PUBLISHER: The Business Research Company | PRODUCT CODE: 1619550
PUBLISHER: The Business Research Company | PRODUCT CODE: 1619550
Distributed wind involves generating electricity from wind turbines installed close to the point of use, such as homes, businesses, farms, or small communities, rather than connecting to a large, centralized grid. The main goal of distributed wind is to produce renewable energy on-site or nearby, reducing reliance on grid electricity, lowering energy costs, and cutting carbon emissions.
The distributed wind market features turbines categorized into small (under 100 kW), mid-size (100 kW - 500 kW), and large-scale (over 500 kW). Small distributed wind systems generate less than 100 kW of power and are typically used for individual homes, farms, and small businesses. These systems can be installed on-grid or off-grid and serve various applications across residential, agricultural, industrial, governmental, institutional, and commercial sectors.
The distributed wind market research report is one of a series of new reports from The Business Research Company that provides distributed wind market statistics, including the distributed wind industry global market size, regional shares, competitors with distributed wind market share, detailed distributed wind market segments, market trends, and opportunities, and any further data you may need to thrive in the distributed wind industry. These distributed wind market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The distributed wind market size has grown strongly in recent years. It will grow from $4.65 billion in 2023 to $4.93 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth during the historic period can be attributed to the increase in community and small-scale projects, improvements in grid reliability and resilience, heightened public awareness and acceptance, advancements in rural electrification, and growing environmental concerns.
The distributed wind market size is expected to see strong growth in the next few years. It will grow to $6.23 billion in 2028 at a compound annual growth rate (CAGR) of 6%. The growth during the forecast period can be attributed to the rising decentralization of energy systems, increasing corporate sustainability goals, greater investment in research and development, advancements in energy storage solutions, and enhanced government policies and incentives. Major trends expected in this period include technological advancements, improvements in capacity, the adoption of hybrid energy systems, and developments in vertical axis wind turbines.
The growing demand for renewable energy generation is expected to drive the expansion of the distributed wind market in the future. Renewable energy generation involves producing electricity from sources like solar panels or wind turbines, which enhances reliability, reduces transmission losses, and promotes energy independence. This shift is driven by concerns about the environment, energy security, and economic benefits, leading to more sustainable and resilient energy systems. Distributed wind energy benefits from renewable energy generation by enabling the use of small-scale wind turbines closer to energy consumption sites, thereby reducing transmission losses, improving grid stability, and fostering energy independence and sustainability. For example, the Energy Efficiency and Renewable Energy (EERE), a U.S.-based government administration, reported in August 2023 that the wind power sector added 29.5 megawatts (MW) of new capacity in 2022 with the installation of 1,745 turbines. By 2050, the sector is expected to see significant growth, with an anticipated increase of 112,286 MW in offshore wind capacity. Consequently, the rising demand for renewable energy generation is driving the growth of the distributed wind market.
Key players in the distributed wind market are forming strategic partnerships to enhance their technological capabilities, broaden market reach, and accelerate the adoption of distributed wind energy solutions. These partnerships combine resources and expertise, leading to the development of more efficient technologies and access to new markets, thereby facilitating wider adoption of distributed wind energy. For instance, in March 2024, the National Renewable Energy Laboratory (NREL), a U.S.-based research institute, collaborated with the Pacific Northwest National Laboratory (PNNL), another U.S.-based laboratory, to launch the National Distributed Wind Network. This initiative aims to promote the deployment of distributed wind energy across the U.S. by offering essential resources and support to various stakeholders, including farmers, municipalities, and businesses. The network will provide technical assistance to communities and organizations looking to implement distributed wind projects and help them navigate regulatory and financial challenges.
In July 2023, Ryse Energy, a UAE-based company specializing in renewable energy semiconductor manufacturing, acquired Primus Wind Power for an undisclosed sum. This acquisition enables Ryse Energy to integrate Primus Wind Power's AIR turbines into its product lineup, expanding its range of high-performance small wind turbines. It also paves the way for Ryse Energy to establish manufacturing operations in the U.S. Primus Wind Power, a U.S.-based company, focuses on manufacturing micro wind turbines.
Major companies operating in the distributed wind market are Siemens AG, General Electric Company, Acciona S.A., Vestas Wind Systems A/S, Goldwind Science & Technology Co. Ltd., Nordex SE, Enercon GmbH, Suzlon Energy Ltd., Boralex Inc., AeroVironment Inc., Envision Group, Sinovel Wind Group Co. Ltd., Emergya Wind Technologies B.V., Ming Yang Wind Power Group Limited, MTU Onsite Energy Corp., Clipper Windpower Plc, Guodian United Power Technology Co. Ltd, Northern Power Systems, Pika Energy Inc., Kestrel Renewable Energy, Bergey Windpower Co., Helix Wind Corp., Vortex Bladeless Ltd., Windstream Energy Technologies India Pvt. Ltd, Senvion S.A.
North America was the largest region in the distributed wind market in 2023. The regions covered in the distributed wind market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the distributed wind market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The distributed wind market consists of revenues earned by entities by providing services such as site wind resource assessment, system design and consultation, and installation and construction. The market value includes the value of related goods sold by the service provider or included within the service offering. The distributed wind market also includes sales of wind turbines, inverters, battery storage systems, control systems, tower structures, and grid connection equipment. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Distributed Wind Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on distributed wind market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for distributed wind ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The distributed wind market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.