WASHINGTON--(BUSINESS WIRE)--BTM Consult, a premier forecaster and data source for the international wind industry and part of Navigant’s global Energy practice, announced today that it has released International Wind Energy Development – World Update 2010.
Wind market development is one of the world’s fastest growing energy-related industries. The 140+ page report is the 16th annual edition and includes more than 80 tables and graphs illustrating wind market development, as well as a five‐year forecast with longer-term predictions for the market through 2020.
The report delivers several views on the fast-growing wind market, including:
- Record installation of 39.4 GW
- Strong presence of four Chinese wind turbine suppliers in the “Top 10” list
- China now the leading market globally, with 18.9 GW of new capacity
- Offshore wind power is on track for increased contribution to Europe
- Market value is expected to grow from €66.8 billion in 2011 to €111.7 billion in 2015*
- Direct-drive turbines now account for 17.6% of the world's supply of wind power capacity
- Wind power is expected to deliver 1.92% of the world's electricity in 2011*
- Current indications are that wind power is expected to be able to meet 9.1% of the world’s electricity demands by 2020*
International Wind Energy Development – World Update 2010 includes individual country wind market assessments, incentives around the world, and detailed analysis of both the demand- and supply-sides of the wind market in 2010. This year’s report includes a full chapter dedicated to the evaluation of the shift towards direct‐drive wind turbines.
With 39,404 MW added in 2010, total global installed wind generation capacity grew to approximately 200,000 MW. This represents a cumulative market increase of 25% from 2009. The most significant trend in international wind development in 2010 was China’s booming wind industry with 18,928 MW of new capacity—the highest volume ever by one country in a single year. A recent decline in the U.S. market provided only 5,115 MW of new capacity in 2010 – about half of its 2009 installed capacity – while Europe lost its previous position as the largest wind power continent, providing only 27.9% of all new installations in 2010 – down from 51% four years ago.
The 2010 offshore wind market saw nine new projects with 1,444MW of wind capacity installed. The majority of the new offshore capacity was installed in the UK, with Denmark and Belgium also contributing with large scale projects.
Among suppliers of wind turbines, China once again dominated the market, with four Chinese manufacturers – Sinovel, Goldwind, Dongfang and United Power – included in the top 10, while Danish manufacturer Vestas held on to the top-supplier spot in 2010.
Looking forward, the report projects an average global growth rate of 15.5% per year for new annual installations through 2015, resulting in expected total global capacity of 513.6 GW by 2015*. In the following less predictable five-year period 2016 – 2020, the expectation is for an average annual growth rate of approximately 11.5%, closing in on the 1,000 GW milestone by the end of 2020.* By then, based on the International Energy Agency’s prediction of overall demand, wind power is expected to supply 9.1% of the world’s electricity.* A major driving force for the wind power market throughout this period is expected to be continued strong growth across Asia, especially in China.*
For additional information about the report, please contact Per Krogsgaard at email@example.com or + 45 97 32 52 99.
About BTM Consult
Founded in 1986, Denmark‐based BTM Consult is a premier forecaster and data source for the international wind energy sector. Since 1996 BTM Consult has annually published the highly regarded International Wind Energy Development World Market Update, in addition to several other recurring globally‐focused wind market reports, including its first release of the Offshore Wind Report in 2010. On December 20, 2010, BTM Consult became part of Navigant’s global Energy practice. Additional information about BTM Consult can be found at www.navigant.com/btm.
Navigant (NYSE: NCI), is a specialized global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.
* The information contained in this press release concerning the report, “International Wind Energy Development – World Update 2010,” is a summary and reflects BTM Consult’s current expectations based on market data and trend analysis. BTM Consult’s market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full BTM Consult report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used by BTM Consult to create the report. Neither BTM Consult nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.