The EMEA Small Wind Turbines Market is estimated to be valued at US$ 45,424.6 Th in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2028, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Small wind turbines are compact wind energy systems that can generate electricity for homes, farms and small businesses. Ranging from 1kW to 100kW, they provide off-grid and grid-connected power for applications such as water pumping, communications, street and traffic lighting.
Market Dynamics:
Rising focus on decentralized renewable energy sources and off-grid electrification in rural areas are expected to drive the EMEA small wind turbines market. Growing mini-grid installations and government initiatives supporting renewable energy adoption at community level will further propel the market growth over the forecast period. Additionally, favorable net metering policies and small wind turbine installation rebate schemes across various EMEA countries are encouraging more commercial and residential prosumers to deploy small wind power systems.
Market Key Trends:
The EMEA small wind turbines market is witnessing increasing deployment of roof-top wind turbines. These turbines are suitable for deployment in urban areas and at residential and commercial buildings to harness wind energy. Roof-top wind turbines have a generating capacity ranging from 1 kW to 100 kW and help reduce electricity bills of buildings. They are also easy to install and require minimal civil work. With the focus growing on distributed renewable energy sources across cities, demand for roof-top small wind turbines is expected to rise in the coming years.
SWOT Analysis:
Strengths: Small wind turbines are economical to install and maintain compared to large utility-scale turbines. They can also help meet on-site power needs of both residential and commercial buildings.
Weaknesses: Small wind turbines have lower energy output due to their smaller capacity. They are also dependent on wind speed and may not always generate power.
Opportunities: Increasing focus of governments and organizations on developing off-grid and distributed renewable energy sources is expected to drive opportunities for small wind turbines market.
Threats: Availability of cheaper substitutes like residential solar PV systems can threaten demand for small wind turbines. Dependence on weather conditions and variability in wind speeds are also threats.
Key Takeaways:
The EMEA Small Wind Turbines Market is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing focus on renewable energy integration especially in urban areas. The market was valued at US$ 45,424.6 Th in 2023.
Regional analysis indicates that the UK and Germany hold the major share of EMEA small wind turbines market currently. Both countries are promoting integration of decentralized renewable energy sources and offer various incentives for installation of small wind systems.
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 companies are focusing on development of innovative product designs and solutions to increase installation of small wind turbines across the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
