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Windtech International March April 2024 issue






Despite the current economic turmoil, the global trend towards greater renewable energy deployment points to a sustained period of wind turbine investment, with  equipment purchases expected to more than double by 2025, according to a new IHS Emerging Energy Research study released by information and analysis provider IHS.

2011 investment levels will fall below their historic 2008 high, but investment will increase from US$ 30 billion in 2010 to more than US$ 68 billion in 2025. This trend corresponds with worldwide installed wind capacity rising from 188 GW to over 940 GW during this forecast period. The study, Global Wind Turbine Markets and Strategies: 2011-2025 provides a comprehensive and current analysis of global wind turbine markets. Key features of the market’s growth drivers cited in the study include strong long term renewable electricity demand in the global market, combined with intensifying competition between Asian and European suppliers, technology shifts toward larger turbine procurement, and buy-side consolidation. Investment levels will return to previous highs (US$ 34 billion in 2008) by 2012, the study finds. Slower than expected economic recovery in the USA, a plateau in European demand, and continued pressure on prices globally are among the reasons investment will remain below the 2008 mark in the short term. IHS expects the amount of installed wind power capacity to jump 16 percent in 2011 compared to the previous year. The increase in installed capacity will translate into a 14 percent increase in investment for the year, according to the study. Average prices for turbine plus tower remain below US$ 910/kW in 2011, due to ongoing globalization of turbine manufacturing, increasing competition from Asian suppliers and an abrupt drop in demand that have created a challenging environment for manufacturers, the study says. The study also includes analysis of the strategies of leading and emerging turbine manufacturers, their competitive positioning in the global market, and the challenges they face going forward.
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