Small Wind Market - Forecast(2024 - 2030)

Report Code: EPR 15474 Report Format: PDF + Excel

Small Wind Market Overview:

The Small Wind Market size is estimated to reach $22.5 billion by 2030, growing at a CAGR of 14.9% during the forecast period 2024-2030. The major drivers in the Small Wind Market include the rising demand for clean energy and sustainability, driven by global efforts to reduce carbon emissions. Cost efficiency play a key role as small wind turbines offer long-term financial benefits. Energy independence is another factor as it allows individuals and businesses to generate their own power. Additionally, technological advancements are enhancing efficiency and reliability, making small wind systems more appealing and the government support and initiatives further drive growth in the market. 
Hybrid energy systems and the move towards off grid, decentralized power solutions are rapidly becoming the dominant trends in the small wind market due to the ability of these systems to optimally utilize renewable energy resources and provide an improved energy security. A recent example is the hybrid power project in Sri Lanka’s northern islands, funded with India’s $11-million grant. Remote areas are supplied with stable energy from solar, wind, battery, and diesel systems in this project. In addition, Finnish investment manager Innovestor Finland's $21.2 million decentralized energy storage project for commercial properties across Finland, also shows that the focus on localized power solutions is increasing. The market is consentrated in decentralized hybrid systems which decrease reliance on non-renewable sources, decrease carbon emissions and provide a more resilient power infrastructure.

Market Snapshot: 

Small Wind Market - Report Coverage:

The “Small Wind Market Report - Forecast (2024-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Small Wind Market.

Attribute

Segment

By Grid Connectivity
  • On-Grid
  •  Off-Grid

By Axis Type
  • Horizontal Axis Wind Turbines (HAWT)
  •  Vertical Axis Wind Turbines (VAWT)

By Capacity
  • Up to 10 kW
  • 10 kW – 50 kW
  •  50 kW – 100 kW

By Business Model
  • Ownership
  •  Leasing/Power Purchase Agreement (PPA)

By Energy Storage Integration
  • With Energy Storage
  •   Without Energy Storage

By Technology Type
  • Direct Drive Turbines
  • Gearbox-Based Turbines
  •  Hybrid Systems

 

By Application
  • Residential
  •  Commercial
  •  Industrial
  • Agricultural
  •  Community Wind Projects
  •  Others

 

 

By Geography
  • North America (U.S., Canada and Mexico)
  •  Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe),
  •   Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific),
  •  South America (Brazil, Argentina, Chile, Colombia and Rest of South America)
  •  Rest of the World (Middle East and Africa).

COVID-19 / Ukraine Crisis - Impact Analysis:  

•    The small wind market was slowed down by the COVID-19 pandemic, as supply chains for critical components such as turbines and electronics were disrupted, production times and costs increased. The pandemic also hampered work on project installations, as travel restrictions and workforce shortages slowed down new developments as well as maintenance of existing systems, which slowed down the growth in the sector during the peak of the pandemic.

•    The Russia Ukraine war further affected the small wind market by raising energy prices and thereby raising demand for renewable alternatives like wind energy. But the war caused shortages in material, such as metals and components in the region, which inflated manufacturing and installation costs. The pace of new projects was slowed by these disruptions, especially in regions that depend upon imports from Europe.

Key Takeaways:

Europe Leads the Market

Europe occupies the largest market share in the Small Wind Market owing to the growth of clean energy. In Europe, wind generation is one of the leading sources of clean energy. According to WindEurope, Europe installed 18.3 GW of new wind power capacity in 2023. Europe is expected to install 260 GW of new wind power capacity over 2024-2030. Europe leads the world in wind energy, especially offshore wind, with over 90% of today's offshore wind farms. Rising renewable energy targets are accelerating plans for an offshore wind grid across northern Europe. Germany, the Netherlands, Belgium and Denmark pledged to install at least 65 GW of offshore wind capacity in the North Sea by 2030 and 150 GW by 2050. Therefore, wind energy continues to grow in the region.

