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Wind Turbine Market Analysis to 2015
Wind Turbine Market Analysis to 2015
Wind Energy, the Fastest Growing Renewable Energy Source
Hyderabad,
AP,
India
(prbd.net)
30/11/2010
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.
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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.
The Asia-Pacific wind turbine market has emerged as the largest wind turbine market of 2009, replacing the previous leader, Europe. The market has grown from 466 MW in 2001 to 15.88 Gigawatts (GW) in 2009 at a CAGR of 55%. The growth of Asia-Pacific region is primarily contributed by the accelerated growth of Chinese wind turbine market. The rapid growth in China wind turbine market is fueled by regulatory and policy framework introduced by the Chinese government. Since 2006, wind turbine market witnessed 100% growth primarily supported by the introduction of a feed-in tariff structure applicable for the entire operational period of a wind farm.
The report provides detailed analysis and forecasts of the wind turbine industry installed capacities, market structure and regulatory policies that govern the industry. It provides information about the key market drivers and restrains related to global as well as regions. .The report provides analysis of the growth and development of energy derived from wind power on a global basis. Additionally, it analyses the cost –related aspects of the wind technology. It also gives insightful information on the market shares of the leading companies in global and the key countries.
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