REFERENCE CODE GDAE1099MAR | PUBLICATION DATE JUNE 2015
WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET
SHARE AND KEY COUNTRY ANALYSIS TO 2025
Wind Power Market, Update 2015 – Global Market Size, Average Price, Turbine Market Share and Key Country Analysis to 2025 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
Executive Summary
Growing Global Wind Power Market
Wind is one the fastest growing energy sources in
the world. From an emerging fuel source XX years
ago, it has transformed into a commercial
electricity-generating technology in more than XX
countries. Technological developments have
paved the way for more effective and reliable
equipment and machinery, making wind one of the
fastest-growing energy sources in the global
market. The exponential growth of the market is
fueled by depleting fossil fuel reserves, the
declining cost of wind power generation, and a
growing environmental awareness, and is being
supported by financial incentives from various
governments across the world. The global wind
power market stood at over $XX billion market in
2014 and the market is expected to grow
exponentially in the future.
China was the Largest Wind Power Market in Terms of Cumulative Installed Capacity in 2014
China is the global market leader in wind installed
capacity, with a cumulative installed capacity share
of XX% in 2014. It was followed by the Germany,
which accounted for XX%. China improved its
share and overtook the US in 2010 to become the
largest wind power market globally.
In 2014, around XX Gigawatts (GW) of new
capacity was added globally, and China was solely
responsible for XX% of this. China was followed by
Germany and the US, which accounted for XX%
and XX% of the capacity installed in 2014
respectively. Brazil and India each accounted for
XX% of the new installed capacity, and Canada
and the UK followed with respective shares of
XX% and XX%. The following figure illustrates the
installed capacity shares of the major markets in
2014.
Wind Power Market, Global, Cumulative Installed Capacity by Country (%), 2014
China
GermanyUS
Brazil
IndiaCanada
UKSwedenRomania
France
Other
Source: GlobalData
Onshore Wind Accounts for the Dominant Share of Total Wind Installed Capacity
In 2007, a cumulative total of XX GW of capacity
was installed, and this had increased to XX GW by
2014 The capacity will increase further to XX GW
during the 2014–2025 period, at a CAGR of XX%.
Offshore wind accounted for only XX% of the total
in 2014, although this was an increase from XX%
in 2007. As the technology becomes more
affordable and supplies for installing offshore wind
power plants become more available, the share is
expected to increase to XX% by 2025.
Wind Power Market, Update 2015 – Global Market Size, Average Price, Turbine Market Share and Key Country Analysis to 2025 4 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
Table of Contents
WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
1 Table of Contents
1 Table of Contents ......................................................................................................................... 4
1.1 List of Tables ........................................................................................................................ 12
1.2 List of Figures ....................................................................................................................... 18
2 Introduction ................................................................................................................................ 23
2.1 Wind Power Market, Technology Definition .......................................................................... 23
2.2 Wind Power Market, Technology Overview .......................................................................... 23
2.3 Wind Power Market, Turbine Components ........................................................................... 24
2.4 Report Guidance .................................................................................................................. 26
3 Wind Power Market, Global ........................................................................................................ 27
3.1 Wind Power Market, Global, Overview ................................................................................. 27
3.2 Wind Power Market, Global, Installed Capacity, 2007–2025 ................................................. 27
3.3 Wind Power Market, Global, Cumulative Onshore and Offshore Installed Capacity, 2007–
2025 ..................................................................................................................................... 29
3.4 Wind Power Market, Global, Cumulative Installed Capacity by Country, 2014 ...................... 31
3.5 Wind Power Market, Global, Power Generation, 2007–2025 ................................................ 33
3.6 Wind Power Market, Global, Onshore and Offshore Power Generation, 2007–2025 ............ 34
3.7 Wind Power Market, Global, Cost Analysis ........................................................................... 36
3.7.1 Wind Power Market, Global, Wind Farm Capital Expenditure, 2014................................ 38
3.7.2 Wind Power Market, Global, Major Turbine Component Share in the Total Turbine Cost,
2014 ............................................................................................................................... 39
3.7.3 Wind Power Market, Global, Factors Impacting Project Cost .......................................... 39
3.8 Wind Power Market, Global, Average Price and Market Size, 2014–2025 ............................ 41
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WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
3.9 Wind Power Market, Global, Average Turbine Size, 2006–2025 ........................................... 43
3.10 Wind Power Market, Global, Turbine Market Share, 2014 .................................................... 45
3.11 Wind Power Market, Global, Market Drivers and Restraints ................................................. 47
3.11.1 Wind Power Market, Global, Market Drivers ................................................................... 47
3.11.2 Wind Power Market, Global, Market Restraints ............................................................... 49
4 Wind Power Market, North America ........................................................................................... 51
4.1 Wind Power Market, North America, Overview ..................................................................... 51
4.2 Wind Power Market, North America, Installed Capacity, 2007–2025 .................................... 52
4.3 Wind Power Market, North America, Cumulative Onshore and Offshore Installed Capacity,
2007–2025 ........................................................................................................................... 53
4.4 Wind Power Market, North America, Cumulative Installed Capacity by Country, 2014 ......... 56
4.5 Wind Power Market, North America, Power Generation, 2007–2025 .................................... 57
4.6 Wind Power Market, North America, Onshore and Offshore Power Generation ................... 59
4.7 Wind Power Market, North America, Average Turbine Size, 2006–2020 .............................. 61
4.8 Wind Power Market, US ....................................................................................................... 62
4.8.1 Wind Power Market, US, Overview ................................................................................. 62
4.8.2 Wind Power Market, US, Installed Capacity, 2007–2025 ................................................ 63
4.8.3 Wind Power Market, US, Cumulative Onshore and Offshore Installed Capacity, 2007–
2025 ............................................................................................................................... 66
4.8.4 Wind Power Market, US, Power Generation, 2007–2025 ................................................ 68
4.8.5 Wind Power Market, US, Onshore and Offshore Power Generation, 2007–2025 ............ 70
4.8.6 Wind Power Market, US, Top Active and Upcoming Wind Power Plants, 2015 ............... 72
4.8.7 Wind Power Market, US, Average Turbine Size, 2006–2020 .......................................... 73
Wind Power Market, Update 2015 – Global Market Size, Average Price, Turbine Market Share and Key Country Analysis to 2025 6 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
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WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
4.8.8 Wind Power Market, US, Turbine Market Share, 2014 .................................................... 74