HAWTs Lead the Market

Horizontal Axis Wind Turbines (HAWT) are the most common turbine type in the small wind market because they are more efficient than other types and have widespread adoption. The large, three blade horizontal axis design is the most efficient wind turbine configuration and as such is preferred for energy generation, according to Inspire Clean Energy. It further states that in 2020 over 300,000 HAWTs were deployed, making them the market leader. Their ability to capture wind energy more effectively over a wider range of wind conditions makes it well suited to use in a variety of applications. The reliability of HAWTs, their higher energy output and advanced technology make them the leading choice for the small wind market. Their adaptability and efficiency make them the go to option for commercial and residential installations, helping them continue to grow in the industry.

Commercial Sector Shows Fastest Growth 

The commercial sector is the largest growing segment in the small wind market due to growing demand for renewable energy solutions within business. The 2024 Distributed Wind Market Report from the Pacific Northwest National Laboratory found that small wind installations recorder for 42% in commercial projects, more than any other sector. The fact that the sector is determined to cut energy costs and carbon footprints is reflected in this strong growth. For comparison, agricultural projects accounted for 34% of installations, and institutional customers including universities 11%. The projects consisted of 8% and 5% of the total projects for industrial and utility customers, respectively. This is due to the fact that small wind systems are increasingly recognized as a means to integrate into the business operations and reap the financial benefits of sustainability. Driven by corporate sustainability goals and operational cost reduction, the small wind market is being pushed forward by companies adopting renewable energy, and the commercial segment is leading the way in growth.

Rising Demand for Clean Energy

A key driver in the small wind market is the rising demand for clean energy and sustainability, as a result of global initiatives to reduce carbon emissions. According to the U.S. Department of Energy, rapid decarbonization of the power sector is essential to meeting national climate goals, including cutting greenhouse gas emissions 50-52 % below 2005 levels by 2030 and achieving net-zero emissions by 2050. This decarbonization process depends on clean electricity, like that from small wind turbines. This could power the electrification of key sectors such as transportation, buildings, and industry, greatly reducing their carbon footprints. The push for renewable energy sources has accelerated as the U.S. seeks to eliminate 100 % of carbon pollution from electricity by 2035. As part of this shift, small wind systems are being increasingly adopted to help meet these sustainability goals and to drive growth in the small wind market. 

Wind Turbine Noise

A major challenge in the small wind market is the noise produced by wind turbines. As per the U.S. Department, of Energy operating wind turbines can produce different kinds of sounds, including a mechanical hum from the generator and a whooshing from the blades. The sounds can vary from one atmospheric condition and from one listener's sensitivity. Turbine sounds can also be influenced by factors such as the surrounding terrain and noise sources near the turbine. Despite being sited well, and despite the fact that the sounds produced by the turbines are often quieter than a whisper, perception of the noise is subjective and differs from person to person. Sound perception is a personal experience, and communities near wind farms may still express concerns about noise, so there is a need to document and respond to potential sound impacts. This challenge within the small wind market is mitigated through proper communication and strategies to reduce noise.

Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Small Wind Market. The top 10 companies in this industry are listed below:
1.    Northern Power Systems
2.    Bergey Windpower
3.    Wind Energy Solutions (WES)
4.    Xzeres Wind Corp
5.    Kestrel Renewable Energy
6.    Primus Wind Power
7.    Eocycle Technologies Inc.
8.    Bornay Aerogeneradores
9.    Lagerway
10.    SD Wind Energy

Scope of the Report: 

Report Metric

Details

Base Year Considered

2023

Forecast Period

2024–2030

CAGR

14.9%

Market Size in 2030

$22.5 billion

 

Segments Covered

By Grid Connectivity, By Axis Type, By Capacity, By Business Model, By Energy Storage Integration, By Technology Type, By Application and By Geography.

 

 

 

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).

