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COVID-19 Restrictions on Manufacturing Lead to Financial Difficulties for OEMs

The COVID-19 crisis is expected to result in near-term hurdles for wind turbine original equipment manufacturers (OEMs). Manufacturers in the small scale single and multi-rotor wind turbine market is projected to witness a negative impact on market share in 2021 despite a steady supply, since manufacturing activities have been affected due to pandemic restrictions.

India, China, Spain, the U.K., and the U.S. witnessed a significant rise in installations between 2018 and 2019. OEMs in the small scale single and multi-rotor wind turbine market are increasing efforts to ensure business continuity in essential sectors such as wind energy farms, community, and residential areas to keep economies running. Challenging market conditions due to the coronavirus outbreak are anticipated to create financial difficulties for stakeholders whilst affecting participation in the wind sector in 2021 and 2022.

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R&D to Help in Developing Better Turbine Technology to Reduce Cost

Wind turbines have evolved in many aspects to gain importance in today’s sustainable energy sector and has helped in decreasing coal-fired gas emissions. However, disadvantages of wind turbines include high costs, suboptimal durability, and constant maintenance requirements in harsh weather conditions. This explains why the small scale single and multi-rotor wind turbine market is estimated to advance at a modest CAGR of ~5% during the forecast period. Thus, OEMs are expected to collaborate with researchers to develop a better turbine technology, such as high efficiency generators and reliable blades to minimize energy and manufacturing costs.

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Multi-rotor Wind Turbines versus Single Rotor Wind Turbines: Which is Better?

Multi-rotor wind turbines have exhibited a faster wake recovery than equivalent single rotor turbines used in wind energy farms. Such findings are translating into incremental opportunities for companies in the small scale single and multi-rotor wind turbine market. Multi-rotor wind turbines help in achieving bigger power output values for downstream turbines in wind farms.

OEMs in the small scale single and multi-rotor wind turbine market are benefitting from decreased turbine size of multi-rotor wind turbines, which have the potential to reduce fatigue loads on downstream turbines.

Use of Rooftop Wind Turbines for Off-the-grid Residential Applications

The rooftop wind energy is creating revenue opportunities for manufacturers in the small scale single and multi-rotor wind turbine market. Since small-scale photovoltaic (PV) panels are emerging as a threat to bulky wind turbines, manufacturers are boosting their R&D muscle to develop compact and lightweight equipment.

Companies in the small scale single and multi-rotor wind turbine market are increasing the availability of wind turbines that operate at all hours. This is evident since solar panels are subject to shortage of sunlight i.e. when the sun is out. In contrast, wind blows during day and night, which gives wind turbine manufacturers an upper hand. Manufacturers are boosting their production capabilities in rooftop turbines that are capable of operating off-the-grid - meaning individual households and small commercial units can use these turbines without relying in the city’s main power source.

Manufacturers Take Giant Strides in Overcoming Low Power Output of Rooftop Turbines

Manufacturers in the small scale single and multi-rotor wind turbine market are increasing their research in the airplane technology to innovate in cutting-edge equipment. The AeroMINE motionless wind turbines are being highly publicized in the renewable energy landscape, as they mimic the functionality of solar panels and provide distributed energy on the roof.

In addition, Dutch company The Archimedes is taking giant strides in the development of small scale wind turbines, whilst overcoming issues such as low power output and lack of efficiency in equipment. Hence, companies in the small scale single and multi-rotor wind turbine market are investing in R&D to develop rooftop turbines that are suitable in rural and urban areas.

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Analysts’ Viewpoint

Apart from disruptions in manufacturing activities, trade between the U.S. and India is facing heat since the International Trade Ad­ministration (ITA) has recommended a countervailing duty against Indian OEMs during challenging times of the COVID-19 crisis. The small scale single and multi-rotor wind turbine market is expected to surpass US$ 8.7 Bn by 2031. However, low power output and lack of efficiency in rooftop wind turbines are affecting market growth. Hence, manufacturers should increase awareness about advantages including significantly reducing energy usage in households and small commercial units with rooftop turbines to offset its disadvantages whilst investing in continuous R&D to overcome operational limitations of the equipment. Companies can diversify their production capabilities for bladeless wind turbines that are a revolutionary solution for small scale applications.

