Market Size of Europe Small Wind Turbine Industry
| Study Period | 2019 - 2028 |
| Base Year For Estimation | 2021 |
| Forecast Data Period | 2024 - 2028 |
| Historical Data Period | 2019 - 2020 |
| CAGR | > 1.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Small Wind Turbine Market Analysis
Europe's small wind energy market is projected to register a CAGR of over 1% during the forecast period.
The market was negatively impacted by COVID-19 in 2020. Presently, the market reached pre-pandemic levels.
- In the medium term, advancements in technology leading to wind turbine manufacturing cost reduction and increase in efficiency have been major factors for the growth of the small wind turbine market.
- On the other hand, the increasing adoption of alternative energy sources for small-scale renewable development, such as rooftop solar and small-scale bioenergy facilities, is expected to hinder the growth of the market during the forecast period.
- Nevertheless, the deployment of small wind turbines atop high-rise buildings has been investigated and implemented in limited capacities across many countries in Europe. This can redefine renewable energy generation and consumption in urban neighborhoods with a high carbon footprint, thus creating several opportunities for small wind turbines in the future.
- Germany is expected to dominate the market’s growth, the government's initiative schemes for small wind systems development is anticipated to drive the market's growth.
