The market for wind energy has registered remarkable growth in the last few years and is expected to grow significantly in the wake of growing interest in developing and harnessing alternatives to traditional fossil fuels, according to a report from Lucintel.
Lucintel has analyzed the wind energy market and published a research report titled ‘Regional Benchmarking of Wind Energy Market for China, US, Germany and India.’
Four nations – Germany, the U.S., China and India – have been taken into consideration in order to analyze the overall wind energy market. This report identifies factors contributing to the competitive advantages of the wind energy sector and measures the attractiveness of those factors for each of the four nations.
According to the study, the top five countries in the worldwide wind energy market are China, the U.S., Germany, Spain and India with market shares of approximately 21%, 20%, 14%, 11% and 7%, respectively, representing approximately 73% of the total cumulative wind energy market at the end of 2010.
In 2010, China surpassed the U.S. in terms of cumulative wind energy capacity installed. The U.S. and China are expected to grow considerably in the next five years and beyond, according to the report.
Lucintel's research report details the industry's life cycle, market trend and forecast, drivers and challenges. Findings are detailed through cluster analysis, international competitive benchmarking and discussions of growth scenarios for the nations covered, according to the company.