Small Wind Market - Overview and Outlook by Potential Growth (2024-2032)

Small Wind Market Synopsis:

Small Wind Market Size Was Valued at USD 1.4 Billion in 2023, and is Projected to Reach USD 2.0 Billion by 2032, Growing at a CAGR of 4.3% From 2024-2032.

The small wind Defines the area of the wind energy business involving wind turbines of up to 100 kW suitable for dispersed generation in households, farming, and small businesses. These turbines are used either standalone or grid connected to generate wind power where the required wind velocities are available. They afford a sustainable fix for mitigating carbon emission and use of non-renewable sources of energy. Small wind market is characterized by growing demand for clean power, technology improvements in wind powered equipment and the governments’ feed-in tariffs and tax credits. Also, small wind system’s compatibility with solar PV and battery storage systems has improved their versatility for everyday patent applications making them an invaluable part of the global decarbonization efforts.

The small wind market has been steadily growing in recent years due to increasing international concern with renewable energy benefits. Small wind projects have benefited from innovation and increased adoption of renewable energy targets in countries across the world. These systems are a feasible electricity provison in rural and off-grid areas since none or little of the conventional power-line network is commonly found in most of the developing world villages. Across the developed countries, the small wind turbines are gradually being used for domestic and commercial plant uses in order to cut down the price of energy bills and also minimize the negative impacts on the environment.

Furthermore, new developments in the wind turbine such as enhanced blades, efficient generator and reduced maintenance cost as well as its reliability have made small wind systems possible. There has been enhanced development of wind solar hybrid systems that have helped users to utilize renewable energy in a more efficient manner in the market all year round. Now due to the increase in the quest to work towards net zero emission globally the small wind market is set to become a key market towards energy sustainability in the few years to come.

Small Wind Market Trend Analysis:

Hybrid Renewable Systems are the Future

• It is evident that a promising development in the SOW market is associated with the use of hybrid renewable systems that include wind power together with solar PV and energy storage systems. These bi-modal structures are able to allow users to get the most out of renewable energy sources because each source has its own drawbacks. For example, solar photovoltaic systems are best during the day depending on the battery capacity while wind turbines produce power during the night or during a cloudy day so there will always be light. This trend is most predominant in the rural and off-grid zones where reliable electricity supply is scarce, thus creating the demand for realizing the remarkable energy solutions.

Rising Adoption in Remote and Off-Grid Areas

• This perhaps is well illustrated by the small, yet promising wind power market that offers great potential for increased power generation especially in the remote and off-grid areas where access to large power generating systems or central grids is virtually out of bounds or very expensive affair. Global governments, and organizations are gradually installing the small wind turbines especially for areas not connected to the national grid. Furthermore, with the current developments in microgrid systems, small wind turbines can now be incorporated into the system in order to supply reliable power solutions such as school, health facilities, and commonCommercial and residential development projects inoff-grid areas. Lack of Energy equity and sustainable development is forecasted as a major strong force which will open up significant opportunities for small wind market players in the following years.

Small Wind Market Segment Analysis:

Small Wind Market Segmented on the basis of Connectivity, Axis.

By Connectivity, Off grid segment is expected to dominate the market during the forecast period

• Small wind systems off grid is expected to control the entire market during the forecast period due to the increasing demand fro electricity in off grid and rural areas. These systems are off-grid systems which are suitable for use by farmers, rural dwellers as well as islands. As more people focus on energy self-sufficiency and efficiency, the opportunities for off-grid systems appear to be a solution for most minor energy-related requirements.
• Also, independent of the grid, small wind power plants are used more and more as standalone systems within the energy system. The integration of wind turbines, solar PV’s and battery storage makes them ideal energy sources for remote facilities. This versatility has rendered off-grid systems as a favored option by the governments, as well as the nongovernmental organizations that are targeting to extend the electricity accessibility in the unserved regions during the forecast period.

By Axis, Horizontal Axis Wind Turbines segment expected to held the largest share

• Of all the small wind power systems, the HAWTs will dominate the market share because they are efficient and have various applications. These are the turbines in which the rotor blades spin on a horizontal axis, and they are most effective in their functions of turning wind force into electric energy especially in regions of steadiness of wind velocities. Residential utility, commercial usage and small industrial applications are areas where HAWTs are preferred due to their efficiency and adaptability to large energy production.
• Moreover, Horizontal axis designs regarding the technological aspect has improved in its blade aerodynamics and generators which has lead to an improved performance of horizontal-axis turbines. Therefore, HAWTs also remain almost two to three times more popular market and are expected to stay professed market leaders in the small wind market during the forecast period.

Small Wind Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• It should also be noted that at the present time, North America is the market leader in small wind in the world and occupies 35% of the market. The dominance of the region is due to good government support policies including tax credit and renewable energy certificates and good wind resources in countries like the US and Canada. In particular, the U.S. has formed a large base of small wind systems, owing to state and federal incentives for widespread deployment of renewables. There are also growing concerns among the consumers and businesses regarding clean energy, its efficiency and cost cutting advantages have lead the use of small wind system in residential and small commercial areas in North America.

Active Key Players in the Small Wind Market:

• Bergey Windpower (United States)
• Bornay Aerogeneradores (Spain)
• ENESSERE (Italy)
• Eocycle (Canada)
• ESPE (Italy)
• Guangzhou HY Energy Technology (China)
• Kestrel Renewable Energy (South Africa)
• Kingspan Environmental (United Kingdom)
• Nanjing Oulu Electric (China)
• Northern Power Systems (United States)
• Ryse Energy (United Arab Emirates)
• SD Wind Energy (United Kingdom)
• Shanghai Ghrepower Green Energy (China)
• Vergnet (France)
• Xzeres Wind (United States)
• Other Active Players