Small Wind Market Report

Small Wind Market Analysis, By Application (Off grid, On grid), By Axis Type (Horizontal Axis, Vertical Axis), By Region (North America, Europe, Asia Pacific, South & Central America and MEA) And Segment Forecasts, 2014 - 2025

Published: July 2017  |  114 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-953-1

Industry Insights

The small wind market size was valued over USD 530 million in 2016 and is anticipated to grow at over 14% by 2025 owing to global energy crisis coupled with depleting non-renewable resources for electricity generation. Stringent government regulations towards restricting the growth of carbon footprint along with financial benefits offered to augment adoption of renewable sources of energy is anticipated to drive the market. However, increasing popularity of solar energy is perceived as threat to wind energy owing to its competitive pricing and easy availability of components. Growing awareness in developed regions including Europe and North America along with developing regions of Asia Pacific is anticipated to drive business growth.

U.S. small wind market revenue, by axis type, 2014 - 2025, (USD Million)

U.S. small wind market

Axis type & Application insights

Horizontal axis wind turbines (HAWT) leads the segment by a large margin owing to the design being traditionally available for over the past two centuries. In 2016, HAWT accounted for over 95 MW in terms of volume. The segment is expected to witness strong growth over the forecast period owing to ease in installation coupled with easy availability of components. Vertical axis wind turbines (VAWT) are anticipated to register exponential growth over the forecast period owing to affordable pricing coupled with numerous environmental benefits offered by the design. 

The on-grid segment is predicted to exceed USD 190 million in 2025 owing to the government initiatives towards enhancing grid connectivity in the small wind sector. Numerous financial and economic benefits offered by regulators including Production Tax Credits, Investment Tax Credits and Feed in Tariffs will augment the market of small wind growth over the forecast period.

In 2016, off-grid segment was valued over USD 35 million and is anticipated to register measured growth over the forecast period owing to new, innovative technologies being introduced into the business with a view to modernize the equipment installed. However, off-grid segment will remain dominant owing to old installed turbines.

Global small winds market revenue, by application, 2016 (%)

Global small wind market

Regional insights

Europe emerged as the global leader with over 42% of the small wind market. Germany and UK held the maximum share in the Europe region, virtually dominating the market primarily owing to large scale funding received by both countries cumulatively. Numerous manufacturers have set up regional offices along with production facilities in these countries to capitalize the current boom in the industry as well as leverage their positions to become market leaders.

In 2016, 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 has saddled the market growth to a modest rate. According to a 2015 Department of Energy report on Wind Energy, 80% of small wind turbines manufactured in the country are being exported to Europe.

Asia Pacific market of small wind was valued over USD 90 million in 2016 and is anticipated to register maximum gain over the forecast period. The region is facing large scale energy crisis which is expected to intensify in the foreseeable future owing to fast depleting resources. In this crucial situation, affordable renewable energy sources are being considered the future of the energy sector. Asia Pacific is anticipated to be the second largest market during the forecast period.

Competitive insights

Key players in the small wind market include Envergate, Kingspan Wind, Kliux Energies, Superwind, Bergey Windpower Co., Eocycle Technologies, Shanghai Ghrepower Green Energy, Northern Power Systems, Xzeres Wind Corporation among others. The market is highly fragmented with numerous local and international companies.

The small wind manufacturers are focusing on innovative products at competitive price and efficient grid connectivity which would help them increase their market share over the forecast period. Therefore, companies have made large investments towards research and innovation of new, sleeker and more efficient wind turbines, with an aim to augment its clientele.

Report Scope

Attribute

Details

Base year for estimation

2016

Actual /Historic data

2014 & 2015

Forecast period

2017 - 2025

Market representation

Volume in Megawatts, Revenue in USD Million and CAGR from 2017 to 2025

Regional scope

North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa

Country scope

U.S., Canada, UK, Germany, Italy, China, India, Japan, South Korea, Brazil

Report coverage

Volume forecast, revenue forecast, competitive landscape, growth factors and trends

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Segments covered in the report

This report forecasts revenue growth at global, regional & country levels and provides an analysis on the latest trends and opportunities in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the small wind market on the basis of product, and region:

  • Application Outlook (Volume, Megawatts, 2014 - 2025) (Revenue, USD Million, 2014 - 2025)

    • On Grid

    • Off Grid

  • Axis Type Outlook (Volume, Megawatts, 2014 - 2025)(Revenue, USD Million, 2014 - 2025)

    • Horizontal Axis Wind Turbines

    • Vertical Axis Wind Turbines

  • Regional Outlook (Volume, Megawatts, 2014 - 2025) (Revenue, USD Million, 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • UK

      • Germany

      • Italy

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

    • South & Central America

      • Brazil

    • Middle East and Africa
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