The distributed wind global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Distributed Wind Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The distributed wind market size has grown strongly in recent years. It will grow from $4.65 billion in 2023 to $4.93 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth in the historic period can be attributed to rise in community and small-scale projects, rise in grid reliability and resilience, rise in public awareness and acceptance, rise in rural electrification, and increase in environmental concerns.
The distributed wind market size is expected to see strong growth in the next few years. It will grow to $6.23 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The growth in the forecast period can be attributed to rising decentralization of energy systems, increasing corporate sustainability goals, increasing research and development, rising energy storage solutions, and rising government policies and incentives. Major trends in the forecast period include technological advancements, advancements in capacity, adoption of hybrid energy systems, and advancements in vertical axis wind turbines.
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Scope Of Distributed Wind Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Distributed Wind Market Overview
Market Drivers –
The increasing demand for renewable energy generation is expected to propel the growth of the distributed wind market going forward. Renewable energy generation refers to the process of producing electricity by using sources such as solar panels or wind turbines to improve reliability, reduce transmission losses, and increase energy independence. Renewable energy generation is primarily necessary due to environmental concerns, energy security, and economic benefits, enabling more sustainable and resilient energy systems. Renewable energy generation supports distributed wind by allowing the use of small-scale wind turbines closer to where the energy is consumed, reducing transmission losses, enhancing grid stability, and promoting energy independence and sustainability. For instance, in August 2023, according to the Energy Efficiency and Renewable Energy (EERE), a US-based government administration, the wind power sector added 29.5 megawatts (MW) of new capacity in 2022, installing 1,745 turbines. Additionally, by 2050, the sector is expected to grow substantially, with a projected increase of 112,286 MW in offshore wind capacity. Therefore, the increasing demand for renewable energy generation drives the distributed wind market.
Market Trends –
Major companies operating in the distributed wind market are developing strategic partnerships to enhance their technological capabilities, expand market reach, and accelerate the adoption of distributed wind energy solutions. Strategic partnerships in the distributed wind market help by combining resources and expertise, enabling the development of more efficient technologies and expanding access to new markets, ultimately driving broader adoption of distributed wind energy. For instance, in March 2024, National Renewable Energy Laboratory (NREL), a US-based research institute, in collaboration with the Pacific Northwest National Laboratory (PNNL), a US-based laboratory, launched National Distributed Wind Network. This network aims to enhance the deployment of distributed wind energy across the United States by providing essential resources and support to various stakeholders, including farmers, municipalities, and businesses. The initiative will provide technical assistance to communities and organizations looking to implement distributed wind projects, helping to navigate regulatory and financial challenges.
The distributed wind market covered in this report is segmented –
1) By Turbine Type: Small (Under 100 kW), Mid-Size (100 kW – 500 MW), Large-Scale (Over 500 kW)
2) By Installation Type: On-Grid, Off-Grid
3) By Application: Residential, Agricultural, Industrial, Government, Institutional, Commercial
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Regional Insights –
North America was the largest region in the distributed wind market in 2023. The regions covered in the distributed wind market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the distributed wind market are Siemens AG, General Electric Company, Acciona S.A., Vestas Wind Systems A/S, Goldwind Science & Technology Co. Ltd., Nordex SE, Enercon GmbH, Suzlon Energy Ltd., Boralex Inc., AeroVironment Inc., Envision Group, Sinovel Wind Group Co. Ltd., Emergya Wind Technologies B.V., Ming Yang Wind Power Group Limited, MTU Onsite Energy Corp., Clipper Windpower Plc, Guodian United Power Technology Co. Ltd, Northern Power Systems, Pika Energy Inc., Kestrel Renewable Energy, Bergey Windpower Co., Helix Wind Corp., Vortex Bladeless Ltd., Windstream Energy Technologies India Pvt. Ltd, Senvion S.A.
Table of Contents
1. Executive Summary
2. Distributed Wind Market Report Structure
3. Distributed Wind Market Trends And Strategies
4. Distributed Wind Market – Macro Economic Scenario
5. Distributed Wind Market Size And Growth
…..
27. Distributed Wind Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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