Global
Small Wind Power Market Scenario
The global small wind power market
has perceived remarkable opportunities across the world, owing to increase in
awareness among consumers about the use of renewable energy sources. Moreover,
increase in demand for renewable sources for energy generation coupled with
rapid industrialization boost the growth of the global small wind power market.
It is expected that the market is going to witness a significant growth of the
global small wind power market, due to rise in demand for energy and increase
in concerns about the environmental impacts of power generation using fossil
fuels. Also, the growing attention of government agencies through high
investments to improve electricity generation by integrating renewable sources
of energy, such as wind energy, has boosted the global small wind power market
growth.
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The global small wind power market
is forecasted to witness a humongous growth during 2016-2023, with a growth
rate of more than 18%. The small wind power is segmented into by type,
horizontal axis wind turbine and vertical axis wind turbine, also it is
segmented by application as, on-grid and off-grid.
Segmental Analysis
The small wind
power market is segmented on the basis of grid connectivity and axis. On the
basis of grid connectivity, the market has been divided into off-grid and
on-grid. The off-grid is responsible for the major market portion of 63.84% in
2016, with a market value of USD 2,224.9 million and is expected to develop at
the highest CAGR of 14.06% through the forecast period. On the basis of axis,
the small wind power market has been divided into horizontal axis and vertical
axis. The horizontal axis is responsible for the major market share of 65.07%
in 2016, with a market value of USD 2,267.9 million and is likely to grow at a
CAGR of 13.03% through the forecast period.
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North-American
small wind power market is expected to grow at the highest CAGR.
The small wind power market in the
North-American region is currently leading and is followed by Asia-Pacific and Europe
market. It is expected that North-America will grow at the highest CAGR, owing
to the growing attention of the consumers and government agencies initiative to
promote small wind power in countries such as U.S and Canada, where there has
been a substantial investment towards the growth of non-conventional
electricity generation. These factors will drive the market for small wind
power market in North American region during the forecast period.
Leading
Players
The key players of global small
wind power market are Northern Power Systems Inc. (U.S), Kingspan Group PLC
(Ireland), Xzeres Wind Corporation (U.S), Wind Energy Solutions (Netherlands),
Bergey Windpower Co. Inc. (U.S), Guangzhou HY Energy Technology Limited Corp.
(China), Eocycle Technologies Inc. (Canada), Endurance Wind Power Inc.
(Canada), Shanghai Ghrepower Green Energy Co., Ltd. (China) and ZKEnergy
Science & Technology Co., Ltd. (China).
Scope
of the Report
This research report has provides
the insights, on various levels of analyses such industry analysis, market
share analysis leading market players and their profiles. This report also
helps in studying the target segments by providing views on emerging &
high-growth segments and market conclusion. Together the market data comprise
and discuss with the basic assessments on the competitive scenarios &
strategies, of the global small wind power market, including the high-growth
regions, countries and their political, economic and technological
environments. Furthermore the project report also provides the views over the
historical market values as well as, pricing and cost analysis of the same.
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