Emea Small Wind Turbines Market Is Estimated To Witness High Growth Owing To Increased Adoption For Decentralized Power Generation
The Emea Small Wind Turbines Market is estimated to be valued at US$ 55025.34 Th in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Small wind turbines are compact wind turbines used for decentralized power generation in both off-grid and on-grid locations. They are used for generating power in rural areas, towns and municipalities as alternative sources of energy. The small wind turbines directly produce electricity from the kinetic energy of wind and provide clean, renewable and cost-effective source of energy.
Market key trends:
Increased adoption of small wind turbines for decentralized power generation is the major trend witnessed in the Emea small wind turbines market. The rising demand for off-grid and unreliable grid electrification is increasing the use of small wind turbines for community based electricity access. Moreover, growing focus toward development of green and sustainable energy is also boosting the adoption of small-scale wind power systems. Various government incentives and installation of multi-utility wind towers are further expected to drive the demand for small wind turbines market in Emea during the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate as small-scale wind turbine manufacturing requires moderate initial investments. However, established players enjoy economies of scale.
Bargaining power of buyers: The bargaining power of buyers is moderate as buyers have numerous product options from different suppliers. However, switching costs are low.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as key components such as blades, bearings are supplied by few specialized component makers globally.
Threat of new substitutes: The threat of new substitutes is high as renewable energy sources like solar PV witness rapid cost reductions.
Competitive rivalry: is intense as the industry players compete on pricing and technological innovation.
SWOT Analysis
Strength: Most of the key players have strong distribution networks and R&D capabilities to regularly upgrade their product portfolios.
Weakness: Initial investments and maintenance costs are higher compared to solar PV. Intermittent power generation depends on wind conditions.
Opportunity: Growing emphasis on renewable sources by governments through supportive policies and incentives drives demand. Remote areas not connected to main grids present opportunities.
Threats: Frequent changes in government policies and subsidies affect demand. Stiff competition from solar PV poses pricing pressures.
Key Takeaways
The Global Emea Small Wind Turbines Market Size is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing deployment of off-grid wind solutions across rural regions with limited access to power grids. Government incentives promoting small wind projects and availability of innovative product designs from manufacturers are fueling new installations.
Regional analysis
The EMEA small wind turbines market is dominated by Europe, which accounts for around 60% share. Countries like Germany, UK, France and Italy have conducive policy environment and large rural areas suitable for localized wind energy projects. Meanwhile, nations in Middle East & Africa are emerging hotspots, driven by electrification programs and clean resource development plans. South Africa, Kenya and Ethiopia in particular have ramped up installations of small wind turbines recently.
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. Key players are focusing on specialized product designs and integrated solutions to tap lucrative rural applications.
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