Small Wind Power Market Research Report- Forecast to 2023
SMALL WIND POWER MARKET PREDICTED TO GROW USD 1,338.1 MILLION BY 2023.
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Copyright © 2018 Market Research Future.
Small Wind Power Market Research Report- Forecast to 2023
1 Summary Small wind turbines are used to power remote or off-grid applications such as homes, farms, refuges or beacons. On the basis of region, Europe accounted for the largest market share of 41.32% in 2016, with a market value of USD 1,440.2 million and is projected to grow at CAGR of 13.98% during the forecast period. The small wind power boom is part of a wider move from fossil fuels to renewable energy, across the European Union. European governments and the EU, as a whole, have supported small wind projects with favorable incentives as part of their carbon emission reduction goals. The recorded small wind capacity, installed in Europe has reached over 272.6 MW by the end of 2015. The United Kingdom heads the market, with 15% of global installed capacity in 2015.
Key Players: The key players of global small wind power market are Kingspan Group Plc. (Ireland), Northern Power Systems Corp. (U.S.), Bergey Wind Power Co. Inc. (U.S.), Ennera Energy and Mobility, S.L. (Spain), Eocycle Technologies Inc. (Canada), Shanghai Ghrepower Green Energy Co., Ltd (China), Guangzhou HY Energy Technology Co., Ltd (China), XZERES Wind Corporation (U.S.), Endurance Wind Power Inc. (Canada), Aeolos Wind Energy Ltd (U.K.), and City Windmills Holdings PLC (U.K.).
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Copyright Š 2018 Market Research Future.
Small Wind Power Market Research Report- Forecast to 2023
2 Market Overview: The global small wind power market has perceived remarkable opportunities across the world, owing to increase in awareness among consumers about the use of renewable energy sources. Moreover, increase in demand for renewable sources for energy generation coupled with rapid industrialization boost the growth of the global small wind power market. It is expected that the market is going to witness a significant growth of the global small wind power market, due to rise in demand for energy and increase in concerns about the environmental impacts of power generation using fossil fuels. Also, the growing attention of government agencies through high investments to improve electricity generation by integrating renewable sources of energy, such as wind energy, has boosted the global small wind power market growth. Small wind power are steady and are of faster speeds resulting in higher & reliable energy generation. The growth in this sector can be attributed to the increasing demand for clean and reliable energy in order to reduce the global carbon emissions and to maintain ecological balance by generating electricity through renewable resources. However, inconsistent yielding of constant power output can hinder the small wind power market.
Scope of the Report This study provides an overview of the global small wind power market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global small wind power market by its type, by application and by region. By Type
Horizontal axis wind turbine Vertical axis wind turbine
By Application
On-Grid Off-Grid
By Regions
North America Asia Pacific Europe Rest of the World
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Copyright © 2018 Market Research Future.
Small Wind Power Market Research Report- Forecast to 2023
Market Research Analysis: For the purpose of study, global small wind power market is segmented by grid connectivity and by axis. Based on grid connectivity, the market has been divided into on-grid and off-grid. Off-Grid accounted for the largest market share of 63.84% in 2016, with a market value of USD 2,224.9 million and is projected to grow at the highest CAGR of 14.06% during the forecast period. An off-grid solution is a system that works independently and is not connected to the electricity distribution system. It also called stand-alone systems. On-Grid was the second-largest market in 2016, valued at USD 1,260.5 million in 2016; it is projected to grow at a CAGR of 13.57%. A grid-connected small wind turbine system, or grid-connected system is an electricity generating small wind turbine system that is linked to the utility grid. A gridconnected wind turbine can reduce your consumption of utility-supplied electricity for your domestic appliances or bigger loads for business empowerment.
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Copyright Š 2018 Market Research Future.
Small Wind Power Market Research Report- Forecast to 2023
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Copyright Š 2018 Market Research Future.