With the emergence and long-term Impact of COVID-19, Global Small Wind Turbine Market to reach USD 2.43 billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Small Wind Turbine Market points towards a potential rise to USD 2.43 billion by 2030. A small wind turbine, also known as a micro wind turbine or residential wind turbine, is a device that harnesses the power of the wind to generate electricity on a smaller scale. It is designed to be used in residential, rural, or small commercial settings with sufficient wind resources. The generated electricity can be used to power various electrical devices, charge batteries for energy storage, or even be fed back into the electrical grid if the system is grid-connected.
Small wind turbines are commonly used in off-grid applications, such as powering remote homes, cabins, boats, telecommunications equipment, and water pumping systems. The Small Wind Turbine market is expanding because of factors such as stringent government regulations towards carbon emissions and an increase in demand for efficient electricity.
Geographically, the global Small Wind Turbine market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the dominance of key market players, rising adoption of renewable sources of energy and rising government initiatives. Asia Pacific is expected to grow significantly during the forecast period, owing to factors such as the rising residential industry, geographic expansion of key players, and active participation of government and nonprofit organizations in the market space.
The global Small Wind Turbine market is highly competitive owing to the presence of several key manufacturers such as Aeolos Wind Energy Ltd, Bergey Wind Power Co., City Windmills Holdings PLC, Wind Energy Solutions, SD Wind Energy Limited, UNITRON Energy Systems Pvt. Ltd, Northern Power Systems Inc., Shanghai Ghrepower Green Energy Co. Ltd, TUGE Energia OU, Ryse Energy, and others.
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Key findings of the study suggest:
- Global Small Wind Turbine Market is anticipated to grow with a healthy growth rate of more than 9.22% over the forecast period 2023-2030.
- In Application segment, On-gird emerged out as the leading market segment in 2023.
- North America is anticipated to drive regional growth owing to rising adoption of renewable sources of energy in the region.
- Asia Pacific is also expected to grow at higher rate during 2023-2030 owing to active participation of government and nonprofit organizations in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Application:
- On-grid
- Off-grid
By Axis Type:
- Horizontal Axis Wind Turbines
- Vertical Axis Wind Turbines
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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