by The Emea Small Wind Turbines Market is estimated to be valued at US$ 55025.34 Th 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 low weight wind turbines used for distributed power generation. These turbines range from 1 kW to 100 kW and are ideal for residential, commercial and industrial applications. They provide off-grid power solutions as well as supplement grid connected power. They are mounted on top of buildings or on towers to harness wind energy. Their blades rotate due to wind blowing and this motion is converted to electrical energy via an alternator. Their compact size, ease of installation and low maintenance requirements make them an attractive renewable energy option.
Market Dynamics:
Distributed power generation is gaining traction as businesses and homeowners aim for clean and affordable energy sources. The distributed nature of small wind turbines allows easy installation close to the point of use thereby improving energy security. Furthermore, small wind found extensive use in rural areas and islands where conventional grid infrastructure is limited. The rising costs of conventional power and supportive government policies promoting renewable purchases through incentives have augmented the adoption of small wind turbines across EMEA region. However, high initial capital costs and inconsistent wind availability remain key challenges. Technological advancements to improve turbine performance especially at low wind speeds coupled with new business models are expected to drive further market growth over the forecast period.
Segment Analysis
The Emea small wind turbines market is dominated by the residential segment. Small wind turbines used in residential or homesteads are usually rated below 100 kW and are used to generate electricity for individual homes, farmhouses or small businesses. Their compact size and ability to provide off-grid power supply make them very popular for residential applications.
PEST Analysis
Political: Supportive government policies around renewable energy and availability of subsidies are driving the adoption of small wind turbines in the EMEA region. Some countries have set targets for share of renewable energy in total electricity generation.
Economic: Declining prices of wind turbine components in recent years has made small wind turbine systems more affordable. Their ability to provide long term energy cost savings is appealing many homeowners and businesses.
Social: Increasing environmental awareness and need for reliable off-grid power are contributing to social acceptance of small wind power systems. They enable reduced carbon footprint.
Technological: Advancements in power electronics, aerodynamic design and lightning protection systems have enhanced the energy output and reliability of small wind turbines. Improved power control and grid synchronization abilities have also boosted their popularity.
Key Takeaways
The Emea Small Wind Turbines Market Size was valued at US$ 55025.34 thousand in 2023 and is expected to reach US$ 90731.53 thousand by 2030, expanding at a CAGR of 6.6% during the forecast period. Rapid decentralization of power supply and growing off-grid electrification needs in rural areas across Africa and Middle East are expected to drive the sales of small wind turbines in the coming years.
Regional analysis – Strong growth is projected for the small wind turbines market in Eastern Europe over 2023-2030. Countries like Poland, Turkey and Ukraine are investing heavily in renewable energy and offer lucrative incentives for small wind power projects. The availability of open lands and average wind speeds of over 6 m/s also make the region ideal for small wind installations.
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 new product launches and expansion in high growth markets to bolster their regional presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
