US Small Wind Power Market Size Likely to Expand at a CAGR of 8.8% By 2033

As per the current market research conducted by the CMI Team, the global US Small Wind Power Market size is expected to record a CAGR of 8.8% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 2,577.53 Million. By 2033, the valuation is anticipated to reach USD 5,152.49 Million.

US Small Wind Power Market: Growth Factors and Dynamics

• Government Incentives and Policies: Government incentives, such as tax credits, grants, and renewable energy mandates, play a crucial role in driving growth in the US small wind power market. These incentives reduce the financial barriers for consumers and businesses, making small wind power more economically viable. Additionally, supportive policies, such as net metering and renewable portfolio standards, create a favorable regulatory environment, encouraging investment in small wind projects. As governments continue to prioritize clean energy initiatives and decarbonization efforts, the demand for small wind power is expected to grow further, driving market expansion.

• Technological Advancements: Continuous advancements in small wind turbine technology are enhancing efficiency, reliability, and affordability, driving market growth. Innovations in blade design, materials, and control systems are improving energy capture and increasing turbine performance. Moreover, advancements in digitalization and data analytics enable better monitoring, predictive maintenance, and optimization of small wind systems, reducing operational costs and improving overall performance. As technology continues to evolve, small wind power becomes increasingly competitive with conventional energy sources, stimulating market expansion.

• Environmental Awareness and Sustainability Goals: Growing environmental concerns and the need to reduce greenhouse gas emissions are driving the adoption of small wind power as a clean and sustainable energy solution. Individuals, businesses, and communities are increasingly seeking alternatives to fossil fuels to mitigate climate change and reduce their carbon footprint. Small wind power offers a renewable energy option that can contribute to sustainability goals by providing clean electricity while minimizing environmental impacts. As environmental awareness continues to rise, the demand for small wind power is expected to increase, supporting market growth.

• Energy Independence and Resilience: Small wind power provides an opportunity for energy independence and resilience, particularly in remote or off-grid areas. By generating electricity locally, small wind turbines reduce reliance on centralized power grids and fossil fuel imports, enhancing energy security. Additionally, in regions prone to extreme weather events or grid outages, small wind power can serve as a reliable backup energy source, ensuring continuity of power supply. As concerns over energy security and resilience grow, the demand for small wind power solutions is expected to rise, driving market expansion.

• Rural Development and Economic Benefits: Small wind power projects contribute to rural development by creating jobs, stimulating local economies, and providing additional income streams for landowners. In rural areas with favorable wind resources, small wind turbines offer opportunities for agricultural businesses, ranches, and small communities to diversify their revenue sources and reduce energy costs. Moreover, the development of small wind projects often involves local contractors, suppliers, and service providers, further supporting economic growth. As small wind power projects continue to proliferate, they are expected to contribute positively to rural development, driving market growth.

• Community and Distributed Energy: Small wind power aligns with the growing trend towards community-based and distributed energy systems. Community wind projects, in which residents or cooperatives own and operate small wind turbines, empower communities to control their energy production and reap economic benefits. Additionally, distributed wind power systems, installed close to end-users, reduce transmission losses and enhance grid stability. As communities and utilities embrace distributed energy solutions, the demand for small wind power is expected to increase, supporting market growth.

• Cost Competitiveness and Energy Affordability: Improvements in technology, manufacturing processes, and economies of scale are driving down the cost of small wind power systems, making them more competitive with conventional energy sources. As installation and maintenance costs decline, small wind power becomes an increasingly attractive option for residential, commercial, and utility-scale applications. Moreover, as electricity prices continue to rise and the cost of renewable energy technologies falls, small wind power offers a cost-effective solution for meeting energy needs while ensuring long-term affordability. As cost competitiveness improves, the market for small wind power is expected to expand further.

• Global Market Expansion and Export Opportunities: The US small wind power market is part of a larger global market that is experiencing significant growth and expansion. As countries around the world adopt renewable energy targets and invest in clean energy infrastructure, the demand for small wind power is increasing globally. US-based manufacturers and suppliers of small wind turbines have opportunities to export their products and expertise to international markets, further driving growth and market expansion. Moreover, collaboration and partnerships with foreign companies and organizations can facilitate market penetration and diversification, enhancing the competitiveness of US small wind power industry players.

US Small Wind Power Market: Partnership and Acquisitions

• In October 2021, Ryse Energy and Bladon Micro Turbine forged a strategic partnership for the Off-Grid Telecoms Sector, aiming to revolutionize the sector’s power landscape with sustainable energy solutions. This collaboration promises to deliver reliable, clean, and cost-effective power, with up to 90% sourced from renewable energy. Through this alliance, the off-grid telecoms industry is set to undergo a transformative shift towards more environmentally friendly and economically viable power solutions.

Report Scope

US Small Wind Power Market: COVID-19 Analysis

The COVID-19 pandemic has had both short-term disruptions and long-term implications for the US small wind power market.

• Supply Chain Disruptions: The pandemic disrupted global supply chains, leading to delays in the manufacturing and delivery of small wind turbines and components, impacting project timelines.

• Project Delays and Cancellations: Lockdown measures and economic uncertainty led to delays and cancellations of small wind power projects, particularly in the commercial and utility sectors.

• Reduced Financing Availability: Economic uncertainty and tightened credit markets made it challenging for developers to secure financing for small wind projects, leading to project postponements.

• Shift Towards Remote Work: The pandemic accelerated the adoption of remote work, potentially increasing energy demand in residential areas where small wind power systems could play a role in meeting energy needs.

• Renewed Focus on Resilience: The pandemic highlighted the importance of resilient energy infrastructure. Small wind power, with its distributed nature, may see increased interest from utilities and businesses seeking to enhance resilience against future disruptions.

• Policy Support for Green Recovery: Governments may prioritize green recovery initiatives post-pandemic, offering incentives and support for renewable energy projects, including small wind power, to stimulate economic growth while addressing climate change.

Overall, while the pandemic posed short-term challenges for the US small wind power market, there are opportunities for long-term growth driven by shifts in energy demand, resilience considerations, and supportive policies.

List of the prominent players in the US Small Wind Power Market:

• Bergey Windpower Co.
• Northern Power Systems
• Primus Wind Power
• Xzeres Wind Corp.
• Pika Energy
• Endurance Wind Power
• Southwest Windpower
• Wind Turbine Industries Corp.
• Gaia-Wind Ltd.
• Aeolos Wind Energy Ltd.
• Eocycle Technologies Inc.
• Ventera Energy Corporation
• ElectroVent
• Urban Green Energy (UGE) International Ltd.
• Kestrel Renewable Energy (Eveready Diversified Products)
• Others

The US Small Wind Power Market is segmented as follows:

By Type

• Horizontal Axis Wind Turbine
• Vertical Axis Wind Turbine

By Installation Type

• On-Grid
• Off-Grid

By Application

• Residential
• Commercial
• Utility