BTM Consult ApS has released its 15th annual update on the status of the international wind power industry. The booming worldwide market for wind power capacity is expected to grow to 447 GW within five years – almost three times its present level, according to ‘World Market Update 2009.’ Within 10 years, it could expand to nearly 1,000 GW and meet 8.4% of the world's electricity demand.
The analysis by BTM Consult shows that the wind energy industry experienced another excellent year in 2009. With 38,103 MW of new turbine installations, total installed capacity grew to around 160,000 MW. This represented a year-over-year growth rate of 35% and an increase in cumulative installations of 31%. Global wind power capacity has now grown by an annual average of 36% over the past five years.
China emerged as the most successful market, installing 13,750 MW – the highest volume ever by one country in a single year. The U.S. also continued its recent hectic pace, with almost 10,000 MW of new capacity. Europe saw 10,738 MW installed, with Spain and Germany as the best performers, although its overall proportion of global wind capacity has now fallen below 50%.
The development of offshore wind parks pushed forward more positively, with 689 MW of new capacity commissioned in the sea. The expectation is that the offshore sector will now deliver an increasing proportion of global wind power.
Among suppliers of wind turbines, China now dominates the market, with three Chinese manufacturers – Sinovel, Goldwind and Dongfang – now in BTM Consult's top 10 listing. The top spot on the chart was retained by Danish manufacturer Vestas. U.S. supplier GE Energy had nearly the same supply.
Looking forward, BTM projects an average growth rate of 13.5% over the next five years, resulting in a total global capacity of 447 GW by 2014. In the second, less predictable five-year period up to 2019, the expectation is for an average growth rate of 12.1%. By then, based on the International Energy Agency's prediction of overall demand, wind power will be supplying 8.4% of the world's electricity. A major driving force for the wind power market throughout this period will be continued strong growth across Asia, especially in China, according to the report.
SOURCE: BTM Consult ApS