Market Management

Market Analysis Report: Wind turbines to generate electricity for home

Wind powered turbines to generate electricity for home use

Kaushal Ram Kola

MKTG-530-01AFL

Feb 1, 2021

Market Analysis Report: Name of Market

Executive Summary

(Note: this appears first but is written last in workshop 6; 300 words)

Positioning and Differentiation

Electricity production is our number 1 source for the greenhouse emissions on the environment. It’s more than all our driving and flying combined. Using clean, sustainable energy is quite possibly the main moves one can make to decrease your effects on the climate. Each time you flip on a light switch, utilize your PC, wash up, or turn on your radiator, you're utilizing energy. The normal U.S. home uses around 11,000 kWh per year,1 and a huge part of that energy is squandered. By using wind energy, we can produce enough power without sacrificing comfort and you can save money while helping the planet.

For eco-friendly people, JGJ Wind Turbine is a literally a breezy way of generating electricity from wind which is completely clean, cuts their energy bills and helps to protect environment in a stylish way by converting wind kinetic energy to usable electricity.

Analysis of current market

Home wind turbines includes a wide scope of wind turbines going from micro turbines, to residential turbines and mini turbines. The wind turbines utilized in these end use applications have power appraisals going from a couple of watts to thousand watts. Some the home wind turbines in the current market are up to 15 meters in diameter. Even though vertical axis wind turbines had a rapid growth in the global home wind turbine market, most of the small wind turbines are conventional horizontal axis wind turbines.

Current annual sales volume in dollars and/or sold in the market

Home wind manufacturers published sales of 41.7 MW in capacity. A whole of 27.7 MW of home wind turbines were sold in China, while 14 MW were exported though out the world. In 2020, the global Home Wind Turbines market size was USD 161.9 million. Three U.S.-based home wind manufacturers exported turbines amounting just under 1 MW in capacity with an estimated value of $4.6 million

Current competitors and their offerings, including points of differentiation for each offering indicating how they are positioned to each other in the market

Let’s to look at the best options that are found for home wind turbine kits that one can install and maintain mostly on your own.

1. Missouri Freedom II Wind Turbine: Missouri Wind is brand-recognized in the energy industry for copper it uses in its units.

· Rated Power: 2000W

· Voltage: DC12-48V

· Cut-in Wind Speed: 6 m/h

· Maximum wind speed: 125m/s

· Battery capacity: 550AH-800AH

· Net weight: 59 pounds

In view of the experience of purchasers, the Missouri General Freedom II doesn't deliver much power as promoted. One such purchaser expressed that they didn't collect a lot of energy, when a big storm blew through their area.

2. Eco-Worthy 24 Volts Wind kit: It is the best combo kit that one can find from a highly reputable manufacturer with a track record for great products that last.

· Rated Power: 400W

· Voltage: DC12-24V

· Cut-in Wind Speed: 2.5m/s

· Maximum wind speed: 35m/s

· Battery capacity:200AH-400AH

· Net weight:17.64 pounds

In the view of the customers they had trouble setting up the equipment due to less information about assembling the equipment.

3. Automaxx Windmill: It’s budget friendly kit for a small home which also means its durability is less for extreme weathers.

· Rated Power: 400W

· Voltage: 12V

· Cut-in wind speed: 2.9 m/s

· Maximum wind speed: 30m/s

· Battery capacity: 150AH-300AH

· Net weight: 16.8 pounds

The customers have repeatedly complained about the draining battery life and not able to store enough power as it was published.

Current price points of competitors

1. Missouri Freedom II Wind Turbine is priced around 900 – 950$ depending on the battery size for 2000 watts 11 blades.

2. Eco-Worthy 24 Volts Wind kit is priced around 700 – 1330$ depending on the battery, with or with inverter included in the kit.

3. Automaxx Windmill is priced around 300-350$ and if you add the invertor the cost is going to increase

Projections for the Market

Projected overall market growth rate for the next five years

Home wind powered turbines market was valued at 3,805 million dollars in 2020 and is estimated to increase to 8,874 million dollars by the end of 2025, enlisting a CAGR of 13.2% during the forecast period.

Projected changes to overall pricing in the market for the next five years

The demand for the small wind turbines is rapidly increasing on a global basis. Currently China, Europe and US are leading customers for the small wind turbines. Currently the average price for a small wind turbine is laced around 600$ but it is estimated to increase to 1000-1500$ in the next five years.

