Global Vertical Axis Wind Turbine Market by Designs, End-users, and Regions — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026.
The global vertical axis wind turbine market was valued at USD 12 billion in 2019 and is projected to reach over USD 16 billion by 2026, expanding at a CAGR of more than 4% during the forecast period, 2020–2026. The growth of the market is attributed to the rising application across various industries worldwide.
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Vertical axis wind turbines (VAWTs) are a sort of wind turbine where the fundamental rotor shaft is set vertically and the primary segments are situated at the base of the turbine. This plan permits the generator and gearbox to be found near the ground, encouraging assistance and fix. VAWTs don’t need to be pointed into the breeze, which evacuates the requirement for wind-detecting and direction instruments. Vertical axis wind turbines offer a few potential advantages over the standard horizontal axis wind turbines which are currently utilized around the world.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising focus towards renewable sources of energy is driving the growth of the market.
- Growing investments in research and development activities pertaining to renewable energy is a favourable factor driving the market growth.
- Rising competition from alternate sources of energy is acting as a restraint for the growth of the market.
- Increasing cost of implementation for these projects is a restraint in the market growth.
- The unexplored markets of emerging economies and the use of latest technologies are opportunities for the growth of the market.
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Competitive Landscape:
Some of the other key players operating in the market include Bergey Wind Power Co., Northern Power Systems Inc., Kingspan Group Plc., and Endurance Wind Power Inc. Other key players influencing the global market are Shanghai Ghrepower Green Energy Co. Ltd., Xzeres Wind Corp., and ZKEnergy Technology Co. Ltd. The major market players gain edge in the market by activities of mergers & acquisitions and investing in research & development to offer various product offerings.
The global vertical axis wind turbine market has been segmented on the basis of
Designs
- Savonius Model
- Darrieus Model
- Giromill Model
End-users
- Commercial
- Agriculture
- Residential
- Industrial
- Others
Regions
- Asia Pacific
- China
- India
- Japan
North America
- S.
- Canada
Latin America
- Brazil
- Mexico
Europe
- Germany
- K.
- France
Middle East & Africa
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Vertical Axis Wind Turbine Market Overview
- Global Vertical Axis Wind Turbine Market Analysis and Forecast by Type
- Global Vertical Axis Wind Turbine Market Analysis and Forecast by Application
- Global Vertical Axis Wind Turbine Market Analysis and Forecast by Sales Channel
- Global Vertical Axis Wind Turbine Market Analysis and Forecast by Region
- North Vertical Axis Wind Turbine Market Analysis and Forecast
- Latin Vertical Axis Wind Turbine Market Analysis and Forecast
- Europe Vertical Axis Wind Turbine Market Analysis and Forecast
- Asia Pacific Vertical Axis Wind Turbine Market Analysis and Forecast
- Middle East & Africa Vertical Axis Wind Turbine Market Analysis and Forecast
- Competition Landscape
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