Small Wind Market Size, Share & Trends Analysis Report By Application (Off Grid, On Grid), By Axis Type (Horizontal Axis, Vertical Axis), By Region And Segment Forecasts, 2022 - 2030

Report Overview

The global small wind market size was valued at over USD 1.10 billion in 2021 and is anticipated to exhibit a compound annual growth rate (CAGR) of 9.2% during the forecast period, owing to the 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 the adoption of renewable sources of energy is anticipated to drive the market. However, the increasing popularity of solar energy is perceived as a 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.

The COVID-19 pandemic hampered the growth of the market. This was attributed to multiple factors including a decrease in consumption of energy in commercial spaces due to strict lockdown imposed by the governments worldwide, the slowdown of the production process, and supply chain disruptions. Moreover, the lockdown resulted in the slowdown or postponement of small wind projects which restricted the market growth.

Axis Type & Application Insights

Horizontal axis wind turbines (HAWT) lead the segment by a large margin owing to the design being traditionally available over the past two centuries. 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 accounted for a share of 40.3% in 2021 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 2021, the off-grid segment registered a revenue share of 59.7% and is expected to measure growth over the forecast period owing to new, innovative technologies being introduced into the business with a view to modernizing the equipment installed. However, the off-grid segment will remain dominant owing to old installed turbines.

Regional Insights

Europe emerged as the global leader with a revenue share of 43.2% in 2021. Germany and the U.K. held the maximum share in Europe, 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 on the current boom in the industry as well as leverage their positions to become market leaders.

In 2021, the North America market of small wind was trailing as the second-largest region in terms of both volume and revenue. According to a 2021 U.S. Energy Information Administration report on Wind Energy, 9.2% of total U.S. utility-scale electricity energy is generated by wind energy.

Furthermore, Asia Pacific accounted for a 19.5% revenue share in the overall market for small wind in 2021 and is anticipated to register significant gains over the forecast period. The region is facing a 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. The Asia Pacific is anticipated to be the second-largest market during the forecast period.

Key Companies & Market Share Insights

The global small wind market is highly fragmented with numerous local and international companies. In 2021, Engie announced its partnership with Eocycle to provide a small wind turbine-like set of a range of fragmented green energy systems for users in Belgium. The EOX M-26 is a horizontal axis wind turbine with 51 meters a tip height and with 90kW turbine which produces energy of about 260 MWh annually.

The small wind manufacturers are focusing on innovative products at a competitive price and efficient grid connectivity which would help them increase their market share over the forecast period. Therefore, companies have made large investments in research and innovation of new, sleeker, and more efficient wind turbines, intending to augment their clientele. Some prominent players in the global small wind market include:

• Envergate Energy AG

• Kingspan Group

• Kliux Energies

• superwind GmbH

• Bergey Windpower Co.

• EOCYCLE

• Shanghai Zhiyuan Green Energy Co., Ltd.

• Northern Power Systems

• XZERES Corp.

Small Wind Market Report Scope

Segments Covered in the Report 

The report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest trends in each of the sub-segments from 2019 to 2030. For this study, Grand View Research has segmented the global small wind market report based on application, axis type, and region:

• Application Outlook (Volume, Megawatts; Revenue, USD Million, 2019 - 2030)

  • On-Grid

  • Off-Grid

• Axis Type Outlook (Volume, Megawatts; Revenue, USD Million, 2019 - 2030)

  • Horizontal Axis Wind Turbines

  • Vertical Axis Wind Turbines

• Region Outlook (Revenue, USD Million, 2019 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • Italy

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

  • South & Central America

    • Brazil

  • Middle East & Africa