The small wind turbine market is expected to grow to $1.8 Billion by 2019

The small wind turbine market is expected to grow to $1.8 Billion by 2019

small wind turbine market forecast

Research and Markets has released their 2015-2019 forecast for the small wind turbine market and believe the industry will grow by a CAGR of 19.5% (with the on-grid segment growing by a CAGR of 20.1%).
Here’s a snippet from the report summary:
“The small wind market is expected to grow as a result of the increasing demand for electricity worldwide. This increasing demand is attributed to the growing industrialization and increasingly deeper penetration of electricity in unconnected areas. Increasing concerns regarding the adverse environmental effects, price volatilities, and economic costs brought about by the usage of fossil fuels has compelled nations into adopting renewable sources for electricity generation over the past decade.
The market players of small wind continually invest in R&D to reduce the size of the wind turbine’s rotor and to introduce high-quality blades with modified and improved properties. This will reduce the noise generated from the turbines and increase its efficiency. They also invest in expansion of their production facilities in different countries to strengthen their global reach.”
Not surprisingly, the report found small wind turbine manufacturers rely on regional and local distributors to increase their market share, along with growth strategies like acquisition in high demand markets. These techniques allow them to grow their customer base more quickly and efficiently. Additionally, manufacturers are forced to invest in research and development as application requirements and operating conditions are ever changing.
Overall the small wind turbine industry is expected to flourish in the next few years as demands for small distributed wind continually increases.

Posted By Sally on September 4, 2015 | 0 Comment

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