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Residential Wind Power System

  • Installation of wind turbines has increased significantly over the last few years. Wind turbines provide cleaner and cheaper energy vis-à-vis fossil fuel. As a result, demand for wind turbines has been rising across the globe.
  • Residential wind power systems are ideal for on-site energy generation in households, communities, farms, and small businesses. Demand for residential wind turbines has been rising at a rapid pace since the last decade.
  • Residential wind power systems consist of horizontal axis and vertical axis wind turbines. Horizontal axis wind turbines are used in houses and farms that are far away from the downtown area. On the other hand, vertical axis wind turbines are popular in urban areas and rooftops of buildings.

Key Drivers of Global Residential Wind Power System Market

  • Rise in industrialization and urbanization is boosting the demand for energy across the globe. Investments in renewable energy sources have also been rising at a rapid pace across the globe. This is driving the global residential wind power system market.
  • Rise in government initiatives to promote wind energy in rural areas is also anticipated to propel the demand for residential wind power systems in the near future

COVID-19 Impact Analysis

  • The COVID-19 pandemic has disrupted planned installation of residential wind turbines. It has hampered the supply of raw materials and labor in the market. Ongoing renewable projects are at a standstill due to unavailability of labor, while new projects are being delayed. Most manufacturers are focused on the adoption of new strategies to reform their business models.

Key Development

  • In July 2019, BORNAY AEROGENERADORES, SL. introduced its latest WIND+ range of small wind turbines. The new Wind+ range is equipped with permanent magnet neodymium alternator to a single output voltage of 220 Vac for any application, thus providing maximum efficiency equipment. The company also introduced a new machine control system, which incorporates voltage control and rpm, ensuring ideal machine control, while substantially improving the efficiency of the wind turbine.

 Asia Pacific to Hold Major Share of Global Residential Wind Power System Market

  • Based on region, the global residential wind power system market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Europe dominated the global residential wind power system market in 2020, owing to high investment in the renewable energy sector. Countries in the region are focused on generation of energy via renewable sources in order to achieve the renewable energy target. Investments in offshore wind energy are also rising in Europe.
  • North America is likely to account for vital share of the global residential wind power system market during the forecast period. The region is investing significantly in various sources of renewable energy. After China, the U.S. has the largest installed base of wind energy in the world.
  • Asia Pacific is anticipated to be a highly attractive region of the market during the forecast period, owing to significant investment in the wind energy in the region. Investments in the renewable energy sector are increasing at a rapid pace in countries such as China, India, and Japan in Asia Pacific. This is anticipated to drive the market in the region. China has the highest installed base of wind power in the world.
  • The market in Middle East & Africa is expected to expand at a healthy pace during the forecast period. The region is focusing on development of the renewable energy sector.
  • The market in Latin America is likely to be expand at a sluggish pace during the forecast period owing to low investments in the renewable sector in the region

Key Players Operating in Market

Major players operating in the global residential wind power system market include:

  • Aeolos Wind Energy Ltd
  • Revayu Energy
  • Unitron Energy
  • Urban Green Energy
  • Bergey Windpower Co.
  • Britwind
  • Marlec 
  • Pryme Group Holdings Limited
  • Renewable Devices
  • Fortis Wind
  • Gaia Wind
  • Aventa AG

Global Residential Wind Power System Market: Research Scope

Global Residential Wind Power System Market, by Axis

  • Horizontal Axis Residential Wind Turbine
  • Vertical Axis Residential Wind Turbine

Global Residential Wind Power System Market, by Type

  • Micro Residential Wind Turbine
  • Small Residential Wind Turbine

Global Residential Wind Power System Market, by Application

  • On-grid
  • Off-grid

Global Residential Wind Power System Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • France
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Australia
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Venezuela
    • Rest of Latin America
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Qatar
    • Nigeria
    • Rest of Middle East & Africa

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Residential Wind Power System Market

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