Small Wind Power Market Share

Global Small Wind Power Market Overview:

The Small Wind Power Market Size was valued at USD 5.63 billion in 2022. The small wind power market is projected to grow from USD 4.9 billion in 2021 to USD 14.80 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14.82% during the forecast period (2024 - 2030). Rising investment into the development of clean energy and the adoption of small winds in several commercial applications & rural households are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Small Wind Power Market Trends

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  Growing prevalence of the horizontal axis wind power to boost the market growth

  
  

The main rotor shaft and electrical generator of the horizontal axis wind turbine (HAWT) are located at the top of the tower. The horizontal axis sector dominates the market for small wind turbines. It has been manufactured for over three decades, as opposed to the last ten years, which saw the majority of tiny vertical axis wind turbines (VAWT) production. The tiny HWAT is given momentum by the accompanying technological and economic advantages. High-speed winds benefit from the compact horizontal axis wind turbine's low cost, ease of maintenance, and lack of professional staff. ​

The tall tower base of the small HAWTs is a benefit since it gives them stronger access to wind at locations with wind shear. It will probably lead to a moderate deployment of these units during the projected period. For instance, in April 2021, Engie and Eocycle-XANT collaborated to provide a small wind turbine to clients in Belgium as a component of a decentralized green energy solutions portfolio. The 90kW EOX M-26 wind turbine generates an annual average of 260 megawatt-hours of renewable electricity.

A flexible and adaptable method of producing sustainable electricity is small wind power. These are used as stand-alone or grid-connected devices in farmhouses, distant and rural locations, telecommunication towers, homes, and tall buildings. Small wind power is situated close to where there is a need for energy and is simpler to install and run than their larger equivalents. The demand for small wind power systems for household energy and water supply for irrigation in rural regions will increase in nations like India, China, Africa, and other South American countries where the electric grid connectivity is minimal, enhancing the small wind power market CAGR across the globe in the recent years.

One of the main factors boosting the growth of the small wind power industry is rising investments in renewable energy. India, China, and Japan are just a few nations increasing their renewable energy investments. For instance, the State Investment Promotion Board (SIPB) of Andhra Pradesh announced investment possibilities granted to numerous enterprises in September 2022 to increase green energy. Greenko received approval from the SIPB for an investment of $246 billion in projects for renewable energy (RE), totaling 4,230 MW in capacity, another factor driving the growth of the small wind power market revenue.

Wind Power Market Segment Insights:

Small Wind Power Grid Connectivity Insights

Small Wind Power Axis Insights

The Small Wind Power Market segmentation, based on the axis, includes a horizontal and vertical axis. The horizontal axis segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period 2022-2030 because of its high efficiency and inexpensive installation and maintenance costs. With 99% of the market share of all operational horizontal axis small wind power, the traditional three-bladed layout is the standard option, aside from unorthodox solutions and one- and two-bladed designs. The smallest blade count, three, makes it simpler to control centrifugal body forces, positively impacting the market growth.

Small Wind Power Capacity Insights

The Small Wind Power Market data has been bifurcated by capacity into up to 2 kW, 2 kW to 5 kW, and 5 kW to 10 kW. The 5 kW to 10 kW capacity segment dominated the market in 2021 and is projected to be the faster-growing segment during the forecast period, 2022-2030. A small wind power system with a capacity of between 5 kW and 10 kW can be connected to the electric grid both freestanding, also known as off-grid, and by employing a power provider. Because of this, wind power systems are a practical choice, particularly in remote places without access to electricity grids.