Recommended Position for JGJ Inc.

Recommended position and points of differentiation for the JGJ Inc. offering

With the current ground breaking advancement in the technology that the R&D has made through years of research, JGJ are incredibly proud to bring a versatile wind turbine that is very compact and is very low in weight so that it can be setup in a residential area. It very durable and strong to withstand harsh weather conditions such as storms, harsh UV rays and even up to level 3 category storms. The fiber glass blades, the tail cut precision to the finest mm and 360-degree rotation which makes the most converting wind to electric energy and which generates up to 1200W of power.

Complete buyer profile of the target customer

Numerous areas are appropriate climatically to provide the wind flows necessary to make small wind turbines an alluring option in contrast to petroleum derivatives and atomic energy. The Northeast, Midwest, Northwest, Mountain, and Southwest have encountered the best development and focusing on those territories ought to demonstrate generally valuable. Notwithstanding, numerous territories of the South and Mid-Atlantic areas presently can't seem to grasp wind-power innovation and your organization should maintain a strategic distance from those business sectors until conditions improve.

The essential clients of small wind turbines are homes, schools, ranches, and districts. As per the U.S. Division of Energy, the main purposes behind introducing the windmills were to bring down utility expenses and give a cradle against value floods for oil, flammable gas and coal. A home wind turbine ought to have the option to supply all the electrical power that a small energy user needs annually. The normal home uses 940 kilowatts for every month in power and the normal U.S. month to month electrical bill was approx. $110.14 as of March 2013. A mortgage holder can hope to save more than $20,000 more than 20 years - the normal breeze turbine life length - by changing to wind power and an extra $1,321.68 consistently

Reference:

Find the Best Home wind turbine by Aaron.

Best Home wind Turbines by Mariah Grimwood 2019

Small Wind Turbine Market - Growth, Trends, and Forecasts (2020-2025)

Gustavson, M. (1979) “Limits to Wind Power Utilization.” Science, 204(4388): 13-17.

U.S. Department of Energy (DOE), National Renewable Energy Lab (NREL) (2017) U.S. Wind Resource Map.

American Wind Energy Association (AWEA). 2019a. U.S. Wind Industry Annual Market Report: Year Ending 2018. Washington, D.C.: American Wind Energy Association. http://www.awea.org/market-reports

Andersen, P.B.; Mac Gaunaa, C.B.; Buhl, T. (2006). “Load Alleviation on Wind Turbine Blades Using Variable Airfoil Geometry.” In proceedings of the 2006 European Wind Energy Conference and Exhibition, Athens, Greece, February 27–March 2, 2006.

ASSIEME (Associazone Italiana Energie Mini Eolica). 2018. “Preview of 2017 Small Wind Report.” Provided by Alessandro Giubilo, President of ASSIEME, via email to author on January 23, 2018.

Product Development and Market Demand

Competition

The home wind turbine market is required to register a CAGR of around 1% during the estimate time of 2020-2025. Elements, for example, rising natural concerns and significant expense of lattice extension, are required to be significant drivers driving the market. Likewise, headway in innovation prompting wind turbine fabricating cost decrease and expansion in effectiveness have been a main consideration for the development of little wind turbine market. Be that as it may, the expanding appropriation of substitute fuel sources, for example, crude oil and solar energy, are probably going to ruin the market development. If I’m reading this right, this last sentence is a concerning point. I suggest you explain to JGJ what it means for them.

· Vertical pivot wind turbine is the quickest developing kind of the little wind market, attributable to the rising prominence of the equivalent in the private area, particularly in developing business sectors, for example, China, Brazil, and India.

· The developing business sectors in Africa and South America offer a strong business opportunity for the little wind power business, as nations, including Brazil, South Africa, and Chile, are on the cusp of advancement, and there is an expanded interest for power, which is relied upon to give market freedoms to little twist turbine in the coming years. Good info for JGJ to know

· Asia-Pacific is required to overwhelm the market's development with lion's share of the interest coming from nations, for example, the China and India. Asia-Pacific represented more than 36% of worldwide breeze energy age, adding up to 460.5 terawatt-hours in 2018. The public authority of China has been empowering the arrangement of little wind power (SWP) innovations, since the mid-1980s, and it is one of only a handful few arising economies to effectively create in this area.

