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Small Wind Power Market 2020 - Analysis, Size, Business Growth, Key Players and Future Scenario
The small wind power market was valued at $3,805 million in 2015 and is projected to reach $8,874 million by 2022, growing at a CAGR of 13.2% from 2016 to 2022.
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At present, the global small wind power market witnesses vivid opportunities due to increase in adoption of renewable sources of energy. Renewable energy is sustainable, cost-effective, and non-polluting source of energy as it is obtained from sources such as wind, solar, biomass, geothermal and hydro. Moreover, increased usage of renewable energy is one of several promising strategies for reducing emissions of pollutants and for hedging against the volatility of fossil fuel prices.
Asia-Pacific and LAMEA collectively accounted for around half of the total small wind power market, in terms of volume, and are expected to continue this trend due to increase in infrastructural development, specifically in China, India, Brazil, and other developing economies.
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Small wind turbines comprises a wide range of wind turbines ranging from micro turbines to residential turbines and mini turbines. The wind turbines used in these end use applications have power ratings ranging from a few watts to thousand watts. A small wind turbine is used for micro-generation of electricity, as compared to large commercial wind turbines with higher individual power output.
The major companies profiled in the report include Northern Power Systems Inc., Bergey Wind Power Co., Kingspan Group Plc., Xzeres Wind Corp., Unitron Energy, Sun and Wind Renewables Private Limited, Fortis Wind Energy, Aeolos Wind Energy Co. Ltd., Qingdao Windwings Wind Turbine Co. Ltd., and Greenergy Technology Co.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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