The global wind turbine market experienced its first decline in over five years in 2010, dropping 15.9% to $42.3 billion as the pace of turbine installations in most countries slowed considerably. Total megawatts (MW) installed was down by 5.3% to 38,079 MW for 2010 and would have been much less if China had not taken a commanding lead in the market, installing almost half of all new global wind capacity during the year. The U.S., on the other hand, only installed half as much new capacity in 2010 as it did in 2009.
Despite continuing to be the largest wind turbine market for 2011, China's will no longer maintain its stratospheric growth in the market. China's wind turbine installations in 2011 will be 19,300 MW, just 2.0% more than in 2010. From a financial perspective the news is much worse, as still dropping turbine prices will force the Chinese wind turbine market down by 7.1% in 2011, a drop that will be only slightly recovered in 2012.
In the short term, curtailment of already installed wind systems because of inadequate transmission systems are going to be a large prohibitive factor against new wind developments in China and, to a lesser extent, in the U.S. and India. SBI Energy sees new wind turbine installations up by 12.0% in 2011 over 2010, but up only another 8.3% in 2012. In fact, it will not be until 2015 or 2016 that transmission issues in China are resolved sufficiently that the country will again achieve double digit growth in wind installations.
The U.S. continues to be the top import country for wind turbine generating sets in 2011, but the UK and Germany rose in ranking over Canada from 2010. Together these four countries account for just over half of all imports. Exports are typically dominated by Denmark and Germany, which together provide 60% of the world’s wind turbine generating set exports. However, total exports will be up significantly in 2011 to $5.9 billion as manufacturers in soft wind markets such as Germany and Spain aggressively expand to other regions. Despite its position as the number one regional market in 2010 and again in 2011, China’s wind turbine industry was almost entirely domestic and the country’s wind turbine manufacturers exported very little product.
The wind turbine market is still most heavily influenced by government subsidies and this will continue through the next decade. The support or neglect of governments for wind energy is the main driver behind SBI Energy's three different forecast scenarios in this report. In the median scenario the world wind turbine market is going to climb to $72.8 billion in 2015, with a world total of 442 GW installed. With only moderate government help, the world market is going to reach $138.8 billion in 2020 with a cumulative 876 GW of wind turbines installed world wide. However, with poor government support the 2020 wind turbine market could be as low as $66.6 billion, and with exceptional government support the market could reach up to $326.9 billion at the end of the decade.
The Global Wind Turbine Market, 2nd Edition by SBI Energy provides deep insight into current and future markets for wind turbine systems sold and installed worldwide, focusing on key countries for each market segment. The analysis includes definitions, current product offerings and market detail on the following segments:
The overall sales of wind turbine systems, including towers, nacelles and blades
An in depth look at the market for wind turbine nacelles, looking particularly at imports and exports.
The report also puts the wind turbine market into perspective by studying the world energy market and analyzing the factors that influence the use of wind over other energy sources.
This report contains primary and secondary data obtained from government sources, trade associations and publications, business journals, scientific papers, company literature, investment reports, and interviews with industry professionals. Statistics on wind installations comes from a number of sources including the U.S. Department of Energy, the Global Wind Energy Association (GWEA), The American Wind Energy Association (AWEA) and the Chinese Renewable Energy Industries Association (CREIA); production cost indexes are from the U.S. Bureau of Labor Statistics; import and export data come from the U.S. International Trade Commission, The United Nations ComTrade database, EuroStat and others.
What You’ll Get in This ReportThe Global Wind Turbine Market, 2nd Edition provides a concise, focused look on the markets for wind turbines as they exist today, and shows where these markets are moving between 2011 and 2020. The report highlights key players manufacturing wind turbines and pinpoints ways that current and prospective competitors can capitalize on recent trends and spearhead new ones. No other market research report provides both the comprehensive analysis and comprehensive data that The Global Wind Turbine Market, 2nd Edition offers. You will also benefit from the report’s presentation of its extensive data in easy-to-read and practical charts, tables and graphs.
How You’ll Benefit from this Report
If your company is considering investing in the wind energy market, or is involved with renewable energy or wind turbine component businesses, you will find this report invaluable as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for both onshore and offshore wind turbines, as well as projected markets and trends for these technologies through 2020. The report also provides a concise view of the geographic breakdown of the wind turbine market, outlining key drivers and barriers for each key market country.
This report will help:
Marketing managers identify market opportunities and develop targeted promotion plans for businesses looking to develop markets within renewable energy or wind turbine manufacturing.
Research and development professionals stay on top of competitor initiatives and explore demand for new wind turbine technologies as well as the downstream product market for wind energy.
Advertising agencies working with clients in a host of market sectors such as electricity generation, cleantech investing and industrial manufacturing to develop messages and images that compel businesses and industries to adopt wind energy for part or all of their energy needs.
Business development executives understand the dynamics of the market and identify possible partnerships with raw material providers, key organizations and wind turbine manufacturers with unique products or processes. The report also provides crucial information on job creation that is spurred by wind turbine production.
Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.
Global Wind Turbine Market on Road to Recovery with 5.1% Growth in 2011, SBI Energy
The wind turbine market fell 15.9% in 2010 to $42.3 billion, while new global installations stayed flat at -0.3% for 38,079 megawatts (MW). In sharp contrast, the global wind turbine market nearly tripled in value between 2006 and 2009, climbing to $50.3 billion, according to a new study from SBI Energy. New wind turbine installations grew at a slightly slower pace, rising from 15.1 GW installed to 38.2 GW in just four years.
"The disparity between market value and new installations is due to China," SBI Energy analyst Norman Deschamps says, "which accounted for half of all new installs, but at prices close to 40% lower than the rest of the world. The recession in 2009 cut into new orders, slowed production and depressed pricing."
Unlike last year, wind turbine market growth in 2011 is largely due to a strong showing in U.S. and Indian wind turbine markets. Meanwhile, relatively slight growth will take place in China and Germany while a previously core market in Spain will continue its decline. Despite gains in 2011, profits are anticipated to decline for many manufacturers, particularly in China, as low turbine prices continue to eat away at margins. After the substantial drop in 2010, the wind turbine market is going to recover in 2011, climbing 5.1% to reach $44.5 billion.
SBI Energy's report forecasts China and the U.S. will continue to be the top markets for wind turbine sales through 2020. From just over half the market in 2010, the two countries will still be responsible for 45.4% of the wind turbine market in 2020. During the decade to come the U.S. will expand its overall share of the market while China's will drop significantly, which is not surprising considering how unbelievable China's growth was in 2010.
This report provides expert insight into both the current and future market for wind turbine systems sold and installed worldwide, focusing on key countries in the production, import, export and installation of wind turbines. The analysis includes definitions, current product offerings and market detail on overall sales of utility-scale wind turbine systems, and an in-depth look at the global imports and exports of wind turbines, identifying key countries for both trade types and looking at long term export trends.