by The Emea small wind turbines market is estimated to be valued at US$ 55025.34 Mn 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 decentralized energy solutions that harness wind power to produce electricity. They are suitable for both residential and commercial applications to meet local power demand. The key advantages of small wind turbines include reliability, affordability, reduced carbon footprint and energy independence.
Market key trends:
Rising demand for decentralized energy solutions especially in off-grid areas is a major driver of the EMEA small wind turbines market. With small wind turbines, households and businesses located far away from power grids can generate their own electricity from wind energy. Furthermore, supportive government policies and incentives promoting renewable energy adoption are encouraging more individuals and companies to invest in small wind power systems. France, Germany, Italy and UK are early adopters with strong policy pushes. Technological advancements are also making small wind turbines more efficient and cost-effective for distributed power generation. Developments in renewable energy integration and storage solutions will further boost the market potential over the forecast period.
Porter’s Analysis
Threat of new entrants: Low economies of scale in manufacturing and capital requirement pose barriers for new players to enter the market.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes and presence of established players.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to differentiated components and reliance of turbine producers on suppliers.
Threat of new substitutes: Threat from alternate eco-friendly renewable energy sources like solar energy is moderate.
Competitive rivalry: Intense as players focus on product innovation, turbine efficiency, and commissioning of projects.
SWOT Analysis
Strength: Demand for decentralised renewable energy sourcescoupled with support schemes drive adoption. Off-grid applications find acceptance in remote areas with unreliable grids.
Weakness: Fluctuating wind conditions and dependency on weather patterns impact consistent energy production. High initial installation costs remain a barrier.
Opportunity: Growing focus on attainment of carbon emission reduction targets boosts small wind sector. Adoption expected to rise across commercial and industrial establishments.
Threats: Intermittency in power production forces reliance on conventional backup. Subsidy cuts and policy changes affect competitiveness against other renewables.
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 focus on attainment of carbon neutrality targets. The market size for 2023 is estimated at US$ 55025.34 Mn.
Regional analysis – Western Europe dominates the EMEA small wind turbines market currently, owing to supportive regulatory policies and incentive schemes for renewable purchases in countries like Germany, France, UK, and Italy. The Asia Pacific region is anticipated to be the fastest growing market over the forecast period with China and India leading installation and manufacturing.
Key players – 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. Major players focus on product launches and expanding regional presence to strengthen market share.