4.8.9 Wind Power Market, US, Onshore Levelized Cost of Electricity, 2014–2025 .................. 76
4.8.10 Wind Power Market, US, Average Price and Market Size, 2014–2025 ........................... 78
4.9 Wind Power Market, Canada ................................................................................................ 80
4.9.1 Wind Power Market, Canada, Overview ......................................................................... 80
4.9.2 Wind Power Market, Canada, Installed Capacity, 2007–2025 ......................................... 81
4.9.3 Wind Power Market, Canada, Power Generation, 2007–2025 ........................................ 84
4.9.4 Wind Power Market, Canada, Top Active and Upcoming Wind Power Plants, 2015 ....... 86
4.9.5 Wind Power Market, Canada, Average Turbine Size, 2006–2020 ................................... 87
4.9.6 Wind Power Market, Canada, Turbine Market Share, 2014 ............................................ 89
4.9.7 Wind Power Market, Canada, Levelized Cost of Electricity, 2014–2025 ......................... 91
4.9.8 Wind Power Market, Canada, Average Price and Market Size, 2014–2025 .................... 93
5 Wind Power Market, South America ........................................................................................... 96
5.1 Wind Power Market, Overview.............................................................................................. 96
5.2 Wind Power Market, South America, Installed Capacity, 2007–2025 .................................... 96
5.3 Wind Power Market, South America, Cumulative Installed Capacity by Country, 2014 ......... 98
5.4 Wind Power Market, South America, Power Generation, 2007–2025 ................................. 100
5.5 Wind Power Market, South America, Average Turbine Size, 2006–2020 ............................ 101
5.6 Wind Power Market, Brazil ................................................................................................. 103
5.6.1 Wind Power Market, Brazil, Overview ........................................................................... 103
5.6.2 Wind Power Market, Brazil, Installed Capacity, 2007–2025 .......................................... 104
5.6.3 Wind Power Market, Brazil, Power Generation, 2007–2025 .......................................... 105
5.6.4 Wind Power Market, Brazil, Top Active and Upcoming Wind Power Plants, 2015 ......... 108
Wind Power Market, Update 2015 – Global Market Size, Average Price, Turbine Market Share and Key Country Analysis to 2025 7 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
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WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
5.6.5 Wind Power Market, Brazil, Average Turbine Size, 2006–2020 .................................... 109
5.6.6 Wind Power Market, Brazil, Turbine Market Share, 2014 .............................................. 111
5.6.7 Wind Power Market, Brazil, Levelized Cost of Electricity, 2014–2025 ........................... 112
5.6.8 Wind Power Market, Brazil, Average Price and Market Size, 2014–2025 ..................... 114
6 Wind Power Market, Asia-Pacific.............................................................................................. 117
6.1 Wind Power Market, Asia-Pacific, Overview ....................................................................... 117
6.2 Wind Power Market, Asia-Pacific, Installed Capacity, 2007–2025 ...................................... 117
6.3 Wind Power Market, Asia-Pacific, Cumulative Onshore and Offshore Installed Capacity,
2007–2025 ......................................................................................................................... 119
6.4 Wind Power Market, Asia-Pacific, Cumulative Installed Capacity by Country, 2014............ 122
6.5 Wind Power Market, Asia-Pacific, Power Generation, 2007–2025 ...................................... 123
6.6 Wind Power Market, Asia-Pacific, Onshore and Offshore Power Generation, 2007–2025 .. 124
6.7 Wind Power Market, Asia-Pacific, Average Turbine Size, 2006–2020 ................................ 126
6.8 Wind Power Market, China ................................................................................................. 128
6.8.1 Wind Power Market, China, Overview ........................................................................... 128
6.8.2 Wind Power Market, China, Installed Capacity, 2007–2025 .......................................... 129
6.8.3 Wind Power Market, China, Cumulative Onshore and Offshore Installed Capacity, 2007–
2025 ............................................................................................................................. 132
6.8.4 Wind Power Market, China, Power Generation, 2007–2025 ......................................... 133
6.8.5 Wind Power Market, China, Onshore and Offshore Power Generation, 2007–2025 ..... 136
6.8.6 Wind Power Market, China, Top Active and Upcoming Wind Power Plants, 2015 ........ 138
6.8.7 Wind Power Market, China, Average Turbine Size, 2006–2020 .................................... 139
6.8.8 Wind Power Market, China, Turbine Market Share, 2014 ............................................. 141
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WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
6.8.9 Wind Power Market, China, Onshore Levelized Cost of Electricity, 2014–2025 ............ 143
6.8.10 Wind Power Market, China, Offshore Levelized Cost of Electricity, 2014–2025 ............ 146
6.8.11 Wind Power Market, China, Average Price and Market Size, 2014–2025 ..................... 148
6.9 Wind Power Market, India................................................................................................... 150
6.9.1 Wind Power Market, India, Overview ............................................................................ 150
6.9.2 Wind Power Market, India, Installed Capacity, 2007–2025 ........................................... 151
6.9.3 Wind Power Market, India, Cumulative Installed Capacity, 2007–2025 ......................... 154
6.9.4 Wind Power Market, India, Power Generation, 2007–2025 ........................................... 156
6.9.5 Wind Power Market, India, Onshore and Offshore Power Generation, 2007–2025 ....... 157
6.9.6 Wind Power Market, India, Top Active and Upcoming Wind Power Plants, 2015 .......... 160
6.9.7 Wind Power Market, India, Average Turbine Size, 2006–2020 ..................................... 161
6.9.8 Wind Power Market, India, Turbine Market Share, 2014 ............................................... 163
6.9.9 Wind Power Market, India, Levelized Cost of Electricity, 2014–2025 ............................ 165
6.9.10 Wind Power Market, India, Average Price and Market Size, 2014–2025 ....................... 167
7 Wind Power Market, Europe ..................................................................................................... 170
7.1 Wind Power Market, Europe, Overview .............................................................................. 170
7.2 Wind Power Market, Europe, Installed Capacity, 2007–2025 ............................................. 170
7.3 Wind Power Market, Europe, Cumulative Onshore and Offshore Installed Capacity, 2007–
2025 ................................................................................................................................... 172
7.4 Wind Power Market, Europe, Cumulative Installed Capacity Share by Country, 2014 ........ 174
7.5 Wind Power Market, Europe, Power Generation, 2007–2025 ............................................. 175
7.6 Wind Power Market, Europe, Onshore and Offshore Power Generation ............................. 177
7.7 Wind Power Market, Europe, Average Turbine Size, 2006–2020 ....................................... 179
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ANALYSIS TO 2025
7.8 Wind Power Market, UK ..................................................................................................... 181
7.8.1 Wind Power Market, UK, Overview ............................................................................... 181
7.8.2 Wind Power Market, UK, Installed Capacity, 2007–2025 .............................................. 182
7.8.3 Wind Power Market, UK, Cumulative Onshore and Offshore Installed Capacity, 2007–
2025 ............................................................................................................................. 184
7.8.4 Wind Power Market, UK, Power Generation, 2007–2025 .............................................. 187
7.8.5 Wind Power Market, UK, Onshore and Offshore Power Generation, 2007–2025 .......... 189
