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, ...