Micro Wind Turbine Market - Forecast (2022 - 2027)
The Global Micro Wind Turbine Market size is forecast to reach $297.1 Million by 2027, growing at a CAGR of 6.5% from 2022 to 2027. Micro Wind Turbine is a part of electricity-generating wind turbines with an operating capacity of up to 100 kilowatts and is involved in genents caused by conventional electricity-generating technologies including oil, coal and other forating clean electricity in various locations, from urban localities to rural areas without any access to centralized grids.
Key Takeaways
Global Micro Wind Turbine Market Value Share, by Geography, 2021(%)
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Micro Wind Turbine Market Segment Analysis – By Axis Type
By axis type, Micro Wind Turbine Market has been segmented into Horizontal Axis Wind Turbine (HAWT) and Vertical Axis Wind Turbine (VAWT). Vertical Axis segment is analyzed to grow with the highest CAGR of 8.4% in the global Micro Wind Turbine Market during the forecast period 2022-2027. Structural stability of vertical axis micro turbines helps in improving the powering of residences or street lights, which in turn is aiding its market growth. Within residential sectors, wind conditions are inconsistent and turbine cannot be placed high enough, owing to dense populations as well as public ordinances, these turbines prove highly beneficial.
Micro Wind Turbine Market Segment Analysis - By Application
By application, Micro Wind Turbine Market has been segmented into off-grid and on grid. Off-grid is analyzed to witness the highest growth with a CAGR of 7.3% during 2022-2027. The burgeoning demand for sustainable energy solution within residential sector, rural communities or commercial buildings as a part of mitigating adverse impact of climate change is driving the growth of off-grid micro wind turbine market forward. With growing demand for electricity across the globe, the adoption of greener energy in developing countries with poor power transmission infrastructure or no centralized utility grids is contributing towards the growth of the market.
Micro Wind Turbine Market Segment Analysis - By Geography
By geography, Micro Wind Turbine Market has been segmented under North America, Europe, APAC, South America and RoW. APAC dominated the global Micro Wind Turbine Market with a share of 36% in 2021 and is also analyzed to witness significant growth during 2022-2027. Rising governmental support towards the expansion of renewable wind energy projects, growing shift towards sustainable energy to mitigate adverse climatic changes, and so on have attributed to the market growth in the region. Growing incentives towards promoting or encouraging commercial sectors adopt small-sized wind turbines and the inclination towards building integrated wind turbine with a vision to reduce negative impacts on the environment and human healthcare are some of the key factors driving the market growth forward in this region.
Increasing popularity of building integrated wind turbine in developing countries is driving the market growth forward
The increasing popularity of building integrated wind turbine in developing countries is driving the market growth forward. Factors such as improved reliability, enhanced efficiency at low wind speed and reduced capital cost are attributing to the growth of the market. Factors like growing convergence of lightweight compact system and aerodynamics principles in building integrated turbines maximizes the power extraction from wind, which in turn contributes towards optimum efficiency. The rising demand towards increasing performance and reliability of next-generation wind technologies while reducing the cost of wind energy is resulting in speedy expansion of the market.
Micro Wind Turbine Market Challenges
Lack of testing facilities, absence of standards and designing complexities hinders its market growth
Lack of testing facilities, absence of standards and designing complexities are considered to be the major reasons hindering its market growth. Furthermore, complexities associated with installation process, difficulties in maintenance, lack of skilled workforce acts as another challenge in the global micro wind turbine market growth. Apart from that, noise pollution associated with blade rotation and gearbox/generator noise can lead to serious environmental issues. Such factors have been eventually creating an adverse impact on the market growth.
Micro Wind Turbine Industry Outlook
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in this market.
Renewable Fuel Materials Market – Forecast (2021 - 2026)
Report Code: CMR 1072
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The growing global demand for electricity, as well as rising environmental issues such as increased emission of greenhouse gases and indoor air pollutassil fuels, have been impacting its market growth. Rising advancement towards horizontal axis wind turbine and vertical axis wind turbine is enhancing beneficiary capabilities like high reliability, low maintenance and automatic operation in adverse weather conditions, which in turn is accelerating the market demand for small wind power technology (SWP) overtime. In addition, government investment towards green electricity generation by integrating wind power technology can be considered vital in driving the global Micro Wind Turbine market growth forward in the coming time.
Report Coverage
The report: “Micro Wind Turbine Market Industry Outlook – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Micro Wind Turbine Market.
By Axis Type: Horizontal Axis Wind Turbine, Vertical Axis Wind Turbine
By Capacity Range: <10 kW, 10 kW-50 kW, 50 kW-100 kW
By Application: Off-grid, On-grid
By End Users: Commercial, Residential
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain and Others), APAC (China, Japan India, South Korea, Australia and Others), South America (Brazil, Argentina and others), and RoW (Middle East and Africa)
The report: “Micro Wind Turbine Market Industry Outlook – Forecast (2022-2027)”, by IndustryARC covers an in-depth analysis of the following segments of the Micro Wind Turbine Market.
