Vertical Axis Wind Turbine Market Size, Share, Growth, and Industry Analysis, By Type (Darrieus & Savonius), By Application (Urban, Rural & Sea), and Regional Forecast to 2032

VERTICAL AXIS WIND TURBINEMARKET OVERVIEW

The global Vertical Axis Wind Turbine market size expanded rapidly  XX in 2023 andis projected to grow substantially XX  by 2032, exhibiting a prodigious CAGR XX during the forecast period.

The market of the Vertical Axis Wind Turbine (VAWT) is considered the fastest-growing sector of renewable power sources due to the lack of centralized power supply systems. They differ from other conventional horizontal axis turbines in that their blades turn in the vertical plane, perfect especially for use in urban areas and areas with lower wind speed. Technological progress, governmental support, and changing penchant toward a low-carbon economy all work to the advantage of the market. 

GLOBAL CRISES IMPACTING VERTICAL AXIS WIND TURBINE MARKETCOVID-19 IMPACT

Vertical Axis Wind Turbine Industry Had a Negative Effect Due to Market Uncertainty during COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

The COVID-19 pandemic significantly impacted the Venture Capital (VC) and Private Equity (PE) firms market, leading to a decline in investments as economic uncertainty and market volatility increased. Many firms adopted a cautious approach, delaying or halting new deals due to the unpredictable business environment and risk aversion. Startups, especially in industries like travel, hospitality, and retail, faced severe disruptions, causing valuations to drop and making it harder to secure funding. This negative impact on market activity was compounded by the overall slowdown in global economic growth and investor confidence.

LATEST TREND

"Market growth is driven by integrating VAWTs with solar panels for efficiency"

One emerging trend that exists in the market is the incorporation of VAWT with solar panels with the primary aim of increasing efficiency. This approach is an inconvenience for wind energy generation since its flow is not consistent; the presence of both sources eliminates the problem. Furthermore, research in lightweight materials and VAWT modular structures is fast pushing VAWTs as more usable in urban settings and off-grid facilities. 

VERTICAL AXIS WIND TURBINE MARKET SEGMENTATION

BY TYPE

Based on Type, the global market can be categorized into Darrieus & Savonius

• Darrieus : Darrieus-type vertical-axis wind turbines have a curved blade structure and are also called ‘eggbeater’ blades for their resemblance to eggbeaters in high winds. These turbines are characterized by relatively high rotation rates and energy efficiency while depending on external power to begin operation. Its use has been reported widely in utility-scale projects in wind because of their higher efficiency in steady wind regimes. 
• Savonius : Savonius turbines have a rather less complex design of scoop-shaped, semicylindrical blades that harness wind power through the familiar drag effect and are perfect for low wind velocity or turbulence. It is light and cheap and can be installed or repaired easily as compared to other types of roofs, and thus, it is usually used in low commercial buildings and houses. Although not as efficient as Darrieus models, they are more reliable and cost-wise suitable for local energy generation.

BY APPLICATION

Based on application, the global market can be categorized into Urban, Rural & Sea

• Urban :VAWTs are used in urban areas for distributed power generation because of their small form, operating efficiently at low and turbulent wind conditions. Some business locations are placed on rooftops or in open areas, making them play significant roles in urban sustainability with regards to energy efficiency. They do not emit any noise and are almost invisible in a city, which makes them suitable for urban environments. 
• Rural: In rural environments, VAWTs perform thus off-grid applications whereby electric energy is not accessible at all times or not as frequently as is necessary. Due to their uncomplicated structure and low maintenance needs, they can be ideal for rural areas and farming purposes. It is used in efforts to bring electricity to rural areas for facilitating irrigation, lighting, and operating small industries. 
•  Sea : Offshore installations of VAWTs are becoming more imminent as the wind speed is consistent and relatively powerful at sea. They are ideal for floating platforms and nearshore installations due to their ability to operate in all wind directions and their resistance to severe marine conditions. Such turbines are important for the development of offshore wind energy projects that are slated to decrease the use of fossil fuels.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.     

DRIVING FACTORS

"Market growth is driven by carbon reduction and policies"

Little by little, the focus on carbon reduction and switching to renewable energy sources creates demand for vertical-axis wind turbines (VAWTs). They are also flexible to work in other conditions, such as urban settings or in low-wind areas; this makes them a perfect solution. Furthermore, the government policies, subsidies, and favorable climate targets act as a backdrop that intensifies the market.

