Wind Turbines: The U.S. Market

August 27, 2008

Wellesley, Mass—According to a new technical market research report, WIND TURBINES: THE U.S. MARKET (EGY058A) from BCC Research, the domestic market for wind turbine components and systems will be worth $60.9 billion in 2013. This represents an increase from the 2007 market value of $7.9 billion and the estimated 2008 market value of $11.2 billion. The compound annual growth rate (CAGR) between 2008 and 2013 is expected to be 40.0%.

The market is analyzed by state and includes the top ten spenders on wind turbine technology: Texas, California, Iowa, Minnesota, Washington, Oregon, Colorado, New York, Kansas and Illinois. Texas has the largest statewide expenditure, exceeding $2.4 billion in 2007 and an estimated $3.0 billion in 2008. This should grow at a CAGR of 38.0% to reach $15.2 billion in 2013.


In 2007 Colorado spent over $1.2 billion on wind turbines, second only to Texas. Colorado has not recorded any wind turbine installations for 2008. The projection is that Colorado will install approximately $3.7 billion worth of wind turbines in 2013.

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California has often been the testing grounds for new wind turbine developments and technologies, and is expected to surge ahead in the coming years. From anticipated spending of over $676.0 million on wind turbines in 2008, California is expected to spend as much as $17.1 billion in 2013, a CAGR of 91.0%.

Iowa is expected to spend over $1.3 billion in 2008 and over $3.1 billion in 2013, a CAGR of 19.0%.

Minnesota had very strong growth in 2007 with expenditures of $607.0 million, which will decrease in 2008 to roughly $142.0 million. Nonetheless, they are expected to spend nearly $2.8 billion in 2013.

The State of Washington had significant expenditures in 2006 and 2007, both above $500.0 million. They are expected to spend about half of that amount in 2008 and approximately $2.2 billion in 2013.
 

Wind Turbines and Related Products( EGY058A )
Publish Date: Aug 2008    

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