 

 

 

 

 

Key Market Players

1.      Northern Power Systems

2.      Bergey Windpower

3.      Wind Energy Solutions (WES)

4.      Xzeres Wind Corp

5.      Kestrel Renewable Energy

6.      Primus Wind Power

7.      Eocycle Technologies Inc.

8.      Bornay Aerogeneradores

9.      Lagerway

10.SD Wind Energy

 

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1. Small Wind Market - Overview
    1.1. Definitions and Scope
2. Small Wind Market - Executive Summary
    2.1. Key trends by Grid Connectivity
    2.2. Key trends by Axis Type
    2.3. Key trends by Capacity
    2.4. Key trends by Business Model
    2.5. Key trends by Energy Storage Integration
    2.6. Key trends by Technology Type
    2.7. Key trends by Application
    2.8. Key trends by Geography
3. Small Wind Market - Comparative Analysis
    3.1. Company Benchmarking - Key Companies
    3.2. Financial Analysis - Key Companies
    3.3. Market Share Analysis - Key Companies
    3.4. Patent Analysis
    3.5. Pricing Analysis
4.    Small Wind Market - Start-up Companies Scenario
    4.1. Key Start-up Company Analysis by
        4.1.1.    Investment & Revenue
        4.1.2.    Venture Capital and Funding Scenario
5. Small Wind Market – Market Entry Scenario Premium
    5.1. Regulatory Framework Overview
    5.2. New Business and Ease of Doing Business Index
    5.3. Case Studies of Successful Ventures
6. Small Wind Market - Forces
    6.1. Market Drivers
    6.2. Market Constraints
    6.3. Market Challenges
    6.4. Porter's Five Force Model
        6.4.1. Bargaining Power of Suppliers
        6.4.2. Bargaining Powers of Customers
        6.4.3. Threat of New Entrants
        6.4.4. Rivalry Among Existing Players
        6.4.5. Threat of Substitutes
7. Small Wind Market – Strategic Analysis
    7.1. Value Chain Analysis
    7.2. Opportunities Analysis
    7.3. Product Life Cycle/Market Life Cycle Analysis
    7.4. Supplier/Distributor Analysis
8. Small Wind Market – By Grid Connectivity (Market Size – $Million/$Billion)
    8.1. On-Grid
    8.2. Off-Grid
9. Small Wind Market – By Axis Type (Market Size – $Million/$Billion)
    9.1. Horizontal Axis Wind Turbines (HAWT)
    9.2. Vertical Axis Wind Turbines (VAWT)
10. Small Wind Market – By Capacity (Market Size – $Million/$Billion)
   10.1. Up to 10 kW
   10.2. 10 kW – 50 kW
   10.3. 50 kW – 100 kW
11.  Small Wind Market – By Business Model (Market Size – $Million/$Billion)
   11.1. Ownership
   11.2. Leasing/Power Purchase Agreement (PPA)
12. Small Wind Market – By Energy Storage Integration (Market Size – $Million/$Billion)
   12.1. With Energy Storage
   12.2. Without Energy Storage
13.    Small Wind Market – By Technology Type (Market Size – $Million/$Billion)
    13.1. Direct Drive Turbines
    13.2. Gearbox-Based Turbines
    13.3. Hybrid Systems
14.    Small Wind Market – By Application (Market Size – $Million/$Billion)
    14.1. Residential
    14.2. Commercial
    14.3. Industrial
    14.4. Agricultural
    14.5. Community Wind Projects
    14.6. Others
15.  Small Wind Market – by Geography (Market Size – $Million/$Billion) 
    15.1. North America
        15.1.1.    U.S
        15.1.2.    Canada
        15.1.3.    Mexico
    15.2. Europe
        15.2.1.    Germany
        15.2.2.    France
        15.2.3.    UK
        15.2.4.    Italy
        15.2.5.    Spain
        15.2.6.    Russia
        15.2.7.    Rest of Europe
    15.3. Asia-Pacific
        15.3.1.    China
        15.3.2.    Japan
        15.3.3.    South Korea
        15.3.4.    India
        15.3.5.    Australia & New Zealand
        15.3.6.    Rest of Asia-Pacific
    15.4. South America
        15.4.1.    Brazil
        15.4.2.    Argentina
        15.4.3.    Chile
        15.4.4.    Colombia
        15.4.5.    Rest of South America
    15.5. Rest of The World
        15.5.1.    Middle East
        15.5.2.    Africa
16.  Small Wind Market – Entropy
    16.1. New product launches
    16.2. M&A's, collaborations, JVs and partnerships
17.  Small Wind Market – Industry/Segment Competition Landscape 
    17.1. Market Share Analysis
      17.1.1. Market Share by Global 
      17.1.2. Market Share by Region
      17.1.3. Market Share by Country
18.  Small Wind Market – Key Company List by Country Premium 
19.  Small Wind Market – Company Analysis
    19.1. Northern Power Systems
    19.2. Bergey Windpower
    19.3. Wind Energy Solutions (WES)
    19.4. Xzeres Wind Corp
    19.5. Kestrel Renewable Energy
    19.6. Primus Wind Power
    19.7. Eocycle Technologies Inc.
    19.8. Bornay Aerogeneradores
    19.9. Lagerway
    19.10. SD Wind Energy
    
