Knowledge Sourcing Intelligence announces the publication of a new analysis report on the market the “Vertical Axis Wind Turbine- which is forecasted from 2023 to 2028”.
The prime factor driving the Vertical Axis Wind Turbine Market growth is increasing environmental concerns and reduction in carbon emission.
The vertical axis wind turbine market was valued at US$14.913 billion in 2021.
The vertical axis wind turbine (VAWT) market is a fast-growing and innovative section of the renewable energy industry. Vertical axis wind turbines, as opposed to horizontal equivalents, have distinct benefits such as omnidirectional wind collection and simplicity of maintenance. As the globe shifts towards more sustainable energy sources, the VAWT market is set to expand, providing to both urban and rural applications. The growth of this industry indicates a trend towards more efficient and adaptable wind power options with little environmental effect.
The vertical axis wind turbine (VAWT) market is expanding rapidly due to many important factors. To begin, there is a growing worldwide emphasis on renewable energy sources as a method of combating climate change and reducing reliance on fossil fuels. VAWTs are a tempting alternative for clean power generation since they provide an innovative and sustainable approach for harnessing wind energy. VAWT design technological breakthroughs are critical to market development. Ongoing R&D efforts are resulting in more efficient and cost-effective VAWT models, which improve their overall performance and dependability. Growing energy consumption, particularly in metropolitan areas, has necessitated the development of distributed energy generating technologies. Because of its omnidirectional wind capture capabilities and small form, VAWTs are well-suited for urban situations, making them an appealing alternative for localised wind power generation. Concerns about the environment and the need to decrease carbon emissions are driving governments and corporations to invest in renewable energy infrastructure, expanding the VAWT market even further. Governments throughout the world are providing incentives, subsidies, and favourable regulations to encourage the use of VAWTs, which is driving market expansion. Furthermore, the lower production costs and increased efficiency of VAWTs make them more economically viable. As VAWTs may provide sustainable power solutions in distant places, emerging markets and off-grid applications are also creating new growth potential. Collaborative research and development endeavours, as well as greater public knowledge and acceptance of the wind power, are driving the vertical axis wind turbine market forward.
The vertical axis wind turbine (VAWT) market has been categorized based on model type, application, and geography. The market has been segmented based on model type into savonius model and darrieus model. Application is further classified into small wind projects, residential application, and pumping water.
By region, Europe is the dominant region in the vertical axis wind turbine (VAWT) market. Europe has positioned itself as a pioneer and forerunner in the use and innovation of renewable energy. Several reasons, including strong government backing, favourable renewable energy legislation, and a strong commitment to decreasing carbon emissions, contribute to Europe’s leadership in the VAWT industry. Furthermore, Europe’s diverse terrain, which includes coastal regions and islands with fluctuating wind conditions, makes VAWTs an appealing alternative for efficiently harvesting wind energy. The existence of multiple VAWT producers, as well as continuous research and development activities, cement Europe’s position as the market leader in this green energy industry.
As a part of the report, the key companies operating in the vertical axis wind turbine market that have been covered are IYSERT Energy, VWT Power Ltd., ArborWind, LuvSide GmbH, Leading Edge, Lux Wind Power, Vertogen Ltd.
View a sample of the report or purchase the complete study at https://www.knowledge-sourcing.com/report/vertical-axis-wind-turbine-market
This analytics report segments the vertical axis wind turbine (VAWT) market on the following basis
- By Model Type
- Savonius Model
- Darrieus Model
- By Application
- Small Wind Projects
- Residential Application
- Pumping Water
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America