Leading Driver In The Small Wind Market 2025: Increasing Electricity Demand Set To Propel Market Growth

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LONDON, GREATER LONDON, UNITED KINGDOM, February 19, 2025 /EINPresswire.com/ -- Is the Small wind Market Set to Witness Substantial Growth?

The small wind market size has grown rapidly in recent years and is expected to grow from $1.3 billion in 2024 to $1.44 billion in 2025 at a compound annual growth rate CAGR of 10.9%. Declining turbine costs, government incentives, rising energy demand, increasing environmental awareness, off-grid electrification needs, and the push for renewable energy integration have significantly contributed to this historic growth. Additionally, the anticipatory growth to reach $2.16 billion in 2029 at a CAGR of 10.7% suggests a fertile market landscape in the forthcoming period.

A deeper dive into this market reveals specifics about growth trends. The growth projected for the forecast period will be driven by factors such as growing grid connectivity, enhanced efficiency of vertical axis turbines, the expansion of renewable energy policies, and increasing urban energy independence. Advancements in blade design, materials, and control systems will also play a significant role in this market, with the rise of smart grid technologies and ongoing climate change mitigation efforts expected to influence industry trends.

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What Drives The Small wind Market Growth?
A strong indicator of market growth moving forward is the increasing electricity demand. Electricity, the flow of electric charge that powers devices and machines, is seeing a surge in demand due to population growth, industrial expansion, and the widespread adoption of technology and electric vehicles. Small wind turbines offer a sustainable and cost-effective way to generate electricity, especially in suitable wind conditions. This helps lower the carbon footprint and reduces the environmental impact associated with traditional energy sources.

For example, in July 2024, an IEA report projected a global electricity demand rise of about 4% in 2024, up from 2.5% in 2023. Additionally, the share of renewable electricity is expected to increase rapidly, from 30% of global supply in 2023 to 35% by 2025, propelling growth in the small wind market.

Who Are The Key Players In The Small wind Market?

Major companies operating in the small wind market include SMA Solar Technology AG, Suzlon Energy Ltd., and AeroVironment Inc., to name a few. These industry leaders are innovatively leveraging aeroleaf hybrid technology to capture wind energy in low-speed conditions while integrating advanced materials and design innovations to improve performance and aesthetics in urban and residential environments.

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How Is The Small wind Market Segmented?
In terms of market segmentation, the small wind market is categorized by type, installation, and application. Types include horizontal axis wind turbines and vertical axis wind turbines, while installations are either off-grid or on-grid. Applications can be commercial, residential, or utilities. Furthermore, horizontal axis wind turbines are sub-categorized as upwind, downwind, grid-connected, and off-grid turbines and vertical-axis wind turbines include Darrieus, Savonius, hybrid, and small-scale turbines.

What is the Regional Analysis Of Small wind Market?

Regionally, Europe was the largest wind market in 2024. The report also covers regions like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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