Wind Power Market, Update 2018 - Global Market Size, Average Price, Turbine Market Share, and Key Country Analysis to 2025
Wind Power has seen tremendous growth over the past few years and is expected to maintain its competitiveness in the energy market. In 2006, electricity from wind power sources contributed to less than 1% of the total supply in the world. With increased capacity and better generation, this share reached 4.6% in 2017 and is expected to increase to 7.0% in 2025.
Global installed wind power capacity increased from 74.6 gigawatts (GW) in 2006 at a CAGR of 19.9% till 2017. And it is expected to grow further during 2018-2025 and reach a cumulative installed capacity of 1,019.5 GW by 2025. Asia-Pacific was the largest market in terms of cumulative installed wind power capacity with 236.4 GW in 2017.
Until now, feed-in tariffs (FiTs) have been the major method of government to drive the growth of wind energy. However, with the changing scenario, an auction-based bidding mechanism will drive wind power in most of the key wind power markets. This process leads to cost competitiveness, and it also encourages state-owned distribution utilities to award wind power projects through a bidding route. Recent wind auctions in Brazil, Canada, Germany, India, Mexico, and Morocco resulted in reduced onshore wind power prices.
Furthermore, major boost in the investment is expected due to increase in the capacity installations, led by countries such as China, the US, Germany, and India as well as emerging countries in the Asia-Pacific, the Middle East and Africa (MEA), and South and Central America regions.
Wind Power Market, Update 2018 - Global Market Size, Average Price, Turbine Market Share, and Key Country Analysis to 2025, report provides a clear overview of and detailed insight into the global wind market. It explains the key drivers and challenges affecting the market and provides data covering historic and forecast market size, average capital cost, installed capacity and generation globally, and in eleven key wind power markets - China, India, Brazil, Mexico, Canada, France, UK, US, South Africa, Germany, and Japan.
Companies Mentioned: GE Power, Vestas Wind Systems A/s, Nordex SE, Suzlon, Xinjiang Goldwind Science & Technology Co., Ltd., EnerconGmbh, Envision Energy Limited, China Ming Yang Wind Power Group Limited, Siemens Gamesa Renewable Energy SA.
The report includes -
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