BERLIN, April 26, 2023 (GLOBE NEWSWIRE) -- The Global Vertical Axis Wind Turbine (VAWT) Market Size accounted for USD 12.9 Billion in 2022 and is projected to achieve a market size of USD 17.7 Billion by 2032 growing at a CAGR of 3.2% from 2023 to 2032.
Vertical Axis Wind Turbine Market Highlights and Statistics:
- The Global Vertical Axis Wind Turbine Market Size in 2022 stood at USD 12.9 Billion and is set to reach USD 17.7 Billion by 2032, growing at a CAGR of 3.2%
- The VAWT market is driven by factors such as increasing demand for renewable energy sources, rising energy costs, and government incentives and initiatives for the adoption of renewable energy.
- Asia-Pacific is expected to hold the largest share of the market during the forecast period, driven by the increasing demand for renewable energy sources in countries like China and India.
- Some of the key players in the VAWT market include ArborWind LLC, Bergey Windpower Co., Kingspan Group, LE-v50, Oy Windside Production Ltd., Ropatec Srl, Sauer Energy Inc., Urban Green Energy Inc., WindHarvest International, and XCO2 Ltd.
Request For Free Sample Report @ https://www.acumenresearchandconsulting.com/request-sample/3137
Vertical Axis Wind Turbine Market Report Coverage:
| Market | Vertical Axis Wind Turbine Market | |
| Vertical Axis Wind Turbine Market Size 2022 | USD 12.9 Billion | |
| Vertical Axis Wind Turbine Market Forecast 2032 | USD 17.7 Billion | |
| Vertical Axis Wind Turbine Market CAGR During 2023 - 2032 | 3.2% | |
| Vertical Axis Wind Turbine Market Analysis Period | 2020 - 2032 | |
| Vertical Axis Wind Turbine Market Base Year | 2022 | |
| Vertical Axis Wind Turbine Market Forecast Data | 2023 - 2032 | |
| Segments Covered | By Type, By Application, And By Geography | |
| Vertical Axis Wind Turbine Market Regional Scope | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa | |
| Key Companies Profiled | Urban Green Energy (UGE), Northern Power Systems, Aerovironment, Envergate Energy AG, Vortex Bladeless, Arborwind, Windspire Energy, SAWT Energy, Magenn Power, Quietrevolution, Helix Wind, and Oy Windside Production Ltd. | |
| Report Coverage | Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis | |
Vertical Axis Wind Turbine Market Overview:
Vertical Axis Wind Turbines (VAWTs) are a type of wind turbine where the rotor shaft is arranged vertically. The market is driven by factors such as increasing demand for renewable energy sources, rising energy costs, and government incentives for the adoption of renewable energy. The commercial sector is expected to hold the largest share of the market during the forecast period, while Asia-Pacific is expected to hold the largest regional share, driven by the increasing demand for renewable energy in countries including China and India. Key players in the VAWT market include ArborWind LLC, Bergey Windpower Co., and Sauer Energy Inc. As organizations continue to focus on reducing their carbon footprint and energy costs, the demand for VAWT solutions is expected to grow in the coming years.
Trends in the Vertical Axis Wind Turbine Market
- Emergence of hybrid VAWT systems that combine wind energy with solar and/or energy storage systems.
- Increasing adoption of small-scale VAWTs in urban areas, enabling individuals and businesses to generate their own renewable energy.
- Growing trend of distributed energy systems, driving the adoption of VAWT solutions that can manage decentralized energy production and storage.
- Increasing use of VAWT solutions in off-grid and remote areas, enabling reliable and cost-effective energy generation.
- Emergence of bladeless VAWT solutions, enabling efficient and low-noise energy generation.
- Growing focus on product innovation, leading to the development of new VAWT designs and materials that can increase efficiency and reduce costs.
- Increasing use of VAWTs in marine environments, enabling offshore energy generation and reducing dependence on fossil fuels.
Vertical Axis Wind Turbine Market Dynamics:
- Growing trend of microgrids, driving the adoption of VAWT solutions that can manage energy generation and storage within a small, localized grid.
- Adoption of VAWT solutions in the agriculture sector, enabling farms to generate renewable energy and reduce costs.
- Emergence of community wind power projects, enabling communities to invest in and benefit from renewable energy generation.
- Growing demand for VAWTs with low maintenance requirements, reducing downtime and maintenance costs.
- Adoption of VAWT solutions in the tourism sector, enabling sustainable energy generation and reducing carbon footprint.
