Small Wind Market: Global Industry Analysis and Forecast (2023-2029)

Small Wind Market was valued at US$ 8.99 Bn. in 2022. Small Wind Market size is estimated to grow at a CAGR of 9.05%.
Small Wind Market Overview:
A small wind system is system which is linked to the electric grid through power provider. The system can stand alone (off-grid). The small wind electric system is a virtuous choice for rural areas, which are not already connected to the electric grid. A wind electric system consists of a wind turbine, which is mounted on a tower to deliver better access to stronger winds. With the addition to the turbine and tower, small wind electric systems also need balance-of-system components. It is one of the most cost-effective home-based renewable energy systems, which offers zero emissions and pollution.To know about the Research Methodology :- Request Free Sample Report

The small wind electric systems help to reduce the electricity bills by 50%–90% and support to avoid the high costs of having utility power lines extended to a remote location. It also helps uninterruptible power supplies ride through extended utility outages. The Small wind electric systems are used for a variety of other applications, like water pumping on farms and ranches. Wind is a clean and inexhaustible source of energy. It is attached on site and is a free resource. The resource has been tapped over centuries principally for grinding grain, pumping water, propelling ships and more recently for generating electricity.

Small wind turbines are turbines, which comes under 100 kW in rated capacity. Most small wind turbines are usually connected to the electrical system of a house or business. Small wind refers to small size turbines, which have a typical power between 500W and 25kW, and may be connected or not to the grid. Most manufacturers recommend a minimum average wind speed. Small-wind generation permits to strengthen the grid. Wind power is in generally reported to be very competitive with solar PV or bio-fuel.
Small Wind Market Dynamics:
Countless inventors are stepping up to integrate the latest and greatest green technologies, which helps to save the planet.

The usage of small-scale turbines is increasing to meet growing global energy demand. The demand in developing countries has been for the electrification of isolated areas where small wind turbines can be used in isolation for battery charging or in combination with other supply options. In the Asia Pacific and North America region, there are a number of countries such as China, Japan and the United States, which are encouraging the development of small-scale wind turbine generation by offering feed-in tariff incentives. Cost effectiveness of small wind turbines and growing adoption of renewable sources for energy generation across the globe are major factors driving growth of the global small wind market. Additionally, growing awareness among the individuals regarding use of renewable energy sources, and increasing investments by government to develop electricity generation by integrating renewable sources of energy such as wind energy are other factors anticipated to propel the growth of the market over the forecast period.

Most of the small wind market growth took place in only three countries: China, the USA and the UK. This proves that the global market for small wind turbines is still in its infancy. The better standards and certification are imperative for making small wind a success across the globe. Despite the there is no current mandatory requirement, the certification of SWTs is recommended to build trust among project investors and insurers. As consumer interest increased and new companies entered the sector, the small wind industry has demonstrated remarkable growth. Developing countries continue to play a minor role in small wind manufacturing. Small wind turbines are used for residential, commercial and industrial applications. The versatility is a major advantage of the small wind energy systems. Small wind turbines depend on the cost of the technology, the enactment of supportive policies and economic incentives, fossil-fuel prices, investor interest, consumer awareness, certification and quality assurance, permitting processes and regulations, and wind evaluation tools.
Small Wind Market Segment Analysis:
By Installation Type, the off-grid installation segment of the small wind market is anticipated to account for 60.11 % of the global market share in 2029. The demand for off-grid wind turbines can be attributed to the long-standing conventional methods of binding this energy for electrification, though, this segment is set to observe a decline due to the government initiatives launched to boost grid connectivity. Such regulatory initiatives will boost the on-grid segment of small wind market over the forecast period. The main players of small wind market implement diverse strategies such as expansions, agreements, contracts, joint ventures, and partnerships to garner a larger share in the market. The prominent small wind market players are focusing on countries with developing markets that are projected to show potential for industrial development in the future.

Small domestic wind turbines are expected to contribute maximum share in the market during the forecast period. The manufacturers promote for their compact domestic wind turbine is that it is safer for children. Small turbines are available in the market in the range in size from 20 Watts to 100 kilowatts (kW). The smaller turbines are used in applications such as charging batteries for recreational vehicles and sailboats. Wind energy has been used for centuries to pump water and grind grain. Turbines used in residential applications can range in size from 400 Watts to 100 kW (100 kW for very large loads). It is depending on the amount of electricity end user want to generate. Installation costs of the wind turbine vary greatly depending on local zoning, permitting, and utility interconnection costs.

Strict government regulations towards constraining the growth of carbon footprint and financial benefit offered to increase the adoption of renewable sources of energy is expected to drive the market growth in the near future.
Small Wind Market Regional Insights:
UK regulations Insight for small wind power:

Key Players operating in the market have to follow requirements like Compile checklist, submit a certification by accredited body, provide adequate label and Planning permission may be needed depending on mast height and depending upon the specific countries’ legislation. Certain sites are restricted due to visual impact and Specific documentation must be provided to customer. The report gives the clear representation of the Electrical requirements, mechanical requirements in details.

