Small Wind Power Market: Winds of Change | Asia Pacific Dominate by Japan, South Korea, Singapore, Hong Kong, Taiwan
Global Small Wind Power Market to hit USD 17 billion by 2030
WILMINGTON, DELAWARE, UNITED STATES, February 27, 2024 /EINPresswire.com/ --
According to a new report published by Allied Market Research, The small wind power market size was valued at $7.4 billion in 2020, and global market forecast projected to reach $17.1 billion by 2030, with global small wind forecast expected at a CAGR of 8.8% from 2021 to 2030.
Applications of Small Wind Power
Off-grid or remote power generation: Providing electricity to isolated homes, cabins, or telecommunications towers where grid connection is impractical or expensive.
Grid-connected distributed generation: Supplementing or offsetting electricity consumption from the grid for residential, commercial, or industrial facilities.
Agricultural and rural applications: Powering irrigation pumps, water pumping stations, or agricultural machinery on farms.
Community-scale projects: Generating electricity for small communities, schools, or public facilities.
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The Asia-pacific region registered the highest Small Wind Power Market Share and is projected to maintain the same during the forecast period.
The key players operating and profiled in the report include Aeolos Wind Energy Ltd, Bergey Wind Power Co., City Windmills, Eocycle Technologies Inc., Northern Power Systems, Ryse Energy, SD Wind Energy Limited, Shanghai Ghrepower Green Energy Co. Ltd., UNITRON Energy Systems Pvt. Ltd. and Wind Energy Solutions.
Renewable Energy Source: Wind power is a clean and renewable energy source, producing electricity without emitting greenhouse gases or other pollutants.
Decentralized Generation: Small wind turbines can be installed close to where electricity is consumed, reducing transmission losses and enhancing energy resilience.
Scalability: Small wind systems can be installed in various sizes and configurations to meet specific energy needs, from individual households to small communities.
Energy Independence: Off-grid or remote applications can benefit from small wind power systems by reducing reliance on diesel generators or grid electricity.
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A small wind turbine is used for microgeneration of electricity, as opposed to large commercial wind turbines with high individual power output.
Generally determined by the way the turbine spins, wind turbines can be classified into two basic types—horizontal axis and vertical axis wind turbines.
Horizontal axis wind turbines are used predominantly whereas the vertical axis wind turbines are less preferred. Small wind turbines comprise of a broader range of wind turbines from micro and mini to household sized.
Wind turbines in the aforementioned sizes have power ratings from a few watts to dozens of kW.
Growth in demand for sustainable and renewable sources of energy across consumers majorly drives the demand for small wind turbines.
Emphasis on clean energy as well as increase in number of awareness programs conducted by governmental and private organizations is another key element that accelerates the demand for small wind turbines across the globe.
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On the basis of type, the Vertical Axis Wind Turbine segment emerged as the global leader in 2020 and is anticipated to be the largest markets during the forecast period.
On the basis of installation type, the on-grid segment emerged as the global leader in 2020 and is anticipated to be the largest markets during the forecast period.
On the basis of application, the commercial segment emerged as the global leader in 2020 and is anticipated to be the largest markets during the forecast period.
Small wind turbines refer to a wind power project generally under a power generation capacity of 20 kW and a rotor diameter of 10 meters or 30 feet. Small wind turbines are being widely deployed for domestic and household purposes.
Small wind turbines differ from large turbines in several crucial ways, demonstrating their relatively greater versatility. While large turbines entail mature power grids, small wind turbines find applications in both on and off power grids due to their low energy output and size.
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The off-grid application of small wind turbines avoid the heavy investments of expanding transmission lines to rural regions In addition, small wind turbines operate on lower wind speed as compared to large wind turbines, giving them more placement options.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Market Research
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