7.8.6 Wind Power Market, UK, Top Active and Upcoming Wind Power Plants, 2015 ............. 191
7.8.7 Wind Power Market, UK, Average Turbine Size, 2006–2020 ........................................ 192
7.8.8 Wind Power Market, UK, Turbine Market Share, 2014 .................................................. 194
7.8.9 Wind Power Market, UK, Onshore Levelized Cost of Electricity, 2014–2025 ................ 195
7.8.10 Wind Power Market, UK, Offshore Levelized Cost of Electricity, 2014–2025 ................ 197
7.8.11 Wind Power Market, UK, Average Price and Market Size, 2014–2025 ......................... 199
7.9 Wind Power Market, Germany ............................................................................................ 201
7.9.1 Wind Power Market, Germany, Overview ..................................................................... 201
7.9.2 Wind Power Market, Germany, Installed Capacity and Generation, 2007–2025 ........... 202
7.9.3 Wind Power Market, Germany, Cumulative Onshore and Offshore Installed Capacity,
2007–2025.................................................................................................................... 204
7.9.4 Wind Power Market, Germany, Power Generation, 2007–2025 .................................... 206
7.9.5 Wind Power Market, Germany, Onshore and Offshore Power Generation, 2007–2025 208
7.9.6 Wind Power Market, Germany, Top Active and Upcoming Wind Power Plants, 2015 ... 211
7.9.7 Wind Power Market, Germany, Average Turbine Size, 2006–2025............................... 212
7.9.8 Wind Power Market, Germany, Turbine Market Share, 2014 ........................................ 213
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WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
7.9.9 Wind Power Market, Germany, Onshore Levelized Cost of Electricity, 2014–2025 ....... 215
7.9.10 Wind Power Market, Germany, Offshore Levelized Cost of Electricity, 2014–2025 ....... 217
7.9.11 Wind Power Market, Germany, Average Price and Market Size, 2014–2025 ................ 219
8 Wind Power Market, Middle East and Africa ............................................................................. 222
8.1 Wind Power Market, Middle East and Africa, Overview ...................................................... 222
8.2 Wind Power Market, Middle East and Africa, Installed Capacity, 2007–2025...................... 222
8.3 Wind Power Market, Middle East and Africa, Installed Capacity by Country, 2014 ............. 224
8.4 Wind Power Market, Middle East and Africa, Power Generation, 2007–2025 ..................... 225
8.5 Wind Power Market, Middle East and Africa, Average Turbine Size, 2006–2020................ 227
8.6 Wind Power Market, South Africa ....................................................................................... 229
8.6.1 Wind Power Market, South Africa, Overview ................................................................. 229
8.6.2 Wind Power Market, South Africa, Installed Capacity, 2007–2025 ................................ 230
8.6.3 Wind Power Market, South Africa, Power Generation, 2007–2025 ............................... 232
8.6.4 Wind Power Market, South Africa, Top Active and Upcoming Wind Power Plants, 2015
234
8.6.5 Wind Power Market, South Africa, Average Turbine Size, 2006–2020 .......................... 235
8.6.6 Wind Power Market, South Africa, Turbine Market Share, 2014 ................................... 236
8.6.7 Wind Power Market, South Africa, Levelized Cost of Electricity, 2014–2025................. 237
8.6.8 Wind Power Market, South Africa, Average Price and Market Size, 2014–2025 ........... 239
9 Appendix .................................................................................................................................. 242
9.1 Abbreviations...................................................................................................................... 242
9.2 Research Methodology ....................................................................................................... 243
9.2.1 Report Coverage .......................................................................................................... 243
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WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
9.2.2 Secondary Research .................................................................................................... 244
9.2.3 Primary Research ......................................................................................................... 244
9.2.4 Market Estimates and Assumptions .............................................................................. 245
9.3 Disclaimer .......................................................................................................................... 245
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WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
1.1 List of Tables
Table 1: Wind Power Market, Global, Installed Capacity (GW) and Growth (%), 2007–2025 ...................... 29
Table 2: Wind Power Market, Global, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–
2025............................................................................................................................................ 31
Table 3: Wind Power Market, Global, Cumulative Installed Capacity by Country (%), 2007–2025 .............. 32
Table 4: Wind Power Market, Global, Power Generation (TWh) and Growth (%), 2007–2025 .................... 34
Table 5: Wind Power Market, Onshore and Offshore Power Generation (TWh), 2007–2025 ...................... 36
Table 6: Wind Power Market, Global, Wind Farm Capital Expenditure (%), 2014 ....................................... 38
Table 7: Wind Power Market, Global, Major Turbine Component Share in Total Turbine Cost (%), 2014 ... 39
Table 8: Wind Power Market, Global, Market Size ($bn) and Average Price ($/kW), 2014–2025 ................ 43
Table 9: Wind Power Market, Global, Average Turbine Size (MW), 2006–2020 ......................................... 45
Table 10: Wind Power Market, Global, Turbine Market Share (%), 2014...................................................... 46
Table 11: Wind Power Market, North America, Installed Capacity (GW) and Growth (%), 2007–2025 .......... 53
Table 12: Wind Power Market, North America, Cumulative Onshore and Offshore Installed Capacity (GW),
2007–2025 .................................................................................................................................. 55
Table 13: Wind Power Market, North America, Cumulative Installed Capacity by Country (%), 2014 ........... 56
Table 14: Wind Power Market, North America, Annual Power Generation (TWh) and Growth (%), 2014–2025
................................................................................................................................................... 58
Table 15: Wind Power Market, North America, Onshore and Offshore Power Generation (TWh), 2007–2025
................................................................................................................................................... 60
Table 16: Wind Power Market, North America, Average Turbine Size (MW), 2006–2020 ............................. 62
Table 17: Wind Power Market, US, Installed Capacity (GW) and Growth (%), 2007–2025 ........................... 65
Table 18: Wind Power Market, US, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025
................................................................................................................................................... 67
Table 19: Wind Power Market, US, Annual Power Generation (TWh) and Growth (%), 2007–2025 ............. 69
Table 20: Wind Power Market, Onshore and Offshore Power Generation (TWh), 2007–2025 ...................... 71
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WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
Table 21: Wind Power Market, US, Top 10 Active Wind Power Plants, 2015 ............................................... 72
Table 22: Wind Power Market, US, Top 10 Upcoming Wind Power Plants, 2015 ......................................... 72
Table 23: Wind Power Market, US, Average Turbine Size (MW), 2006–2020 .............................................. 74
Table 24: Wind Power Market, US, Turbine Market Share (%), 2014 ........................................................... 75
Table 25: Onshore Wind Power Market, The US, Assumptions for Levelized Cost of Electricity Calculation,
2014–2025 .................................................................................................................................. 76
Table 26: Onshore Wind Power Market, The US, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ... 78
Table 27: Wind Power Market, US, Market Size ($bn) and Average Price ($/kW), 2014–2025 ..................... 80
Table 28: Wind Power Market, Canada, Installed Capacity (GW) and Growth (%), 2007–2025 .................... 83
Table 29: Wind Power Market, Canada, Annual Power Generation (TWh) and Growth (%), 2014–2025 ...... 85
Table 30: Wind Power Market, Canada, Top 10 Active Wind Power Plants, 2015 ........................................ 86
Table 31: Wind Power Market, Canada, Top 10 Upcoming Wind Power Plants, 2015 .................................. 87
Table 32: Wind Power Market, Canada, Average Turbine Size (MW), 2006–2020 ....................................... 89
Table 33: Wind Power Market, Canada, Turbine Market Share, 2014 .......................................................... 90
Table 34: Wind Power Market, Canada, Assumptions for Levelized Cost of Electricity Calculation, 2014–
2025............................................................................................................................................ 91
Table 35: Wind Power Market, Canada, Levelized Cost of Electricity ($kWh), 2014–2025 ........................... 93
Table 36: Wind Power Market, Canada, Market Size ($bn) and Average Price ($/kW), 2014–2025.............. 95
Table 37: Wind Power Market, South America, Installed Capacity (GW) and Growth (%), 2007–2025 ......... 98
Table 38: Wind Power Market, South America, Cumulative Installed Capacity by Country (%), 2014 ........... 99
Table 39: Wind Power Market, South America, Annual Power Generation (TWh) and Growth (%), 2007–2025
................................................................................................................................................. 101
Table 40: Wind Power Market, South America, Average Turbine Size (MW), 2006–2020 .......................... 103
Table 41: Wind Power Market, Brazil, Installed Capacity (MW) and Growth (%), 2007–2025 ..................... 105
Table 42: Wind Power Market, Brazil, Annual Power Generation (GWh) and Growth (%), 2007–2025 ....... 107
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ANALYSIS TO 2025
Table 43: Wind Power Market, Brazil, Top 10 Active Wind Power Plants, 2015 ......................................... 108
Table 44: Wind Power Market, Brazil, Top 10 Upcoming Wind Power Plants, 2015 ................................... 109
Table 45: Wind Power Market, Brazil, Average Turbine Size (MW), 2006–2020 ........................................ 111
Table 46: Wind Power Market, Brazil, Turbine Market Share (%), 2014 ..................................................... 112
Table 47: Wind Power Market, Brazil, Assumptions for Levelized Cost of Electricity Calculation, 2014–2025
................................................................................................................................................. 113
Table 48: Wind Power Market, Brazil, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 .................. 114
Table 49: Wind Power Market, Brazil, Market Size ($bn) and Average Price ($/kW), 2014–2025 ............... 116
Table 50: Wind Power Market, Asia-Pacific, Installed Capacity (GW) and Growth(%), 2007–2025 ............. 119
Table 51: Wind Power Market, Asia-Pacific, Cumulative Onshore and Offshore Installed Capacity (GW),
2007–2025 ................................................................................................................................ 121
Table 52: Wind Power Market, Asia-Pacific, Cumulative Installed Capacity by Country (%), 2014.............. 122
Table 53: Wind Power Market, Asia-Pacific, Annual Power Generation (TWh) and Growth (%), 2007–2025
................................................................................................................................................. 124
Table 54: Wind Power Market, Asia-Pacific, Onshore and Offshore Power Generation (GW), 2007–2025 . 126
Table 55: Wind Power Market, Asia-Pacific, Average Turbine Size (MW), 2006–2020 ............................... 128
Table 56: Wind Power Market, China, Installed Capacity (MW) and Growth (%), 2007–2025 ..................... 131
Table 57: Wind Power Market, China, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–
2025.......................................................................................................................................... 133
Table 58: Wind Power Market, China, Annual Power Generation (TWh) and Growth (%), 2007–2025 ....... 135
Table 59: Wind Power Market, China, Annual Onshore and Offshore Power Generation (TWh), 2007–2025
................................................................................................................................................. 137
Table 60: Wind Power Market, China, Top 10 Active Wind Power Plants, 2015 ......................................... 138
Table 61: Wind Power Market, China, Top 10 Upcoming Wind Power Plants, 2015 ................................... 139
Table 62: Wind Power Market, China, Average Turbine Size (MW), 2006–2020 ........................................ 141
Table 63: Wind Power Market, China, Turbine Market Share (%), 2014 .................................................... 143
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Table 64: Onshore Wind Power Market, China, Assumptions for Levelized Cost of Electricity Calculation,
2014–2025 ................................................................................................................................ 145
Table 65: Onshore Wind Power Market, China, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ... 145
Table 66: Offshore Wind Power Market, China, Assumptions for Levelized Cost of Electricity Calculation,
2014–2025 ................................................................................................................................ 146
Table 67: Offshore Wind Power Market, China, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ... 148
Table 68: Wind Power Market, China, Market Size ($bn) and Average Price ($/kW), 2014–2025 ............... 150
Table 69: Wind Power Market, India, Installed Capacity (GW) and Growth (%), 2007–2025 ...................... 153
Table 70: Wind Power Market, India, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025
................................................................................................................................................. 155
Table 71: Wind Power Market, India, Annual Power Generation (GWh) and Growth (%), 2007–2025 ........ 157
Table 72: Wind Power Market, India, Annual Onshore and Offshore Power Generation (GWh), 2007–2025
................................................................................................................................................. 159
Table 73: Wind Power Market, India, Top 10 Active Wind Power Plants, 2015 .......................................... 160
Table 74: Wind Power Market, India, Top 10 Upcoming Wind Power Plants, 2015 .................................... 161
Table 75: Wind Power Market, India, Average Turbine Size (MW), 2006–2020 ......................................... 163
Table 76: Wind Power Market, India, Turbine Market Share (%), 2014 ...................................................... 164
Table 77: Onshore Wind Power Market, India, Assumptions for Levelized Cost of Electricity Calculation,
2014–2025 ................................................................................................................................ 165
Table 78: Onshore Wind Power Market, India, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ..... 167
Table 79: Wind Power Market, India, Market Size ($bn) and Average Price ($/kW), 2014–2025 ................ 169
Table 80: Wind Power Market, Europe, Installed Capacity (GW) and Growth (%), 2007–2025 ................... 172
Table 81: Wind Power Market, Europe, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–
2025.......................................................................................................................................... 174
Table 82: Wind Power Market, Europe, Cumulative Installed Capacity Share by Country (%), 2014 .......... 175
Table 83: Wind Power Market, Europe, Annual Power Generation (TWh) and Growth (%), 2007–2025 ..... 177
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ANALYSIS TO 2025
Table 84: Wind Power Market, Europe, Annual Onshore and Offshore Power Generation (TWh), 2007–2025
................................................................................................................................................. 179