USA regulations Insight for small wind power:

Most manufacturers recommend a minimum average wind speed at the site of 4.5m/s to 5m/s for wind to be viable. The area must be clear of obstacles and well exposed. Obstacles will reduce the effective wind speed and/or cause turbulence. The distance to the supply should be kept relatively small to minimise installation costs and losses. Usually within about 500m. The turbine must also be at a minimum distance from any building or even areas. It is driven by safety requirements.

In the USA, 42 states had utility-scale wind power projects, which together generated a total of about 380 billion kilowatt-hours (kWh) in 2022. The five states, which had the most electricity generation from wind in 2022 were Texas, Iowa, Oklahoma, Kansas, and Illinois. It also produced about 56% of total U.S. wind electricity generation in the same year.

The top five countries in wind electricity generation:India is Emerging Market

Wind is an intermittent and site-specific resource of energy in the country. India’s wind energy sector is driven by indigenous wind power industry. The expansion of the wind industry has resulted in an ecosystem, project operation capabilities and manufacturing base of about 10,000 MW per annum. The country currently is the fourth highest wind installed capacity in the world. The country has total installed capacity of 39.25 GW and has generated around 60.149 billion Units during 2020-21. The energy from wind is an adaptive and flexible option for generating sustainable electricity. It is popular in farmhouses, remote and rural areas, telecommunication towers, houses and tall buildings, operating as standalone or grid connected units. In India, the current installed capacity of both small wind turbines and small wind-solar hybrid systems is not more than 3.3 MW.

Maharashtra and Andhra Pradesh are the states with higher installed capacity than Tamil Nadu. The Maharashtra have higher installations because of an active off-grid power generation programme. It includes small wind energy systems and the availability of supporting regulations for rooftop renewable energy generation.

Many of the major small wind turbines suppliers are also located in Maharashtra, which helps to reduce lead times and fast-tracking the installation process. It also ensures timely servicing and maintenance of the turbines, and increasing their overall life and popularity.

Small wind turbines have to be positioned competitively in the market to enable seamless purchase, installation and maintenance. Local technicians are required to be upskilled with small wind specific training programmes. Business models has to be explored where the manufacturer owns and maintains the machines, selling the electricity generated to the user.

The Government is promoting wind power projects in entire country through private sector investment by providing various fiscal and financial incentives. The Government has installed over 800 wind-monitoring stations all over country through National Institute of Wind Energy (NIWE) and issued wind potential maps at 50m, 80m, 100m and 120m above ground level. The government has also have been taken steps to promote installation of wind capacity in the country:

1. Technical support, which includes wind resource assessment and identification of potential sites through the National Institute of Wind Energy, Chennai.
2. The inter-state transmission charges and losses have been waived off for wind and solar projects
3. Guidelines for Tariff Based Competitive Bidding Process for Procurement of Power from Grid Connected Wind Power Projects with an objective to provide a framework for procurement of wind power through a transparent process of bidding.

The objective of the report is to present a comprehensive analysis of the global Small Wind Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Small Wind Market dynamic, structure by analyzing the market segments and projecting the Small Wind Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Small Wind Market make the report investor’s guide.
Small Wind Market Scope: Inquiry Before Buying



Small Wind Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 8.99 Bn.


Forecast Period 2023 to 2029 CAGR:
9.05%
Market Size in 2029:
US $ 16.5 Bn.


 Segments Covered:
by Type
Horizontal Axis Wind Turbine
Vertical Axis Wind Turbine


by Installation Type
On-Grid
Off-Grid


by Application
Domestic
Small-Scale Industries
Commercial



Small Wind Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Small Wind Market Key Players are:
1. Northern Power Systems Corp. (U.S.)
2. Bergey Wind Power Co. Inc. (U.S.)
3. XZERES Wind Corporation (U.S.)
4. Eocycle Technologies Inc. (Canada)
5. Endurance Wind Power Inc. (Canada)
6. Kingspan Group Plc. (Ireland)
7. City Windmills Holdings PLC (U.K.)
8. Aeolos Wind Energy Ltd (U.K.)
9. S.L. (Spain)
10.Ennera Energy and Mobility (Spain)
11.ENVERGATE ENERGY AG (Switzerland)
12.Guangzhou HY Energy Technology Co. Ltd (China)
13.Shanghai Ghrepower Green Energy Co. Ltd (China)

Frequently Asked Questions:

1] What segments are covered in the Small Wind Market report?
Ans. The segments covered in the Small Wind Market report are based on Type, Installation Type and Application.

2] Which region is expected to hold the highest share in the Small Wind Market?
Ans. The Asia Pacific region is expected to hold the highest share in the Small Wind Market.

3] What is the market size of the Small Wind Market by 2029?
Ans. The market size of the Small Wind Market by 2029 is US$ 16.5 Bn.

4] What is the forecast period for the Small Wind Market?
Ans. The forecast period for the Small Wind Market is 2023-2029.

5] What was the market size of the Small Wind Market in 2022?
Ans. The market size of the Small Wind Market in 2022 was US$ 8.99 Bn.