Dublin, April 16, 2024 (GLOBE NEWSWIRE) -- The "Small Wind - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Small Wind Market to Reach $2.3 Billion by 2030
The global market for Small Wind estimated at US$1.2 Billion in the year 2023, is projected to reach a revised size of US$2.3 Billion by 2030, growing at a CAGR of 8.9% over the analysis period 2023-2030.
The energy sector faces significant challenges due to the COVID-19 pandemic, particularly impacting the small wind sector. Despite this, there are opportunities for growth in the power and energy sector post-pandemic.
The pandemic's impact on the small wind market is analyzed, alongside the competitive scenario and the global key competitors' market share in 2023. The competitive market presence is categorized into strong, active, niche, or trivial for players worldwide. Global market prospects and outlook are discussed, including sales breakdown by application, axis type, and installation type for the small wind market.
Horizontal Axis Small Wind Turbine, one of the segments analyzed in the report, is projected to record 8.2% CAGR 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 10.7% CAGR for the next 8-year period.
The U.S. Market is Estimated at $175.3 Million, While China is Forecast to Grow at 12.3% CAGR
Regional analysis provides insight into sales distribution between developed and developing regions, with 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 U.S. is estimated at US$175.3 Million in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$776.5 Million by the year 2030 trailing a CAGR of 12.3% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 7.5% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 5.9% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 472 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $1.2 Billion |
| Forecasted Market Value (USD) by 2030 | $2.3 Billion |
| Compound Annual Growth Rate | 9.7% |
| Regions Covered | Global |
MARKET OVERVIEW
- Energy Sector: COVID-19 Pandemic Brings Numerous Challenges to Small Wind Sector
- Global Energy Market Growth Outlook (In %) for Years 2019 through 2025F
- Opportunities for the Power & Energy Sector in the Post-Pandemic Era
- Impact of the Pandemic on Small Wind Market
- Competitive Scenario
- Small Wind - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Global Market Prospects & Outlook
- World Small Wind Market by Application (2024 & 2030): Percentage Breakdown of Sales for Commercial, Residential, and Utilities
- Analysis by Axis Type
- World Small Wind Market by Axis Type (2024 & 2030): Percentage Breakdown of Sales for Horizontal, and Vertical
- Analysis by Installation Type
- World Small Wind Market by Installation Type (2024 & 2030): Percentage Breakdown of Sales for Off-Grid, and On-Grid
- Regional Analysis
- World Small Wind Market by Region (2024 & 2030): Percentage Breakdown of Sales for Developed and Developing Regions
- World Small Wind Market - Geographic Regions Ranked by CAGR (Sales) for 2023-2030: China, Asia-Pacific, Latin America, Middle East, Africa, Canada, USA, Europe, and Japan
- Brief Overview of Select Regional Markets
- An Introduction to Small Wind
- Small Wind Turbines
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Small Wind Turbines: Real Blue-Sky Opportunity for Clean, Renewable Energy
- Prominent Trends with Potential to Shape Wind Power Industry
- Small Wind to Attain Next Level with Ongoing Technological Advances
- Wind Energy to Get Turbocharged & Scale Greater Heights with Futuristic Innovations
- Pandemic's Impact on Utilities Affects Demand for Small Wind
- Power Grid Modernization Implies Upgrades in Policy Regimes & Infrastructure
- Global Investments into Power T&D Infrastructure by Region (in %) for 2020 and 2040
- Integrating Wind Energy in Power Grids to Meet Peak Demand
- Targets for Electricity Production from Renewable Energy Sources in Select Countries
- Increasing Focus on Renewable Energy Production to Drive Market Growth
- Rising 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
- Estimated Global Power Generation Infrastructure Requirement (in US$ Billion) for China, India, Latin America, and North America over the Period 2010-2030
- Rapid Urbanization: A Mega Growth Driver for Small Wind
- World Population (in Thousands) by Geographic Region for the Years 2018, 2025, 2040, and 2050
- World Urban Population in Million and as Percentage of Total Population for the Period 1950-2050
- World Population Urbanization Rate (%) by Region/Country: 2016 & 2040
- Focus on Increasing Renewable Energy Contribution to Global Energy Mix Augurs Well for Small Wind Market
- Global Energy Mix: 1990 Vs 2020 Vs 2030
- Increased Opportunity for Energy-as-a-Service in Renewable Energy Space
- Growing Trend Towards Green/LEED Buildings Offer Lucrative Opportunities for Small Wind
- Distributed Generation Offers Opportunities for Small Wind Systems
- World Distributed Generation Market by Geographic Region (2024 & 2030) - Annual Revenues in US$ Million for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa
- Smart Cities & Smart Grids Elevate the Prospects for Small Wind
- Global Smart Grid Market (In US$ Billion) for Years 2021, 2023, 2025 and 2027
- Power Outages & Its Impact on Digitalized Enterprises Spurs Establishment of Microgrids and Small Wind Systems
- Cost of Load Failures Due to Power Disruptions/Outages in US$ Per Hour by Select Commercial Activity
- Annual Value Lost Due to Electrical Outages as a Percentage (%) of Sales of Affected Firms
- Small Wind Market: Challenges
- Small Wind Turbines: Key Restraints
FOCUS ON SELECT PLAYERS(Total 95 Featured)
- Intertek Group PLC
- Jacobs Wind Electric Company
- Fortis Wind BV
- Orchid International
- Bergey WindPower Company
- Kliux Energies International Inc.
- Marlec Engineering Co., Ltd.
- Foshan Ouyad Electronic Co., Ltd.
- Leviathan Energy LLC
- Guangzhou HY Energy Technology Limited Corp.
- Energy Technology Centre Ltd.
- Northern Power Systems, Inc.
- Braun Windturbinen GmbH
- Halo Energy
- MOWEA GmbH
For more information about this report visit https://www.researchandmarkets.com/r/g394a5
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