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. The growth in demand for renewable energy sources has
inspired the growth for small wind power projects to a great extent.
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.
Prominent
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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Detailed
Regional 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 small wind power growth is part of a broader
change from fossil fuels to renewable energy, throughout the European Union.
The European governments and the EU, as a whole, have reinforced small wind
projects with promising enticements as part of their carbon emission saving
objectives.
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 economic and technological
potential for renewable energy to deliver a rising share of clean, secure
energy for the North American region over the coming decades, which is very
large.
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. At present, China has a major number of small wind project projects
under the planning and construction phase, which is trailed by Japan.
Competitive
Analysis
The market has the elements for displaying
a better comparative or differential value. The market trends reveal favorable
growth in the product range that can bring an improvement to the product range,
and thus tackle the customer needs efficiently. The incidence of productive
units is projected to generate more sales or greater margins as compared to its
market adversaries. The commencement of new technology is furthering the growth
capability of the market. Considerable reductions in administrative finances
are bringing more developments to the market.
The making of a strong value chain is additionally encouraging the
development of the market. The market contestants find themselves in a
promising position with the capacity to handle the pace of change.
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