The global small wind market size was estimated at around USD 1.18 billion in 2021 and it is projected to hit around USD 2.87 billion by 2030, growing at a CAGR of 10.38% from 2022 to 2030
Report Highlights
Increasing awareness about renewable energy along with government regulations to control growing carbon footprint is propelling the market growth. Increasing global population coupled with rising energy deficit are some of the factors anticipated to positively influence the market. In addition, the gradual reduction in per kilowatt prices along with affordable installation prices of wind turbines for electricity demand will favor the business growth.
Stringent government regulations are encouraging grid connectivity to reduce the burden on the use of non-renewable sources for electricity generation. Numerous financial and economic benefits including Feed-in-Tariffs (FiT), Production Tax Credit (PTC), and Investment Tax Credit (ITC) among others are expected to augment the market growth over the forecast period. The COVID-19 pandemic impacted several industries as they were impacted due to the lockdown imposed in many countries. As the industrial operations stopped due to the pandemic, the market experienced a significant dip in 2020 owing to the reduction in energy consumption. This was further attributed to the disruptions of the supply chain & delays or postponement of wind projects in the renewable industry.
The off-grid application segment accounted for 59.7% of the global market share in 2021. The demand for off-grid wind turbines can be attributed to the long-standing conventional methods of harnessing this energy for electrification, however, this segment is set to witness a decline due to the government initiatives launched to boost grid connectivity. Such regulatory initiatives are expected to boost the demand for on-grid small wind applications over the forecast period.
Horizontal Axis Wind Turbines (HAWT) are the preferred axis type in the global small wind market given the ease in installation coupled with affordable pricing. However, the increasing demand for Vertical Axis Wind Turbine (VAWT) from a large number of consumers is expected to boost the market growth of this segment in upcoming years.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 1.18 billion |
| Revenue Forecast by 2030 | USD 2.87 billion |
| Growth rate from 2022 to 2030 | CAGR of 10.38% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Application, axis type, region |
| Companies Covered | Envergate Energy AG; Kingspan Group; Kliux Energies; superwind GmbH; Bergey Windpower Co.; EOCYCLE; Shanghai Zhiyuan Green Energy Co. Ltd.; Northern Power Systems; XZERES Corp. |
Axis Type & Application Insights
Horizontal axis wind turbines (HAWT) lead the segment by a large margin owing to the design being traditionally available over the past two centuries. The segment is expected to witness strong growth over the forecast period owing to ease in installation coupled with easy availability of components.
Vertical axis wind turbines (VAWT) are anticipated to register exponential growth over the forecast period owing to affordable pricing coupled with numerous environmental benefits offered by the design.
The on-grid segment accounted for a share of 40.42% in 2021 owing to the government initiatives towards enhancing grid connectivity in the small wind sector. Numerous financial and economic benefits offered by regulators including Production Tax Credits, Investment Tax Credits, and Feed-in Tariffs will augment the market of small wind growth over the forecast period.
In 2021, the off-grid segment registered a revenue share of 59.89% and is expected to measure growth over the forecast period owing to new, innovative technologies being introduced into the business with a view to modernizing the equipment installed. However, the off-grid segment will remain dominant owing to old installed turbines.
Regional Insights
Europe emerged as the global leader with a revenue share of 43.3% in 2021. Germany and the U.K. held the maximum share in Europe, virtually dominating the market primarily owing to large-scale funding received by both countries cumulatively. Numerous manufacturers have set up regional offices along with production facilities in these countries to capitalize on the current boom in the industry as well as leverage their positions to become market leaders.
In 2021, the North America market of small wind was trailing as the second-largest region in terms of both volume and revenue. According to a 2021 U.S. Energy Information Administration report on Wind Energy, 9.2% of total U.S. utility-scale electricity energy is generated by wind energy.
Furthermore, Asia Pacific accounted for a 19.6% revenue share in the overall market for small wind in 2021 and is anticipated to register significant gains over the forecast period. The region is facing a large-scale energy crisis which is expected to intensify in the foreseeable future owing to fast depleting resources. In this crucial situation, affordable renewable energy sources are being considered the future of the energy sector. The Asia Pacific is anticipated to be the second-largest market during the forecast period.
Key Players
Market Segmentation
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Small Wind Market
5.1. COVID-19 Landscape: Small Wind Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Small Wind Market, By Application
8.1. Small Wind Market, by Application, 2022-2030
8.1.1. On-Grid
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Off-Grid
8.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Small Wind Market, By Axis Type
9.1. Small Wind Market, by Axis Type, 2022-2030
9.1.1. Horizontal Axis Wind Turbines
9.1.1.1. Market Revenue and Forecast (2017-2030)
9.1.2. Vertical Axis Wind Turbines
9.1.2.1. Market Revenue and Forecast (2017-2030)
Chapter 10. Global Small Wind Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Application (2017-2030)
10.1.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.1.3.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.1.4.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Application (2017-2030)
10.2.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.2.3.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.2.4.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Application (2017-2030)
10.2.5.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Application (2017-2030)
10.2.6.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.3.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.3.3.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.3.4.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Application (2017-2030)
10.3.5.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Application (2017-2030)
10.3.6.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.4.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.4.3.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.4.4.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Application (2017-2030)
10.4.5.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Application (2017-2030)
10.4.6.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Application (2017-2030)
10.5.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Application (2017-2030)
10.5.3.2. Market Revenue and Forecast, by Axis Type (2017-2030)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Application (2017-2030)
10.5.4.2. Market Revenue and Forecast, by Axis Type (2017-2030)
Chapter 11. Company Profiles
11.1. Envergate Energy AG
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Kingspan Group
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Kliux Energies
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. superwind GmbH
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. Bergey Windpower Co.
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. EOCYCLE
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. Shanghai Zhiyuan Green Energy Co., Ltd.
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. Northern Power Systems
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. XZERES Corp.
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers