In 2008, North American wind power generation capacity passed the 27 gigawatt (GW) mark by adding almost 9 GW from the year before, which represented the largest individual gain of any region in the world. According to a recent report from Pike Research, the 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. The cleantech market intelligence firm forecasts that the turbine market will resume its growth in 2011, following three years of stagnation, and cumulative wind turbine deployments will exceed 40,000 units during the period from 2010 to 2015.
“The year 2009 will be a defining moment for wind power markets around the world,” says managing director Clint Wheelock. “The global economic crisis that began in late 2008 has thrown the industry into confusion, along with most global industries. Still, we see cause for optimism in the longer term as capital markets recover and the regulatory environment improves for wind energy.”
In addition to new deployments, another growth driver will be the replacement of aging turbines with newer, larger, more efficient models. By 2015, Pike Research forecasts that 45% of all turbine installations in North America will be replacements.
Pike Research's study, “Wind Energy Outlook for North America”, analyzes the opportunities and challenges facing wind power in North America – particularly turbine manufacturers – in the current economic and political climate. Key players in the wind energy business are profiled and the report also includes rich quantitative analysis including market sizing, segmentation, market share analysis of turbine vendors, and growth forecasts for the United States and Canada through 2015. An executive summary of the report is available for free download on the firm’s Web site.
Pike Research is a market research and consulting firm that provides in-depth analysis of global clean technology markets. The company’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 renewable energy, clean transportation, clean industry, green consumers and environmental management sectors.