Global Wind Energy Market Will Reach $73.5 Billion by 2015

According to a new market research report, ‘Global & China Wind Turbine Market (2010 – 2015)’, published by MarketsandMarkets, new wind turbines capacity of 236.6 GW would be installed between 2010 and 2015, representing a CAGR of 17% in global wind power installed capacity for the same period. In 2015, the market will generate $73.5 billion revenue from wind turbines sales.

Increasing price of non-renewable energy sources, growing energy consumption especially from emerging countries, pro-wind regulatory environment for wind projects and increase in utility scale wind energy generation farms have put the world at 159 GW installed capacity at the end of 2009. Investments in wind energy, new trends of technological improvements and increased focus towards offshore wind potential made the industry to grow at compound annual growth rate (CAGR) of 6% in per year installations and 17% in cumulative installed capacity between 2010 and 2015.

The fastest growing region would be Asia Pacific, with per year installations CAGR of 11.3% is expected to outpace Europe by 2013. At the end of 2015, Asia Pacific will be at 183 GW installed capacity followed by Europe at 144 GW and American (North & South) at 105 GW. The growth of Asia Pacific is lead by China, with CAGR of 15.4% in annual installations and 24.6% in cumulative installed capacity during 2010 to 2015. China’s turbine market growth is supported by the internal market drivers such as government support through various subsidies, increasing turbine demand from existing and proposed wind farms and inexpensive raw material availability.

China will also be the best place for turbine and component manufacturing with top 15 OEMs’ are expected to have presence in the country. However policies and regulations in China are mainly supporting the domestic players. About 70% of turbine components should be manufactured within china as per government rule. Chinese players utilized and have lion’s share of the domestic market with market share of more than 75% in 2009. However, recently Chinese government has relaxed the rule in order to support more competition from foreign players. So it is expected that many MNC’s would set up new manufacturing facilities in china. Hence domestic players will likely to face pressure on their margins and also have to compete with technically superior foreign players. The price per MW of wind turbine is also expected to come down from 2009 levels by 2015 due to increased supply.

The report ‘Global & China Wind Turbine Market’ is divided into two chapters. Chapter one will have extensive analysis of Global wind turbine market and Chapter two is about China wind turbine market. The objective of report is to highlight key market trends which can be strategically useful and actionable for the stakeholders i.e. turbine manufacturers, turbine component suppliers, raw material suppliers, wind farm developers, investors government agencies and industry associations.

The entire report is supported with lot of facts and figures about market size, market revenues, prices per MW, raw materials and cost structures. The total number of tables and figures are about 108 in the report. The report also forecasts the wind turbine market and possible scenario till 2015.