Characteristics and features:

The home wind turbine for JGJ market report includes:

Axis Type
		Horizontal Axis Wind Turbine
		Vertical Axis Wind Turbine

Application
		On-grid
		Off-grid

Geography
		North America
		Europe
		Asia-Pacific
		South America
		Middle East & Africa

Vertical Axis Wind Turbine

Home Wind turbines offer the advantages of current power administrations to families that had no admittance to power, decreasing power costs on islands and in other distant areas that are reliant on oil-terminated age, just as empowering occupants and private companies to produce their own power.

Vertical axis wind turbines have the primary rotor shaft orchestrated vertically. This gives higher underlying steadiness to the breeze turbines, which are by and large positioned close by the thickly populated territory and lessen the danger of mishaps.

Additionally, the vertical axis wind turbines take out the necessity of directional situating framework, when contrasted with the even situating framework.

With the mechanical upgradations and the breeze turbine fabricating costs declining fundamentally, lately, the appropriation of vertical breeze turbine has been expanding extensively.

A home wind turbine, regardless of its class, will consist of the following:

· 2 or 3 blades

· Nacelle with 1 or 2 generators

· Tower

· Control electronics

· Wall mounted stand

The bigger the blades, the better it is. They are characterized either by cutting edge length (typically not more than 10 m), rotor breadth (up to 22-23 m) or cleared territory (infrequently over 300 m2). Cutting edges ought to be thought about between generators of a similar force (a 10-kW generator with a 5 m sharp edge will create more energy than a 10-kW generator with a 3.5 m edge). Notwithstanding, bigger edges imply that the turbine is more costly.

Nacelle is the "head" of a little wind turbine and houses the generator. The size of the generator relies upon its force rating in kW, which infrequently surpasses 100 kW. A little family will typically have a 10-20 kW generator, while a 50-kW generator permits to offer over the top energy to the framework.

The pinnacle is made of steel and can be either a cylindrical or cross section towers. Cross section towers and cylindrical pinnacles beginning from 30 kW will require a huge crane for establishment; if a pinnacle has a water powered slant up, just a little crane or a tractor is required, and support is simpler. Pinnacles are typically from 18 to 36 m high (higher is better).

I found this very interesting. Good job. I suggest that you specifically state if this is the direction you want JGJ to go. Be specific – describe the actual product JGJ should introduce and any type of branding that would be necessary. What size will the unit be? What customers will it target? Should it USA, Africa, S.America, or other countries?

Imagine that you are JGJ’s CEO. What product would you enter the market with to compete with the competitors? What would be the differentiating features? What would be the brand name? You can’t introduce in all countries, so where would start?

Targeted customers

Major factors crediting to the development incorporate the ideal government arrangements, the expanding interest in wind power projects and the diminished expense of wind energy which has prompted an expanded appropriation of wind energy, in this way, emphatically adding to the interest for wind energy. The expanding appropriation of substitute fuel sources, for example, crude oil and solar energy, are probably going to obstruct the market development. If I’m reading this right, this last sentence is a concerning point. I suggest you explain to JGJ what it means for them.

Onshore wind power arose as perhaps the most esteemed environmentally friendly power sources, around the world. The combined inland introduced wind power limit is assessed to observe an expansion of 8.33% in 2018 when contrasted with the earlier year's ability. Nonetheless, the seaward area has been acquiring force in the worldwide breeze power and is relied upon to observe the quickest development soon.

The developing business sectors in Africa and South America offer a strong business opportunity for the breeze power business as nations, including Brazil, South Africa, Chile, and so on, will be on the cusp of advancement, and there is an expanded interest for power, which is relied upon to give market freedoms to wind power improvement in the coming years. Additionally, the huge breeze power potential, combined with a decrease in the expense of the equivalent, is probably going to give broad business freedoms to the market in not so distant future.

North America is perhaps the most experienced and serious areas in the breeze power market, with solid development in the United States.

Offshore Sector set to be the Fastest Growing Segment

In 2018, the introduced limit from the seaward area addressed a 26% increment in total introduced limit when contrasted with the earlier year. Europe represented over 80% of the worldwide cumulative offshore wind, before the finish of 2018.

