The growth in demand for renewable energy
sources has inspired the growth for small wind power projects to a great
extent. Market reports linked to the energy and power industry have been
offered by Market Research Future which makes reports on other industry
verticals that aims to study the current market scenarios better. The market is
on course to achieve USD 8,601.9 Million in revenue while expanding at a CAGR
of 13.88 % in the approaching period.
Enhancements noticed in the technological
and economic potential of the small wind power market are contributing to an
increase in the entry of competitors who are aiming to transform the market
considerably. The accelerated innovation pace considerably bolsters the market
in the market with regards to the product offering. The rising emphasis on the
microgeneration of energy is expected to create profitable avenues for the
development of small wind power market in the forecast period.
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Segmental
Analysis
The segmentation of the small wind power
market is carried out on the basis of grid connectivity and axis.
By grid connectivity, the small wind power
market has been segmented into off-grid and on-grid.
On the basis of axis, the market for small
wind power has been segmented into vertical axis and horizontal axis.
The regions considered in the small wind
power market are the Americas, Europe, the Middle East & Africa and the
Asia Pacific.
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Geographic
Analysis
The regional analysis of the small wind
power market observes that the European region is expected to be responsible
for the largest market share. The Americas region is the next principal market
chiefly due to the high demand for on-grid application of small wind power,
mostly in advanced nations such as the U.S. The U.S. is the chief market for
small wind power in the Americas region.
The Asia Pacific region is also another
chief market for small wind power. There is also a growing demand observed for
energy due to the rising population and increasing electricity demand in the
region as these rapidly growing economies are also the top polluters in the
world.
Key
Players
The significant companies in the small
wind power market are Bergey Wind Power Co. Inc. (U.S.), Kingspan Group Plc.
(Ireland), Shanghai Ghrepower Green Energy Co., Ltd (China), Eocycle
Technologies Inc. (Canada), Guangzhou HY Energy Technology Co., Ltd (China),
Ennera Energy and Mobility, S.L. (Spain), Aeolos Wind Energy Ltd (U.K.), XZERES
Wind Corporation (U.S.), Northern Power Systems Corp. (U.S.), Endurance Wind
Power Inc. (Canada), and City Windmills Holdings PLC (U.K.).
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