MAKE has updated its Global Wind Power Market Outlook Update with a global upgrade of 0.3% over the next 10 years.
A global insight company focusing on renewable energy, MAKE Consulting published the Q3/2015 Global Wind Power Market Outlook Update on Tuesday, revealing a growing corporate and industrial class of offtakers in the US, as well as a massive improvement in the Iranian wind energy market.
Specifically, US offtakers are set to impact a 2% upgrade in the US compared to Q2’s forecast, while improved market confidence in Iran will see a 114% upgrade. Nevertheless, even with these increases, the overall picture on Q2 analysis is relatively the same.
China did post an impressive first half in terms of wind energy development and growth, but MAKE notes that it “will have to post an even bigger second half to reach the record level of growth anticipated for 2015,” though the analysts do believe that “order intake and installation activity to continue [in China] at a rapid pace through Q3.”
Overall, firm order intake for the first half of 2015 increased by 34% compared to a year previously, reaching nearly 25 GW — with overall demand in China accounting for a third of this. Global order intake in the same period for offshore projects increased by more than 200% over the same half a year earlier, due primarily to demand in China and Germany.
There were other minor shifts across the game-board, with Asia Pacific excluding China dropping by 0.1%, a 4% increase in the outlook for the Middle East and Africa, and three-year growth projects in the US and Northern Europe by 1%, but overall the global wind dynamic has stayed the same over the past quarter.