Market Is Estimated To Witness High Growth Owing To Growing Renewable Energy Targets & Falling Technology Costs

EMEA Small Wind Turbines 

The EMEA Small Wind Turbines Market is estimated to be valued at US$ 45,424.6 Th in 2023 and is expected to exhibit a CAGR of 6.6% over the forecast period from 2023 to 2028, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Small wind turbines are the electric generators used for converting kinetic energy of wind into electricity. These are designed for residential or commercial usage producing between 1 kW to 100 kW of electricity. They primarily operate independently or as hybrid systems in areas with limited access to electric grids.

Market Dynamics:
The EMEA small wind turbines market is driven by growing renewable energy targets set by various governments in the region and falling technology costs. European Union has mandated that 32% of total energy production in the region needs to come from renewable sources by 2030. This is increasing investments and demand for small wind turbine installations. Moreover, improvements in manufacturing processes have led to 25-30% reduction in per unit production costs between 2010 to 2020. Average installation costs for small wind turbines have declined from $6,000/kW to $4,000/kW in last decade. Lower costs are making them affordable renewable energy option for both rural homes and small commercial establishments in the region. Additionally, growing demand for reliable off-grid power solutions especially in remote areas across Africa is also supporting market expansion.

SWOT Analysis:
Strength: EMEA small wind turbines market has strong government support through various subsidies and tax incentives which boosts adoption. Established wind energy R&D ecosystem in Europe provides technological edge. Small wind turbines offer off-grid power generation solution ideal for remote areas.
Weakness: Intermittency of wind resource leads to inconsistent power output. Higher cost of installation and maintenance compared to alternatives weakens economic case. Limited scalability potential constrains addressable market.
Opportunity: Growing mini-grid installations driven by last mile electrification programs present an untapped growth avenue. Adoption in micro-grid and hybrid power systems complemented by solar and storage mitigates resource variability.
Threats: Policy support reforms and subsidy cuts can impact demand. Stiff competition from falling solar PV and battery storage prices poses a disruptive threat.

Key Takeaways:
The EMEA Small Wind Turbines Market is expected to witness high growth, exhibiting CAGR of 6.6% over the forecast period, due to increasing investment in rural electrification across developing nations.

Regional analysis
Europe dominates the EMEA small wind turbines market with over 60% share in 2020. Strong policy push, awareness, and funding availability drive Europe's lead. Asia Pacific is anticipated to exhibit fastest growth owing to initiatives to power remote communities and mini-grids in India, Indonesia, and Africa.

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.

Read More - https://www.dailyprbulletin.com/the-burgeoning-emea-small-wind-turbines-market-set-to-drive-decentralized-renewable-energy-generation-share/

 

















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