Small Wind Market Worth $2.54 Billion By 2030 | CAGR: 9.2%
Small Wind Industry Overview
The global small wind market size was valued at over USD 1.10 billion in 2021 and is anticipated to exhibit a compound annual growth rate (CAGR) of 9.2% during the forecast period, owing to the global energy crisis coupled with depleting non-renewable resources for electricity generation. Stringent government regulations towards restricting the growth of carbon footprint along with financial benefits offered to augment the adoption of renewable sources of energy is anticipated to drive the market. However, the increasing popularity of solar energy is perceived as a threat to wind energy owing to its competitive pricing and easy availability of components. Growing awareness in developed regions including Europe and North America along with developing regions of Asia Pacific is anticipated to drive business growth.
Gather more insights about the market drivers, restrains and growth of the Global Small Wind market
The COVID-19 pandemic hampered the growth of the market. This was attributed to multiple factors including a decrease in consumption of energy in commercial spaces due to strict lockdown imposed by the governments worldwide, the slowdown of the production process, and supply chain disruptions. Moreover, the lockdown resulted in the slowdown or postponement of small wind projects which restricted the market growth.
Browse through Grand View Research's Renewable Energy Industry Research Reports.
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Small Wind Market Segmentation
Grand View Research has segmented the global small wind market based on application, axis type, and region:
Small Wind Application Outlook (Volume, Megawatts; Revenue, USD Million, 2019 - 2030)
- On-Grid
- Off-Grid
Small Wind Axis Type Outlook (Volume, Megawatts; Revenue, USD Million, 2019 - 2030)
- Horizontal Axis Wind Turbines
- Vertical Axis Wind Turbines
Small Wind Regional Outlook (Revenue, USD Million, 2019 - 2030)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Key Companies profiled:
Some prominent players in the global small wind market include:
- Envergate Energy AG
- Kingspan Group
- Kliux Energies
- superwind GmbH
- Bergey Windpower Co.
- EOCYCLE
- Shanghai Zhiyuan Green Energy Co., Ltd.
- Northern Power Systems
- XZERES Corp.
Order a free sample PDF of the Small Wind Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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