According to a recent report from Pike Research, the North American market for wind turbines will continue to grow through 2015, driven by new generation additions, as well as replacements of smaller, older turbines with larger, more efficient turbines.
Pike Research's study, ‘Wind Energy Outlook for North America,’ analyzes the opportunities and challenges facing wind power in North America in the current economic and political climate.
Key players in the wind energy business are profiled. The report includes quantitative analysis for market sizing, segmentation, market share analysis of turbine vendors, and growth forecasts for the U.S. and Canada through 2015.
The cleantech market intelligence firm forecasts that the turbine market will resume its growth in 2011, following three years of stagnation. According to the report, cumulative wind turbine deployments will exceed 40,000 units during the period from 2010 to 2015.
In addition, Pike Research forecasts that 45% of all turbine installations in North America will be replacements
‘The global economic crisis that began in late 2008 has thrown the industry into confusion, along with most global industries,’ says Clint Wheelock, managing director of Pike Research. ‘Still, we see cause for optimism in the longer term as capital markets recover and the regulatory environment improves for wind energy.’
The report also examines how many turbines will be required to meet wind generation capacity goals, key industry growth drivers, challenges inhibiting the growth of wind power, and the economics of turbine manufacturing, installation, operations and maintenance.
SOURCE: Pike Research