News

Jun 05, 2023

Small Wind Turbine Market Revenues to Reach USD 316.87 million by 2028

Hyderabad, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Small Wind Turbine Market Report (2023-2028)," the market is estimated at USD 297.20 million in 2023. It

Hyderabad, Aug. 02, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled "Small Wind Turbine Market Report (2023-2028)," the market is estimated at USD 297.20 million in 2023. It is expected to register a CAGR of 1.29% during the forecast period.

Small wind turbines are low-cost and need less maintenance. They depend on alternative energy generators, which are easy to install and require less space.

Report Summary:

Report Attribute

Details

Market Size (2023)

USD 297.20 million

Market Size (2028)

USD 316.87 million

CAGR (2023-2028)

1.29%

Study Period

2018-2028

Fastest Growing Market

Asia-Pacific

Largest Market

Asia-Pacific

Forecast Units

Value (USD million)

Report Scope

Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape and Recent Developments, Market Growth, Future Opportunities, and Trends

Key Market Drivers

The lower environmental impact of small wind turbines.

The lower CAPEX and OPEX requirements.

Who are the Top Companies in the Small Wind Turbine Market?

The small wind turbine market is fragmented in moderation. The major players in the market are using strategies like innovation and increasing their market reach.

Significant players in the small wind turbine market are,

Aeolos Wind Energy Ltd

Bergey Wind Power Co.

City Windmills Holdings PLC

Wind Energy Solutions

SD Wind Energy Limited

UNITRON Energy Systems Pvt. Ltd

Northern Power Systems Inc.

Shanghai Ghrepower Green Energy Co. Ltd

TUGE Energia OU

Ryse Energy

Other Reports That Might Be of Your Interest:

Asia-Pacific Large Wind Turbine Market Report - The Asia-Pacific large wind turbine market is expected to register a CAGR of 3.50% during the forecast period (2023-2028).

Europe Large Wind Turbine Market Report - The European large wind turbine market is expected to register a CAGR of over 10.00% during the forecast period (2023-2028).

Key Highlights from the Small Wind Turbine Market Report:

Low Demand for CAPEX and OPEX to Drive the Market

Maintenance costs are drastically low for small wind turbines due to the proximity of smaller turbines and the lower requirement for specialized equipment or crew to carry out essential maintenance operations.

Small wind turbines are ideal for rural consumers in residential, portable, or off-grid applications. They are mostly used to power rural or suburban households, schools, and manufacturing facilities.

Asia-Pacific to Dominate the Market

Asia-Pacific has the potential for the expansion of the market studied in the field of off-grid and residential-scale small wind turbines. China has the largest wind power generation capacity, wherein it installed 33.38 MW of small wind turbines in 2021.

Small wind turbine applications in China are moving from rural electricity to city streets and telecom stand-alone power generator systems. The country is rapidly developing in these new applications.

What are the Latest Developments in the Small Wind Turbine Market?

In January 2023, BRAUN Windturbinen GmbH, a German wind turbine manufacturer, installed a 7.5 kW of small wind turbines.

In December 2022, Bergey Windpower, a company operating in electric utility in Norman, United States, announced its plan to fuel access to its 15-kW wind turbine model.

Mordor Intelligence has Segmented the Small Wind Turbine Market Based on Axis Type, Application, and Geography:

By Axis Type (Market Size and Forecast based on Value (USD million), 2018-2028)

Horizontal Axis Wind Turbine

Vertical Axis Wind Turbine

By Application (Market Size and Forecast based on Value (USD million), 2018-2028)

On-grid

Off-grid

By Geography (Market Size and Forecast based on Value (USD million), 2018-2028)

North America

United States

Canada

Rest of North America

Europe

Germany

United Kingdom

France

Italy

Rest of Europe

Asia-Pacific

China

India

Japan

Rest of Asia-Pacific

South America

Brazil

Argentina

Rest of South America

Middle East and Africa

Saudi Arabia

United Arab Emirates

South Africa

Rest of Middle East and Africa

In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Small Wind Turbine Market Report (2023-2028).

Mordor Intelligence constantly tracks industry trends. Some relevant market reports from the analysts that might be of interest to you:

Airborne Wind Turbines Market Report - The airborne wind turbines market size is estimated at USD 129.81 million in 2023. It is expected to reach USD 200.56 million by 2028, registering a CAGR of 9.09% during the forecast period (2023-2028).

Wind Turbine Blade Recycling Market Report - The wind turbine blade recycling market is expected to register a CAGR of 4.50% during the forecast period (2023-2028).

Wind Turbine Market Report - The wind turbine market volume is estimated at 100 gigawatt in 2023. It is expected to reach 655.69 gigawatt by 2028, registering a CAGR of 45.66% during the forecast period (2023-2028).

About Mordor Intelligence:

Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.

Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the competitive landscape of the industry.

Attachment

Small Wind Turbine Market - Mordor Intelligence