Small Wind Market By Geography — Opportunity Analysis & Industry Forecast, 2024–2030
Small Wind Market Overview:
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Hybrid energy systems and the move towards off grid, decentralized power solutions are rapidly becoming the dominant trends in the small wind market due to the ability of these systems to optimally utilize renewable energy resources and provide an improved energy security. A recent example is the hybrid power project in Sri Lanka’s northern islands, funded with India’s $11-million grant. Remote areas are supplied with stable energy from solar, wind, battery, and diesel systems in this project. In addition, Finnish investment manager Innovestor Finland’s $21.2 million decentralized energy storage project for commercial properties across Finland, also shows that the focus on localized power solutions is increasing. The market is consentrated in decentralized hybrid systems which decrease reliance on non-renewable sources, decrease carbon emissions and provide a more resilient power infrastructure.
Market Snapshot:
Small Wind Market — Report Coverage:
The “Small Wind Market Report — Forecast (2024–2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Small Wind Market.
AttributeSegment
By Grid Connectivity
On-Grid
Off-Grid
By Axis Type
Horizontal Axis Wind Turbines (HAWT)
Vertical Axis Wind Turbines (VAWT)
By Capacity
Up to 10 kW
10 kW — 50 kW
50 kW — 100 kW
By Business Model
Ownership
Leasing/Power Purchase Agreement (PPA)
By Energy Storage Integration
With Energy Storage
Without Energy Storage
By Technology Type
Direct Drive Turbines
Gearbox-Based Turbines
Hybrid Systems
By Application
Residential
Commercial
Industrial
Agricultural
Community Wind Projects
Others
By Geography
North America (U.S., Canada and Mexico)
Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe),
Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific),
South America (Brazil, Argentina, Chile, Colombia and Rest of South America)
Rest of the World (Middle East and Africa).
COVID-19 / Ukraine Crisis — Impact Analysis:
The small wind market was slowed down by the COVID-19 pandemic, as supply chains for critical components such as turbines and electronics were disrupted, production times and costs increased. The pandemic also hampered work on project installations, as travel restrictions and workforce shortages slowed down new developments as well as maintenance of existing systems, which slowed down the growth in the sector during the peak of the pandemic.
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• The Russia Ukraine war further affected the small wind market by raising energy prices and thereby raising demand for renewable alternatives like wind energy. But the war caused shortages in material, such as metals and components in the region, which inflated manufacturing and installation costs. The pace of new projects was slowed by these disruptions, especially in regions that depend upon imports from Europe.
Key Takeaways:
Europe Leads the Market
Europe occupies the largest market share in the Small Wind Market owing to the growth of clean energy. In Europe, wind generation is one of the leading sources of clean energy. According to WindEurope, Europe installed 18.3 GW of new wind power capacity in 2023. Europe is expected to install 260 GW of new wind power capacity over 2024–2030. Europe leads the world in wind energy, especially offshore wind, with over 90% of today’s offshore wind farms. Rising renewable energy targets are accelerating plans for an offshore wind grid across northern Europe. Germany, the Netherlands, Belgium and Denmark pledged to install at least 65 GW of offshore wind capacity in the North Sea by 2030 and 150 GW by 2050. Therefore, wind energy continues to grow in the region.
HAWTs Lead the Market
Horizontal Axis Wind Turbines (HAWT) are the most common turbine type in the small wind market because they are more efficient than other types and have widespread adoption. The large, three blade horizontal axis design is the most efficient wind turbine configuration and as such is preferred for energy generation, according to Inspire Clean Energy. It further states that in 2020 over 300,000 HAWTs were deployed, making them the market leader. Their ability to capture wind energy more effectively over a wider range of wind conditions makes it well suited to use in a variety of applications. The reliability of HAWTs, their higher energy output and advanced technology make them the leading choice for the small wind market. Their adaptability and efficiency make them the go to option for commercial and residential installations, helping them continue to grow in the industry.
Commercial Sector Shows Fastest Growth
The commercial sector is the largest growing segment in the small wind market due to growing demand for renewable energy solutions within business. The 2024 Distributed Wind Market Report from the Pacific Northwest National Laboratory found that small wind installations recorder for 42% in commercial projects, more than any other sector. The fact that the sector is determined to cut energy costs and carbon footprints is reflected in this strong growth. For comparison, agricultural projects accounted for 34% of installations, and institutional customers including universities 11%. The projects consisted of 8% and 5% of the total projects for industrial and utility customers, respectively. This is due to the fact that small wind systems are increasingly recognized as a means to integrate into the business operations and reap the financial benefits of sustainability. Driven by corporate sustainability goals and operational cost reduction, the small wind market is being pushed forward by companies adopting renewable energy, and the commercial segment is leading the way in growth.
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Rising Demand for Clean Energy
A key driver in the small wind market is the rising demand for clean energy and sustainability, as a result of global initiatives to reduce carbon emissions. According to the U.S. Department of Energy, rapid decarbonization of the power sector is essential to meeting national climate goals, including cutting greenhouse gas emissions 50–52 % below 2005 levels by 2030 and achieving net-zero emissions by 2050. This decarbonization process depends on clean electricity, like that from small wind turbines. This could power the electrification of key sectors such as transportation, buildings, and industry, greatly reducing their carbon footprints. The push for renewable energy sources has accelerated as the U.S. seeks to eliminate 100 % of carbon pollution from electricity by 2035. As part of this shift, small wind systems are being increasingly adopted to help meet these sustainability goals and to drive growth in the small wind market.
Wind Turbine Noise
A major challenge in the small wind market is the noise produced by wind turbines. As per the U.S. Department, of Energy operating wind turbines can produce different kinds of sounds, including a mechanical hum from the generator and a whooshing from the blades. The sounds can vary from one atmospheric condition and from one listener’s sensitivity. Turbine sounds can also be influenced by factors such as the surrounding terrain and noise sources near the turbine. Despite being sited well, and despite the fact that the sounds produced by the turbines are often quieter than a whisper, perception of the noise is subjective and differs from person to person.
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Sound perception is a personal experience, and communities near wind farms may still express concerns about noise, so there is a need to document and respond to potential sound impacts. This challenge within the small wind market is mitigated through proper communication and strategies to reduce noise.
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships, and collaborations are key strategies adopted by players in the Small Wind Market. The top 10 companies in this industry are listed below: 1. Northern Power Systems 2. Bergey Windpower 3. Wind Energy Solutions (WES) 4. Xzeres Wind Corp 5. Kestrel Renewable Energy 6. Primus Wind Power 7. Eocycle Technologies Inc. 8. Bornay Aerogeneradores 9. Lagerway 10. SD Wind Energy
Scope of the Report:
Report MetricDetails
Base Year Considered
2023
Forecast Period
2024–2030
CAGR
14.9%
Market Size in 2030
$22.5 billion
Segments Covered
By Grid Connectivity, By Axis Type, By Capacity, By Business Model, By Energy Storage Integration, By Technology Type, By Application and By Geography.
Geographies Covered
North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Rest of the World (Middle East and Africa).
Key Market Players
1. Northern Power Systems
2. Bergey Windpower
3. Wind Energy Solutions (WES)
4. Xzeres Wind Corp
5. Kestrel Renewable Energy
6. Primus Wind Power
7. Eocycle Technologies Inc.
8. Bornay Aerogeneradores
9. Lagerway
10.SD Wind Energy
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