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LIST OF TABLES

1.Global Small Wind Market, By Type Market 2023-2030 ($M)
1.1 Horizontal Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Global Industry Research
1.2 Vertical Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Global Industry Research
2.Global Small Wind Market, By Company Market 2023-2030 ($M)
2.1 Northern Power System Inc Market 2023-2030 ($M) - Global Industry Research
2.2 Kingspan Group Plc Market 2023-2030 ($M) - Global Industry Research
2.3 Xzeres Wind Corporation Market 2023-2030 ($M) - Global Industry Research
2.4 Wind Energy Solution Market 2023-2030 ($M) - Global Industry Research
2.5 Bergey Windpower Co Inc Market 2023-2030 ($M) - Global Industry Research
2.6 Hy Energy Co. Ltd Market 2023-2030 ($M) - Global Industry Research
2.7 Eocycle Technology Inc Market 2023-2030 ($M) - Global Industry Research
2.8 Endurance Wind Power Inc Market 2023-2030 ($M) - Global Industry Research
2.9 Shanghai Ghrepower Green Energy Co , Ltd Market 2023-2030 ($M) - Global Industry Research
2.10 Zkenergy Technology Co , Ltd Market 2023-2030 ($M) - Global Industry Research
3.Global Small Wind Market, By Type Market 2023-2030 (Volume/Units)
3.1 Horizontal Axis Wind Turbine Market, By Geography Market 2023-2030 (Volume/Units) - Global Industry Research
3.2 Vertical Axis Wind Turbine Market, By Geography Market 2023-2030 (Volume/Units) - Global Industry Research
4.Global Small Wind Market, By Company Market 2023-2030 (Volume/Units)
4.1 Northern Power System Inc Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Kingspan Group Plc Market 2023-2030 (Volume/Units) - Global Industry Research
4.3 Xzeres Wind Corporation Market 2023-2030 (Volume/Units) - Global Industry Research
4.4 Wind Energy Solution Market 2023-2030 (Volume/Units) - Global Industry Research
4.5 Bergey Windpower Co Inc Market 2023-2030 (Volume/Units) - Global Industry Research
4.6 Hy Energy Co. Ltd Market 2023-2030 (Volume/Units) - Global Industry Research
4.7 Eocycle Technology Inc Market 2023-2030 (Volume/Units) - Global Industry Research
4.8 Endurance Wind Power Inc Market 2023-2030 (Volume/Units) - Global Industry Research
4.9 Shanghai Ghrepower Green Energy Co , Ltd Market 2023-2030 (Volume/Units) - Global Industry Research
4.10 Zkenergy Technology Co , Ltd Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America Small Wind Market, By Type Market 2023-2030 ($M)
5.1 Horizontal Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Regional Industry Research
5.2 Vertical Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Regional Industry Research
6.North America Small Wind Market, By Company Market 2023-2030 ($M)
6.1 Northern Power System Inc Market 2023-2030 ($M) - Regional Industry Research
6.2 Kingspan Group Plc Market 2023-2030 ($M) - Regional Industry Research
6.3 Xzeres Wind Corporation Market 2023-2030 ($M) - Regional Industry Research
6.4 Wind Energy Solution Market 2023-2030 ($M) - Regional Industry Research
6.5 Bergey Windpower Co Inc Market 2023-2030 ($M) - Regional Industry Research
6.6 Hy Energy Co. Ltd Market 2023-2030 ($M) - Regional Industry Research
6.7 Eocycle Technology Inc Market 2023-2030 ($M) - Regional Industry Research
