Small Wind Market
Small Wind Market Analysis by Horizontal and Vertical Axis for Commercial, Residential, and Utilities from 2023 to 2033
Analysis of Small Wind Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Small Wind Market Outlook (2023 to 2033)
The global small wind market is valued at US$ 1.21 billion in 2023. The market is projected to expand at a stellar CAGR of 10.3% and reach a size of US$ 3.23 billion by 2033-end, according to the latest study by Fact.MR
Increasing global energy crisis and the depletion of non-renewable resources to generate electricity are predicted to contribute to the growing demand for small wind systems. Various government regulations are also implemented to restrict carbon footprints to attain the objective of sustainability, which is also predicted to lead to increased adoption of small wind systems.
- Sales of horizontal axis-based small wind systems are forecasted to accelerate at a CAGR of 9.4% and reach US$ 1.7 billion by 2033-end.
- Demand for small wind systems in the United States is estimated at a market value of US$ 164 million in 2023.
There are numerous benefits associated with the installation of small wind systems due to their environmental benefits. Manufacturers are aiming to locate their facilities in close proximity to target end-use markets to meet regulatory conditions and reduce transportation costs.
Small wind systems are connected through power providers to the electric grid or they can also be installed off-grid. These systems are an effective option for rural areas that do not have electricity grids.
In recent years, there has been a significant increase in the demand for electricity around the world. This demand is owing to the deeper penetration of electricity as one of the significant resources required for residential and commercial sectors. Moreover, growing industrialization is leading to increased production across industries.
Wind power ensures a significant expansion in local employment and funding. It is a clean, cost-effective fuel source and sustainable and can be employed locally. It is easy to construct wind turbines on existing farms.
A thorough analysis of numerous aspects of small wind systems is included in the industry research report, published by Fact.MR, a market research and competitive intelligence provider. A regional analysis, new product launches, growth opportunities, key obstacles, and some other related aspects are also incorporated in the market research report.
| Report Attributes | Details |
|---|---|
|
Small Wind Market Size (2022) |
US$ 1.11 Billion |
|
Estimated Market Value (2023) |
US$ 1.21 Billion |
|
Forecasted Market Value (2033) |
US$ 3.23 Billion |
|
Global Market Growth Rate (2023 to 2033) |
10.3% CAGR |
|
Demand Growth of Horizontal Small Wind Systems (2023 to 2033) |
7.5% CAGR |
|
United States Market Value (2023) |
US$ 164 Million |
|
Japan Market Growth Rate (2023 to 2033) |
5.5% CAGR |
|
Key Companies Profiled |
|
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How are Small Wind Technology Suppliers Benefiting in Recent Years?
“Growing Demand for Small Wind Systems Due to Their Cost-effectiveness and Environment-friendly Features”
A small wind system is a cost-effective renewable energy system suitable for home-based applications. It generates zero emissions and pollution. However, the effective functioning of small wind systems requires specific conditions to be met, such as ample wind availability, sufficient space, and permission to erect tall towers in rural areas or neighborhoods.
- According to the Department of Energy in the United States, small wind systems are used to reduce the amount of electricity by 50% to 90%. They are also helpful for avoiding the higher investment in various other applications that include water pumping on ranches and farms.
Wind energy sources do not contaminate the surrounding air like fossil fuels, including oil, natural gas, or coal. These elements release particulate elements that are nitrogen oxides, sulfur dioxide, etc., and have adverse effects on human health. Wind turbines are not responsible for any sort of atmospheric emissions that can lead to smog, greenhouse gases, or acid rain.
Constructing wind turbines on existing farms offers the potential to generate profits and bolster the economies of rural areas. Ranchers and farmers can continue their work on their respective lands as turbines employ only a portion of the farmland and can get additional income in the form of rent for power plants.
“Government Initiatives Encouraging Commercial Units to Adopt Small Wind Turbines for Power Generation”
Governments from different countries around the world are offering various incentives and numerous energy-saving certificates as part of their initiatives to boost the adoption of small wind systems. They are also encouraging numerous commercial units for the adoption of power generation facilities, including turbines.
In recent years, global concerns about pollution have escalated due to the rapid pace of industrialization. Increased production of various goods and products has resulted in a higher demand for electricity, directly contributing to pollution levels. Therefore, manufacturers from different end-use sectors are looking for sustainable as well as economic options for renewable energy, including small wind systems.
What are the Issues Small Wind Suppliers Need to Tackle?
“Preference for Solar Energy over Wind Energy Systems Due to Cost-effectiveness of Photovoltaic Systems”
In recent years, demand for solar energy has increased significantly worldwide. Many consumers are opting for solar energy systems due to the ease of access to the required components. Additionally, the competitive pricing of solar energy systems is posing a threat to the demand for small wind systems.
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What are the Market Opportunities That Start-ups Can Capitalize On?
