Vertical: ENPBase Year: 2015
Market Size (2015)
$3.08B
Projected (2023)
$8.60B
CAGR (2014–2023)
13.6%
Key Players
11+
Small wind turbines are used throughout the developed and developing world and are primarily used in rural or remote settings in domestic and international markets. Small wind turbines can be used to power communities, businesses, schools, clinics, single households, farms and a variety of equipment. The small wind power market is driven by various factors such as rising investment towards development of clean energy, government initiatives and policies, and adoption of small winds in several commercial applications & rural households. The small wind power market has various constraints that hinder the growth of the market such as high initial cost.
The global small wind power market is expected to grow at 13.88% CAGR during the forecast period. In 2016, the market was led by Europe, with a share of 41.32%, followed by Americas with share of 36.16%.
The small wind power market has been segmented based on grid connectivity, and axis. On the basis of grid connectivity, Off-Grid accounted for the largest market share of 63.84% in 2016, with a market value of USD 2,224.9 million. It is projected to grow at the highest CAGR of 14.06% during the forecast period. Based on axis, Horizontal Axis accounted for the largest market share of 65.07% in 2016, with a market value of USD 2,267.9 million and is projected to grow at CAGR of 13.03% during the forecast period. Vertical Axis was the second-largest market in 2016, valued at USD 1,217.5 million in 2016; it is projected to grow at the highest CAGR of 15.37%.
Market synopsis
Market Size
• 2016: USD 3,485.4 Million
• 2023: USD 8,601.9 Million
CAGR
• 13.88%
Key Geographies
• Europe: 41.32%
• Americas: 36.16%
• Asia-Pacific: 15.09%
• Middle East & Africa: 7.43%
Key Leading Countries
• China
• U.S.
• U.K.
• Italy
• Germany
Key Market Drivers • Rising Investment towards development of clean energy
• Government Initiatives and Policies
• Adoption of small winds in several commercial applications & rural households
Key Market Restraint • High Initial Cost
Key Market Opportunity
• Ongoing development of small wind energy
Key Vendors
• Kingspan Group Plc. (Ireland)
• Northern Power Systems Corp. (U.S.)
• Bergey Wind Power Co. Inc. (U.S.)
• Ennera Energy and Mobility, S.L. (Spain)
• Eocycle Technologies Inc.
The Small Wind Power Market market is projected to grow at a CAGR of 13.6% from 2014 to 2023.
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View Subscription PlansSmall wind turbines are used to power remote or off-grid applications such as homes, farms, refuges or beacons. Intermediate-sized wind power systems can power a village or a cluster of small enterprises and can be grid-connected or off-grid. Small wind turbines can be developed to meet the specifications suitable for the domestic and international (developed and developing) markets. These turbines can be coupled with diesel generators, batteries and other distributed energy sources for remote use where there is no access to the grid.
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View Subscription PlansThis report applies a rigorous multi-stage research process combining primary interviews, secondary data sources, and bottom-up market modelling to ensure accuracy and completeness across all segments and geographies.
Base Year
2015
Historical Period
2014 – 2014
Forecast Period
2016 – 2023
Primary Interviews
150+
Historical data (2014–2015) and forecast period (2015–2023)
Our research process spans primary interviews with industry stakeholders combined with comprehensive secondary data analysis, validated through triangulation across multiple independent sources.
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View Subscription PlansIn competitive landscape, the report studies the growth strategies adopted by the companies between 2014 and 2016. The key players adopted various strategies to retain and/or expand their market share. The key strategy followed by most companies within the global small wind power market was that of new product development, and expansion.
The major players operating in this market, who have adopted these strategies, are Kingspan Group Plc. (Ireland), Northern Power Systems Corp. (U.S.), Bergey Wind Power Co. Inc. (U.S.), Ennera Energy and Mobility, S.L. (Spain), Eocycle Technologies Inc. (Canada), Shanghai Ghrepower Green Energy Co., Ltd (China), Guangzhou HY Energy Technology Co., Ltd (China), XZERES Wind Corporation (U.S.), Endurance Wind Power Inc. (Canada), Aeolos Wind Energy Ltd (U.K.), and City Windmills Holdings PLC (U.K.).
Market estimates by geography (2023)
InsightEurope leads with $3.58B by 2023, while Asia Pacific is projected to grow fastest at a 14.1% CAGR.
