turbines (HAWT) and vertical-axis winds turbine (VAWT). The main rotor shaft of vertical-axis wind turbines is positioned vertically. This increases the structural stability of wind turbines, which are typically located near heavily populated areas, lowering the chance of accidents. Apart from domestic applications, VAWTs are often utilized to power street lighting because they are small and attractive.
Key Players in the Market
Some of the key players operating in the global Small Wind Turbine Market are Aeolos Wind Energy Ltd., Bergey Wind Power Co., City Windmills Holdings PLC, Fortis Wind, SD Wind Energy, Kliux Energies, Northern Power Systems Inc., Shanghai Ghrepower Green Energy Co. Ltd, Xzeres Wind Corp., Ryse Energy, and Other Prominent Players.
Get Valuable Insights into the Global Small Wind Turbine Market
In the new report, Fatpos Global thrives to present an unbiased analysis of the global Small Wind Turbine Market that covers the historical demand data and the forecast figures for the period, i.e., 2021-2031. The study includes compelling insights into the growth that is witnessed in the market. The global Small Wind Turbine market is classified based on Type into Horizontal Axis Wind Turbine and Vertical Axis Wind Turbine. Based on Application, the global Small Wind Turbine Market is fragmented into Off-grid and On-grid. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific Middle East, and Africa.
