DALLAS--(BUSINESS WIRE)--The wind turbine market has experienced significant growth over the last five years and is expected to continue its momentum, reaching approximately US $96 billion by 2016 with a CAGR of 12% over the next five years for annual installations.
Lucintel, a leading global management consulting and market research firm, has analyzed the wind energy market and presents its findings in “Growth Opportunities in Wind Energy Market 2011–2016: Materials, Market and Technologies.”
Concerns over climate change, crude oil prices, and increasing energy demand are generating global interest in renewable resources to meet the world’s energy needs. Wind is a clean, abundant, rapidly growing energy source. The business of generating electricity from wind is set to expand as China, the US, and Rest of the World (ROW) seeks cleaner, more sustainable ways to create electricity. Although wind is more expensive than conventional energy sources, wind turbines have evolved rapidly and decades of research and development have resulted in lower wind energy prices making wind energy competitive with fossil-based fuel energy prices.
Lucintel’s research indicates that the growth rate in cumulative capacity is expected to decrease every year as global cumulative wind capacity increases. The cumulative effect brings total capacity to 568,310 MW by the end of 2016. Asia is expected to remain the leader in wind energy installations. The Chinese and the USA markets are expected to top the list in new turbine installations, with Portugal, France, Italy, the UK, Ireland, and the Netherlands steadily adding capacity.
Composites consumption in the wind market is expected to witness a healthy growth over the forecast period and reach US $5.5 billion in 2016.
Lucintel’s research report provides detailed market structure, value chain analysis, and comparative analysis of wind markets. The report also details the wind market’s drivers and challenges, policies affecting the market, competitive analysis between wind energy with other energy sources, composite materials consumption in the wind energy market, and more.
For a detailed table of contents and pricing information on this timely, insightful report, contact Lucintel at +1-972-636-5056 or via email at firstname.lastname@example.org. Lucintel provides cutting-edge decision support services that help facilitate critical decisions with greater speed, insight, and cost efficiency. To find out more, please visit www.lucintel.com.