Global Small Wind Turbine Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

Global Small Wind Turbine Market Overview

"The Small Wind Turbine Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031."

Small wind turbine is used to generate electric energy with the help of wind. Small wind turbines have capacity range between 1 kW up to 300 kW. Also, some smaller turbines used in boats, and caravans have capacity of 50 watts. Generators used for small wind turbines are usually three-phase alternating current generators.

Cost-effectiveness of small wind turbines and increasing adoption of renewable sources for energy generation across the globe are major factors driving growth of the global small wind turbine market. In addition, increasing awareness among the individuals regarding use of renewable energy sources, and increasing investments by government to improve electricity generation by integrating renewable sources of energy such as wind energy are other factors expected to propel growth of the target market over the forecast period.

However, in-consistency in wind speed is a major factor restraining global market growth. In addition, use of small wind turbines may pose danger to birds as spinning blades could kill them. Also, use of small wind turbines can cause noise pollution in residential areas, which may hamper growth of the global small wind turbine market over the forecast period.

The majority of small wind turbines are conventional horizontal axis wind turbines, but vertical axis wind turbines are expected to be growing type in the near future owing to increasing industrialization and rising infrastructure in unconnected areas.

The market in Europe is expected to account for highest share in terms of revenue and is expected to maintain its dominance over the next ten years. This dominance can be attributed to increasing preference towards adoption of small wind turbines for generation of electricity, and presence of onshore and offshore regions for installation of small wind turbines in countries in countries in the region. The market in North America is expected to account for second-highest revenue share in the global small wind turbine market, due to rising demand for on-grid applications of small wind turbine in the region. Moreover, the market in Asia Pacific is projected to register highest growth rate over the forecast period, owing to increasing energy demand from residential sector in emerging economies such as China and India.

Global small wind turbine market segmentation:

By type:

• Horizontal axis wind turbines
• Vertical axis wind turbines

By Application:

• On Grid
• Off Grid

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa