The Global Wind Turbine Market, 2nd Edition

 
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Published Nov 1, 2011 | 174 Pages | Pub ID: SB6459620

The Global Wind Turbine Market, 2nd Edition

The global wind turbine market experienced its first decline in over five years in 2010, dropping 15.9% to $42.3 billion as the pace of turbine installations in most countries slowed considerably. Total megawatts (MW) installed was down by 5.3% to 38,079 MW for 2010 and would have been much less if China had not taken a commanding lead in the market, installing almost half of all new global wind capacity during the year. The U.S., on the other hand, only installed half as much new capacity in 2010 as it did in 2009.

Despite continuing to be the largest wind turbine market for 2011, China's will no longer maintain its stratospheric growth in the market. China's wind turbine installations in 2011 will be 19,300 MW, just 2.0% more than in 2010. From a financial perspective the news is much worse, as still dropping turbine prices will force the Chinese wind turbine market down by 7.1% in 2011, a drop that will be only slightly recovered in 2012.

In the short term, curtailment of already installed wind systems because of inadequate transmission systems are going to be a large prohibitive factor against new wind developments in China and, to a lesser extent, in the U.S. and India. SBI Energy sees new wind turbine installations up by 12.0% in 2011 over 2010, but up only another 8.3% in 2012. In fact, it will not be until 2015 or 2016 that transmission issues in China are resolved sufficiently that the country will again achieve double digit growth in wind installations.

The U.S. continues to be the top import country for wind turbine generating sets in 2011, but the UK and Germany rose in ranking over Canada from 2010. Together these four countries account for just over half of all imports. Exports are typically dominated by Denmark and Germany, which together provide 60% of the world’s wind turbine generating set exports. However, total exports will be up significantly in 2011 to $5.9 billion as manufacturers in soft wind markets such as Germany and Spain aggressively expand to other regions. Despite its position as the number one regional market in 2010 and again in 2011, China’s wind turbine industry was almost entirely domestic and the country’s wind turbine manufacturers exported very little product.

The wind turbine market is still most heavily influenced by government subsidies and this will continue through the next decade. The support or neglect of governments for wind energy is the main driver behind SBI Energy's three different forecast scenarios in this report. In the median scenario the world wind turbine market is going to climb to $72.8 billion in 2015, with a world total of 442 GW installed. With only moderate government help, the world market is going to reach $138.8 billion in 2020 with a cumulative 876 GW of wind turbines installed world wide. However, with poor government support the 2020 wind turbine market could be as low as $66.6 billion, and with exceptional government support the market could reach up to $326.9 billion at the end of the decade.

The Global Wind Turbine Market, 2nd Edition by SBI Energy provides deep insight into current and future markets for wind turbine systems sold and installed worldwide, focusing on key countries for each market segment. The analysis includes definitions, current product offerings and market detail on the following segments:

  • The overall sales of wind turbine systems, including towers, nacelles and blades
  • An in depth look at the market for wind turbine nacelles, looking particularly at imports and exports.
The report also puts the wind turbine market into perspective by studying the world energy market and analyzing the factors that influence the use of wind over other energy sources.

Report Methodology This report contains primary and secondary data obtained from government sources, trade associations and publications, business journals, scientific papers, company literature, investment reports, and interviews with industry professionals. Statistics on wind installations comes from a number of sources including the U.S. Department of Energy, the Global Wind Energy Association (GWEA), The American Wind Energy Association (AWEA) and the Chinese Renewable Energy Industries Association (CREIA); production cost indexes are from the U.S. Bureau of Labor Statistics; import and export data come from the U.S. International Trade Commission, The United Nations ComTrade database, EuroStat and others.

What You’ll Get in This Report The Global Wind Turbine Market, 2nd Edition provides a concise, focused look on the markets for wind turbines as they exist today, and shows where these markets are moving between 2011 and 2020. The report highlights key players manufacturing wind turbines and pinpoints ways that current and prospective competitors can capitalize on recent trends and spearhead new ones. No other market research report provides both the comprehensive analysis and comprehensive data that The Global Wind Turbine Market, 2nd Edition offers. You will also benefit from the report’s presentation of its extensive data in easy-to-read and practical charts, tables and graphs.

How You’ll Benefit from this Report If your company is considering investing in the wind energy market, or is involved with renewable energy or wind turbine component businesses, you will find this report invaluable as it provides a comprehensive package of information and insight not offered in any other single source. You will gain a thorough understanding of the current market for both onshore and offshore wind turbines, as well as projected markets and trends for these technologies through 2020. The report also provides a concise view of the geographic breakdown of the wind turbine market, outlining key drivers and barriers for each key market country.

This report will help:

  • Marketing managers identify market opportunities and develop targeted promotion plans for businesses looking to develop markets within renewable energy or wind turbine manufacturing.
  • Research and development professionals stay on top of competitor initiatives and explore demand for new wind turbine technologies as well as the downstream product market for wind energy.
  • Advertising agencies working with clients in a host of market sectors such as electricity generation, cleantech investing and industrial manufacturing to develop messages and images that compel businesses and industries to adopt wind energy for part or all of their energy needs.
  • Business development executives understand the dynamics of the market and identify possible partnerships with raw material providers, key organizations and wind turbine manufacturers with unique products or processes. The report also provides crucial information on job creation that is spurred by wind turbine production.
  • Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.
Chapter 1 Executive Summary
The Global Wind Turbine Market
Figure 1-1 Wind Turbine Installations by Country by Year, 2006-2010 (in MW)
Wind Turbine Competitors
Figure 1-2 Market by Competitor, 2011 (in percent)
China
U.S.
India
Figure 1-3 Top Five Global Wind Turbine Market Countries, 2006-2010 (in billion $)
Germany
Spain
Wind Turbine Generating Set Imports and Exports
Figure 1-4 Exports of Wind Turbine Generating Sets, 2000-2020 (in billion $ and percent)
Wind Turbine Market Forecast
Figure 1-5 Global Cumulative Installed Wind Forecast, 2011-2020 (in GW)
China Forecast
U.S. Forecast
India Forecast
Figure 1-6 Global Wind Turbine Market Forecast by Country, Median Scenario, 2011-2020 (in billion $)
Germany Forecast
Spain Forecast
Wind Turbine Market Trends
Figure 1-7 Key Drivers & Barriers Affecting the Wind Turbine Market
Wind Turbine Costs & Energy Prices
Table 1-1 Estimated Levelized Cost of New U.S. Generation Resources, 2016* (2009 $/megawatt-hour; MWh)
The Offshore Wind Turbine Market
