Small
Wind Turbines Market Synopsis:
The
efforts directed towards the assurance of energy security by the governments
has led to a boom in the renewable industry. This, in turn, is anticipated to
increase the adoption rate of small wind power for energy generation. This
MARKET Research Future (MRFR)’s observation suggests that the Small
Wind Turbines Market is expected to register 13.88% CAGR across the
forecast period and reach a valuation of USD 8,601.9 Mn.
The
global small wind power market is likely to bank upon its negligible carbon
emissions. Environmental concerns are poised to drive the growth of the market
in the forthcoming years. The depleting sources of energy, coupled with the rising
need for power & energy, are anticipated to motivate the proliferation of
the small wind power market over the next couple of years.
Small
Wind Turbines Market Segmentation:
On
the basis of grid connectivity, the small wind power market is divided into on-grid
and off-grid. The off-grid segment held the maximum market share in 2016,
accounting for 63.84% share. It was valued at USD 2,224.9 Mn and is anticipated
to reach a decent valuation by the end of the assessment period. The off-grid
segment is expected to register 14.06% cross the assessment segment. On the
other hand, the on-grid segment is poised to mark 13.57% CAGR during the
evaluation segment.
Based
on the axis, the small wind power market has been bifurcated into horizontal
axis and vertical axis. Among these, the horizontal axis segment was valued at
USD 2,267.9 Mn in 2016 capturing a market share of 65.07%. The segment is
anticipated to maintain a strong holding of the market place over the next
couple of years, expanding at a CAGR of 13.03%.
The vertical axis segment, on the other hand, was valued at USD 1,217.5
Mn and is poised to mark 15.37% CAGR during the review period.
Regional
Analysis:
The
global small wind turbines market, on the basis of region, has been segmented
into Americas, Asia Pacific (APAC), Europe, and the Middle East & Africa
(MEA). These regions have been further analyzed on the basis of countries. Europe
accounted for the largest share of the market, 41.32% share, and is likely to
maintain it over the next couple of years. It is estimated to expand at 13.98%
CAGR during the forecast period. The region has been investing in the
generation of renewable energy. It is projected to lead the small wind power
market in the region in the foreseeable future. Asia Pacific is anticipated to
mark 14.38% CAGR across the forecast period. China is likely to lead the global
market in terms of market share among all other countries. It is expected to
contribute to the expansion of the small wind power market in the upcoming
years.
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Competitive
Dashboard:
Kingspan
Group Plc. (Ireland), Bergey Wind Power Co. Inc. (U.S.), Northern Power Systems
Corp. (U.S.), Ennera Energy and Mobility, S.L. (Spain), Shanghai Ghrepower
Green Energy Co., Ltd (China), Eocycle Technologies Inc. (Canada), Aeolos Wind
Energy Ltd (U.K.), Guangzhou HY Energy Technology Co., Ltd (China), Endurance
Wind Power Inc. (Canada), XZERES Wind Corporation (U.S.), and City Windmills
Holdings PLC (U.K.) are few of the major players of the global small wind power
market. These players are anticipated to invest in advanced technologies and
regional expansion to capture market shares. This report suggests that the
global small wind power market is poised to witness intense competition in the
years to come.
Industry
News:
In
October 2019, the Australian Capital Territory (ACT) has been announced to be
the first-ever Australian state to attain 100% net renewable electricity.
In
October 2019, around twenty of the universities in the United Kingdom has
struck a deal worth £50 Mn for the purchase of renewable energy from the British
wind farms.
Related Searches: https://www.marketresearchfuture.com/reports/wind-power-market
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