Table 85: Wind Power Market, Europe, Average Turbine Size (MW), 2006–2020 ...................................... 181
Table 86: Wind Power Market, UK, Installed Capacity (GW) and Growth (%), 2007–2025 ......................... 184
Table 87: Wind Power Market, UK, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025
................................................................................................................................................. 186
Table 88: Wind Power Market, Global, Annual Power Generation (TWh) and Growth (%), 2014–2025 ...... 188
Table 89: Wind Power Market, UK, Annual Power Generation (TWh), 2007–2025 ..................................... 190
Table 90: Wind Power Market, UK, Top 10 Active Wind Power Plants, 2015 ............................................. 191
Table 91: Wind Power Market, UK, Top 10 Upcoming Wind Power Plants, 2015 ....................................... 192
Table 92: Wind Power Market, UK, Average Turbine Size (MW), 2006–2020 ............................................ 194
Table 93: Wind Power Market, UK, Turbine Market Share (%), 2014 ......................................................... 195
Table 94: Onshore Wind Power Market, UK, Assumptions for Levelized Cost of Electricity Calculation, 2014–
2025.......................................................................................................................................... 196
Table 95: Onshore Wind Power Market, UK, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ........ 197
Table 96: Offshore Wind Power Market, UK, Assumptions for Levelized Cost of Electricity Calculation, 2014–
2025.......................................................................................................................................... 197
Table 97: Offshore Wind Power Market, UK, Levelized Cost of Electricity ($/kWh), 2014–2025 ................. 199
Table 98: Wind Power Market, UK, Market Size ($bn) and Average Price ($/kW), 2014–2025 ................... 201
Table 99: Wind Power Market, Germany, Installed Capacity (GW) and Growth (%), 2007–2025 ................ 204
Table 100: Wind Power Market, Germany, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–
2025.......................................................................................................................................... 206
Table 101: Wind Power Market, Germany, Annual Power Generation (TWh) and Growth (%), 2007–2025 .. 208
Table 102: Wind Power Market, Germany, Annual Onshore and Offshore Power Generation (TWh), 2007–
2025.......................................................................................................................................... 210
Table 103: Wind Power Market, Germany, Top 10 Active Wind Power Plants, 2015 .................................... 211
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ANALYSIS TO 2025
Table 104: Wind Power Market, Germany, Top 10 Upcoming Wind Power Plants, 2015.............................. 211
Table 105: Wind Power Market, Germany, Average Turbine Size (MW), 2006–2020 ................................... 213
Table 106: Wind Power Market, Germany, Turbine Market Share (%), 2014 ............................................... 214
Table 107: Onshore Wind Power Market, Germany, Assumptions for Levelized Cost of Electricity Calculation,
2014–2025 ................................................................................................................................ 215
Table 108: Onshore Wind Power Market, Germany, Levelized Cost of Electricity ($/kWh), 2014–2025 ........ 217
Table 109: Offshore Wind Power Market, Germany, Assumptions for Levelized Cost of Electricity Calculation,
2014–2025 ................................................................................................................................ 218
Table 110: Offshore Wind Power Market, Germany, Levelized Cost of Electricity (kW), 2014–2025............. 219
Table 111: Wind Power Market, Germany, Market Size ($bn) and Average Price ($kW), 2014–2025 .......... 221
Table 112: Wind Power Market, Middle East and Africa, Installed Capacity (GW) and Growth (%), 2007–2025
................................................................................................................................................. 224
Table 113: Wind Power Market, Middle East and Africa, Annual Power Generation (TWh) and Growth (%),
2007–2025 ................................................................................................................................ 227
Table 114: Wind Power Market, Middle East and Africa, Average Turbine Size, 2006–2020 ........................ 229
Table 115: Wind Power Market, South Africa, Installed Capacity (MW) and Growth (%), 2007–2025 ........... 231
Table 116: Wind Power Market, South Africa, Annual Power Generation (GWh) and Growth (%), 2007–2025
................................................................................................................................................. 233
Table 117: Wind Power Market, South Africa, Top Active Wind Power Plants, 2015 .................................... 234
Table 118: Wind Power Market, South Africa, Top 10 Upcoming Wind Power Plants, 2015 ......................... 234
Table 119: Wind Power Market, South Africa, Average Turbine Size (MW), 2006–2020 .............................. 236
Table 120: Wind Power Market, South Africa, Turbine Market Share (%), 2014 ........................................... 237
Table 121: Wind Power Market, South Africa, Assumptions for Levelized Cost of Electricity Calculation, 2014–
2025.......................................................................................................................................... 238
Table 122: Wind Power Market, South Africa, Levelized Cost of Electricity ($/kWh), 2014–2025 ................. 239
Table 123: Wind Power Market, South Africa, Market Size ($bn) and Average Price ($/kW), 2014–2025 ..... 241
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ANALYSIS TO 2025
Table 124: Abbreviations ............................................................................................................................ 242
1.2 List of Figures
Figure 1: Wind Power Market, Global, Installed Capacity (GW) and Growth (%), 2007–2025 ...................... 28
Figure 2: Wind Power Market, Global, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–
2025............................................................................................................................................ 30
Figure 3: Wind Power Market, Global, Cumulative Installed Capacity by Country (%), 2014 ........................ 32
Figure 4: Wind Power Market, Global, Power Generation (TWh) and Growth (%), 2007–2025 .................... 33
Figure 5: Wind Power Market, Global, Onshore and Offshore Power Generation (TWh), 2007–2025 .......... 35
Figure 6: Wind Power Market, Global, Value Chain Activities...................................................................... 37
Figure 7: Wind Power Market, Global, CAPEX in Leading Markets ($/kW), 2014 ........................................ 41
Figure 8: Wind Power Market, Global, Market Size ($bn) and Average Price ($/kW), 2014–2025 ................ 42
Figure 9: Wind Power Market, Global, Average Turbine Size (MW), 2006–2020 ......................................... 44
Figure 10: Wind Power Market, Global, Turbine Market Share (%), 2014...................................................... 46
Figure 11: Wind Power Market, North America, Installed Capacity (GW) and Growth (%), 2007–2025 .......... 52
Figure 12: Wind Power Market, North America, Cumulative Onshore and Offshore Installed Capacity (GW),
2007–2025 .................................................................................................................................. 54
Figure 13: Wind Power Market, North America, Cumulative Installed Capacity by Country (%), 2014 ........... 56
Figure 14: Wind Power Market, North America, Annual Power Generation (TWh) and Growth (%), 2007–2025
................................................................................................................................................... 57
Figure 15: Wind Power Market, North America, Onshore and Offshore Power Generation (TWh), 2007–2025
................................................................................................................................................... 59
Figure 16: Wind Power Market, North America, Average Turbine Size (MW), 2006–2020 ............................. 61
Figure 17: Wind Power Market, US, Installed Capacity (GW) and Growth (%), 2007–2025 ........................... 64
