From GlobeNewswire: 2024-04-05 08:45:00

The global vortex turbine market is set to grow from $102.6 million in 2023 to $242.5 million by 2031, with a CAGR of 13.1%. Vortex turbines harness vortexes to generate electricity, offering a cost-effective and eco-friendly solution for small-scale power generation. The market is driven by the increased demand for renewable energy sources and the focus on reducing carbon emissions.

Vortex turbines are gaining popularity as a sustainable energy solution, offering an efficient alternative to traditional wind turbines. The market is also seeing a trend towards decentralized energy generation systems, with vortex turbines being ideal for small-scale applications. The residential application segment is expected to dominate the market, with horizontal axis vortex turbines leading the design segment due to their efficiency and reliability.

Innovations in the vortex turbine market include a wind power production system from Vortex Bladeless that does not require conventional parts like blades, opening up new possibilities for green energy. With a projected CAGR of 13.1% from 2023-2030, the market is expected to see significant growth, with Asia Pacific leading the way. Key players like Turbo Tech Ltd and Siemens Gamesa Renewable Energy are driving innovation and development in the industry.



Read more at GlobeNewswire: Vortex Turbine Market to surpass $242.5 million by 2031