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View Subscription Plans| REGION | 2014 | 2015 | 2023 | CAGR | SHARE |
|---|---|---|---|---|---|
| Asia Pacific | $407.70M | $776.40M | $1.34B | 14.1% | 16% |
| Europe | $1.12B | $2.10B | $3.58B | 13.7% | 42% |
| Middle East and Africa | $207.90M | $362.70M | $582.90M | 12.1% | 7% |
| Americas | $986.00M | $1.83B | $3.11B | 13.6% | 36% |
| Total | $2.73B | $5.08B | $8.60B | 13.6% | 100% |
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View Subscription PlansTotal Market Size
$8.60B
| APPLICATION | REVENUE ($B) | GROWTH RATE | MARKET PENETRATION |
|---|---|---|---|
| Horizontal axis wind turbine | $5.31B | 12.8% | 62% |
| Vertical axis wind turbine | $3.29B | 15.1% | 38% |
* Revenue projections based on 2025 estimates. Growth rates represent CAGR 2024–2030. Market penetration indicates current adoption rate within addressable market segments.
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Analytical insights on Small Wind Power Market covering market dynamics, competitive landscape, and strategic outlook.
The Small Wind Power Market market is projected to reach $8.60B by 2023, growing at 13.6% CAGR. The Horizontal axis wind turbine segment holds the largest share.
The global small wind power market is expected grow moderately and register a value CAGR of 13.88% over the forecast period. Some of the prominent drivers supporting the growth of global small wind power market are identified as, rising investment into development of clean energy, favorable government initiatives and policies, and adoption of small winds in several commercial applications & rural households. However, high initial cost and fluctuating price of raw materials are the restraining factor for the caustic soda market.
Though the development of the small wind power has been promising, it is estimated to have a high potential, globally. Small wind power involves devices that produce electricity from wind. Moving air causes its blades to rotate, which generates clean energy that can be used to power a home, farm, school, or small business.
The major players of small wind continually invest in R&D for technological innovations, and come up with wind turbine rotors with compact size and introduce high-quality blades with modified and improved properties. This will reduce the noise made by the turbines and will improve its efficiency. However, recent innovations in design and turbine technology for small wind power, are expected to influence and increase the installed capacity of small wind power.
The materials predominantly used in small wind turbine majorly include the suppliers are copper, steel, and fiberglass. Steel is expensive than fiberglass. The raw material cost depends on the terms and duration with the steel manufacturers typically for one year or for multi-year duration. The availability of raw materials depends on the global and local demand & supply force, and government regulations. The price of steel, and copper is fluctuating, due to which the material cost can increase or decrease. If the price of the steel and copper is high then the material cost will also increase. Thus, the financial performance of the companies, can adversely be affected.
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Profiles of 110 companies operating in the Small Wind Power Market market, including revenue, employee count, and market positioning where available.
Showing 110 of 110 companies
Company Headquarters: Ireland Founded: 1966 Workforce: ~13,500 Company Working: Kingspan Group is one of the leading providers of sustainable building solutions across the world. It operates through five product segments, namely, insulated panels, access floor, environmental, insulation boards, and light and air. The light and air segment offer a range of daylighting and energy-efficient lighting, as well as natural ventilation and smoke management solutions. The company sells net-zero energy products under this segment. Its products have applications in the commercial & industrial, residential, and office & data sectors. The company operates in two end use groups, namely, new build and refurbishment. It has completed several projects to improve the energy-efficiency in several manufacturing sites. The company has 129 manufacturing facilities and a presence in more than 70 countries worldwide.
Company Headquarters: Denmark Founded: 1986 Company Working: Aeolos Wind Energy Ltd is one of the manufacturers of small wind turbines and towers. It offers various products which include horizontal axis wind turbines, vertical axis wind turbines, wind turbine towers, and wind turbine kits. The company holds seven patents on wind generators, control systems, blade design, and inverters. At present, its products include horizontal axis wind turbines from 500 W to 60 KW and vertical axis wind turbines from 300 W to 10 KW. The products are widely applied for home, farm, village, school, and small wind farms. Aeolos wind turbines are working in more than 60 countries and regions
City Windmills Holdings PLC manufactures small wind turbines for factories, office buildings, and households. They offers small wind-turbines for domestic roof-top uses; remote/street lighting wind-powered products; medium-sized wind-turbine products for commercial building roof-top use, such as office blocks, schools, hospitals. The company has another operational center in the USA
Northern Power Systems Corp. is engaged in designs, manufacture, deployment, and support of permanent magnet/direct drive distributed, and utility scale wind turbines. They are among the oldest and most experienced manufacturers of residential-sized wind turbines.
Endurance Wind Power Inc. is engaged in design, manufacture, delivery, and installation of a range of small and medium wind turbines. It offers projects for application in agriculture, farm, dairy, business, light industries, schools & universities, and community, municipalities globally. The company has offices in the UK, Italy and Denmark, test facilities in the U.S. and manufacturing facilities in Canada and the UK
Guangzhou HY Energy Technology Co., Ltd is a high-tech manufacturer of reliable small wind turbine products. They offer wind solar hybrid street lighting products, solar street lighting products, wind power grid-tie systems, wind solar hybrid off-grid systems, controllers and inverters, and towers &poles, while providing related services
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Historical performance and future projections (2020–2030, USD Billion)
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