The EMEA small wind turbines market consists of wind turbines ranging from up to 100 kW that are primarily used for on-grid and off-grid applications in residential and commercial establishments. Small wind turbines provide clean energy and help reduce carbon footprint and electricity bills of customers. The European Union and several Middle Eastern and African countries are investing heavily in the development of renewable energy sources to meet growing electricity demand in a sustainable manner. Small wind turbines require lower installation and maintenance costs as compared to large utility-scale turbines and are well-suited for decentralized power production.
The Global EMEA Small Wind Turbines Market is estimated to be valued at US$ 63389.2 million in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in The EMEA Small Wind Turbines Market are Indivior PLC, Alkermes, Orexo AB, Titan Pharmaceuticals, Inc., Teva Pharmaceutical Industries Ltd., Mallinckrodt Pharmaceuticals, BioDelivery Sciences International Inc., Viatris Inc., Pfizer, Inc., Hikma Pharmaceuticals PLC, and Camurus. The leading players are focusing on new product launches, partnerships, and expansion of their distribution networks to strengthen their positions in the market.
The demand for small wind turbines is increasing due to growing emphasis on renewable energy integration and energy security across the EMEA region. Several national renewable energy action plans target increased deployment of distributed renewable energy systems over the coming years. The technology is finding increased adoption for off-grid applications such as water pumping, desalination, and powering telecom towers in rural and remote locations.
Major players are also expanding their presence across different countries in the EMEA region to tap the growth potential through partnerships with local integrators, distributors and equipment manufacturers. Local manufacturing is also being setup in high growth countries which is helping to reduce costs and address specific regulatory, technical and cultural requirements of local markets.
Market key trends
The EMEA small wind turbines market is being driven by increasing investments in renewable energy integration at the distribution and off-grid level. Rural electrification programs in Africa coupled with declining technology costs are helping to boost the small wind segment. The trend towards hybrid systems combining wind turbines with solar PV and battery storage is also gaining traction as they provide firm, reliable and cost-effective power for off-grid applications. Technology advancements including use of rare earth magnets and advanced airfoils are helping to improve the performance of turbines. The development of innovative business models like customer-ownership are also supporting the adoption of small wind power systems across the region.
Porter’s Analysis
Threat of new entrants: The threat of new entrants into the EMEA small wind turbines market is low as it requires high initial investments and established supply chains. Moreover, the market is dominated by few major players.
Bargaining power of buyers: The bargaining power of buyers is high in this market. Buyers can negotiate on price as there are many manufacturers providing similar products.
Bargaining power of suppliers: The bargaining power of suppliers is moderate. Being an emerging technology, suppliers of raw materials and components have some control over pricing but the availability of substitutes limits their power.
Threat of new substitutes: Threat of new substitutes is medium as alternate sources of renewable energy such as solar are increasingly being adopted.
Competitive rivalry: The competitive rivalry is high due to presence of numerous global and regional vendors competing on basis of product quality, features, and pricing.
Geographical regions with high market value
Western Europe accounts for the major share in the EMEA small wind turbines market in terms of value owing to supportive government policies and incentives promoting adoption of renewable energy sources. Countries like Germany, UK, France etc are major European markets.
Fastest growing region
Central and Eastern Europe is expected to be the fastest growing regional market during the forecast period driven by ongoing investments in rural electrification initiatives throughout the region. Countries like Poland, Romania, Ukraine etc are showing high growth potential.
