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Small wind turbine market to register 12.49% CAGR till 2022

Energy Market Research

Analysts forecast the global small wind turbine market to grow at a CAGR of 12.49% during the period 2018-2022.

This report, Global Small Wind Turbine Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the small wind turbine market landscape and its growth prospects over the coming years.

The report also includes a discussion of the key vendors operating in this market.

Small wind turbines have a capacity rating of less than or equal to 100 kW. Wind turbines in this category range in size from smaller than 1 kW for off-grid applications to 100 kW turbines.

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One trend in the small wind turbine market is adoption of hybrid street lighting systems. Street lighting is provided by local power utilities, and a considerable amount of money is being spent to light up streets and public places to ensure visibility during the night and keep pedestrians safe.

This leads to increased energy bills for local municipalities that use off-grid systems. A standalone renewable system from a single source of renewable is insufficient due to the intermittent nature of the energy source.

This report covers the present scenario and the growth prospects of the global small wind turbine market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

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According to the report, one driver in the small wind turbine market is increasing investments in renewable energy. A positive consequence of reduced carbon emissions is the growth in clean energy technology.

The transition from fossil fuels and conventional sources of energy to renewable sources, such as wind and solar, is the key to achieving social, economic, and environmental development. As per the IEA, in 2016, global investments in renewable energy were over $300 billion.

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