Wind Energy: Global Markets
The global wind energy market was worth $130 billion in 2013 and $165.5 billion in 2014. The market is expected to grow at a compound annual growth rate (CAGR) of 7.2% between 2015 and 2020 resulting in $176.2 billion in 2015 and $250 billion in 2020.
- An overview of the global markets for wind energy.
- Analyses of global market trends, with data from 2014, estimates for 2015, and projections of compound annual growth rates (CAGRs) through 2020.
- Coverage of factors such as rising energy costs, changing government regulations and improving efficiencies.
- A look at the industry from a manufacturing as well as an energy capacity point of view.
- Consideration of the industry in terms of both onshore and offshore perspectives.
- Evaluation of the market's dynamics, specifically growth drivers and inhibitors, as well as opportunities.
- Comprehensive profiles of major players in the wind turbine industry.
The scope of this study encompasses the major wind turbine markets. Each market is analyzed to determine its current status and the future market is forecast for the next five years. Technological issues including the latest trends are discussed. Other factors such as rising energy costs, changing government regulations and improving efficiencies are reviewed. The wind energy industry is reviewed on a nationwide basis, both from a manufacturing and energy capacity point of view. The report also examines government support and activities of wind industry organizations.
The market size for future onshore and offshore wind power generation has been estimated by studying the possible future technology trends in the market. This report analyzes and forecasts the market volume and revenue for the onshore and offshore wind energy markets and provides an analysis of the market size of wind power in terms of capacity (megawatt [MW]) and revenue in USD billions. The report analyzes the onshore and offshore wind energy sectors in detail along with data covering five regions: North America, Asia-Pacific, Europe, the Middle East and Africa, and South and Central America.
The regulations prevailing in various countries have been analyzed separately. Turbine cost projections and forecasts have been provided in the report and accounted for while calculating revenue figures. The market share of major companies is provided in the report based on turbine capacities supplied by them.
Srinivasa Rajaram is a mechanical engineer with more than 40 years of experience in designing factory layouts and setting up factories. He has set up factories for the production of weighing and dynamic balancing machines in India and has experience in designing, producing and servicing that equipment. He was Senior Vice President at M/S Schenck Avery Limited, an Indo-German joint venture, and has set up an automatic paint shop for painting various components of weighing and dynamic balancing equipment.
- The U.S. market for wind turbines generated $7.9 billion in 2007. This is expected to reach $11.2 billion by the end of 2008 and $61.0 billion in 2013, for a compound annual growth rate (CAGR) of 40.0%.
- Texas represents the largest market segment, worth $2.4 billion in 2007 and an anticipated $3.0 billion in 2008. This should reach $15.2 billion in 2013, a CAGR of 38.0%.
- California is expected to be the fastest growing segment, generating $95.0 million in 2007 and an expected $676.0 million in 2008. This is expected to grow at a CAGR of 91% to reach $17.1 billion in 2013.