By Axis Type: Horizontal Axis Wind Turbine, Vertical Axis Wind Turbine
By Capacity Range: <10 kW, 10 kW-50 kW, 50 kW-100 kW
By Application: Off-grid, On-grid
By End Users: Commercial, Residential
By Geography: North America (U.S, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain and Others), APAC (China, Japan India, South Korea, Australia and Others), South America (Brazil, Argentina and others), and RoW (Middle East and Africa)
Key Takeaways
- Vertical Axis Wind Turbine is analysed to witness the highest growth in the global Micro Wind Turbine Market during 2022-2027, attributing to the factors like huge demand in residential applications owing to structural stability.
- APAC Micro Wind Turbine Market held the largest share in 2021, due to rising governmental support towards expansion of renewable wind energy projects, shift towards sustainable energy to mitigate adverse climatic changes, and so on.
- Growing inclination towards renewable energy sources to meet increased electricity demands while minimizing carbon footprint along with increasing popularity of building integrated wind turbine in developing countries are analysed to significantly drive the global Micro Wind Turbine market during the forecast period 2022-2027.
Global Micro Wind Turbine Market Value Share, by Geography, 2021(%)
For More Details on This Report - Request for Sample
Micro Wind Turbine Market Segment Analysis – By Axis Type
By axis type, Micro Wind Turbine Market has been segmented into Horizontal Axis Wind Turbine (HAWT) and Vertical Axis Wind Turbine (VAWT). Vertical Axis segment is analyzed to grow with the highest CAGR of 8.4% in the global Micro Wind Turbine Market during the forecast period 2022-2027. Structural stability of vertical axis micro turbines helps in improving the powering of residences or street lights, which in turn is aiding its market growth. Within residential sectors, wind conditions are inconsistent and turbine cannot be placed high enough, owing to dense populations as well as public ordinances, these turbines prove highly beneficial.
VAWTs are generally powered by wind coming from all 360 degrees, and with its flexibility, its demand in residential sector has gained a huge traction. As compared to horizontal axis micro wind turbine, VAWT eliminates the requirement of an additional directional positioning system, which in turn reduces the overall cost of the system. According to the research study of Oxford, published in 2021, unlike traditional Horizontal Axis Wind Turbines (HAWTs), Vertical Axis Wind Turbines (VAWTs) boost each other’s performance when grouped together, resulting in 15% more efficiency. In March 2021, a U.K. based engineering company, Alpha 311 announced about the deployment of its 10 vertical axis wind turbines in O2 Arena in London with an aim to provide power to its restaurants. Such factors are analyzed to contribute towards the market growth of the vertical micro wind turbines in the long run.
By application, Micro Wind Turbine Market has been segmented into off-grid and on grid. Off-grid is analyzed to witness the highest growth with a CAGR of 7.3% during 2022-2027. The burgeoning demand for sustainable energy solution within residential sector, rural communities or commercial buildings as a part of mitigating adverse impact of climate change is driving the growth of off-grid micro wind turbine market forward. With growing demand for electricity across the globe, the adoption of greener energy in developing countries with poor power transmission infrastructure or no centralized utility grids is contributing towards the growth of the market.
Growing promotion of a sustainable and greener future worldwide is attributing towards off-grid renewable energy systems growth. In January 2021, California Energy & Power, a U.S. based wind turbine company announced about delivering vertical axis wind turbines to Hansei Corporation, a procurement and construction company in the Philippines as a part of offering electricity for lighting, signaling and electric vehicle charging stations. Such developments are poised to create significant growth opportunities for the market during 2022-2027.
Micro Wind Turbine Market Segment Analysis - By Geography
By geography, Micro Wind Turbine Market has been segmented under North America, Europe, APAC, South America and RoW. APAC dominated the global Micro Wind Turbine Market with a share of 36% in 2021 and is also analyzed to witness significant growth during 2022-2027. Rising governmental support towards the expansion of renewable wind energy projects, growing shift towards sustainable energy to mitigate adverse climatic changes, and so on have attributed to the market growth in the region. Growing incentives towards promoting or encouraging commercial sectors adopt small-sized wind turbines and the inclination towards building integrated wind turbine with a vision to reduce negative impacts on the environment and human healthcare are some of the key factors driving the market growth forward in this region.
The government of Indonesia revealed its plan to reduce the fossil fuel consumption by 26% by the end of 2020 with a vision to promote green power generation by adopting technologies like building integrated wind turbine. In 2021, the government in China allocated a budget of US$ 905.7 million towards renewable energy, out of which US$ 350 million was allocated for wind energy. Such government initiatives towards a sustainable and environment friendly energy transition is set to further contribute towards the market growth of micro wind turbines in the coming time in this region.
Micro Wind Turbine Market Drivers
Growing inclination towards renewable energy sources to meet increased electricity demands while minimizing carbon footprint drives the market forward
Growing inclination towards renewable energy sources to meet increased electricity demands while minimizing carbon footprint drives the market forward. Factors like scarcity of conventional fossil fuels and their adverse impacts on air quality have accelerated the adoption of renewable wind power technology. Growing electrification across the world such as adoption of electric cars, high-speed rail, and industrialization have necessitated the adoption of energy-efficient solutions to reduce the global carbon footprint.
