April 24, 2024

EMEA Small Wind Turbines Market is Estimated to Witness High Growth Owing to Increasing Focus on Renewable Energy Sources.

The EMEA small wind turbines market is gaining traction with increasing focus on utilizing renewable energy sources across the residential and commercial sectors. Small wind turbines are cost-effective and environment-friendly solutions for generating power in places with unreliable or no access to electricity grids. They offer various benefits such as low maintenance, easy installation, flexibility to power a single appliance or an entire home or farm. Small wind turbines can be mounted on buildings or lands to harness wind energy efficiently.

The Global EMEA small wind turbines market is estimated to be valued at US$ 63389.2 million in 2024 and is expected to exhibit a CAGR of 8.7% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in The EMEA Small Wind Turbines are Vestas, Suzlon Energy Limited, Enercon GmbH, Senvion SA, and Siemens Gamesa Renewable Energy SA.

The key opportunities in the market include developing innovative designs to improve turbine performance in varied wind conditions and focus on rural electrification projects across regions.

Major players are focusing on partnerships, acquisitions, and expansion strategies to consolidate their presence and tap into growth opportunities across emerging markets in Africa and Asia Pacific.

Market Drivers
The increasing focus on renewable energy sources to reduce carbon emissions and dependency on fossil fuels is a major market driver. Government initiatives and policies supporting the adoption of small wind power systems through incentives and subsidies are also fueling market growth. The availability of cost-effective and flexible installation options suitable for both on-grid and off-grid applications is further augmenting the demand for small wind turbines across the EMEA region.

PEST Analysis
Political: Small Wind turbines market is heavily regulated by various government bodies in EMEA region. Regulations about permitting, installation, inspection and maintenance need to be followed by manufacturers and end-users.

Economic: The small wind turbines market is driven by subsidies and tax credits offered by various European governments. However, fluctuating energy prices can impact the demand.

Social: Increased awareness about green and renewable energy sources is driving the adoption of small wind turbines for both on-grid and off-grid applications. Their usage helps reduce dependence on fossil fuels.

Technological: Advancements in electric components, battery storage and power controllers have enhanced the efficiency and output of small wind turbines. New models with vertical axis and innovative designs are becoming available. Remote monitoring technologies are also gaining popularity.

The geographical regions where the EMEA Small Wind Turbines market is concentrated in terms of value are Western Europe and Nordic countries. Countries like Germany, UK, France, Denmark and Netherlands account for a major share of total installed small wind turbines capacity in the region.

The fastest growing region for the EMEA Small Wind Turbines market is expected to be Eastern Europe. Countries like Poland, Romania, Ukraine and Belarus are witnessing rising demand for decentralized renewable energy generation to meet power needs in remote and rural areas. Supportive government policies and growing off-grid applications are fueling market growth.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it