“Producing Cost-effective Components for Wind Energy Systems”
New companies are estimated to invest in the production of more cost-effective components required for the installation of small wind systems. Although small wind is economical compared to conventional resources, the cost-effectiveness of solar energy systems is creating some hurdles for the adoption of small wind systems. Therefore, manufacturers are projected to invest in the production of user-friendly products.
Country-wise Insights
What is the Demand Projection for Small Wind Systems in the United States?
“Growing Use of Small Wind Systems in Generation of Utility-Scale Electricity”
The United States market stands at a value of US$ 164 million in 2023.
- In 2021, the United States Energy Information Administration published a research report on Wind Energy. The report revealed that wind energy accounts for a total of 9.2% of utility-scale electricity generation in the United States.
Why are the United Kingdom and Germany Predicted to be Profitable Markets for Small Wind System Suppliers?
“Increasing Government Funding to Support Expansion Wind Energy Production Facilities”
The United Kingdom and Germany are predicted to hold a significant share of the European market over the forecast period. The governments of these countries have received substantial funding to expand their wind energy production facilities, creating growth opportunities in the market. Leading industry players are also taking advantage of these opportunities by establishing regional offices and production facilities in the region.
How is Demand for Small Wind Systems Evolving in India, China, and Japan?
“Government Incentives Boosting Adoption of Small Wind Systems for Power Generation”
The large-scale energy crisis experienced in India, China, and Japan is generating opportunities for small wind system suppliers. In addition, various government initiatives, such as energy-saving certificates and incentives in China and India, are expected to encourage commercial units to adopt small wind turbines for power generation.
The Japanese market is projected to expand at a CAGR of 5.5% from 2023 to 2033.
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Category-wise Insights
Why are Horizontal Axis-based Small Wind Systems Most Widely Used?
“Easy Installation and Economical Prices of Horizontal Small Wind Systems”
Based on axis type, the global market is segmented into horizontal and vertical small wind systems. Demand for horizontal small wind systems is projected to rise at a CAGR of 9.4% and reach a valuation of US$ 1.7 billion by the end of 2033.
The easy installation process of horizontal systems is predicted to boost their demand around the world. In addition, compared to other available options, including vertical systems, these horizontal systems are economical. Further, there are several environmental benefits associated with horizontal small wind systems. Easy availability of designs of horizontal systems is offering lucrative opportunities.
Why is On-grid Installation of Small Wind Systems Projected to Be More Popular?
“Rising Environmental Concerns Fueling More On-grid Installation of Small Wind Systems”
On-grid installation of small wind systems held 40.5% of the global market in 2022.
Increasing government initiatives aimed at enhancing grid connectivity in various small wind units are contributing to the growing trend. Additionally, the availability of various financial benefits provided by regulators, such as investment tax credits, production tax credits, and feed-in tariffs, is further boosting product sales. Moreover, the rising environmental concerns are expected to create even more opportunities for the small wind industry.
What Makes the Commercial Sector a Significant Contributor to the Rising Sales of Small Wind Systems?
“Increased Need for Electricity Production Driven by Rapid Industrialization”
The commercial sector is forecasted to contribute to the demand for small wind systems. Rapid expansion of infrastructure and growth of industrialization are driving an increase in the production of various products and services across industries. This surge in demand for electricity is further bolstering the adoption of small wind systems as a sustainable and eco-friendly energy solution.
Key Market Players
Prominent companies are increasing their expenditure to strengthen supply chain management systems, maintain product standards, ensure quality control, and other purposes.
Key players in the global small wind market include Intertek Group PLC, Fortis Wind BV, Jacobs Wind Electric Company, Orchid International, Kliux Energies International Inc., Nerfey WindPower Company, Marlec Engineering Co., Ltd., Leviathan Energy LLC, Foshan Ouyad Electronic Co., Ltd., Energy Technology Centre Ltd., Guangzhou HY Energy Technology Limited Corp., Northern Power Systems, Inc., MOWEA GmbH, Halo Energy, and Braun Windturbinen GmbH.
Segmentation of Small Wind Industry Research
-
By Axis Type :
- Horizontal
- Vertical
-
By Installation :
- Off-grid
- On-grid
-
By Application :
- Commercial
- Residential
- Utilities
-
By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
What was the valuation of the small wind market in 2022?
The global small wind market was valued at US$ 1.11 billion in 2022.
How much is the small wind market currently valued?
The market for small wind stands at US$ 1.21 billion in 2023.
At what rate is the demand for small wind forecasted to rise?
Demand for small wind systems is set to rise at 10.3% CAGR through 2033.
What is the current valuation of the United States market?
The United States market is valued at US$ 164 million in 2023.
What is the predicted growth rate for the demand for horizontal axis-based systems?
Sales of horizontal-based small wind systems are projected to rise at 7.5% CAGR through 2033.
At what rate are the sales of small wind systems forecasted to increase in Japan?
Sales of small wind systems in Japan are predicted to increase at a CAGR of 5.5% from 2023 to 2033.
What is the estimated valuation of the global market for 2033-end?
The global market for small wind is set to reach US$ 3.23 billion by the end of 2033.
Small Wind Market
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