Small Wind Turbines: Introduction
- Global demand for energy derived from alternative and renewable sources has been rising at a significant pace since the last few years. Wind turbine produces energy from the wind by converting kinetic energy into electrical energy.
- Global environmental concerns have provided an opportunity for development of sources of renewable energy. Policy interventions such as Nationally Determined Contributions (NDCs) and Sustainable Development Goals (SDGs) are presently creating a demand for renewable energy.
- Demand for small wind turbines depends on the technology and its cost, enactment of supportive policies and economic incentives, prices of the fossil fuels, investor interest, consumer awareness, quality assurance from developers or manufacturers, processes and regulations, and wind evaluation tools
Key Drivers and Restraints of Small Wind Turbines
- Production of sustainable sources of energy, such as wind energy, has been increasing significantly across the globe in order to reduce the adverse impact of global warming. According to the Global Wind Energy Council (GWEC), the wind industry is anticipated to bring total global wind power capacity nearly to 1000 GW by the end of 2024 with new installation of 348 GW capacity between 2020 and 2024.
- Technological innovation with respect to design of wind turbine materials such as glass composites is expected to drive the global small wind turbines market during the forecast period. Smaller components made up of modern glass composites are cheaper, and easy to transport and assemble. Furthermore, these components are easy to install and repair. This reduces the installation and maintenance costs.
- Requirement of high technical skill for installation of wind turbines is anticipated to hamper the global small wind turbines market during the forecast period
COVID-19 Impact Analysis
- Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, has come to a halt because of lockdowns. This has adversely affected the demand for electricity for commercial purposes. In turn, this has hampered the global small wind turbines market.
Small Wind Turbines Market Segmentation
- The global small wind turbines market can be segmented based on type, system, power rating, and application
- In terms of type, the global small wind turbines market can be bifurcated into horizontal axis wind turbine (HAWT) and vertical axis wind turbine (VAWT). Horizontal axis wind turbine (HAWT) offers more efficiency and reliability than vertical axis wind turbine (VAWT). Therefore, the horizontal axis wind turbine (HAWT) segment is projected to dominate the global small wind turbines market during the forecast period.
- In terms of system, the global small wind turbines market can be classified into on-grid mode and off-grid mode. Off-grid mode does not depend on the grid and operates independently. The off-grid mode segment is expected to dominate the global small wind turbines market in the near future.
- In terms of power rating, the global small wind turbines market can be segregated into up to 50 KW and 51 – 100 KW
- In terms of application, the global small wind turbines market can be divided into industrial, commercial, and residential
Small Wind Turbines Market: Regional Segmentation
- Based on region, the global small wind turbines market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- China is expected to dominate the market in Asia Pacific during the forecast period. According to the International Renewable Energy Agency, total renewable electricity generation in Asia Pacific stood at 26, 43,589 GWH in 2018; of this, 13.86% of electricity was generated by wind energy sources in China.
- The U.S. dominated the market in North America by installing nearly 17 GW new capacity in 2020. According to the Global Wind Energy Council (GWEC), total wind power capacity of the region stood at 136 GW in 2020. Total wind power capacity of Latin America was 34 GW in 2020. Brazil dominated the market in Latin America with installation of nearly 2.3 GW capacity in 2020. North America and Latin America increased their wind power installation capacity by 62% in 2020. This helped curb around 250 million tons of carbon dioxide emission annually.
- Germany is projected to dominate the market in Europe during the forecast period. According to the International Renewable Energy Agency, total renewable electricity generation in Europe stood at 12, 97,883 GWH in 2018; of this, 08.47% of electricity was generated by wind energy source in Germany.
Key Players Operating in Global Market
- SD WIND ENERGY
- BRAUN Windturbinen GmbH
- Xzeres Corp.
- Shanghai Ghrepower Green Energy Co. Ltd.
- Guangzhou HY Energy Technology Limited Corp.
- Bergey Windpower Co.
- ENESSERE S.r.l.
- Hi – VAWT Technology Corp.
- VWT Power Ltd
- Primus Wind Power
- TUGE turbines
Global Small Wind Turbines Market: Research Scope
Global Small Wind Turbines Market, by Type
- Horizontal Axis Wind Turbine (HAWT)
- Vertical Axis Wind Turbine (VAWT)
Global Small Wind Turbines Market, by System
- On-grid Mode
- Off-grid Mode
Global Small Wind Turbines Market, by Power Rating
- Up to 50 KW
- 51 KW – 100 KW
Global Small Wind Turbines Market, by Application
Global Small Wind Turbines Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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The following regional segments are covered comprehensively:
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- Asia Pacific
- Latin America
- The Middle East and Africa
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