"Market growth is fueled by improved efficiency and technology"

Newly developing technologies, better materials for making lighter VAWTs, improved blade efficiency, and the integration of wind-solar hybrid systems are all enhancing market prospects. These enhancements have further enhanced the functionality of VAWTs and therefore are more reliable, cheaper and appropriate for various uses. Enhanced efficiency and stability for responding to gusts increase recruitment of resources to residential and commercial uses and resulting Vertical Axis Wind Turbine (VAWT) market growth.

RESTRAINING FACTOR

"Market growth is hindered by high costs and infrastructure challenges"

The purchase cost, installation cost, complex parts, and the requirement of proper infrastructure create a major challenge for vertical axis wind turbines (VAWTs). This makes the use of lithium batteries expensive, while only small-scale users and underdeveloped areas that cannot afford the high costs of lithium batteries can consider their use. Also, the payback period is very long compared to the normal energy sources, hence discouraging investment.

OPPORTUNITY

"Market growth is driven by offshore wind energy investment"

The type of vertical axis wind turbine (VAWT) has a potential growth in offshore wind power plants because the wind in such regions is steady and powerful. Hence, because VAWTs can function at all wind directions and are packaged small, relatively, and light, they are perfect for the circular, marine structures. This opportunity grows from rising investment in offshore renewable energy and development of new technologies in marine turbine systems. This is in concordance with current efforts in various states across the globe to explore the wind energy resource and shift from using fossil fuels.

CHALLENGE

"Market growth depends on overcoming efficiency and reliability challenges"

An outstanding issue affecting the vertical axis wind turbine (VAWT) market is reduced efficiency when it is compared with the HAWTs in high wind velocities. Some of the problems that bound VAWTs are the rise in efficiency of energy conversion, along with new concerns for initiating problems, which inhibit their potential for mass production. Furthermore, some challenges, such as higher mechanical stress and reduced durability, can negatively influence their reliability. These attributes and behaviors present some major challenges that can only be overcome through new ideas and higher investment in research and development.

VERTICAL AXIS WIND TURBINE MARKET REGIONAL INSIGHTS

• NORTH AMERICA

Market growth in North America is driven by investment

North America has a substantially high market share for VAWT owing to its well-developed renewable power generation system, favorable policies and infrastructure, and high flow of investment in sustainable technologies. Thus, the United State vertical axis wind turbine market has a central role to play, fueled by its political encouragement, burgeoning demand for urban renewables, and solid research and development. The United States tops the list of countries to adopt VAWTs for decentralized energy with special focus in urban and residential sections. This regional dominance is further supported by increasing concern with attaining the net-zero carbon targets.

• EUROPE

Market growth in Europe is driven by renewable energy investments

Europe has remarkable Vertical Axis Wind Turbine (VAWT) market share due to the promising focus of European countries on the utilization of renewable energy and strict legal requirements regarding carbon emissions. Germany, the UK, and other countries are progressing VAWT installations for fixed and floating structures. The market movers are the regional focus on urban sustainable development and the incorporation of part wind in smart cities. Further, a huge amount of money invested in the renewable green energy sector and enhancing the technologies in the wind turbines strengthens the European market.

• ASIA

Market growth in Asia is driven by urbanization and incentives

The Asia market has growth prospects in terms of a contribution to the Vertical Axis Wind Turbine (VAWT) market, and it primarily influences the market through the growth trends such as an increase in urbanization, energy consumption, and the increasing concern for finding renewable energy sources. Such nations as China, India, and Japan are adopting VAWT technology for both the pride and rear applications in a bid to avert fossil fuels. This is backed up by the ever-improving government incentives and the increased percentage of market participants who are becoming environmentally conscious. Further, Asia’s development in manufacturing proficiency and affordability of cost-effective production increases the global supply of VAWTs.

KEY INDUSTRY PLAYERS

"Market growth is driven by innovation, partnerships, and efficiency"

Market leaders in the vertical axis wind turbine industry are ensuring market development and sustainability through innovation of new designs, materials, and efficiency. Through such developments, they improve the operational efficiency of the turbines and bring down the overall expenses and therefore make VAWTs possible in the urban, rural, and offshore sites. Pacts of the strategic alliances with the government agencies and the enhanced production capacities also propel the demand of VAWT technology for wind energy and contribute to the growth of the market.

LIST OF TOP VERTICAL AXIS WIND TURBINE COMPANIES

• Helix Wind (US)
• Wind Harvest (US)
• Astralux (US)
• Kliux Energies (US)
• Sycamore Energy (US)

KEY INDUSTRY DEVELOPMENTS

September 2022: Swedish company SeaTwirl announced a partnership with Norwegian yards group Westcon to deploy a 1-megawatt floating vertical-axis wind turbine in the North Sea. This collaboration aims to demonstrate the feasibility and efficiency of SeaTwirl's innovative VAWT design in offshore wind energy applications. 

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

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