Global Small Wind Power Market is Estimated to Witness Lucrative Growth with A CAGR of 19.5%

Date: 2015-08-30

“The global small wind power market is estimated to witness lucrative growth with a CAGR of 19.5% for the next five years. The growth in this market is propelled by the economic advantages of wind power and its increasing competitiveness relative to other sources of electricity, as well as the pressing need to implement emission-free technologies to mitigate environmental concerns such as climate change and air pollution.

The Asia-Pacific market will register highest growth by 2019 owing to the significant investments being made for small wind power technologies in the region. The growth of this region is supplemented by the rising need for clean electricity in developing economies such as India and China.

The major economic benefit of wind power is that it reduces the exposure of economies to fuel price volatility, which is expected to drive its market globally. In addition to this, robust economic development, greater awareness about the benefits of renewable energy sources, plummeting costs of wind energy generation, and encouraging environment policies are projected to support the growth of the small wind power market in coming years.

The small wind power market is segmented on the basis of type, application, and region. This report covers the global small wind power market in major regions, such as North America, Europe, and Asia-Pacific. The on-grid application segment is projected to dominate the global small wind power market, by application between 2014 and 2019. By type, horizontal axis wind turbine is estimated to have the largest market during the forecast period. 

This report analyzes various market trends and establishes the most effective growth strategy in the market. It identifies major market dynamics, such as drivers, restraints, opportunities, and challenges. The key small wind power companies, such as Northern Power Systems Inc. (U.S.), Bergey Wind Power Co. (U.S.), Kingspan Group Plc. (Netherlands), Shanghai Ghrepower Green Energy Co. Ltd. (China), Endurance Wind Power Inc. (Canada), ZKEnergy Technology Co., Ltd. (China), and Xzeres Wind Corp. (U.K.) have also been profiled in the report. 

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