BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research examines changes that occurred in the wind energy sector during 2015 and provides forecasts for 2016-2020, as well as an outlook through 2025.
With growth occurring in almost every market, 2015 marked another record-breaking year for the wind industry. Due to the revival of the U.S. and German markets, and record installations in China, 2015 also signified a shift in the rankings of the world’s top wind turbine suppliers. Click to tweet: According to a new report from @NavigantRSRCH, Goldwind unseated Vestas, the longtime top global manufacturer, as the leader in annual capacity.
“Most wind turbine suppliers rode a record wave of wind capacity installation globally,” says Jesse Broehl, senior research analyst with Navigant Research. “This is especially true for the Chinese suppliers that represented 48 percent of 2015 capacity additions.”
Overall, 63 GW of wind power capacity was added globally in 2015, reflecting a 23.2 percent increase from the 51 MW installed in 2014. Much of last year’s growth was driven by China, where booming wind plant construction and underlying wind turbine supplier dynamics show a split market between the country and the rest of the world, according to the report.
The report, World Wind Energy Market Update 2016, includes more than 100 tables and charts illustrating the development of the global wind energy market. The study examines changes that occurred in the wind energy sector during 2015 and provides forecasts for 2016-2020, as well as an outlook through 2025. Policy, incentives, and other drivers are detailed for all relevant country markets, including analyses of key drivers and barriers for each market that informs the report forecasts. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, World Wind Energy Market Update 2016, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. 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 report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.