With rising energy concerns, the need for alternative renewable energy sources such as wind energy is gaining traction across the globe. Small wind power is produced by turbines typically having a capacity rating of less than or equal to 100 kW which uses wind power to produce renewable clean energy. Small wind turbines include all such plants where the swept rotor area does not exceed 200 square meters at 350 W/m2.
The significant rise in demand for renewable sources of energy generation coupled with rapid industrialization is a key driving factor boosting the small wind power market world-wide. Furthermore, growing concerns over adverse environmental impacts of power generated through fossil fuel will further result in the adoption of wind power as alternative sources of power as a convenient & cost-effective solution.
The zoning and permitting issues related to the regulatory frameworks in some regions, especially the U.S., has majorly hampered the adoption of small wind power equipment. However, with the growing public awareness about the negative impacts of non-renewable energy and the subsequent benefits these small wind power offers will result in the key market players to overcome the constraining factors.
Small wind turbines have applications in powering individual homes, farms and small businesses. Applications of these small wind power market in making off-grid installations such as telecommunication towers and in powering homes will further offer growth opportunities to the small wind power market in some regions. For instance, in China, small wind turbines have emerged as feasible power options as the region has many remote areas having very less or no access to any power grid.
The report segments the world small wind power market on the basis of types, application & geography. On the basis of types, the market is segmented into vertical axis wind turbine and horizontal axis wind turbine. On the basis of applications, the report segments the market into telecommunication towers small scale industries, residential & commercial units. On the basis of geography, the market is segmented into North America, Europe & Asia-Pacific.
The world small wind power market is characterized by the presence of a few original equipment manufacturers (OEMs), which is likely witness market intense competition in the coming years with the entry of new OEMs. Manufactures are keen on developing high-end wind turbines especially in the U.S. & Europe. As the government patronage increases, the key manufacturers are increasing their private investment to set up new projects. This strategy is particularly adopted by key market players in Europe and some major countries of Asia-Pacific region such as India & China. Development of new products is a dominant strategy adopted by key market players to consolidate their positions in the market. In some cases, to cut down on transportation cost and make compliance with local regulatory authorities easier, the key manufactures make policy decision to locate their facilities closer to target markets.
Key market players profiled in the report include Northern Power Systems Inc., Kingspan Group Plc., Xzeres Wind Corp., Bergey Windpower Co., Guangzhou Hongying Energy Technology Co., Ltd., Shanghai Ghrepower Green Energy Co., Ltd., among others.
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