What is the present valuation and projected CAGR of the small wind market?
The small wind market size has grown rapidly in recent years. It will grow from $1.3 billion in 2024 to $1.44 billion in 2025 at a compound annual growth rate (CAGR) of 10.9%. The growth in the historic period can be attributed to declining turbine costs, government incentives, rising energy demand, increasing environmental awareness, off-grid electrification needs, and the push for renewable energy integration.
The small wind market size is expected to see rapid growth in the next few years. It will grow to $2.16 billion in 2029 at a compound annual growth rate (CAGR) of 10.7%. The growth in the forecast period can be attributed to growing grid connectivity, enhanced efficiency of vertical axis turbines, expanding renewable energy policies, increasing urban energy independence, rising adoption of smart grid technologies, and ongoing climate change mitigation efforts. Major trends in the forecast period include technological innovations in turbine design, advances in blade design, materials, and control systems, integration of wind-solar hybrid systems, innovations in hybrid wind-solar setups, and product innovations.
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What key drivers have fueled the small wind market’s development over the years?
The increasing electricity demand is expected to propel the growth of the small wind market going forward. Electricity is the flow of electric charge, typically through wires, that powers devices and machines. The electricity demand is increasing due to population growth, industrial expansion, and the widespread adoption of technology and electric vehicles. Small wind turbines offer a sustainable and cost-effective way to generate electricity, especially in suitable wind conditions. They help lower the carbon footprint and reduce the environmental impact associated with traditional energy sources. For instance, in July 2024, according to the report published by the International Energy Agency (IEA), a France-based autonomous intergovernmental organization, global electricity demand is projected to rise by about 4% in 2024, up from 2.5% in 2023. Additionally, the share of renewable electricity is expected to increase rapidly, from 30% of global supply in 2023 to 35% by 2025. Therefore, the increasing electricity demand is expected to drive growth in the small wind market.
What is the segmentation for the small wind market?
The small wind market covered in this report is segmented –
1) By Type: Horizontal Axis Wind Turbine, Vertical Axis Wind Turbine
2) By Installation: Off-Grid, On-Grid
3) By Application: Commercial, Residential, Utilities
Subsegments:
1) By Horizontal Axis Wind Turbine: Upwind Horizontal Axis Wind Turbines, Downwind Horizontal Axis Wind Turbines, Grid-Connected Horizontal Axis Wind Turbines, Off-Grid Horizontal Axis Wind Turbines
2) By Vertical Axis Wind Turbine: Darrieus Vertical Axis Wind Turbines, Savonius Vertical Axis Wind Turbines, Hybrid Vertical Axis Wind Turbines, Small-Scale Vertical Axis Wind Turbines
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Who are the most influential companies in the small wind market?
Major companies operating in the small wind market are SMA Solar Technology AG, Suzlon Energy Ltd., AeroVironment Inc., China Ming Yang Wind Power Group, Inox Wind Limited, Bramble Energy, Eocycle Technologies Inc., Intertek Group PLC, Halo Energy LLC, Kestrel Renewable Energy, Marlec Engineering Co. Ltd., Leviathan Energy LLC, Foshan Ouyad Electronic Co. Ltd., Aeronautica Windpower LLC, Pacific Sky Power, Leosphere, Ryse Energy, Fortis Wind Energy, HY Energy Co. Ltd., Dong Energy, New Dawn Energy
What are the top industry trends projected to impact the small wind market?
Major companies operating in the small wind market are focused on developing micro-wind turbines using Aeroleaf Hybrid technology to enhance energy efficiency and capture wind energy in low-speed conditions while integrating advanced materials and design innovations to improve performance and aesthetics in urban and residential environments. Aeroleaf Hybrid technology is a type of wind turbine technology designed to maximize energy generation in low wind speed conditions. It combines vertical axis wind turbines (VAWTs) with aerodynamic enhancements to improve efficiency. For instance, in January 2024, New World Wind, a France-based energy supplier developed the “WindTree”, a tree-shaped turbine equipped with micro-wind turbines called Aeroleaf Hybrid. The WindTree is a steel structure that can range from 5 to 33 feet (1.5 to 10 meters) in height. The WindTree adheres to a self-consumption model, supplying energy directly to the existing electrical system of a building.
What are the major regional insights for the small wind market, and which region holds the top position?
Europe was the largest region in the small wind market in 2024. The regions covered in the small wind market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Small Wind Market Report 2025 Offer?
The small wind market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Small wind refers to wind turbines with a lower capacity designed to generate electricity for individual homes, farms, or small businesses rather than large-scale power generation. It provides renewable and cost-effective electricity, reducing reliance on the grid and lowering energy costs.
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