Table 1-2 Cumulative Offshore Wind Installations by Geographical Region, 2006-2020 (in MW)
Curtailment Concerns
Wind Turbines: Bigger is Better
Figure 1-8 Average Size of Installed Wind Turbines, 2006-2011 (in kW)
Employment Trends
Table 1-3 Wind Industry Jobs by Country, 2010-2020
Financial Trends: FITs and Investments
Figure 1-9 Countries with Wind Feed in Tariffs, 2011
Small Turbine Trends
Chapter 2 Introduction
Scope
Methodology
A Note on Trade Codes and Import and Export Data
Table 2-1 Wind Turbine Import and Export HS Codes
Terminology
Wind Turbine Technology
Table 2-2 Turbine Component Weights and Costs (in percent)
Parts of a Nacelle Assembly
Figure 2-1 The parts of a Wind Turbine
Direct & Indirect Drives
Figure 2-2 A Direct Drive Wind Turbine
Table 2-3 Comparison of Direct and Indirect Wind Turbines
Onshore versus Offshore Wind Turbines
Wind Energy Associations Worldwide
Table 2-4 Wind Associations and Groups
Chapter 3 The Market
The Global Wind Turbine Market
Figure 3-1 Global Wind Turbine Capacity and Electricity Generated by Wind, 2006-2010 (in GW for capacity and billion kWh for generation)
Figure 3-2 Global Wind Market, 2006-2010 (in billion $ and GW Installed)
Asia is Chasing Europe for Regional Wind Lead
Table 3-1 Cumulative Wind Capacity by Geographical Region, 2006-2010 (in MW)
China Now Leads Wind Turbine Installations
Figure 3-3 Wind Turbine Installations by Country by Year, 2006-2010 (in MW)
Figure 3-4 Top Five Global Wind Turbine Market Countries, 2006-2010 (in billion $)
Offshore Becoming a Competitive Market
Table 3-2 Cumulative Offshore Wind Installations by Geographical Region, 2006-2010 (in MW)
Top National Markets
Figure 3-5 Top 10 Countries for Single Year Wind Installations and Cumulative Installs, 2010 (in percent)
China
Figure 3-6 China’s Wind Turbine Import, Export & Domestic Market, 2006-2011 (in million $)
Table 3-3 Top Chinese Provinces for Yearly & Cumulative Wind Installations, 2010 (in MW installed)
Figure 3-7 Total Wind Turbines by Province/Municipality, 2010 (in MW)
Table 3-4 China’s Onshore & Offshore Wind Installations by Year, 2006-2011 (in MW)
U.S.
Figure 3-8 U.S. Wind Turbine Import, Export & Domestic Market, 2006-2011 (in million $)
Table 3-5 Top U.S. Import & Export Countries for Wind Turbine Generator Sets, 2006-2010 (in million $)
Figure 3-9 Total Wind Turbine Installations by State, 2010 (in MW)
Table 3-6 Top U.S. States for Yearly & Cumulative Wind Installations, 2010 (in MW installed)
India
Figure 3-10 India’s Wind Turbine Import, Export & Domestic Market, 2006-2011 (in million $)
Table 3-7 Top Indian Export Countries for Wind Turbine Generator Sets, 2006-2010 (in million $)
Table 3-8 India’s Wind Installations by State, March 2007- March 2011 (in MW)
Germany
Figure 3-11 Germany’s Wind Turbine Import, Export & Domestic Market, 2006-2011 (in million $)
Table 3-9 Top German Import & Export Countries for Wind Turbine Generator Sets, 2006-2010 (in million $)
Table 3-10 Germany’s Onshore & Offshore Wind Installations by Year, 2006-2011 (in MW)
Spain
Figure 3-12 Spain’s Wind Turbine Import, Export & Domestic Market, 2006-2011 (in million $)
Table 3-11 Top Spanish Import & Export Countries for Wind Turbine Generator Sets, 2006-2010 (in million $)
Others
Table 3-12 Total Offshore Wind Capacity by Country, 2006-2011 (in MW)
Wind Turbine Generating Set Imports and Exports
Figure 3-13 Exports of Wind Turbine Generating Sets, 2000-2011 (in billion $ and percent)
Figure 3-14 YoY Change in Global Wind Turbine Exports and Wind Capacity Additions, 1998-2011 (in percent)
Top Wind Turbine Generating Set Trade Countries
Table 3-13 Top 10 Export Countries of Wind Turbine Generating Sets, 2006-2010 (in million $)
Table 3-14 Top 10 Import Countries of Wind Turbine Generating Sets, 2006-2010 (in million $)
Chapter 4 Market Trends
Global Use of Wind Energy
Figure 4-1 Global Use of Renewable Energy by Type, 2006-2010 (in billion kWh & percent)
Figure 4-2 Total Global Renewable Energy Capacity by Country, 2010 (in GW)
Drivers and Barriers for the Wind Turbine Market
Figure 4-3 Key Drivers & Barriers Affecting the Wind Turbine Market
Wind Energy Requirements Around the World
Table 4-1 Countries with Wind-Specific Energy Generation Requirements, 2010
China’s Current Five Year Energy Plan and the Seven Wind Bases
Table 4-2 China’s Wind Base Program, 2010-2020 (in MW)
Wind Turbine Costs & Energy Prices
Table 4-3 Wind Turbine Cost Structure (in percent)
Wind Turbine Manufacturing Costs
Figure 4-4 Average Wind Turbine Prices, 2000-2011 (in $/kW)
Figure 4-5 Producer Price Index for Turbines & Generator Sets, and Parts of Same, 2000-2011 (index)
Comparing Wind Energy Costs to Other Types of Electricity Generation
Table 4-4 Levelized Cost of Wind Energy & Financial Gap by Country, 2008 (in $/MWh)
Table 4-5 Estimated Levelized Cost of New U.S. Generation Resources, 2016* (2009 $/MWh)
Curtailment Concerns
Transmission and Connection Issues
Utilization Capacity of Wind Systems
Table 4-6 Capacity Factor by Type of Electricity Generation, 2008 (in percent)
Wind Energy Curtailment in China
Wind Energy Curtailment in the U.S.
Table 4-7 Wind Curtailment by Area, 2007-2010 (in GWh and % of potential wind generation)
Offshore Trends
Table 4-8 Typical Onshore & Offshore Wind Farm Characteristics, 2008
Figure 4-6 Cumulative Offshore Wind Turbine Foundations by Type, 2010 (in %)
Wind Turbines: Bigger is Better
Figure 4-7 Average Size of Installed Wind Turbines, 2006-2011 (in kW)
Towards the 20 MW Turbine
Figure 4-8 Largest Capacity Wind Turbine by Year, 1985-2009
Average Wind Turbines Size Will Continue to Grow
Employment Trends
Table 4-10 Wind Industry Jobs by Country, 2010-2020
Financial Trends
Wind FITs
Figure 4-9 Countries with Wind Feed in Tariffs, 2011
Non-FIT Government funding
Investments in the Wind Market
Table 4-11 Renewable and Wind Investments, 2004-2010 (in billion $)
Figure 4-10 Global Wind Investments, 2004-2011 (in thousand $/MW)
Research Trends
Wind Research Funding
Table 4-12 Government Wind Research Funding in Key Countries, 2006-2010 (in million $)
Key Research Focus Areas
Small Turbine Trends
Figure 4-11 Small Wind Turbine Installations for the U.S., UK & China, 2009-2011 (in cumulative number of systems installed & cumulative MW installed)
Hybrid Wind Systems
Chapter 5 Global Wind Turbine Forecast
A Note on the different Scenarios
Global Forecast
Figure 5-1 Global Cumulative Installed Wind Forecast, 2011-2020 (in GW)
Figure 5-2 Global Wind Turbine Market Forecast, 2011-2020 (in billion $)
Wind Growth will be moderate in the short term
Figure 5-3 Cumulative Global Wind Forecast by Country, 2011-2015 (in GW)
Table 5-1 Global Wind Turbine Market Forecast, 2011-2015 (in billion $)
The Wind Market’s Long Term Forecast
Figure 5-4 Global Wind Forecast by Country, 2016-2020 (in GW)
Table 5-2 Global Wind Turbine Market Forecast, 2016-2020 (in billion $)
Figure 5-5 Key Geographic Wind Turbine Markets (Median Scenario), 2010, 2020 (in percent of market)
