Small Wind Power market, to grow at ~13.88% CAGR of during the forecast period

Pune, India, February 12, 2018 /MRFR Press Release/- Market Research Future published a cooked research report on global small wind power market. The small wind power market is expected to grow at the CAGR of around 13.88% during the period 2017 to 2023.

Market Highlights

Small wind turbines are used to power remote or off-grid applications such as homes, farms, refuges or beacons. Intermediate-sized wind power systems can power a village or a cluster of small enterprises and can be grid-connected or off-grid. Small wind turbines can be developed to meet the specifications suitable for the domestic and international (developed and developing) markets. These turbines can be coupled with diesel generators, batteries and other distributed energy sources for remote use where there is no access to the grid. One of the primary drivers for the growth of small wind power market, is the important part played by the government initiatives and policies. In many countries such as Japan and EU countries, policies such as feed-in tariffs, net metering, tax credits, and capital subsidies are the major energy policies geared, specifically, towards small wind. The small wind power sector has benefited particularly from the growing global trend of feed-in tariffs (FITs). Moreover, adoption of small winds in several commercial applications & rural households also fuel the growth of the market. However, high initial cost and fluctuating prices of raw materials may hamper the growth of the market.

Drivers

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.

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.

Access Report Deatails @ https://www.marketresearchfuture.com/reports/small-wind-power-market-4568

Global Small Wind Power Market, 2016-2023 (USD Million)

Scope of the Report

This study provides an overview of the global small wind power market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for Americas, Europe, Asia Pacific (APAC) and Middle East & Africa. The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global small wind power market by its grid connectivity, axis and region.

Global Small Wind Powers Market, By Grid Connectivity

• On-Grid


• Off-Grid

Global Small Wind Powers Market, By Axis

• Horizontal Axis


• Vertical Axis

Global Small Wind Powers Market, By Region

• Americas


• Europe


• Asia Pacific


• Middle East & Africa

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.).