The offshore wind turbine market is overwhelmed by the United Kingdom, Germany, and China. The United Kingdom addressed practically 50% of Europe's gross limit in 2018 and the seaward wind industry in the nation is set to twofold, after the country's Department for Business, Energy, and Industrial Strategy (BEIS) reported long haul political help for the nation's offshore wind energy industry.

In spite of the fact that the focal point of center has been the intense achievement in the seaward area in Europe before, China's seaward industry is at last acquiring energy. In 2017, the nation had introduced 1,162 MW of new wind power limit, which were spread across 18 seaward wind homesteads, and nine of them (968 MW) were in Jiangsu Province, which keeps on being the significant focal point of seaward wind advancement.

India is additionally zeroing in on seaward turns of events. In April 2018, India called for articulation of interest (EoI) for the main seaward wind energy project in the country that is being set up in the Gulf of Khambat, off the shore of Gujarat state.

North America - One of the Competitive Markets

North America is the most developed and serious district in the breeze power market. In 2018, the Americas area added 11.9 GW of wind power limit, driven by the United States, Brazil and Mexico.

In 2018, the United States saw 7,411 MW increment in its introduced wind energy limit, enrolling 8.32% expansion over combined limit in 2017. The development is ascribed to the new and last expansion of the Production Tax Credit (PTC) in the United States. Plus, the approach responsibilities in California and the business trust in abusing lower esteem levels of the creation tax break legitimizes an unobtrusive update in the United States inland area.

In 2018, Mexico introduced around 1 GW of new wind turbines limit, which is one of the most elevated limits increases ever constructed in the country. After the establishment, the introduced wind energy limit in Mexico was 4.9 GW. The scene for sustainable power sources improved fundamentally, following its 2014 energy changes, which are principally zeroing in on changing the power market. Further, the nation has an objective to create 35% of its force limit through renewables before 2024.

As per the Global Wind Energy Council (GWEC), the Americas area is relied upon to encounter a critical extension somewhere in the range of 2019 and 2023. Besides, as indicated by GWEC, the yearly wind power arrangements in the Americas district is relied upon to bring about the dispatching of 60 GW in the following five years.

Nations, for example, China are presently confronting the test that all the promising breeze ranch locales inside 6 miles of the shore have just been misused. To help the limit further and to meet their 2020 sustainable targets, the greater part of the nations are investigating offshore territories. Therefore, seaward wind power is relied upon to develop at a quicker speed in the coming years.

The above is all good info for JGJ to know. Remember, a marketing plan contains specific steps JGJ will need to take. As a consultant, you are to suggest, the actual product JGJ should introduce to the market and what target they should go after. The rest of the world can come later after JGJ has had a successful introduction.

References:

Dias do Rio Vaz D, Pinheiro VazJR, Amarante MesquitaAL, PinhoJT, and Pinho Brasil JuniorAC. 2013. Optimum aerodynamic design for wind turbine blade with a Rankine vortex wake.Renewable Energy, vol.55:296-304

Wang L, Tang X, and Liu X. 2012. Blade Design Optimization for Fixed-Pitch Fixed-Speed Wind Turbines. International Scholarly Research Network; ISRN Renewable Energy, Volume 2012, Article ID 682859, 8 pages, doi:10.5402/2012/682859

Schubel PJ and Crossley RJ. 2012. Wind Turbine Blade Design. Energies, vol.5: 3425-3449; doi: 10.3390/en5093425

Campobasso MS, MinisciEand CaboniM. 2014. Aerodynamic design optimization of wind turbine rotors under geometric uncertainty. Wind Energy. Published online in Wiley Online Library (wileyonlinelibrary.com). DOI: 10.1002/we.1820

The reference list is not in proper APA format. I suggest enlisting the help of IWU’s librarians. Also visit IWU’s Off Campus Library APA page as well as APA’s web site:

· https://ocls.indwes.edu/style_guide.html

· https://apastyle.apa.org/ - see the Style section

· https://owl.purdue.edu/owl/research_and_citation/apa_style/apa_formatting_and_style_guide/general_format.html

Stop worrying about reaching the exact word count. Focus on creating a marketing plan that JGJ can implement.

Rubric:

Elements 21

Chart 0 none included

Sources 5

Grammar/APA 4

Total 30