Figure 18: Wind Power Market, US, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025
................................................................................................................................................... 66
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Figure 19: Wind Power Market, US, Annual Power Generation (TWh) and Growth (%), 2007–2025 ............. 68
Figure 20: Wind Power Market, US, Onshore and Offshore Power Generation (TWh), 2007–2025 ............... 70
Figure 21: Wind Power Market, US, Average Turbine Size (MW), 2006–2020 .............................................. 73
Figure 22: Wind Power Market, US, Turbine Market Share (%), 2014 ........................................................... 75
Figure 23: Onshore Wind Power Market, The US, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ... 77
Figure 24: Wind Power Market, US, Market Size ($bn) and Average Price ($/kW), 2014–2025 ..................... 79
Figure 25: Wind Power Market, Canada, Installed Capacity (GW) and Growth (%), 2007–2025 .................... 82
Figure 26: Wind Power Market, Canada, Annual Power Generation (TWh) and Growth (%), 2007–2025 ...... 84
Figure 27: Wind Power Market, Canada, Average Turbine Size (MW), 2006–2020 ....................................... 88
Figure 28: Wind Power Market, Canada, Turbine Market Share (%), 2014 ................................................... 90
Figure 29: Wind Power Market, Canada, Levelized Cost of Electricity ($/kW), 2014–2025 ............................ 92
Figure 30: Wind Power Market, Canada, Market Size ($bn) and Average Price ($/kW), 2014–2025.............. 94
Figure 31: Wind Power Market, South America, Installed Capacity (GW) and Growth (%), 2007–2025 ......... 97
Figure 32: Wind Power Market, South America, Cumulative Installed Capacity by Country (%), 2014 ........... 99
Figure 33: Wind Power Market, South America, Annual Power Generation (TWh) and Growth (%), 2007–2025
................................................................................................................................................. 100
Figure 34: Wind Power Market, South America, Average Turbine Size (MW), 2006–2020 .......................... 102
Figure 35: Wind Power Market, Brazil, Installed Capacity (MW) and Growth (%), 2007–2025 ..................... 104
Figure 36: Wind Power Market, Brazil, Annual Power Generation (GWh) and Growth (%), 2007–2025 ....... 106
Figure 37: Wind Power Market, Brazil, Average Turbine Size (MW), 2006–2020 ........................................ 110
Figure 38: Wind Power Market, Brazil, Turbine Market Share (%), 2014 ..................................................... 112
Figure 39: Wind Power Market, Brazil, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 .................. 113
Figure 40: Wind Power Market, Brazil, Market Size ($bn) and Average Price ($/kW), 2014–2025 ............... 115
Figure 41: Wind Power Market, Asia-Pacific, Installed Capacity (GW) and Growth (%), 2007–2025 ............ 118
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ANALYSIS TO 2025
Figure 42: Wind Power Market, Asia-Pacific, Cumulative Onshore and Offshore Installed Capacity (GW),
2007–2025 ................................................................................................................................ 120
Figure 43: Wind Power Market, Asia-Pacific, Cumulative Installed Capacity by Country (%), 2014.............. 122
Figure 44: Wind Power Market, Asia-Pacific, Annual Power Generation (TWh) and Growth (%), 2007–2025
................................................................................................................................................. 123
Figure 45: Wind Power Market, Asia-Pacific, Onshore and Offshore Power Generation (TWh), 2007–2025 125
Figure 46: Wind Power Market, Asia-Pacific, Average Turbine Size (MW), 2006–2020 ............................... 127
Figure 47: Wind Power Market, China, Installed Capacity (MW) and Growth (%), 2007–2025 ..................... 130
Figure 48: Wind Power Market, China, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–
2025.......................................................................................................................................... 132
Figure 49: Wind Power Market, China, Annual Power Generation (TWh) and Growth (%), 2007–2025 ....... 134
Figure 50: Wind Power Market, China, Annual Onshore and Offshore Power Generation (GWh), 2007–2025
................................................................................................................................................. 136
Figure 51: Wind Power Market, China, Average Turbine Size (MW), 2006–2020 ........................................ 140
Figure 52: Wind Power Market, China, Turbine Market Share (%), 2014 .................................................... 142
Figure 53: Onshore Wind Power Market, China, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ... 144
Figure 54: Offshore Wind Power Market, China, Levelized Cost of Electricity ($/kWh), 2014–2025 ............. 147
Figure 55: Wind Power Market, China, Market Size ($bn) and Average Price ($/kW), 2014–2025 ............... 149
Figure 56: Wind Power Market, India, Installed Capacity (GW) and Growth (%), 2007–2025 ...................... 152
Figure 57: Wind Power Market, India, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025
................................................................................................................................................. 154
Figure 58: Wind Power Market, India, Annual Power Generation (GWh) and Growth (%), 2007–2025 ........ 156
Figure 59: Wind Power Market, India, Annual Onshore and Offshore Power Generation (GWh), 2007–2025
................................................................................................................................................. 158
Figure 60: Wind Power Market, India, Average Turbine Size (MW), 2006–2020 ......................................... 162
Figure 61: Wind Power Market, India, Turbine Market Share (%), 2014 ...................................................... 164
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ANALYSIS TO 2025
Figure 62: Onshore Wind Power Market, India, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ..... 166
Figure 63: Wind Power Market, India, Market Size($bn) and Average Price ($/kW), 2014–2025 ................. 168
Figure 64: Wind Power Market, Europe, Installed Capacity (GW) and Growth (%), 2007–2025 ................... 171
Figure 65: Wind Power Market, Europe, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–
2025.......................................................................................................................................... 173
Figure 66: Wind Power Market, Europe, Cumulative Installed Capacity Share by Country (%), 2014 .......... 175
Figure 67: Wind Power Market, Europe, Annual Power Generation (TWh) and Growth (%), 2007–2025 ..... 176
Figure 68: Wind Power Market, Europe, Annual Onshore and Offshore Power Generation (TWh), 2007–2025
................................................................................................................................................. 178
Figure 69: Wind Power Market, Europe, Average Turbine Size (MW), 2006–2020 ...................................... 180
Figure 70: Wind Power Market, UK, Installed Capacity (GW) and Growth (%), 2007–2025 ......................... 183
Figure 71: Wind Power Market, UK, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025
................................................................................................................................................. 185
Figure 72: Wind Power Market, UK, Annual Power Generation (TWh) and Growth (%), 2007–2025 ........... 187
Figure 73: Wind Power Market, UK, Annual Power Generation (TWh), 2007–2025 ..................................... 189
Figure 74: Wind Power Market, UK, Average Turbine Size (MW), 2006–2020 ............................................ 193
Figure 75: Wind Power Market, UK, Turbine Market Share (%), 2014 ......................................................... 195
Figure 76: Onshore Wind Power Market, UK, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ........ 196
Figure 77: Offshore Wind Power Market, UK, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ........ 198
Figure 78: Wind Power Market, UK, Market Size ($bn) and Average Price ($/kW), 2014–2025 ................... 200
Figure 79: Wind Power Market, Germany, Installed Capacity (GW) and Growth (%), 2007–2025 ................ 203