Micro Wind Turbine Market Drivers
Growing inclination towards renewable energy sources to meet increased electricity demands while minimizing carbon footprint drives the market forward
Growing inclination towards renewable energy sources to meet increased electricity demands while minimizing carbon footprint drives the market forward. Factors like scarcity of conventional fossil fuels and their adverse impacts on air quality have accelerated the adoption of renewable wind power technology. Growing electrification across the world such as adoption of electric cars, high-speed rail, and industrialization have necessitated the adoption of energy-efficient solutions to reduce the global carbon footprint.
Micro wind turbines offer beneficiary capabilities of advance power generation to households while reducing electricity costs in remote locations, which in turn is aiding the market growth over time. According to “Project Drawdown” research study, micro wind turbines will increase tenfold resulting in 20 terawatt-hours of global electricity generation by 2050 offering a reduction of greenhouse gases emissions by 0.1–0.13 giga tons. In November 2021, Municipality of Gressan announced about installation of a micro wind turbine, equipped with 9 meter vertical axis, as a part of its shift towards greener future. Such factors will eventually drive the market growth of micro wind turbine in the coming time.
Increasing popularity of building integrated wind turbine in developing countries is driving the market growth forward
The increasing popularity of building integrated wind turbine in developing countries is driving the market growth forward. Factors such as improved reliability, enhanced efficiency at low wind speed and reduced capital cost are attributing to the growth of the market. Factors like growing convergence of lightweight compact system and aerodynamics principles in building integrated turbines maximizes the power extraction from wind, which in turn contributes towards optimum efficiency. The rising demand towards increasing performance and reliability of next-generation wind technologies while reducing the cost of wind energy is resulting in speedy expansion of the market.
In December 2021, Schneider Electric announced about signing a MoU with integrated energy company bp with an aim to provide decarbonized energy solution leveraging unconventional technologies like wind, solar or biofuels. In November 2020, South Korean firm Odin Energy announced about the development of building integrated wind turbine/ VAWT tower designed for urban settings with improved energy production per unit of area. Such developments are set to significantly impact the micro wind turbine market in the long run.
Micro Wind Turbine Market Challenges
Lack of testing facilities, absence of standards and designing complexities hinders its market growth
Lack of testing facilities, absence of standards and designing complexities are considered to be the major reasons hindering its market growth. Furthermore, complexities associated with installation process, difficulties in maintenance, lack of skilled workforce acts as another challenge in the global micro wind turbine market growth. Apart from that, noise pollution associated with blade rotation and gearbox/generator noise can lead to serious environmental issues. Such factors have been eventually creating an adverse impact on the market growth.
Micro Wind Turbine Industry Outlook
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in this market.
Micro Wind Turbine top 10 companies include:
Acquisitions/Product Launches
In November 2021, Archimedes Green Energys Private limited announced the launch of a Rooftop Wind Turbine, as a part of generating green as well as sustainable energy in India. This turbine was launched with the aim to meet the growing household energy requirements within the country.
In June 2021, Odfjell Oceanwind announced its collaboration with Siemens Gamesa and Siemens Energy for the development of Mobile Offshore Wind for Micro-Grid applications. This development was done to supply renewable power to oil and gas fields that require power for a limited period and these floating wind turbines can be moved from one place to another.
In March 2019, Halo Energy, a leading micro wind turbine manufacturer announced about the launch of shrouded micro wind turbines, named as HAL- 6.0 turbines. This development was done with an aim of addressing energy requirements of expanding off-grid telecom tower applications.
Relevant Report Titles:
- Capstone Green Energy Corporation
- Fortis Wind Energy
- Bergey Wind Power Co.
- Archimedes Green Energy (P) Ltd.
- Micro Turbine Technology BV
- Halo Energy LLC
- Ryse Energy
- Odfjell Oceanwind
- Brayton Energy
- FlexEnergy
In November 2021, Archimedes Green Energys Private limited announced the launch of a Rooftop Wind Turbine, as a part of generating green as well as sustainable energy in India. This turbine was launched with the aim to meet the growing household energy requirements within the country.
In June 2021, Odfjell Oceanwind announced its collaboration with Siemens Gamesa and Siemens Energy for the development of Mobile Offshore Wind for Micro-Grid applications. This development was done to supply renewable power to oil and gas fields that require power for a limited period and these floating wind turbines can be moved from one place to another.
In March 2019, Halo Energy, a leading micro wind turbine manufacturer announced about the launch of shrouded micro wind turbines, named as HAL- 6.0 turbines. This development was done with an aim of addressing energy requirements of expanding off-grid telecom tower applications.
Relevant Report Titles:
Renewable Fuel Materials Market – Forecast (2021 - 2026)
Report Code: CMR 1072
For more Energy and Power Market reports, please click here
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