Companies involved in the manufacturing and distribution of products related to wind energy are anticipating a banner year for 2009 as a new base of customers inherit the wind as their primary source of energy. But some manufacturers with an eye towards expanding market presence in the U.S. are waiting with baited breath. By early 2009, the U.S. will have inaugurated President Barack Obama who will be consumed with healing the nation from an economy in shambles. His actions could have a ripple effect on the spending intentions of businesses and consumers who are considering converting to renewable energy sources as a means to cut energy costs and help promote environmental reduction of greenhouse gas emissions. Obama said he would invest $15 billion a year in renewable energy sources to create five million new energy jobs through 2018. He also stated that he would emphasize a program to spend $150 billion over 10 years to develop renewable energy sources, like wind, and to encourage energy conservation.
SBI estimates that the total wind energy market in the U.S. is valued at $151.3 billion. The U.S. wind industry expanded rapidly in 2008 fueled by three key market drivers:
This report includes both primary and secondary research. Secondary research data have been obtained from government sources, trade association publications, business journals, and company literature. Statistical data are included for industry revenue, both globally and for the United States. Historical data are provided for the 2002 to 2008 time frame with projections of future sales through 2013. The base year for the report is 2008.
The report covers shipments, imports and exports, as well as the economic and market trends driving the wind power industry. It identifies key market trends and dynamics, and profiles major market players, outlining their strategies to maximize growth and profitability.
SBI’s research methodology for this report involved aggregating, synthesizing, and analyzing data from several sources, including the U.S. government and several third-party market research syndicated data suppliers. Historical data relating to the manufacturing and distribution of wind energy products in the U.S are culled from the U.S. Department of Commerce, the U.S. Census Bureau, and the Bureau of Labor Statistics. Analysis of these data, including market-level shipments, imports and exports provide the foundation for our projections of overall market size and growth during the next five years. Our projections also take into account data that indirectly affects the growth of the wind energy market, such as information provided by the U.S. Department of Energy, National Renewable Energy Laboratory, and the American Wind Energy Association.
The shipment value has been used to indicate the market supply of wind energy products, specifically products manufactured to develop wind energy turbines. Shipment statistics are derived from the U.S. Census of Manufacturers and the Annual Survey of Manufacturers, and are estimated and projected by SBI.
How You Will Benefit from this Report
This report is a “must read” for manufacturers of wind energy turbines and its associated components, such as gearboxes, measuring devices, towers, nacelles, and blades. These companies will understand the current market size of wind energy installations globally and the U.S.’s position among other nations. The report examines the states with the greatest domestic opportunities for wind energy expansion and looks at the growth potential for manufacturers of large-scale and small turbines for the consumer market. Manufacturers will find the report provides a thorough analysis of wind energy manufacturing and how companies are marketing their products to compete with other more popular energy sources.
This report will help:
Market Insights: A Selection From The Report
China and Spain are Global Leaders in Wind Power
Offshore Wind Energy Efforts Blow Strong
Wind Energy Market at Forefront of Renewable Energy Initiatives
New York, January 9, 2009 - Harnessing America’s renewable energy sources is a priority on President-elect Barack Obama’s political agenda, and American businesses and consumers are poised to follow his lead to make the U.S. a greener, more energy responsible nation. During a campaign speech, Obama declared his intentions to wean American off its dependence on Middle Eastern oil by investing $15 billion a year in renewable energy to create 5 million new energy jobs over the next decade.
Market research publisher SBI expects Obama’s commitment to long-term U.S. economic recovery will advance the development of alternative energies as a key factor. This will drive the already steadily strengthening wind energy market in 2009 and beyond.
The U.S. wind industry expanded rapidly in 2008, and in the all-new report Wind Power in the U.S. and the World, SBI estimates that the total wind energy market in the U.S. was valued at $151 billion. By 2013, SBI projects that the total U.S. market value for wind energy will reach an estimated $180 billion, representing a compounded annual growth rate of 3% for the five-year period starting in 2009.
“With oil prices and fossil fuel prices creeping higher again, and with federal support of alternative energy expansion programs, wind power is picking up momentum. But the market value of wind energy likely won’t appreciate to the full potential we expect until early 2012 when the U.S. can fully reap the rewards from today’s investments in wind farm developments nationwide,” says Shelley Carr, associate publisher for SBI.
Wind Power in the U.S. and the World identifies key dynamics and economic and market trends driving the wind power industry, and profiles major market players, outlining their strategies to maximize growth and profitability. The report also covers shipments, imports and exports, and provides historical data for 2002 through 2008, and forecast data from 2009 to 2013.
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