- Increasing use of VAWTs in disaster-prone areas, enabling reliable energy generation during emergencies and power outages.
Growth Hampering Factors in the market for Vertical Axis Wind Turbine:
- High installation and maintenance costs, particularly for large-scale VAWT systems, which can be a barrier to entry for some organizations.
- Limited scalability of VAWT solutions, leading to challenges in meeting the energy demands of larger organizations and communities.
- Limited availability of suitable sites for VAWT installations, particularly in urban areas where space is limited.
- Dependence on wind patterns and weather conditions, leading to variability in energy generation and reduced reliability compared to other energy sources.
- Limited public awareness and understanding of VAWT solutions, leading to lower demand and slower adoption.
- Resistance from stakeholders, such as homeowners' associations and local communities, to VAWT installations due to aesthetic and noise concerns.
- Security concerns surrounding the storage and management of sensitive energy data in cloud-based VAWT solutions.
Check the detailed table of contents of the report @
https://www.acumenresearchandconsulting.com/table-of-content/vertical-axis-wind-turbine-market
Market Segmentation:
By Type
- Savonius
- Garomill
- Darrieus
By Application
- Industrial
- Commercial
- Residential
- Others
Vertical Axis Wind Turbine Market Overview by Region:
The Asia-Pacific region’s Vertical Axis Wind Turbine Market share is the largest, driven by the increasing demand for renewable energy sources and the growing focus on sustainable development. China and India are the largest markets for VAWT solutions in the region. The region is characterized by a mix of established players such as WindHarvest International and XCO2 Ltd., as well as emerging players such as Heion Wind Power and Mag-Wind Vertical Axis Turbine. The adoption of VAWT solutions is expected to continue growing in the region, driven by the increasing demand for energy and the need for cost-effective and sustainable energy sources.
North America’s Vertical Axis Wind Turbine market share is one of the highest and is growing at the fastest rate globally, driven by the increasing demand for renewable energy sources and government initiatives and incentives for their adoption. The United States is the largest market for VAWT solutions in North America, followed by Canada. The region is characterized by a mix of established players such as ArborWind LLC and Sauer Energy Inc., as well as emerging players such as V-Air Wind Technologies Inc. The commercial sector is expected to hold the largest share of the market in the region, driven by the increasing adoption of distributed energy systems and the need for energy optimization and cost reduction.
Europe is another key market for Vertical Axis Wind Turbine, driven by the increasing demand for renewable energy sources and the need for energy tracking and utilization management in industries such as manufacturing and transportation. Germany and the United Kingdom are the largest markets for VAWT solutions in Europe. The region is characterized by a mix of established players such as LE-v50 and Ropatec Srl, as well as emerging players such as BMT Aerospace International NV. The region is expected to continue growing in the coming years, driven by increasing government incentives for renewable energy adoption and the adoption of IoT and AI technologies in VAWT solutions.
The South American and MEA regions have a smaller albeit Vertical Axis Wind Turbine market share.
Buy this premium research report –
https://www.acumenresearchandconsulting.com/buy-now/0/3137
Vertical Axis Wind Turbine Market Key Players:
ArborWind LLC, Bergey Windpower Co., Kingspan Group, LE-v50, Oy Windside Production Ltd., Ropatec Srl, Sauer Energy Inc., Urban Green Energy Inc., WindHarvest International, XCO2 Ltd., V-Air Wind Technologies Inc., BMT Aerospace International NV, Heion Wind Power, Mag-Wind Vertical Axis Turbine, JRL Energy Inc., Northern Power Systems, Pika Energy, Ropower Inc., Turby BV and Zephyr Corporation.
Browse More Research Topic on Energy and Power Industries Related Reports:
The Energy Storage as a Service Market accounted for USD 1,230 Million in 2020 with a considerable CAGR of 9.8% throughout the forecast period from 2021 to 2028.
The Global Hydrogen Energy Storage Market Size accounted for USD 15.4 Billion in 2022 and is projected to achieve a market size of USD 27.6 Billion by 2032 growing at a CAGR of 6.1% from 2023 to 2032.
The Global Offshore Wind Energy Market is expected to reach USD 137 billion by 2030, with a CAGR of 19% between 2022 and 2030.
About Acumen Research and Consulting:
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact-based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
For Latest Update Follow Us on Twitter , Instagram and LinkedIn
Contact Us:
Mr. Richard Johnson
Acumen Research and Consulting
USA: +13474743864
India: +918983225533
E-mail: sales@acumenresearchandconsulting.com
