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According to new report available with Million Insights, the factor that could be attributed to the growth include growing preference towards the acceptance of small wind turbines for generation of electricity
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.
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.
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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.
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Market Segment:
Leading players of Small Wind Turbines including:
• Northern Power Systems
• Primus Wind Power
• Ghrepower
• Ningbo WinPower
• Bergey wind power
• ZK Energy
• Polaris America
• Ogin, Inc.
• Renewtech
• Montanari Energy
• Turbina Energy AG
• Oulu
• Eocycle
• HY Energy
• S&W Energy Systems
• Kliux Energies
Market split by Type, can be divided into:
• Horizontal axis wind turbine
• Vertical axis wind turbine
Market split by Application, can be divided into:
• On-Grid
• Off-Grid
Market split by Sales Channel, can be divided into:
• Direct Channel
• Distribution Channel
Market segment by Region/Country including:
• North America (United States, Canada and Mexico)
• Europe (Germany, UK, France, Italy, Russia and Spain etc.)
• Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
• South America Brazil, Argentina, Colombia and Chile etc.)
• Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)
Related Reports of this Category available at Million Insights: https://www.millioninsights.com/industry/energy
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