Small Wind Power Market Is Expecting Revolutionary Growth of 13.88 % CAGR | Global Industry Sales Revenue, Competitive Landscape, Future Prospects by Forecast 2023

Market Overview:-

Small Wind Power is generated with the wind turbines that are smaller up to 10 meters rotor diameter and 30 feet tall & gives the output of rated power up to 20 kW at 11 m/s, or 25 mph. When the surface of the earth gets heated up due to the shining Sun, these small wind turbines use this asymmetrical heat and convert the kinetic energy in winds that whirls the blades of wind mill/ turbine, a rotor captures the kinetic energy of the wind and converts it into rotating motion to drive the generator.

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Increasing consumer awareness towards the use of renewable energy sources has predominantly fostered the global Small Wind Power market growth generating the vast pool of market opportunities across the world. Additionally, augmented demand for renewable sources for energy generation coupled with the burgeoning industrialization fuels growth of the global Small Wind Power market. The Small Wind Power market is also fascinating the government bodies worldwide owing to the cost effective output; encouraging them to invest significantly to improve electricity generation by integrating renewable sources of energy, such as wind energy. Government offers funds and soft loans, for small private wind farms from 100KW to 500KW that have accelerated depreciation and power purchase scheme; this further boosts the global Small Wind Power market growth. Other factors that provide impetus to the Small Wind Power market growth include the rising demand for energy and increase in concerns about the environmental impacts of power generation using fossil fuels coupled with the increasing demand for clean and reliable energy in order to reduce the global carbon emissions and to maintain ecological balance by generating electricity through renewable resources.

Industry Top Key Players:-

The key players of global small wind power market are Kingspan Group Plc. (Ireland), Northern Power Systems Corp. (U.S.), Bergey Wind Power Co. Inc. (U.S.), Ennera Energy and Mobility, S.L. (Spain), Eocycle Technologies Inc. (Canada), Shanghai Ghrepower Green Energy Co., Ltd (China), Guangzhou HY Energy Technology Co., Ltd (China), XZERES Wind Corporation (U.S.), Endurance Wind Power Inc. (Canada), Aeolos Wind Energy Ltd (U.K.), and City Windmills Holdings PLC (U.K.).

Market Segmentations:-

For the purpose of study, global small wind power market is segmented by grid connectivity and by axis. Based on grid connectivity, the market has been divided into on-grid and off-grid. Off-Grid accounted for the largest market share of 63.84% in 2016, with a market value of USD 2,224.9 million and is projected to grow at the highest CAGR of 14.06% during the forecast period. An off-grid solution is a system that works independently and is not connected to the electricity distribution system. It also called stand-alone systems. On-Grid was the second-largest market in 2016, valued at USD 1,260.5 million in 2016; it is projected to grow at a CAGR of 13.57%. A grid-connected small wind turbine system, or grid-connected system is an electricity generating small wind turbine system that is linked to the utility grid. A grid-connected wind turbine can reduce your consumption of utility-supplied electricity for your domestic appliances or bigger loads for business empowerment.

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Industry/ Innovation/ Related News:-

November 20, 2017 – CGE Energy (US) unveiled its WIND-e20 by making further advancements in multiple aspects of the development of their flagship, a vertical-axis wind turbine. The 105-foot WIND-e20 generates clean power on-site and is the world’s only turbine that can be installed, maintained and removed without a crane and its blades even collapse in storms all feats that help clear barriers for sustainable energy. The proposed legislation would reinstate the renewable energy tax credit for small wind energy projects, proposed tax reform legislation were released just earlier Nov.2017 providing for massive alterations to tax law.

December 07, 2017 - During the Intersolar India Exhibition and Conference at the Bombay Exhibition Centre, Mumbai, revealed were the India’s planned growth in to the field of renewable energy stating that the India is at the vanguard of the world’s rapid transformation to smart energy. The Ministry of New and Renewable Energy is driving clean energy at an unprecedented rate, while India’s energy consumption is set to double over the next 6-7 years. The Government of India has set itself a highly ambitious task of having installed 175 GW of green energy by 2022. The target includes 60 GW from wind and 100 GW from solar, whereas the latter is split into 60 GW ground-mounted and 40 GW of rooftop. This news further estimates the growth of small wind power market in India

Market Research Analysis:-

Based on grid connectivity, Off-Grid accounted for the largest market share of 63.84% in 2016, with a market value of USD 2,224.9 million and is projected to grow at the highest CAGR of 14.06% during the forecast period. An off-grid solution is a system that works independently and is not connected to the electricity distribution system. In this applications, small wind electric systems can be used in combination with other components, including a small solar electric system to create hybrid power systems. Hybrid power systems can provide reliable off-grid power for homes, farms, or even entire communities that are far from the nearest utility lines. On-Grid, valued at USD 1,260.5 million, was the second-largest market in 2016. In this type small wind turbine system is linked to the utility grid. When the wind system produces more electricity than what a household requires, the excess is sent or sold to the utility. With this type of grid connection, your wind turbine will operate only when the utility grid is available.

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Based on axis, horizontal axis accounted for the largest market share of 65.07% in 2016, with a market value of USD 2,267.9 million and is projected to grow at a CAGR of 13.03% during the forecast period. Vertical axis was the second-largest market in 2016, valued at USD 1,217.5 million. Vertical axis turbines are powered by wind coming from all 360 degrees, and even some turbines are powered when the wind blows from top to bottom. Thus, Vertical axis wind turbines are ideal for installations where wind conditions are not consistent, or due to public ordinances the turbine cannot be placed high enough to benefit from steady wind. Vertical wind turbines were applied for urban and low noise area.

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