Illinois, 30 May 2018(News)- The world economy continues to experience intense growth and restructuring. Natural resources are diminishing at alarming rates and irretrievable destruction is being done to the environment. Fossil fuels remain in high demand as their accessibility decreases and the environmental concerns rise. It is projected that the Small Wind Power Market will grow at a promising pace in the forecast period. Small wind power is among the cleaner power generation technologies, and it has the least negative impact on the environment. Small wind turbines have the capacity up to 100 KW. These turbines have numerous applications in residential, commercial, providers, farms, and small industrial facilities.
One of the major drivers for the growth of small wind power market, is the government initiatives and policies, which play a major role. In Japan and EU countries, policies such as feed-in tariffs, net metering, tax credits, and capital subsidies are the key energy policies geared precisely towards small wind. The small wind power sector has been promoted, particularly from the growing global trend of feed-in tariffs (FITs). For instance, Denmark is preparing for the introduction of a feed-in tariff (FIT) for small wind turbines. The planned remuneration is 0.33 euros per Kilowatthour (kWh) for units up to 10 Kilowatt (kW) and 0.20 euros/kWh for up to 25 kW. Such supportive policies, will allow the small wind sector to grow substantially.
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Some of the key players of global small wind power market are Kingspan Group Plc. (Ireland), Northern Power Systems Corp. (U.S.), Bergey Wind Power Co. Inc. (U.S.), Ennera Energy and Mobility, S.L. (Spain), and Eocycle Technologies Inc. (Canada). Shanghai Ghrepower Green Energy Co., Ltd (China), Guangzhou HY Energy Technology Co., Ltd (China), XZERES Wind Corporation (U.S.), Endurance Wind Power Inc. (Canada), Aeolos Wind Energy Ltd (U.K.), and City Windmills Holdings PLC (U.K.) are among others.
Objective of Global Small Wind Power Market Analysis & Forecast, from 2017 to 2023:
• To provide detailed analysis of the market structure, along with forecast of the various segments and sub-segments included in global small wind power market (for the next five to ten years), with the analysis of its development and demand in the market
• To identify high growth regions and countries
• To study regional and country-specific demand and forecast for global small wind power market
• To cover the key segments of grid connectivity, axis, and region.
• To finalize unit breakdown for all different classifications required for forecasting, considering various factors
• To identify forecast demand for all probable segments for all the regions, and to collect the historical figure, data through primary and annual reports to derive the regional and country level market size
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• Wind farm owners, operators, and developers
• Research Institutes & education institute
• Potential investors
• Government agencies
• Electric utilities
• Key executive (CEO and COO) and strategy growth manager
• Global small wind power market is expected to reach USD 8,601.9 million by 2023.
• By grid connectivity, Off-Grid accounted for the largest market share of 63.84% in 2016, with a market value of USD 2,224.9 million and is projected to have the highest CAGR of 14.06% during the forecast period.
• By Axis, Horizontal Axis accounted for the largest market share of 65.07% in 2016, with a market value of USD 2,267.9 million and is projected to have a CAGR of 13.03% during the forecast period.
• Based on region. Europe accounted for the largest market share of 41.32% in 2016, with a market value of USD 1,440.2 million and is projected to have a CAGR of 13.98% during the forecast period.
The reports also cover country-level analysis:
o Rest of Americas
o Rest of Europe
o Asia Pacific
o Rest of Asia Pacific
o Middle East & Africa
o Middle East
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