The report provides detailed analysis and forecasts of the wind tower industry installed capacities, market structure and regulatory policies.
The wind energy market has witnessed enormous growth in the past; the world’s cumulative installed capacity reached 160,014 Megawatts (MW) in 2009, from 24,052 MW in 2001, at a Compound Annual Growth Rate of 27%. The exponential growth of the wind energy market is fueled by the depleting reserves of fossil fuels, declining cost of wind power generation and a growing sensitivity for the environment.
From being an emerging fuel source twenty years ago, wind energy has transformed into a commercial generating technology in over 70 countries, with more effective and more reliable equipment and machinery. The global wind energy market is expanding at an accelerating pace, with wind energy installations growing by 32%% in 2009 from 2008. The global wind energy annual installation has increased at a CAGR of 27% from 24,052 MW in 2001 to 160,014 MW in 2009, of which 36,887 MW came online only in 2009. Wind power will soon become an important player in the global energy market, with the growing equipment market creating a large number of jobs.
Despite the Economic Crisis, Global Wind Turbine Market Registered 38 GW of Installed Capacity
The global wind turbine market reached 38,361 MW in 2009, was worth over
$51 billion and employed around 500,000 people across the globe. The wind turbine market has seen a new height in 2009 with an increase in installations of 38% from 2008. Globally, wind power technology is the fastest growing technology among the various renewable energies as well as one of the fastest growing energy sources in general. It has emerged from being an experimental fuel source to a commercial generating technology over the past twenty years. With the technological improvements, modern wind turbines have improved in terms of efficiency, reliability and power rating. Wind turbines are expected to become an important part of the global energy market and global economy as the growing wind turbine equipment market will create a huge number of jobs in coming years.
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Global Wind Tower Market, Annual Installation Historical and Forecast, Units, 2007-2015
The global wind tower installation is expected to reach 22,474 units by 2010 generating around 40,454 MW of wind energy. In 2010, the wind tower market in terms of number of units is expected to go down with the increasing wind turbine size and recession affecting investment and wind farm development.
It is expected that the global wind tower market will reach 22,399 units generating around 55 GW of electricity by 2015 from 22,474 units generating 40
GW of wind energy in 2010. The global cumulative installed capacity of wind tower will increase to 275,902 units in 2015 from 162,474 units in 2010, at a CAGR of over 11%.
China Emerged as the Largest, Wind Tower Installer in 2010
China is amongst the fastest growing wind energy market in the world and as a result demand for wind components increased drastically which drove wind tower installation and production. China’s wind tower market experienced an enormous growth in past few years and has witnessed a growth rate of over 100% during 2003 to 2009. The cumulative installation of wind tower is estimated to increase from 21,729 units by 2009 to around 33,729 units in 2010. China became the leading installer of wind tower in 2010 with 12,000 units installed producing approximately 18GW of wind energy.
China is one of the leading and fastest growing wind energy markets in the world, with an annual installed capacity of 18,000 GW in 2010. The Chinese wind tower market has followed the wind power market trend and grown along with it. The fastest growing Gross Domestic Product (GDP) in the world and rapid industrialization has resulted in huge electricity demand and high carbon dioxide (CO2) emissions. To combat the developing energy bottleneck the Chinese government has set a goal to generate 15% of its electricity from renewable sources by 2020. The Chinese government has found wind power as an alternative source to balance their energy mix, combat global warming and ensure energy security.
GlobalData’s “Wind Towers - Global Market Size, Unit Shipments, Market Share, Regulatory Framework and Price Analysis to 2015” gives a clear description and understanding of the wind towers market. The report provides detailed analysis and forecasts of the wind tower industry installed capacities, market structure and regulatory policies. It provides information about the key market drivers and restraints related to global and regional markets. The report provides an analysis of the growth and development of energy derived from wind power on a global basis. Additionally, it analyzes the costs involved in wind technology. It also gives key information on the market shares of the leading companies globally.
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