Figure 80: Wind Power Market, Germany, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–
2025.......................................................................................................................................... 205
Figure 81: Wind Power Market, Germany, Annual Power Generation (TWh) and Growth (%), 2007–2025 .. 207
Figure 82: Wind Power Market, Germany, Annual Onshore and Offshore Power Generation (TWh), 2007–
2025.......................................................................................................................................... 209
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Figure 83: Wind Power Market, Germany, Average Turbine Size (MW), 2006–2020 ................................... 212
Figure 84: Wind Power Market, Germany, Turbine Market Share (%), 2014 ............................................... 214
Figure 85: Onshore Wind Power Market, Germany, Levelized Cost of Electricity ($/kWh), 2014–2025 ........ 216
Figure 86: Offshore Wind Power Market, Germany, Levelized Cost of Electricity ($/kWh), 2014–2025 ........ 218
Figure 87: Wind Power Market, Germany, Market Size ($bn) and Average Price (kW), 2014–2025 ............ 220
Figure 88: Wind Power Market, Middle East and Africa, Installed Capacity (GW) and Growth (%), 2007–2025
................................................................................................................................................. 223
Figure 89: Wind Power Market, Middle East and Africa, Installed Capacity by Country (%), 2014 ............... 225
Figure 90: Wind Power Market, Middle East and Africa, Annual Power Generation (TWh) and Growth (%),
2007–2025 ................................................................................................................................ 226
Figure 91: Wind Power Market, Middle East and Africa, Average Turbine Size (MW), 2006–2020 .............. 228
Figure 92: Wind Power Market, South Africa, Installed Capacity (MW) and Growth (%), 2007–2025 ........... 230
Figure 93: Wind Power Market, South Africa, Annual Power Generation (GWh), 2007–2025 ...................... 232
Figure 94: Wind Power Market, South Africa, Average Turbine Size (MW), 2006–2020 .............................. 235
Figure 95: Wind Power Market, South Africa, Turbine Market Share (%), 2014 ........................................... 237
Figure 96: Wind Power Market, South Africa, Levelized Cost of Electricity ($/kWh), 2014–2025 ................. 238
Figure 97: Wind Power Market, South Africa, Market Size ($bn) and Average Price ($/kW), 2014–2025 ..... 240
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ANALYSIS TO 2025
Introduction
2 Introduction
2.1 Wind Power Market, Technology Definition
Wind power is an alternative source of energy generated from the flow of air currents through a
wind turbine. It is considered a clean source as it does not emit carbon.
A wind turbine harnesses kinetic energy in the wind and converts it into electricity for residential,
commercial and industrial purposes. A wind farm comprises a group of wind turbines (potentially
hundreds) in the same location, connected to an electric power transmission system.
Wind power is classified as either onshore or offshore depending on whether the wind farm is
located on land or in a large body of water.
2.2 Wind Power Market, Technology Overview
A wind turbine is a device that converts kinetic energy from wind into electricity, also known as a
wind generator, Wind Turbine Generator (WTG), wind power unit, wind energy converter, or
aerogenerator.
Wind turbines are broadly classified into two types according to their design:
Horizontal Axis Wind Turbine (HAWT)
Vertical Axis Wind Turbine (VAWT)
The HAWT is the most common and also the simplest type of wind turbine. Most operate on a
horizontal axis with three blades that are attached to a rotor, from which the electricity is transferred
to a generator though a gearbox, both of which are contained in a nacelle. Some turbines do not
have gearboxes and instead transfer electricity directly to the generator. Electricity is then
transmitted to the transformer and fed into the grid through transmission lines, resulting in efficient
and cost-effective turbine technology.
The VAWT, in which the main rotor shaft is arranged vertically, is less popular due to its lower
efficiency, meaning that it is largely sourced by individual inventors.
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WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
Introduction
2.4 Report Guidance
The report begins with an executive summary, which gives a snapshot of wind power and the
wind power market.
The Introduction section provides a brief overview of wind power technology, covering the
different types of turbines.
The Wind Power Market, Global section details global wind power developments during the
2007–2014 historic period, and expected market trends during the 2015–2025 forecast period.
It starts with an overview of the global market, covering parameters such as market size, power
capacity and generation data, cost analysis, market size and market share. Average turbine
size is provided for the 2006–2025 period.
Section four gives details on the North American market. Regional average turbine sizes,
average capex, market size, total wind installed capacity and generation along with split by
onshore and offshore types of installation are provided. The US and Canada are covered
under this section.
Section five gives details on the Europe market. Regional average turbine sizes, average
capex, market size, total wind installed capacity and generation along with split by onshore and
offshore types of installation are provided. Germany and the UK are covered in this section.
Section six gives details on the Asia-Pacific market. Regional average turbine sizes, average
capex, market size, total wind installed capacity and generation along with split by onshore and
offshore types of installation are provided. China and India are covered in this section.
Section seven gives details on the South America market. Regional average turbine sizes,
average capex, market size, total wind installed capacity and generation along with split by
onshore and offshore types of installation are provided. Brazil is covered in this section.
Section eight gives details on the Middle East and Africa market. Regional average turbine
sizes, average capex, market size, total wind installed capacity and generation along with split
by onshore and offshore types of installation are provided. South Africa is covered in this
section.
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Wind Power Market, Global
WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
3 Wind Power Market, Global
3.1 Wind Power Market, Global, Overview
Wind is one the fastest growing energy sources in the world. From an emerging fuel source XX
years ago, it has transformed into a commercial electricity-generating technology in more than XX
countries. Technological developments have paved the way for more effective and reliable
equipment and machinery, making wind one of the fastest-growing energy sources globally. The
exponential growth of the wind energy market is fueled by depleting fossil fuel reserves, the
declining cost of wind power generation, and growing environmental awareness, and is being
supported by financial incentives from many governments.
The global wind power market consists primarily of onshore power capacity. However, a great deal
of potential for offshore wind installations exists. If the offshore market is properly developed, it has
the potential to meet seven times the energy demands of Europe and four times that of the US.
Offshore wind technology is currently at a nascent stage of development; construction costs are
high and more advanced materials and equipment are required. Despite this, many governments
worldwide have incorporated offshore wind in their energy plans.
More than XX% of the global offshore wind power is installed in the water bodies of Northern
Europe, and this has helped the region to keep pace with its binding targets of deriving XX% of its
energy consumption from renewable energy sources.
3.2 Wind Power Market, Global, Installed Capacity, 2007–2025
The global wind power market has grown rapidly in the past few years, with annual installations
increasing from XX GW in 2008 to XX GW in 2014. Global installed wind capacity has almost
doubled every three years since 2001. Growth in the installed capacity during the historical period
was driven largely by the favorable government policies for wind power in major wind power
countries such as China, the US, Germany, Spain, the UK and India.
