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Vertical Axis Wind Turbine Market Analysis- Industry Size, Share, Research Report, Insights, Covid-19 Impact, Statistics, Trends, Growth and Forecast 2022-2030

Published Date: December, 2022
No of Pages: 164
Delivery Format: PDF+ Excel

$2,950.00

Vertical Axis Wind Turbine Market
1. Introduction
Vertical axis wind turbines (VAWTs) are a type of wind turbine where the main rotor shaft is set vertically. The main advantages of this arrangement are that the turbine does not need to be pointed into the wind to be effective, which is an advantage on sites where the wind direction is highly variable. VAWTs are also quieter and more aesthetically pleasing than traditional horizontal-axis wind turbines.

The global vertical axis wind turbine market was valued at $1.1 billion in 2018, and is projected to reach $3.8 billion by 2026, growing at a CAGR of 17.2% from 2019 to 2026. The increase in demand for renewable energy sources, government initiatives to promote the use of renewable energy, and the need for efficient and cost-effective power generation are the major factors driving the growth of the vertical axis wind turbine market.

The residential segment is expected to grow at the highest CAGR during the forecast period. The increase in demand for power generation from renewable energy sources, government incentives for the use of renewable energy, and the need for efficient and cost-effective power generation are the major factors driving the growth of the vertical axis wind turbine market in the residential segment.

The Asia-Pacific region is expected to grow at the highest CAGR during the forecast period. The increase in demand for power generation from renewable energy sources, government incentives for the use of renewable energy, and the need for efficient and cost-effective power generation are the major factors driving the growth of the vertical axis wind turbine market in the Asia-Pacific region.

The key players in the vertical axis wind turbine market are The Vestas Group (Denmark), Siemens Gamesa Renewable Energy, S.A. (Spain), Suzlon Energy Limited (India), Nordex SE (Germany), GE Renewable Energy (US), Enercon GmbH (Germany), Goldwind Science & Technology Co., Ltd. (China), United Wind Inc. (US), and Evance Wind Turbines Ltd. (UK).

2. Market Size and Forecast
The market size and forecast for vertical axis wind turbine (VAWT) is highly dependent on the growth of the renewable energy sector. As per a report by MarketsandMarkets, the VAWT market is expected to grow from USD 688.9 Million in 2016 to USD 1,471.7 Million by 2021, at a CAGR of 16.6% from 2016 to 2021. The increase in demand for VAWTs can be attributed to the need for clean and renewable energy sources, especially in developing countries.

The report further segments the VAWT market on the basis of type, application, and geography. On the basis of type, the market is classified into three segments, namely, Darrieus, Savonius, and others. Among these, the Darrieus type VAWTs are expected to grow at the highest CAGR during the forecast period, owing to their efficient power generation capacity.

On the basis of application, the VAWT market is categorized into four segments, namely, residential, commercial, industrial, and utility. The utility application segment is projected to grow at the highest CAGR during the forecast period, as VAWTs can be used on a large scale to generate power for utilities.

The VAWT market has been classified on the basis of geography into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Among these, Asia-Pacific is expected to be the largest market for VAWTs, owing to the growing demand for renewable energy in the region.

Some of the key players in the VAWT market are Vestas Wind Systems A/S (Denmark), Enercon GmbH (Germany), Siemens AG (Germany), Nordex SE (Germany), GE Renewable Energy (U.S.), and Gamesa Corporación Tecnológica, S.A. (Spain).

4. Market Challenges
The market for vertical axis wind turbines (VAWT) has been growing in recent years as more and more people look for ways to generate their own renewable energy. However, there are still some challenges that need to be addressed in order for the market to continue to grow. Here are four of the biggest challenges facing the VAWT market:

1. Cost

Vertical axis wind turbines are still generally more expensive than their horizontal counterparts. This is due to a number of factors, including the fact that VAWTs are often less efficient and have shorter lifespans. As the technology continues to improve, however, the cost is expected to come down.

2. Efficiency

VAWTs are often less efficient than horizontal turbines, meaning that they can generate less power per square meter of wind. This is due to the way that the blades are arranged on a VAWT, which can cause turbulence and drag. However, there are some new designs that are beginning to address this issue.

3. Lifespan

Another issue with VAWTs is that they often have shorter lifespans than horizontal turbines. This is due to the fact that VAWTs are often made with cheaper materials and are subject to more wear and tear. However, there are some new designs that are beginning to address this issue.

4. Acceptance

One of the biggest challenges facing the VAWT market is acceptance. There is still a lot of skepticism surrounding VAWTs, and many people are not sure if they are a viable alternative to horizontal turbines. This is due to the fact that VAWTs are still relatively new and there is not a lot of data on their long-term performance. However, as more and more people begin to install VAWTs, this skepticism is expected to dissipate.

5. Market Opportunities
The market for vertical axis wind turbines (VAWT) is growing rapidly as more and more businesses and homeowners look for ways to reduce their energy costs and become more environmentally friendly. There are many different types of VAWT available on the market, and each has its own advantages and disadvantages. Here are five of the most promising market opportunities for VAWT:

1. Commercial and industrial applications: VAWTs are particularly well-suited for use in commercial and industrial applications where space is limited. They can be installed on rooftops, on the sides of buildings, or in other small spaces.

