Global Small Wind Power Market by Grid Connectivity, By Axis by Region | Expanding at CAGR of 14.38% percent – Global Forecast to 2023.

Market Highlights

Small wind turbines are used to power remote or off-grid applications such as homes, farms, refuges or beacons. On the basis of region, Europe accounted for the largest market share of 41.32% in 2016, with a market value of USD 1,440.2 million and is projected to grow at CAGR of 13.98% during the forecast period. In many countries such as Japan and EU countries, policies such as feed-in tariffs, net metering, tax credits, and capital subsidies are the major energy policies geared, specifically, towards small wind. The small wind power sector has benefited particularly from the growing global trend of feed-in tariffs (FITs). Moreover, adoption of small winds in several commercial applications & rural households also fuel the growth of the market. However, high initial cost and fluctuating prices of raw materials may hamper the growth of the market.

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 Key Players

  • Kingspan Group Plc.
  • Northern Power Systems Corp.
  • Bergey Wind Power Co. Inc.
  • Ennera Energy and Mobility, S.L.
  • Eocycle Technologies Inc.
  • Shanghai Ghrepower Green Energy Co., Ltd

Scope of the Report

This study provides an overview of the global small wind power market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for Americas, Europe, Asia Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global small wind power market by its grid connectivity, axis and region.

Global Small Wind Powers Market, By Grid Connectivity

  • On-Grid
  • Off-Grid

Global Small Wind Powers Market, By Axis

  • Horizontal Axis
  • Vertical Axis

Global Small Wind Powers Market, By Region

  • Americas
  • Europe
  • Asia Pacific
  • Middle East & Africa

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Market Research Analysis

Based on axis, horizontal axis accounted for the largest market share of 65.07% in 2016, with a market value of USD 2,267.9 million and is projected to grow at a CAGR of 13.03% during the forecast period. Vertical axis was the second-largest market in 2016, valued at USD 1,217.5 million. Vertical axis turbines are powered by wind coming from all 360 degrees, and even some turbines are powered when the wind blows from top to bottom. Thus, Vertical axis wind turbines are ideal for installations where wind conditions are not consistent, or due to public ordinances the turbine cannot be placed high enough to benefit from steady wind. Vertical wind turbines were applied for urban and low noise area.

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