6.8 Endurance Wind Power Inc Market 2023-2030 ($M) - Regional Industry Research
6.9 Shanghai Ghrepower Green Energy Co , Ltd Market 2023-2030 ($M) - Regional Industry Research
6.10 Zkenergy Technology Co , Ltd Market 2023-2030 ($M) - Regional Industry Research
7.South America Small Wind Market, By Type Market 2023-2030 ($M)
7.1 Horizontal Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Regional Industry Research
7.2 Vertical Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Regional Industry Research
8.South America Small Wind Market, By Company Market 2023-2030 ($M)
8.1 Northern Power System Inc Market 2023-2030 ($M) - Regional Industry Research
8.2 Kingspan Group Plc Market 2023-2030 ($M) - Regional Industry Research
8.3 Xzeres Wind Corporation Market 2023-2030 ($M) - Regional Industry Research
8.4 Wind Energy Solution Market 2023-2030 ($M) - Regional Industry Research
8.5 Bergey Windpower Co Inc Market 2023-2030 ($M) - Regional Industry Research
8.6 Hy Energy Co. Ltd Market 2023-2030 ($M) - Regional Industry Research
8.7 Eocycle Technology Inc Market 2023-2030 ($M) - Regional Industry Research
8.8 Endurance Wind Power Inc Market 2023-2030 ($M) - Regional Industry Research
8.9 Shanghai Ghrepower Green Energy Co , Ltd Market 2023-2030 ($M) - Regional Industry Research
8.10 Zkenergy Technology Co , Ltd Market 2023-2030 ($M) - Regional Industry Research
9.Europe Small Wind Market, By Type Market 2023-2030 ($M)
9.1 Horizontal Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Regional Industry Research
9.2 Vertical Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Regional Industry Research
10.Europe Small Wind Market, By Company Market 2023-2030 ($M)
10.1 Northern Power System Inc Market 2023-2030 ($M) - Regional Industry Research
10.2 Kingspan Group Plc Market 2023-2030 ($M) - Regional Industry Research
10.3 Xzeres Wind Corporation Market 2023-2030 ($M) - Regional Industry Research
10.4 Wind Energy Solution Market 2023-2030 ($M) - Regional Industry Research
10.5 Bergey Windpower Co Inc Market 2023-2030 ($M) - Regional Industry Research
10.6 Hy Energy Co. Ltd Market 2023-2030 ($M) - Regional Industry Research
10.7 Eocycle Technology Inc Market 2023-2030 ($M) - Regional Industry Research
10.8 Endurance Wind Power Inc Market 2023-2030 ($M) - Regional Industry Research
10.9 Shanghai Ghrepower Green Energy Co , Ltd Market 2023-2030 ($M) - Regional Industry Research
10.10 Zkenergy Technology Co , Ltd Market 2023-2030 ($M) - Regional Industry Research
11.APAC Small Wind Market, By Type Market 2023-2030 ($M)
11.1 Horizontal Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Regional Industry Research
11.2 Vertical Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Regional Industry Research
12.APAC Small Wind Market, By Company Market 2023-2030 ($M)
12.1 Northern Power System Inc Market 2023-2030 ($M) - Regional Industry Research
12.2 Kingspan Group Plc Market 2023-2030 ($M) - Regional Industry Research
12.3 Xzeres Wind Corporation Market 2023-2030 ($M) - Regional Industry Research
12.4 Wind Energy Solution Market 2023-2030 ($M) - Regional Industry Research
12.5 Bergey Windpower Co Inc Market 2023-2030 ($M) - Regional Industry Research