Pricing Forecast
Figure 5-6 Average Wind Turbine Prices Forecast, 2011-2020 (in $/kW)
Exports to Decline in Long Term
Figure 5-7 Export Forecast of Wind Turbine Generating Sets (Median Scenario), 2011-2020 (in billion $ and percent)
Offshore Forecast
Table 5-3 Total Offshore Wind Capacity by Country, 2010-2020 (in MW)
China Forecast
Figure 5-8 China Forecast: Wind Turbine Market, 2011-2020 (in billion $)
Table 5-4 China Forecast: Installed Wind Turbines by Year, 2011-2020 (in GW)
U.S. Forecast
Figure 5-9 U.S. Forecast: Wind Turbine Market, 2011-2020 (in billion $)
Table 5-5 U.S. Forecast: Installed Wind Turbines by Year, 2011-2020 (in GW)
India Forecast
Figure 5-10 India Forecast: Wind Turbine Market, 2011-2020 (in billion $)
Table 5-6 India Forecast: Installed Wind Turbines by Year, 2011-2020 (in GW)
Germany Forecast
Figure 5-11 Germany Forecast: Wind Turbine Market, 2011-2020 (in billion $)
Table 5-7 Germany Forecast: Installed Wind Turbines by Year, 2011-2020 (in GW)
Spain Forecast
Figure 5-12 Spain Forecast: Wind Turbine Market, 2011-2020 (in billion $)
Table 5-8 Spain Forecast: Installed Wind Turbines by Year, 2011-2020 (in MW)
Upcoming Countries
Table 5-9 Forecast of Other Major Wind Countries, 2010-2020
Chapter 6 Competitors
First Tier Competitors
Figure 6-1 Market by Competitor, 2011 (in percent)
Dongfang Electric Corporation
Overview
Performance
Figure 6-2 DEC’s Wind Revenue and Wind Turbines Produced, 2007-2011 (in million yuan & MW)
Products
New Developments
Enercon
Overview
Performance
Table 6-1 Enercon’s Cumulative Wind Turbine Installations by Country, November 2010 (in MW)
Products
Table 6-2 Enercon’s Wind Turbine Products, 2011
New Developments
Gamesa
Overview
Performance
Figure 6-3 Gamesa’s Revenue and Wind Turbines Shipped, 2006-2011 (in million euros & MW)
Products
Table 6-3 Gamesa’s Wind Turbine Products, 2011
New Developments
General Electric
Overview
Performance
Figure 6-4 GE’s Energy Infrastructure Segment Revenue and Wind Turbines Shipped, 2006-2011 (in billion $ & units shipped)
Products
Table 6-4 GE’s Wind Turbine Products, 2011
New Developments
Goldwind
Overview
Performance
Figure 6-5 Goldwind’s Revenue and Wind Turbines Installed, 2006-2011 (in million yuan & MW)
Products
Table 6-5 Goldwind’s Wind Turbine Products, 2011
New Developments
REpower
Overview
Performance
Figure 6-6 REpowers’s Revenue and Wind Turbines Installed, 2006-FY2011 (in million euros & MW)
Products
Table 6-6 REpower’s Wind Turbine Products, 2011
New Developments
Siemens
Performance
Figure 6-7 Siemens’ Renewables Revenue and Wind Turbines Shipped, 2006-2011 (in million euros & MW)
Products
Table 6-7 Siemens’ Wind Turbine Products, 2011
New Developments
Sinovel
Overview
Performance
Figure 6-8 Sinovel’s Revenue and Wind Turbines Installed, 2008-2011 (in million yuan & MW)
Products
Table 6-8 Sinovel’s Wind Turbine Products, 2011
New Developments
Suzlon
Overview
Performance
Figure 6-9 Suzlon’s Consolidated Revenue and Wind Turbines Shipped, 2008-2011 (in billion rupees & MW)
Products
Table 6-9 Suzlon’s Wind Turbine Products, 2011
New Developments
Vestas
Overview
Performance
Figure 6-10 Vestas’ Revenue and Wind Turbines Shipped, 2006-2011 (in million euros & MW)
Products
Table 6-10 Vestas’ Wind Turbine Products, 2011
New Developments
Second Tier Competitors
Clipper Windpower
Mingyang
Nordex
United Power
Appendix: Company Contact Information

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