The global Emea Small Wind Turbines Market is estimated to be valued at US$ 55,025.34 Th or Million in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Small wind turbines system refers to small-scale wind turbine systems that produce electricity from wind power for residential, farm or small business use. These systems capture the kinetic energy of the wind to generate low-voltage direct current (DC) electricity, which can then be used to power homes, farms and small businesses or sold back to electricity utilities.
Market key trends:
One of the key trends driving the growth of small wind turbines market is increasing demand for decentralized and off-grid power generation solutions. Rising electricity costs and unreliable grid infrastructure in remote areas have boosted the demand for small-scale wind turbines for off-grid applications. Additionally, small wind turbines offer a cost-effective and sustainable alternative to diesel generators for off-grid applications. Furthermore, supportive policy initiatives and incentives by governments in the Europe, Middle East and Africa region for small wind power projects is also fueling the market growth. For instance, subsidy schemes in countries such as UK, Germany and France are promoting adoption of small wind turbines among small commercial establishments and households.
SWOT Analysis
Strength: Emea small wind turbines have higher installation flexibility compared to large wind turbines. They can be installed in smaller areas like rooftops, farms etc.
Weakness: Initial installation cost of small wind turbines is higher compared to their energy generation capacity. Maintenance of multiple small turbines installed across a large area can also increase overall costs.
Opportunity: Increasing focus on decentralized renewable energy generation due to power grid limitations in many regions of Emea provides growth opportunities. Also off-grid and hybrid applications of small wind turbines are growing.
Threats: Intermittent nature of wind power poses challenges. Subsidy cuts by governments can impact small wind power projects. Competition from other decentralised renewable technologies like solar PV can also limit market growth.
Key Takeaways
The Global Emea Small Wind Turbines Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing focus on decentralized renewable energy solutions.
Regional analysis
Germany dominates the Emea small wind turbines market currently due to favorable policy support. The UK and France also have significant market shares supported by net metering regulations and initiatives to boost renewable energy uptake. Going forward, Nordic countries are expected to witness fastest market growth due to their remote communities increasingly adopting small wind power.
Key players
Key players operating in the Emea Small Wind Turbines market are Aeolos Wind Energy Ltd, BORNAY, Braun Windturbinen GmbH, Britwind, EasyWind GmbH, Endurance Wind Power, ENESSERE S.r.l., Fortis Wind BV, iQron GmbH, PSW-Energiesysteme GmbH, Ryse Energy, SD Wind Energy Limited, TUGE Energia, Wind Energy Solutions B.V., and XZERES Wind Europe Ltd. These players are focusing on product development and partnerships to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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