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Global Wind Turbine Market, 2nd Edition, The

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Market

Environmental

Report Type

Market Research

Country

Global

Published

1 November 2011

Number of Pages

174

Report Delivery

Email

Delivery Lead Time

1-3 hours, 24 hour max

Publisher

SBI

File Format

-

Report: United States Continues To Dominate the Import Market for Wind Turbine Generating Sets

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. We see 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 our 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.

Report Sample:

While {___}may be losing ground to {___}and {___}in terms of general wind turbine installations, one area where the region is still extremely dominant is in offshore wind. In 2010 the region still maintained XX% of the world's total offshore wind capacity and installed XX% of all new offshore wind turbines for the year as well.

The {___}is the undisputed leader in offshore wind, with XX% of the world's capacity as of 2010, focused on the country's {__}. Other European countries with major offshore installations include {__}, {__}, {___}and {__}. In {___}only {___}and {___}have installed any offshore wind turbines.

{___}has stated that developing offshore wind is a key part of its renewable energy strategy and will be radically increasing the number of offshore turbines it installs over the next XX years. However, {___}continues to invest heavily in offshore wind as well and both {___}and {___}have committed to extensive amounts of offshore wind installations in the next XX to XX years. This extensive interest across broad regions of the world means there is no question the percentage of YoY offshore installations versus onshore installations is going to grow at a fast rate over the next five years and that growth will likely continue throughout the decade. While {__}. is poised to begin offshore wind installations, constant ongoing legal and environmental battles mean offshore wind in {___}will likely not take next decade. For wind developers to realize a profit with the existing revenue system in Germany, they will have to maximize profits by reusing the locations which provide more generous wind resources.

When compared to the LCOE of other electricity generation systems, wind is one of the most cost effective renewable energy sources available, with the LCOE of onshore wind beaten by only hydro and biomass electricity generation. Of course, RE sources are still more costly than non-RE sources, but steady improvements have brought onshore wind close to the same price as conventional coal plants. In fact, if new coal plants are required to be build with a carbon capture system (CCS), then onshore wind is considerably more economical over the entire life of the system.

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Select License Type

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An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

Site License

Site License

An electronic version (mostly PDF, but can be Excel or PPT). Where the report(s) is intended for use by more than one individual, across for example, a site, an office, or a division or country.

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Corporate License

An electronic version (mostly PDF, but can be Excel or PPT). Where the report(s) is/are intended for use by an organisation in its entirety. For example, if reports are put on an Intranet or if they are distributed or used by more than one office, division, or country operation, then a Corporate Licence is required.

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