Small Wind Powers Market Set to Reach $14.78 Billion by 2029 with 10.7% Yearly Growth

What combination of drivers is leading to accelerated growth in the small wind powers market?
The growth of the small wind power market is set to be fueled by an uptick in the use of renewable energy sources. These naturally regenerating resources, inclusive of wind, hydropower and solar energy, are being adopted more and more because of their environmental advantages, declining costs, and the increasing demand for energy solutions that are sustainable. Small wind power adds versatility to the renewable energy mix, expediting the shift towards a sustainable energy future. As an example, in March 2024, the European Environment Agency, a government organization based in Denmark, reported that the contribution of renewable energy in the European Union (EU) rose from 21.9% in 2021 to 23% in 2022. In addition, between 2021 and 2022, there was a slight rise in the final renewable consumption by 5 million metric tons of oil equivalent (Mtoe). Consequently, the growing use of renewable energy sources is a key factor propelling the small wind power market.

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What is the projected compound annual growth rate (CAGR) of the small wind powers market from 2025 to 2034, and what factors influence it?
The market size for small wind power has seen considerable expansion in the last few years. With a projection to escalate from $8.88 billion in 2024 to $9.85 billion in 2025, it exhibits a compound annual growth rate (CAGR) of 10.9%. The exponential growth observed in the past can be credited to factors such as the scarcity of non-renewable resources, escalating environmental concerns, supportive government incentives and policies, increasing electricity costs, and the need for off-grid energy alternatives in secluded areas.

In the forthcoming years, the small wind power market is predicted to experience a significant expansion, reaching $14.78 billion by 2029 at a compound annual growth rate (CAGR) of 10.7%. The projected growth during this period can be credited to the rise in the use of renewable energy, a surge in investments in eco-friendly infrastructure, an increase in consumer demand for energy self-sufficiency, boosted government backing for clean energy, and the drive towards achieving carbon neutrality targets. Foreseen trends in this period include the incorporation of intelligent solutions, technological advancements, affordable renewable energy alternatives, ground-breaking development in vertical axis wind turbines, and innovative products.

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How are the latest trends influencing the growth of the small wind powers market?
Leading firms within the small wind power market are concentrating on the incorporation of smart solutions like active anti-typhoon technology to increase the robustness, efficacy, and durability of wind turbines under difficult weather conditions. Active anti-typhoon technology refers to sophisticated systems that augment the capacity of wind turbines to endure and operate safely under extreme scenarios, including typhoons. For instance, in January 2024, Mingyang Smart Energy, a wind turbine producer from China, introduced a MySE 18.X-20 MW wind turbine. This is specifically engineered for areas with high winds and boasts a modular, featherweight design equipped with advanced anti-typhoon technology. The turbine creates 80 million kWh annually, supplying electricity to 96,000 households while reducing carbon emissions by 66,000 metric tons. The turbine also prioritizes the production of local components within a small range, which cuts down energy expenses and heightens reliability.

What are the major segments of the small wind powers market and their role in driving growth?
The small wind powers market covered in this report is segmented -

1) By Type: Horizontal Axis Wind Turbine, Vertical Axis Wind Turbine
2) By Capacity: Up To 1 Kilowatt (kW), 1 Kilowatt (kW) To 10 Kilowatt (kW), 10 Kilowatt (kW) To 100 Kilowatt (kW)
3) By Installation Type: On-Grid, Off-Grid
4) By Application: Residential, Commercial, Utility

Subsegments:
1) By Horizontal Axis Wind Turbine: Small Horizontal Axis Wind Turbines (Up To 10 kW), Medium Horizontal Axis Wind Turbines (10 kW To 100 kW), Grid-Connected Horizontal Axis Wind Turbines, Off-Grid Horizontal Axis Wind Turbines, Portable Horizontal Axis Wind Turbines
2) By Vertical Axis Wind Turbine: Darrieus Vertical Axis Wind Turbines, Savonius Vertical Axis Wind Turbines, Small-Scale Vertical Axis Wind Turbines (Up To 10 kW), Hybrid Vertical Axis Wind Turbines, Vertical Axis Wind Turbines For Urban Environments

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Which regions are key players in the growth of the small wind powers market?
Europe was the largest region in the small wind power market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the small wind powers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the small wind powers market?
Major companies operating in the small wind powers market are General Electric (GE), Centrica PLC, Vestas Group, Suzlon Energy, Envision Energy, AeroVironment Inc., Polaris America LLC, PowerWind Ltd., Northern Power Systems Corporation, Jiangsu Windey Wind Power, XZERES Corporation, Urban Green Energy (UGE), Wind Energy Solutions (WES), Britwind, City Windmills Holdings PLC, Aeronautica Windpower LLC, Ryse Energy, Fortis Wind Energy, HY Energy Co. Ltd., Dong Energy, New Dawn Energy

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What Is Covered In The Small Wind Powers Global Market Report?

•Market Size Forecast: Examine the small wind powers market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the small wind powers market for a structured understanding.
•Key Players Overview: Analyze major players in the small wind powers market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the small wind powers market.
•Segment Contributions: Evaluate how different segments drive overall growth in the small wind powers market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the small wind powers market.
•Industry Challenges: Identify potential risks and obstacles affecting the small wind powers market.
•Competitive Landscape: Review strategic developments in the small wind powers market, including expansions, agreements, and new product launches.

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