2. Residential applications: More and more homeowners are interested in installing VAWTs to generate their own electricity. VAWTs can be used in conjunction with solar panels to provide a renewable energy solution for the home.

3. Off-grid applications: VAWTs can be used in remote locations where there is no access to the power grid. They are a perfect solution for powering remote homes, cabins, and other off-grid applications.

4. Portable applications: There are a number of portable VAWTs on the market that are perfect for camping, boating, and other outdoor activities. These units can be easily transported and set up, making them a convenient option for those who want to be able to generate their own power wherever they go.

5. Educational applications: VAWTs are an excellent way to teach children about renewable energy and how it can be used to power our homes and businesses. Many schools and museums have installed VAWTs as part of their educational exhibits.

6. Key Players
The wind turbine market is growing rapidly as the demand for renewable energy increases. There are many different types of wind turbines, but the most common are horizontal axis and vertical axis turbines. The six key players in the vertical axis wind turbine market are Vestas, GE, Siemens, Gamesa, Goldwind, and Enercon.

Vestas is the world’s largest manufacturer of wind turbines. The company has over 30 years of experience in the wind energy industry and has installed over 50,000 turbines in more than 70 countries. Vestas has a strong presence in the European market and is also expanding into the United States and China.

GE is a leading supplier of wind turbines. The company has over 20 years of experience in the wind energy industry and has installed more than 7,000 turbines worldwide. GE has a strong presence in the United States, Europe, and Asia.

Siemens is a leading supplier of wind turbines. The company has over 30 years of experience in the wind energy industry and has installed more than 15,000 turbines worldwide. Siemens has a strong presence in Europe and is also expanding into the United States and China.

Gamesa is a leading supplier of wind turbines. The company has over 20 years of experience in the wind energy industry and has installed more than 25,000 turbines worldwide. Gamesa has a strong presence in Europe and is also expanding into the United States and China.

Goldwind is a leading supplier of wind turbines. The company has over 10 years of experience in the wind energy industry and has installed more than 8,000 turbines worldwide. Goldwind has a strong presence in China and is also expanding into the United States and Europe.

Enercon is a leading supplier of wind turbines. The company has over 30 years of experience in the wind energy industry and has installed more than 25,000 turbines worldwide. Enercon has a strong presence in Europe and is also expanding into the United States and China.

7. Conclusion
The Vertical Axis Wind Turbine (VAWT) Market is growing at a rapid pace owing to the increasing focus on renewable energy sources. The VAWT market is expected to grow significantly in the coming years owing to the increasing government initiatives to promote renewable energy sources. The VAWT market is segmented on the basis of type, application, and geography.

The market for VAWT is expected to grow significantly in the coming years owing to the increasing focus on renewable energy sources. The VAWT market is expected to grow at a CAGR of XX% during the forecast period from 2018 to 2023. The market is expected to reach USD XX million by 2023.

The market is segmented on the basis of type, application, and geography. The market for VAWT by type is segmented into horizontal axis and vertical axis. The market for VAWT by application is segmented into residential, commercial, and industrial. The market for VAWT by geography is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

The key players in the VAWT market include General Electric, Vestas Wind Systems, Siemens, Enercon, Gamesa, Nordex, Senvion, Acciona, Suzlon, and China Ming Yang Wind Power.

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global VAWT market based on type and application. It also provides market size and forecast till 2023 for overall VAWT market with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America, which is further segmented into respective countries.

The report analyzes factors affecting VAWT market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological

Key Players Covered:

Key players operating in the global vertical axis wind turbine market are Helix Wind, UGE, Bergey Windpower Co. Inc., Wind Harvest International, Astralux Ltd, Kliux Energies, Ropatec, ArborWind, Windspire Energy, Aeolos Wind Energy Ltd, Eastern Wind Power, Inc., Northern Power Systems, Shanghai GHREPOWER Green Energy Co., Ltd., and XZERES Wind Corp.

Segmentation

 

 ATTRIBUTE

 

 DETAILS
 

By Type

 

 

    • Darrieus
    • Savonius
 

By Application

 

 

    • Residential
    • Commercial & Industrial
    • Fishery & Recreational Boats
    • Hybrid Boats
    • Others
 

By Geography

 

 

    • North America (The USA and Canada)
    • Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)
    • Asia Pacific (China, India, Australia, Southeast Asia and Rest of Asia Pacific)
    • Latin America (Brazil, Mexico and Rest of Latin America)
    • Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa
 

By Type

 

 

    • Darrieus
    • Savonius
 

By Application

 

 

    • Residential
    • Commercial & Industrial
    • Fishery & Recreational Boats
    • Hybrid Boats
    • Others

Helix Wind, UGE, Bergey Windpower Co. Inc., Wind Harvest International, Astralux Ltd, Kliux Energies, Ropatec, ArborWind, Windspire Energy, Aeolos Wind Energy Ltd, Eastern Wind Power, Inc., Northern Power Systems, Shanghai GHREPOWER Green Energy Co., Ltd., and XZERES Wind Corp.

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