27 November 2019 - 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.
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.
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
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