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Global wind market to resume growth in 2011

A new report predicts that the global wind turbine market will expand in 2011, with an estimated growth of 18%, after the global growth in new grid connected wind capacity slowed in 2010.

Around 34 GW of wind generated power came online in 2010, 3.5% more than 2009, however not all wind markets fared equally well. Nearly half of global installations in 2010 were in China and India, eclipsing the growth rates seen in the North American and European markets.

Steen Broust Nielson, Director at MAKE Consulting says: “Some markets - particularly the US - finally showed in 2010 the full damage brought on by the global recession. But drops in some markets were balanced by growth jumps in other markets. Global growth is set to resume in 2011, but the global wind market is seeing shifts in demand, and strategic positioning in the market to capture growth will be key for companies in the sector in coming years.”

MAKE Consultancy’s Market Outlook 2011 provides a global forecast of annual installations of new grid connected wind power capacity from 2011 to 2016 based on the analysis of 45 key and emerging wind markets.

Key findings of ‘Market Outlook 2011’:

  • Based on 2010 installations MAKE predicts the global wind market to grow with a CAGR of 11% in the period 2011-2016 with China is expected to lead this market growth;
  • Emerging markets, as well as offshore wind power are expected to gain in strategic importance;
  • Asia Pacific markets are expected to account for more than half of the market growth in 2011 with China and India leading the region;
  • The Americas, Canada, Brazil and Mexico are expected to see significant growth in 2011;
  • Near term growth in Asia Pacific and the Americas is expected to outpace Europe; amd
  • Installation levels in Europe are expected to witness positive growth, with the slow-down in mature Southern European markets offset by continued high activity levels in the emerging markets of Southern and Eastern Europe. With few offshore projects to reach completion in Europe in 2011, European offshore installations are expected to reach 2010 levels.

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