Figure 2: Small Wind Power Market by Capacity, 2024 & 2030 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Small Wind Energy Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. Europe's Small Wind Power market accounted for USD 2.15 billion in 2021 and is expected to exhibit a significant CAGR growth during the study period. Small wind power has grown significantly in importance in the European energy markets as they become more dependent on a renewable energy source that is inexpensive to harvest and emits no carbon.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: Small Wind Power Generation share by Region 2021 (%)Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

North America's small wind power market accounts for the second-largest market share. The investments in wind turbine capacity were mostly driven by the coming phase-out of the full value of the U.S. production tax credit (PTC), much as prior tax credit reductions caused sizable increases in wind capacity in 2012 and 2019. The contribution of small wind power to Canada's energy mix is also increasing. Further, the US small wind power market held the largest market share, and the Canadian small wind power market was the fastest-growing market in the North American region.

The Asia-Pacific Small Wind Power Market is expected to grow at the fastest CAGR from 2022 to 2030. It is attributed to various government initiatives, including incentives and energy-saving certificates by the governments in India, China, Malaysia, and Thailand. These initiatives will also encourage commercial units to adapt to power generation from small wind power during the forecast period. Moreover, China's small wind power market held the largest market share, and India's small wind power market was the fastest-growing market in the Asia-Pacific region.

Small Wind Power Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the small wind power market grow even more. Market participants are also taking various strategic initiatives to grow their global footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the small wind power industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies manufacturers adopt in the global small wind power industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. In recent years, the small wind power industry has provided some of the most significant benefits. The small wind turbines market major player such as Northern Power Systems Corp. (U.S.), Kingspan Group Plc. (Ireland), S.L. (Spain) and others are working on expanding the market demand by investing in research and development activities.

The state-of-the-art 25 kW direct-drive wind turbine for distributed wind energy applications, the EOCYCLE 25, is developed, manufactured, and commercialized by Eocycle Technologies Inc. in over 100 countries. A top-notch management and technical team with decades of complementing experience in engineering, production, and the utility-scale wind business make up the foundation of Eocycle Technologies. In 2021, Engie announced its collaboration with Eocycle to provide consumers in Belgium with a collection of dispersed green energy systems similar to small wind power.

Also, a building materials company with its headquarters in Ireland, Kingspan Group plc, trades in over 70 countries and employs over 15,000 people in over 159 factories. Insulated Panels, Insulation, Light & Air, Water & Energy, and Data & Flooring are the company's five operating divisions. In 2019, Kingspan Group recently unveiled its 10-year sustainability program, "Planet Passionate," which has twelve goals centered on energy, carbon, circularity, and water.

Top Listed Companies in the small wind power market include

• Northern Power Systems Corp. (U.S.)


• Kingspan Group Plc. (Ireland)


• Bergey Wind Power Co. Inc. (U.S.)


• S.L. (Spain)


• Ennera Energy and Mobility


• Eocycle Technologies Inc. (Canada)


• Guangzhou HY Energy Technology Co. Ltd (China)


• Shanghai Ghrepower Green Energy Co. Ltd (China)


• Endurance Wind Power Inc. (Canada)


• XZERES Wind Corporation (U.S.)


• City Windmills Holdings PLC (U.K.)


• Aeolos Wind Energy Ltd (U.K.), among others

Small Wind Power Industry Developments

February 2021: Together with Eocycle Technologies Inc., a designer, and manufacturer of certified high-performance distributed wind turbines, XANT Renewables BV developed and produced distributed wind solutions for the microgrid and off-grid/remote sectors.

October 2021: For the Off-Grid Telecoms Sector, Ryse Energy and Bladon Micro Turbine signed a strategic sustainable energy collaboration. With up to 90% renewable energy, this alliance will revolutionize the off-grid telecoms power sector by delivering reliable, clean, and economical power.

Small Wind Power Market Segmentation:

Small Wind Power Grid Connectivity Outlook

• On-Grid


• Off-Grid

Small Wind Power Axis Outlook

• Horizontal Axis


• Vertical Axis

Small Wind Power Capacity Outlook

• Up to 2kW


• 2kW to 5kW


• 5kW to 10kW

Small Wind Power Application Outlook

• Residential


• Commercial


• Utility

Small Wind Power Regional Outlook