Small Scale Single and Multi-rotor Wind Turbine Market: Overview

  • According to Transparency Market Research’s latest research report on the global small scale single and multi-rotor wind turbine market for the current period 2020 and the forecast period of 2021 to 2031, significant expansion of the wind power industry, rise in awareness about green energy, and rapid decline in cost of renewable energy are key factors that are expected to boost the global small scale single and multi-rotor wind turbine market during the forecast period
  • In terms of revenue, the global small scale single and multi-rotor wind turbine market is projected to surpass US$ 8.7 Bn by 2031, expanding at a CAGR of ~5% during the forecast period. Based on end user, the farm segment is estimated to be a highly lucrative segment of the global small scale single and multi-rotor wind turbine market in 2020. Usually, farms are the preferred locations to install wind turbines, as the air flow is considered ideal for wind energy generation. Thus, the farm segment of the global small scale single and multi-rotor wind turbine market is projected to expand at a rapid pace in the near future. Based on power output, the below 250 kW segment held a large share of the global small scale single and multi-rotor wind turbine market in 2020, owing to lower initial investment cost and high efficiency. In terms of rotor type, the single rotor segment dominated the global small scale single and multi-rotor wind turbine market in 2020.

Rise in Awareness about Green Energy and Steady Decline in Cost of Renewable Energy: Key Drivers of Small Scale Single and Multi-rotor Wind Turbine Market

  • Wind energy is a prominent alternative to energy generated from fossil fuels. The process of energy generation from fossil fuels leads to emission of greenhouse gases (GHGs), which can adversely affect the environment through global warming, air pollution, and land pollution.
  • Increase in awareness about green energy and implementation of stringent government regulations on emission of greenhouse gases (GHGs) and carbon are compelling countries to adopt highly efficient and pollution-free energy generation methods. This is anticipated to boost the small scale single and multi-rotor wind turbine market during the forecast period. In December 2019, the EU Commission presented its vision for the European Green Deal with the aim of becoming climate neutral by 2050. The Climate and Energy Framework mandates the EU to achieve at least 40% cuts in GHG emissions compared to 1990 levels by 2030 and at least a 32% share for renewable energy. These measures are estimated to propel the adoption of small scale single and multi-rotor wind turbine in the region. In turn, this is likely to augment the small scale single and multi-rotor wind turbine market in Europe.
  • The global weighted average cost of electricity from all commercially available renewable power generation technologies has been declining significantly. According to the International Renewable Energy Agency (IRENA), the total installation cost of onshore wind projects is expected to continue to decrease over the next three decades with the average cost falling by around 30%-40% per kilowatt by 2030 and 50%-60% per kilowatt by 2050 compared to the global weighted average cost of installation in 2018. Decline in prices of energy generation from wind projects is estimated to drive the demand for small scale single and multi-rotor wind turbines in the next few years.

Development of Small Scale Single and Multi-rotor Wind Turbines

  • Wind energy has been a pioneering renewable technology over the past few decades. The wind industry has witnessed significant evolution over the last four decades. Technological advancement in components related to wind power such as smart rotors and multi-rotor turbines is anticipated to create lucrative opportunities for manufacturers of small scale single and multi-rotor wind turbines.
  • Companies providing multi-rotor systems are focusing on the development of multi-rotor wind turbine designs, as multi-rotor wind turbines offer various advantages such as transportation, and ease of installation and maintenance. For instance, Vestas and EnerOcean are engaged in the development of large scale multi-rotor wind turbines in order to meet the increasing demand for renewable energy. Furthermore, some of these designs & concepts of large scale multi-rotor wind turbines can be implemented at small scale. This is estimated to create new opportunities for the small scale wind energy sector, as rise in demand for low-cost and hassle-free turbines would boost the demand for small scale single and multi-rotor wind turbines.

Small Scale Single and Multi-rotor Wind Turbine Market: Competition Landscape

  • Detailed profiles of companies operating in the global small scale single and multi-rotor wind turbine market have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies. The global small scale single and multi-rotor turbine market is fragmented, with the presence of large numbers of players.
  • Key players operating in the global small scale single and multi-rotor wind turbine market are
    • Vestas
    • Airgenesis LLC
    • UNITRON Energy Systems Pvt. Ltd.
    • Avant Garde Innovations Pvt. Ltd.
    • ATB Holding S.p.A.
    • Bergey Windpower Co.
    • Eocycle
    • Vergnet UK Limited
    • Fortis Wind
    • Aria srl
    • Kestrel Renewable Energy

