These figures were released yesterday in a new market research report entitled Global & China Wind Turbine Market (2010-2015), published by MarketsandMarkets. According to the new report, the fastest growing region is expected to be Asia Pacific, with installations per annum rising at a CAGR of 11.3%, outpacing the traditional leader, Europe, by 2013. At the end of 2015, Asia Pacific will have 183 GW of installed capacity, followed by Europe at 144 GW and American (North & South) at 105 GW.
The US-based global market research and consulting company explains that the 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 [sic] the industry to grow at CAGR of 6% in per year installations and 17% in cumulative installed capacity between 2010 and 2015,” it forecasts.
China is expected to be at the forefront of this new growth, with its turbine market being supported by 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 domestic players. About 70% of turbine components should be manufactured within china as per government rule. Chinese players utilised and have the lion’s share of the domestic market, with a market share of more than 75% in 2009. Nevertheless, the Chinese government recently relaxed the rule in order to support more competition from foreign players, and it is therefore expected that many foreign technologists will set up new manufacturing facilities in China in the future. Hence, domestic players are 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.
For additional information:
____________________________________________________________________________________________________
