by The global Emea Small Wind Turbines Market is estimated to be valued at US$ 55025.34 thousand 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 are designed to supplement the power supply of individual homes, farms, or small businesses. They capture kinetic energy from wind and convert it into rotational mechanical energy by means of a rotor and generator. Small wind turbines have the advantage of requiring less wind for power generation owing to their design. They are sustainable, economical, and do not emit greenhouse gases during operations. With rising concerns over climate change and depleting fossil fuel reserves, small wind turbines provide an alternative source of renewable energy at a local scale.
Market key trends:
One of the key trends in the Emea small wind turbines market is the growing focus on developing innovative designs to extract higher energy from low wind speeds. Small wind turbines designed for low wind speeds can generate adequate electricity even in areas with average wind speeds below 4 m/s. Companies are investing in R&D to improve rotor blade designs, optimize turbine height, incorporate energy storage, etc. to make small wind turbines more efficient and productive in lower wind regimes. In addition, the development of rooftop or building integrated wind turbines suitable for urban areas is expanding the addressable market for small wind power systems. Governments across Europe are also promoting renewable energy adoption through regulatory frameworks and fiscal incentives, thereby boosting demand for small wind turbines.
Porter’s Analysis:
Threat of new entrants: The EMEA small wind turbines market faces low threat of new entrants due to presence of established players and requirement of high initial investment for manufacturing facilities and R&D activities.
Bargaining power of buyers: Buyers have moderate bargaining power in the market due to availability of various product options from key players.
Bargaining power of suppliers: Suppliers have moderate bargaining power owing to availability of substitute components and the bargaining power of established players.
Threat of new substitutes: Threat of substitution is low as small wind turbines are a unique product with properties that cannot be easily substituted.
Competitive rivalry: The market witnesses high competitive rivalry among the key established players.
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 demand for off-grid power generation systems particularly in remote areas.
Regional analysis: Europe dominates the EMEA small wind turbines market and is expected to continue its dominance over the forecast period. Growing investments towards renewable energy generation in countries like UK, Germany, Norway, Sweden etc. is propelling the demand of small wind turbines in the region.
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. Aeolos Wind Energy Ltd specializes in designing and manufacturing small wind turbines for both on and off-grid applications.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
