Germany Small Wind Power Market Analysis
Market Research Future (MRFR) projects the Germany Small Wind Power market to reach USD 14.80 Billion at a CAGR of 14.82% from 2024 to 2030 (forecast period).
Small wind turbines include a broad variety of wind turbines, ranging from micro turbines to residential turbines and mini turbines. The wind turbines used in such end-use applications have power ratings spanning from a few watts to a thousand watts. Small wind turbines involve wind turbines up to 15 meters in diameter.
The Germany Small Wind Power market has seen enormous opportunities around the globe as consumers become more aware of the use of renewable energy sources. In addition, the rise in demand for renewable energy sources, combined with rapid industrialization, is boosting the development of the Germany Small Wind Power market. In addition, the market has seen significant growth in recent years due to an increase in energy demand and an increase in concerns regarding the environmental impact of power generation using fossil fuels. In addition, increased investment by government agencies to boost electricity generation by incorporating renewable energy sources, such as wind, has bolstered market growth.
COVID-19 Impact on the Germany Small Wind Power Market
The industry is expected to experience a moderate slowdown due to the worldwide outbreak of a new coronavirus pandemic. Manufacturing operations are at a halt because of labor shortages. This has led to a substantial decrease in demand from the end-use industries.
Market Segmentation
The Germany Small Wind Power Market Share has been segmented into grid connectivity, axis, and capacity.
Based on the grid connectivity, the market has been segmented into On-Grid and Off-Grid.
Based on the axis, the market has been segmented into Horizontal Axis and Vertical Axis.
Based on the capacity, the market has been segmented into up to 2 kW, 2 kW to 5 kW, and 5 kW to 10 kW.
Regional Analysis
Region-wise, the Germany Small Wind Power market has been segmented into Europe, North America, Asia Pacific, and the rest of the world.
Europe to rise with the highest CAGR
Europe held the largest market share of 41.32% in 2016, with a market value of USD 1.440.2 million, and is expected to rise at a CAGR of 13.98% during the assessment period. The Germany Small Wind Power boom is part of a larger transition from fossil fuels to renewable energy across the European Union. European governments and the EU have promoted small wind projects with attractive incentives as part of their carbon emission reduction targets. The recorded small wind capacity placed in Europe reached more than 272,6 MW by the end of 2015. The UK was the industry leader with 15% of global installed capacity in 2015.
Competitive Landscape
- Northern Power Systems Corp. (U.S.)
- Kingspan Group Plc. (Ireland)
- Bergey Wind Power Co. Inc. (U.S.)
- S.L. (Spain)
- Ennera Energy and Mobility
- Eocycle Technologies Inc. (Canada)
- Guangzhou HY Energy Technology Co. Ltd (China)
- Shanghai Ghrepower Green Energy Co. Ltd (China)
- Endurance Wind Power Inc. (Canada)
- XZERES Wind Corporation (U.S.)
- City Windmills Holdings PLC (U.K.)
- Aeolos Wind Energy Ltd (U.K.), among others
Notable players in the market have adopted various strategies to maintain and/or increase their market share. The main strategy adopted by the majority of companies in the Germany Small Wind Power industry was the development of new products. A new product development approach has been widely adopted to increase the number of product offerings to the consumer. For example, Eocycle Technologies Inc. has released its next-generation EO25 wind turbine. The new wind turbine offers a 65% increase in energy production compared to the same model from the previous generation. No other small wind turbine can match its performance. At 6 m/s, the turbine has a certified capacity factor of 44%, culminating in an annual output of more than 87,000 kWh.
Summary
The Germany Small Wind Power market is anticipated to reach USD 14.80 Billion at a CAGR of 14.82% from 2024 to 2030 (forecast period). Small wind turbines are used to power remote or off-grid applications like homes, farms, refuges or beacons. The Germany Small Wind Power market has seen enormous opportunities around the globe as customers become more conscious of the use of renewable energy sources. In addition, increased demand for renewable energy sources, coupled with increasing industrialization, is fueling the growth of the Germany Small Wind Power market.
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