Small Scale Single and Multi-rotor Wind Turbine Market: Strategic Partnerships

  • Prominent companies operating in the global small scale single and multi-rotor wind turbine market, such as Vestas, Fortis Wind Limited, and UNITRON Energy Systems Pvt. Ltd., are focusing on product launches, capacity expansion, and acquisition activities to expand their global footprint. Other key strategies in the global small scale single and multi-rotor wind turbine market are highlighted below:
    • In March 2021, Vestas signed the first EnVentus order in the Eastern Europe region for the 126 MW DTEK Tiligulska project in Ukraine. The Tiligulska project is being developed by DTEK Renewables, with whom Vestas has also delivered three previous projects in Ukraine.
    • In February 2021, XANT Renewables BV joined forces with Eocycle Technologies Inc. to firmly position itself as a strong global Distributed Energy Resources (DER) company offering seamless, end-to-end distributed wind solutions and services – from project development to turnkey construction and long-term asset operation
  • In the global small scale single and multi-rotor wind turbine market report, we have discussed individual strategies, followed by company profiles of providers of small scale single and multi-rotor wind turbine. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global small scale single and multi-rotor wind turbine market.

Small Scale Single and Multi-rotor Wind Turbine Market – Scope of the Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global small scale single and multi-rotor wind turbine market to accurately gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating the landscape for growth of the global small scale single and multi-rotor wind turbine market in order to identify opportunities for stakeholders. The report also provides insightful information about how the global small scale single and multi-rotor wind turbine market would expand during the forecast period of 2021 to 2031.

The report offers intricate dynamics about different aspects of the global small scale single and multi-rotor wind turbine market, which aids companies operating in the market in making strategic decisions. TMR’s study also elaborates on the significant changes that are anticipated to configure growth of the global small scale single and multi-rotor wind turbine market during the forecast period. It also includes key indicator assessment that highlights growth prospects for the global small scale single and multi-rotor wind turbine market and estimates statistics related to the market in terms of capacity (MW) and value (US$ Mn).

This study covers detailed segmentation of the global small scale single and multi-rotor wind turbine market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global small scale single and multi-rotor wind turbine market, wherein various development, expansion, and winning strategies practiced by these players have been presented in detail.

Key Questions Answered in TMR’s Report on Small Scale Single and Multi-rotor Wind Turbine Market

The report provides detailed information about the global small scale single and multi-rotor wind turbine market on the basis of a comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the global market and are looking for innovative methods to create a unique benchmark in the global market so as to help them design successful strategies and make target-driven decisions.

  • Which power output segment of the global small scale single and multi-rotor wind turbine market would emerge as a major revenue generator during the forecast period?
  • Which rotor type segment of the global small scale single and multi-rotor wind turbine market would emerge as a major revenue generator during the forecast period?
  • Which end user segment of the global small scale single and multi-rotor wind turbine market would emerge as a major revenue generator during the forecast period?
  • How are key market players successfully earning revenues in the global small scale single and multi-rotor wind turbine market?
  • What would be the Y-o-Y growth trend of the global small scale single and multi-rotor wind turbine market between 2021 and 2031?
  • What are the winning imperatives of leading players operating in the global small scale single and multi-rotor wind turbine market?

Research Methodology – Small Scale Single and Multi-rotor Wind Turbine Market

The research methodology adopted by analysts for compiling the report on the global small scale single and multi-rotor wind turbine market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the global small scale single and multi-rotor wind turbine market.

During the primary research phase, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global small scale single and multi-rotor wind turbine market.

For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global small scale single and multi-rotor wind turbine market.

Small Scale Single and Multi-rotor Wind Turbine Market – Segmentation

TMR’s research study assesses the global small scale single and multi-rotor wind turbine market based on power output, rotor type, end user, and region. The report presents extensive market dynamics and progressive trends associated with different segments and how they are influencing growth prospects of the global small scale single and multi-rotor wind turbine market.

Power Output
  • Below 250 kW
  • 250 kW – 300 kW
  • 300 kW – 350 kW
  • Above 350 kW
Rotor Type
  • Single Rotor
  • Multi Rotor
End User
  • Farm
  • Business
  • Community
  • Others (including Residential and Small Commercial Units)
Region
  • North America
  • Europe
  • Asia Pacific
  • Rest of World

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Small Scale Single And Multirotor Wind Turbine Market

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