The outlook for the wind energy sector appears bright, although future growth is expected to slow
during the forecast period. This is mainly due to continuing uncertainties in the US market and the
maturing European market. Wind installations will continue to expand in the forecast period though,
mainly driven by the Asia-Pacific (APAC) region. APAC was the fastest growing wind market in
2014, and will continue as such in the forecast period due to large-scale installations in China
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Wind Power Market, Global
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ANALYSIS TO 2025
(although there will be slowdown in comparison to the historical period) and sustainable future
growth in India, Australia, Japan, South Korea, the Philippines, Thailand and Taiwan. Wind
installations will also gain momentum in the South and Central America region, with countries such
as Argentina, Brazil, Chile, Columbia and Mexico adding up XX GW during 2015–2025. The Middle
East and Africa region, which is presently at a nascent stage of wind market development, will be
the other significant contributor to capacity. South Africa, Morocco and Egypt have substantial wind
resources, indicating strong growth in the forecast period. Against this backdrop, the cumulative
global wind installed capacity will grow to XX GW by 2025, at a Compound Annual Growth Rate
(CAGR) of XX%.
Figure 1: Wind Power Market, Global, Installed Capacity (GW) and Growth (%), 2007–2025
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
YoY
gro
wth
(%
)
Inst
alle
d ca
paci
ty (G
W)
Cumulative installed capacity Annual installed capacity YoY growth
Source: GlobalData, Capacity and Generation Database [Accessed on April 22, 2015] YoY: Year-on-Year
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WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
Wind Power Market, North America
4.4 Wind Power Market, North America, Cumulative Installed Capacity by Country, 2014
The US accounted for an XX% share of North American installed wind capacity in 2014, which is
expected to reduce to XX% by 2025 as Canada and Mexico will both increase their installed
capacity. Canada accounted for XX% of the total wind capacity which would increase to XX% by
2025 and Mexico’s installed capacity share would increase from XX% in 2014 to XX% by 2025.
Figure 13: Wind Power Market, North America, Cumulative Installed Capacity by Country (%), 2014
US
CanadaMexico
Source: GlobalData, Capacity and Generation Database [Accessed on April 22, 2015]
Table 13: Wind Power Market, North America, Cumulative Installed Capacity by Country (%), 2014 Country Share
US
Canada
Mexico
Source: GlobalData, Capacity and Generation Database [Accessed on April 22, 2015]
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Appendix
WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
9 Appendix
9.1 Abbreviations
Table 124: Abbreviations Abbreviation Definition
AC Alternating Current
APAC Asia-Pacific
CAGR Compound Annual Growth Rate
capex capital expenditure
CUF Capacity Utilization Factor
DC Direct Current
DR Depreciation Rate
EEG Erneuerbare Energie Gesetz
EPA Environmental Protection Agency
EPC Engineering, Procurement and Construction
FiT Feed-in Tariff
FTC Federal Tax Credits
GBI Generation-Based Incentives
GW Gigawatt
HAWT Horizontal Axis Wind Turbine
kW kilowatt
kWh kilowatt-hour
LCOE Levelized Cost of Electricity
LCPD Large Combustion Plant Directive
MW Megawatt
MWh Megawatt-hour
PTC Production Tax Credit
RPS Renewable Portfolio Standards
TWh Terawatt-hour
VAWT Vertical Axis Wind Turbine
WTG Wind Turbine Generator
YoY Year-on-Year
Source: GlobalData
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Appendix
WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
9.2 Research Methodology
GlobalData’s dedicated research and analysis teams consist of experienced professionals with
advanced statistical expertise and marketing, market research and consulting backgrounds in the
energy industry.
GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and
Strategic and Competitive Intelligence Professionals (www.scip.org).
All of GlobalData’s databases are continuously updated and revised. The following methodology
has been followed for the collection and analysis of data presented in this report.
9.2.1 Report Coverage
The report includes:
The report provides information at global level. The regions covered in the report are Asia-
Pacific, South America, Europe, Middle East and Africa, and North America. The key countries
covered in the report are China, US, UK, Germany, India, Canada, South Africa and Brazil.
Historic and forecasts for cumulative and annual wind power capacity installed and power
generation during 2007–2025. Installed capacity and power generation has been provided by
onshore and offshore type as well. This has been provided at global level, regional level and
for all the key countries covered in the report.
Average turbine size for onshore and offshore type of installation for 2006–2020, along with the
major turbine manufacturers in 2014 has been provided for key countries and at the global
level. Average turbine size forecast has been provided at regional level as well.
Coverage of the key growth drivers and challenges related to the global wind power market.
Capital cost and market size of the wind power installation is provided at key country and
global level. Along with this, the top active and upcoming wind power plants are provided.
Wind Power Market, Update 2015 – Global Market Size, Average Price, Turbine Market Share and Key Country Analysis to 2025 244 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
Appendix
WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
9.2.2 Secondary Research
The research process begins with extensive secondary research using GlobalData's proprietary
databases and external sources.
Investment estimates and market growth rates are determined by taking the following into
consideration:
Company websites: whitepapers, press releases, news and annual reports
Industry trade journals, magazines and other literature: news articles and research studies
Industry associations, energy agencies and other government bodies
Internal proprietary databases such as our alternative energy eTrack and power eTrack
Information related to average price of towers, production capacity and actual production of tower
manufacturers individually and collectively in each country, has been obtained through extensive
secondary research.
9.2.3 Primary Research
GlobalData conducts extensive primary interviews with industry participants and commentators in
order to validate its data and analysis.
A typical research interview fulfills the following functions:
Obtains the interviewee’s perspective on the market size, growth trends, competitive landscape
and future outlook
Validates secondary research findings
Further develop the analysis team’s expertise and market understanding
Key representatives of independent tower and WTG manufacturing companies have been
interviewed in order to perform the cost analysis of wind turbine towers and also to validate the
data and analysis of average price, production capacity and production numbers of companies that
have further been used in calculating market shares.
Wind Power Market, Update 2015 – Global Market Size, Average Price, Turbine Market Share and Key Country Analysis to 2025 245 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.
Appendix
WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY
ANALYSIS TO 2025
9.2.4 Market Estimates and Assumptions
The following are the data points that are estimated or sourced through primary and secondary
research.
The installed capacities have been taken from GlobalData’s proprietary database, which is
continuously updated with historic, current and forecast numbers. These updates are made through
extensive primary and secondary research and by contacting several industry associations and
government energy agencies. The average turbine sizes are taken from GlobalData’s asset sheets,
which are lists of wind farms in all major countries with details of each wind farm.
9.3 Disclaimer
All Rights Reserved.
No part of this publication may be reproduced, stored in a retrieval system or transmitted in any
form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior
permission of the publisher, GlobalData.