Global wind power investment to total $820 billion from 2011 to 2017
Over that same period, total wind generation capacity, including both onshore and offshore projects, will increase from 235.8 gigawatts (GW) in 2011 to 562.9 GW in 2017.
While the global economic recession significantly slowed the pace of new wind power installations in 2010, turbine deployment activity remains strong and overall capacity will continue to rise at a healthy pace.
Senior analyst Peter Asmus said: â€œAlthough growth rates of new wind installations will fall short of the industryâ€™s boom period, cumulative wind power capacity will grow steadily over the next six years. Despite the challenging market conditions for the wind energy industry, this is a dynamic time for innovation in the market, as vendors are pushing turbines to sizes never before thought practical or economical.â€
At the highest level, three major regional markets will continue to drive the global wind industry: Asia Pacific, dominated by China and, to a lesser extent, India; Europe, led by Germany and Spain; and North America, led by the US.
Illustrating the dynamic growth of new market entrants, the top 10 wind manufacturers supplied 79 percent of the wind turbines installed worldwide in 2010 - a significant drop from 88% only two years before. The majority of these new entrants are based in China.
At the same time, numerous high-level mergers and acquisitions have resulted in more dynamic, vertically integrated wind turbine manufacturing companies. Increasingly, manufacturers are acquiring wind farm development companies as a strategy for ensuring markets for their turbines.
The research firm claims that wind power now accounts for the majority of the worldâ€™s non-hydropower renewable electricity capacity.
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