Asia wind power market: Latest market research analysed
Global demand for energy is increasing at a breathtaking pace, and this is particularly true in China, India and other rapidly developing economies. However, as demand on finite petroleum reserves and the price of the fuels derived from them continues to rise, renewable forms of energy are becoming more cost-effective and profitable. In the forefront of this renewable revolution is harnessing the sustainable power of wind.
Global wind energy capacity grew by 28.8% last year, even higher than the average over the past decade, to reach total global installations of more than 120.8 GW at the end of 2008. Over 27 GW of new wind power generation capacity came online in 2008, 36% more than in 2007.
Asia - with the two leading wind countries China and India and 24'439 MW of installed capacity - is in a position of becoming the worldwide locomotive for the wind industry. The growth in Asia's markets has been breathtaking; close to a third of all new capacity in 2008 was installed on the Asian continent. In particular, the wind energy boom is continuing in China, which once again doubled its installed capacity by adding about 6,300 MW (6.3 GW), reaching a total of 12,200 MW (12.2 GW). In fact, China added 6,300 mw of wind energy capacity in 2008, whereas India boosted its capacity by 1800 mw making them the 2nd and 3rd largest investors in this buoyant segment. The large additions to capacities in 2008 pushed up China's ranking in the total wind sector from the 5th to the 4th position with the capacity going up to 12,210 mw. India's ranking slipped a rung from the 5th to the fourth position during the period with its total capacity being only 9,645 mw.
Chinese domestic wind turbine manufacturers have started for the first time to export their products. It can be expected that in the foreseeable future Chinese and Indian wind turbine manufacturers will be among the international top suppliers.
In the present global recession scenario, the Asian wind market has thus far felt a slighter and more delayed impact from the global recession and banking crisis. A recent study concludes that the market will lead the global industry within the next five years. In fact in its response to the financial crisis, the Chinese government has identified the development of wind energy as one of the key economic growth areas.
Our report, Analyzing the Asian Wind Power Industry, is a complete analysis of the wind energy industry in Asia. The report analyzes the present global and regional market scenario, the prevalent wind resources in this continent, governmental policies, future projections, detailed analysis of the leading states/province and much more.
The report is a highly comprehensive research compilation of the booming wind power industry in Asia. The report also provides a look at the overall Asian energy industry and a brief profile of the global wind power industry as well.
The report, Analyzing the Asian Wind Power Industry, explores the importance of wind power in today's world. The report looks at the basics of the wind energy industry, economics, issues and barriers, and other such factors.
Countries analyzed in this report include, among others, India, China, Japan, South Korea, Australia, New Zealand (which are part of Australasia), Afghanistan, etc.