12.6 Hy Energy Co. Ltd Market 2023-2030 ($M) - Regional Industry Research
12.7 Eocycle Technology Inc Market 2023-2030 ($M) - Regional Industry Research
12.8 Endurance Wind Power Inc Market 2023-2030 ($M) - Regional Industry Research
12.9 Shanghai Ghrepower Green Energy Co , Ltd Market 2023-2030 ($M) - Regional Industry Research
12.10 Zkenergy Technology Co , Ltd Market 2023-2030 ($M) - Regional Industry Research
13.MENA Small Wind Market, By Type Market 2023-2030 ($M)
13.1 Horizontal Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Regional Industry Research
13.2 Vertical Axis Wind Turbine Market, By Geography Market 2023-2030 ($M) - Regional Industry Research
14.MENA Small Wind Market, By Company Market 2023-2030 ($M)
14.1 Northern Power System Inc Market 2023-2030 ($M) - Regional Industry Research
14.2 Kingspan Group Plc Market 2023-2030 ($M) - Regional Industry Research
14.3 Xzeres Wind Corporation Market 2023-2030 ($M) - Regional Industry Research
14.4 Wind Energy Solution Market 2023-2030 ($M) - Regional Industry Research
14.5 Bergey Windpower Co Inc Market 2023-2030 ($M) - Regional Industry Research
14.6 Hy Energy Co. Ltd Market 2023-2030 ($M) - Regional Industry Research
14.7 Eocycle Technology Inc Market 2023-2030 ($M) - Regional Industry Research
14.8 Endurance Wind Power Inc Market 2023-2030 ($M) - Regional Industry Research
14.9 Shanghai Ghrepower Green Energy Co , Ltd Market 2023-2030 ($M) - Regional Industry Research
14.10 Zkenergy Technology Co , Ltd Market 2023-2030 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Small Wind Market Revenue, 2023-2030 ($M)
2.Canada Small Wind Market Revenue, 2023-2030 ($M)
3.Mexico Small Wind Market Revenue, 2023-2030 ($M)
4.Brazil Small Wind Market Revenue, 2023-2030 ($M)
5.Argentina Small Wind Market Revenue, 2023-2030 ($M)
6.Peru Small Wind Market Revenue, 2023-2030 ($M)
7.Colombia Small Wind Market Revenue, 2023-2030 ($M)
8.Chile Small Wind Market Revenue, 2023-2030 ($M)
9.Rest of South America Small Wind Market Revenue, 2023-2030 ($M)
10.UK Small Wind Market Revenue, 2023-2030 ($M)
11.Germany Small Wind Market Revenue, 2023-2030 ($M)
12.France Small Wind Market Revenue, 2023-2030 ($M)
13.Italy Small Wind Market Revenue, 2023-2030 ($M)
14.Spain Small Wind Market Revenue, 2023-2030 ($M)
15.Rest of Europe Small Wind Market Revenue, 2023-2030 ($M)
16.China Small Wind Market Revenue, 2023-2030 ($M)
17.India Small Wind Market Revenue, 2023-2030 ($M)
18.Japan Small Wind Market Revenue, 2023-2030 ($M)
19.South Korea Small Wind Market Revenue, 2023-2030 ($M)
20.South Africa Small Wind Market Revenue, 2023-2030 ($M)
21.North America Small Wind By Application
22.South America Small Wind By Application
23.Europe Small Wind By Application
24.APAC Small Wind By Application
25.MENA Small Wind By Application

The Small Wind Market is projected to grow at 14.9% CAGR during the forecast period 2024-2030

The Small Wind Market size is estimated to be $8.4 billion in 2023 and is projected to reach $22.5 billion by 2030

The leading players in the Small Wind Market are Northern Power Systems, Bergey Windpower, Wind Energy Solutions (WES), Xzeres Wind Corp, Kestrel Renewable Energy and Others.