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Global Wind Energy Industry Still Strong Despite Recession
Boulder CO (SPX) May 08, 2009 The wind energy industry has been battered by the global economic crisis, with market participants being dealt a severe blow by the credit crunch that began in 2008. However, the future prospects for wind energy remain bright, according to a new report from Pike Research. The cleantech market intelligence firm forecasts that total installed wind generation capacity will reach 320 gigawatts (GW) in 2015, representing a 165% increase over 2008 levels. "The wind energy market will continue to grow, but not at the pace that was expected prior to 2009," says managing director Clint Wheelock. "The economic crisis has thrown the industry into a tailspin, and there are many different views about how the market will develop over the next few years. Our forecast is approximately 20% lower than the wind industry's own numbers released earlier this year, but we still see cause for optimism as fundamental demand drivers for wind turbines remain strong." In addition to new site development, one key revenue driver will be the replacement of aging turbine fleets. "Most turbines were designed for a 20-year useful life," says Wheelock, "but in many cases it makes economic sense to replace 10-year-old turbines with newer, larger, more efficient models." By 2015, Pike Research forecasts that 31% of all turbine installations will be replacements, with an even higher percentage in Europe given that region's larger number of legacy turbines. Pike Research's study, "Wind Turbine Opportunities and Outlook", analyzes key market factors in the global wind energy industry, including technology issues, regulatory frameworks, and the competitive landscape. The report includes rich quantitative analysis such as market sizing, segmentation, market share of top turbine vendors, and global growth forecasts by country through 2015. An Executive Summary of the report is available for free download on the firm's website. Share This Article With Planet Earth
Related Links Pike Research Wind Energy News at Wind Daily
New wind turbine blade technology created
West Lafayette, Ind. (UPI) May 6, 2009 Purdue University and Sandia National Laboratory scientists say they've developed a technology designed to improve the efficiency of wind turbine blades. |
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