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Small wind turbine market slated for growth due to increased demand from allied industries

Press release August 20, 2014 Small wind turbine market, small wind turbine industry, small wind turbine industry

Small wind turbines are used for the micro-generation of energy mainly to small-scale commercial customers and residential customers.

The small wind turbine market has continued to grow over the past few years. As of 2012, there were at least 806,000 small wind turbines installed all over the world. This is an increase of 10% compared with the previous year, when 730,000 units were registered. Research forecast that global installations will grow from an estimated 85.8MW in 2012 to 172MW in 2018, representing USD 3.3 billion in revenues.

This report, Global Small Wind Turbine Market 2014-2018,provides a detailed analysis of the market and focuses on the growth trends, major players, recent developments and key drivers of the global small wind turbine market.

Market overview

Analysts forecast that the market will grow at a CAGR of 18.7% in the period from 2013-2018. According to the report, several factors drive the growth of the global small wind turbine market. Advances in the technology of small wind turbines are one of the most important growth drivers. Many vendors are investing heavily in R&D to reduce the size of the wind turbine's rotor. This will not only increase the efficiency of the turbine, but also reduce the noise generated from the turbine.

Market trends

One of the major trends being witnessed in the global small wind turbine market is the opportunity to sell excess generated power to the main power grid and thereby, offset costs. Many small commercial projects use small wind turbines for their power requirements during the lifespan of the project. During this time, the excess power that is generated can be sold to the main grid, enabling these companies to earn sizable revenue. To generate additional power, many operators are installing high wind turbines (increasing the length of the tower) to capture optimal wind energy.

Key regions

China is by far the largest market in terms of units installed, representing 70% of the world market in terms of total as well as new installed units. According to estimations, around half of the turbines continue to produce electricity in China given that this market started already in the early 1980s. The second-largest market is the US with a total of 155,000units installed, clearly behind China, but well ahead of a number of medium-sized small wind markets. The UK, Canada, Germany, Japan and Argentina are all medium-sized markets with total number of small wind turbines between 7,000 and 23,500 units.

Five countries (Canada, China, Germany the UK and the US) account for over 50% of all small wind manufacturers. Research showed that by the end of 2011, there were over 330 small wind manufacturers that were identified in the world offering complete one-piece commercialized generation systems.

Based on the global distribution of turbine manufacturers, the production of small wind remains concentrated in few world regions: in China, North America and several European countries. Developing countries continue to play a minor role in small wind manufacturing.

Key players

The key players include Bergey Windpower Co. Inc., Entegrity Wind System Inc., Northern Power System Inc., XZERES Corp., Ampair Energy, DyoTech, Endurance Wind Power, Evance Wind Turbines, Fortis Wind Energy, Gaia-Wind, Kestrel Wind Turbines, Polaris America, Raum Energy, Urban Green Energy and Windspire Energy.

For further insights,

Visit: Small wind turbine market slated for growth due to increased demand from allied industries

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SOURCE: Researchonglobalmarkets.com

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Small wind turbine market, small wind turbine industry, small wind turbine industry


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