Small wind turbines offer advantages such as easy installation and low maintenance costs. The global EMEA Small Wind Turbines Market is estimated to be valued at US$ 871 million in 2023 and is expected to exhibit a CAGR of 8.7% over the forecast period 2024 to 2032, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Access to renewable energy solutions has been one of the key trends driving growth in the Global EMEA Small Wind Turbines Market Size. Many countries in the region have introduced supportive policies and incentive schemes to encourage adoption of distributed renewable energy technologies including small wind turbines. For instance, the United Kingdom offers financial incentives such as feed-in tariffs and renewable heat incentives to boost investments in small scale wind energy projects. Similarly, Germany provides low interest loans and grants for installation of small wind turbines. With growing emphasis on decentralizing energy production and boosting the share of renewable sources in the overall energy mix, the demand for small wind turbines is expected to rise significantly over the coming years. The focus on developing off-grid and hybrid power systems integrating small wind turbines will further support the market growth.
Segment Analysis
The EMEA small wind turbines market is dominated by the residential micro wind turbine segment. Residential micro turbines of capacity less than 100 kW are extensively used for decentralized power generation in rural areas and off-grid locations in countries across Europe, Middle East and Africa. Their small size and cost-effectiveness make them suitable for powering homes, small communities and telecom towers located in remote places without access to electricity grid.
Key Takeaways
The global EMEA small wind turbines market is expected to witness high growth in the forecast period.
Regional analysis shows that Western Europe leads currently with over 50% market share attributed to presence of supportive renewable energy policies and incentives. However, Middle Eastern nations are fastest growing markets driven by investments in distributed renewable energy projects to meet domestic power demand and reduce dependence on imported fossil fuels.
Key players operating in the EMEA small wind turbines market are Vestas, Senvion, Siemens Gamesa, Enercon, and Winergy. Vestas dominates with over 25% market share while Senvion leads the way in Middle East backed by strong installed base. Competition is intense with foreign players entering new markets through strategic partnerships.
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