DUBLIN, April 16, 2024 (GLOBE NEWSWIRE) — The “Small Wind – Global Strategic Business Report” report has been added. ResearchAndMarkets.coms submission
The global small wind market will reach $2.3 billion by 2030
The global market for small wind is estimated at US$1.2 billion in the year 2023, is expected to reach a revised size of US$2.3 billion by 2030, growing at a CAGR of 8.9% during the analysis period 2023-2030.
The energy sector faces significant challenges due to the COVID-19 pandemic, particularly affecting the small wind sector. However, there are opportunities for growth in the post-pandemic power and energy sector.
Impact of pandemic on small wind market is analyzed along with competitive scenario and market share of global key competitors in 2023. Competitive market presence is classified as strong, active, niche or insignificant for players around the world. Global market opportunities and outlook for small wind market including sales breakdown by application, axis type and installation type are discussed.
Horizontal axis small wind turbine, one of the segments analyzed in the report, is expected to register a CAGR of 8.2% and reach US$1.6 billion by the end of the analysis period. Growth in the vertical axis small wind turbine segment is estimated at a CAGR of 10.7% for the next 8 years.
The US market is estimated at $175.3 million, while China is expected to grow at a CAGR of 12.3%.
Regional analysis provides insight into the distribution of sales between developed and developing regions with a specific focus on regional markets. An introduction to small wind including small wind turbines is provided followed by recent market activity updates.
The small wind market in the US is estimated at US$175.3 million in the year 2023. China, the world’s second largest economy, is expected to reach an estimated market size of US$776.5 million by 2030, a CAGR of 12.3%. The analysis period is 2023 to 2030. Other important geographic markets include Japan and Canada, each estimated to grow at 4.7% and 7.5%, respectively, during the period 2023-2030. In Europe, Germany is expected to grow at a CAGR of approximately 5.9%.
Key Features:
| Report attribute | Details |
| Number of pages | 472 |
| Reference period | 2023 – 2030 |
| Estimated Market Value in 2023 (USD). | $1.2 billion |
| Estimated market value by 2030 (USD). | $2.3 billion |
| Compound annual growth rate | 9.7% |
| Areas covered | the world |
Market overview
- Energy Sector: The Covid-19 pandemic brings many challenges to the small wind sector
- Global Energy Market Growth Outlook (in %) from 2019 to 2025F
- Opportunities for the Power & Energy Sector in a Post-Pandemic Era
- Impact of the pandemic on the small wind market
- Competitive scene
- Small Air – Percentage Market Share of Global Key Competitors in 2023 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Global Players in 2023
- Global Market Opportunities & Outlook
- World Small Wind Market by Application (2024 & 2030): Sales Percentage Breakdown for Commercial, Residential and Utilities
- Analysis by axis type
- World Small Wind Market by Axis Type (2024 & 2030): Horizontal and Vertical Sales Percentage Breakdown
- Analysis by type of installation
- World Small Wind Market by Installation Type (2024 & 2030): Sales Percentage Breakdown for Off-Grid and On-Grid
- Regional analysis
- Global Small Wind Market by Region (2024 & 2030): Sales Percentage Breakdown for Developed and Developing Regions
- World Small Wind Market – Geographical Regions Ranked by CAGR (Sales) 2023-2030: China, Asia-Pacific, Latin America, Middle East, Africa, Canada, USA, Europe and Japan
- A brief overview of selected regional markets
- An introduction to short wind
- Small wind turbines
- Recent market activity
Market Trends & Drivers
- Small wind turbines: A true blue-sky opportunity for clean, renewable energy
- Leading trends with the potential to shape the wind power industry
- Getting to the next level is a breeze with ongoing technological advancements
- Wind Energy to Turbocharge & Scale Greater Heights with Futuristic Innovations
- The impact of the pandemic on utilities will affect demand for small wind
- Power grid modernization implies upgrades in policy rules & infrastructure
- Global Investments in Power T&D Infrastructure by Region (in %) for 2020 and 2040
- Integrating wind energy into power grids to meet peak demand
- Targets for electricity generation from renewable energy sources in selected countries
- Increasing focus on renewable energy generation to drive market growth
- Increasing investments in expansion of power networks to drive growth
- Electricity demand patterns to drive growth
- Projected Global Demand for Electricity (MWh): 2015, 2025, & 2035
- Change in gross electricity demand in TWh for 2017-2050
- Global Primary Energy Consumption (Billion Toe): Growth Trajectory for the Period 1990-2040
- Global Energy Consumption (Billion Toe) by Country/Region (1995, 2017 and 2040): Breakdown for USA, China, India, Russia, Brazil, EU, Middle East and Rest of World
- Projected Global Power Generation Infrastructure Requirements (in US$ Billion) for China, India, Latin America and North America 2010-2030
- Rapid Urbanization: A Mega Growth Driver for Small Air
- World population (in thousands) by geographic region in 2018, 2025, 2040 and 2050
- World urban population in million and percentage of total population for the period 1950–2050
- Global Population Urbanization Rate (%) by Region/Country: 2016 & 2040
- Focus on increasing the contribution of renewable energy to the global energy mix
- Global Energy Mix: 1990 Vs 2020 Vs 2030
- Increased opportunity for energy-as-a-service in the renewable energy space
- The growing trend toward green/LEED buildings offers profitable opportunities for small wind
- Distributed generation offers opportunities for small wind systems
- Global Distributed Generation Market by Geographical Region (2024 & 2030) – Annual Revenue in US$ Million for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa
- Smart cities & smart grids increase opportunities for small wind
- Global Smart Grid Market (in US$ Billion) for 2021, 2023, 2025 and 2027
- Power Interruptions & Its Impact on Digital Enterprises Accelerating Deployment of Microgrids and Small Wind Systems
- Cost of load failures due to power outages/outages in US$ per hour by selecting a commercial activity
- Annual value lost due to power outages as a percentage (%) of sales of affected firms
- The Small Wind Market: Challenges
- Small wind turbines: key controls
Focus on select players(Total 95 featured)
- Intertech Group PLC
- Jacobs Wind Electric Company
- Fortis Wind BV
- Orchid International
- Bergey Windpower Company
- Cliques Energies International Inc.
- Marlek Engineering Co., Ltd.
- Phoshan Ouyad Electronic Co., Ltd.
- Leviathan Energy LLC
- Guangzhou HY Energy Technology Limited Corp.
- Energy Technology Center Limited.
- Northern Power Systems, Inc.
- Braun Wind Turbines GmbH
- Halo energy
- MOWEA GmbH
For more information about this report visit https://www.researchandmarkets.com/r/g394a5
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