Published on March 1st, 2016 | by Joshua S Hill2
Global Wind Capacity Will Reach 703 GW By 2020, Predicts GlobalData
March 1st, 2016 by Joshua S Hill
The cumulative installed capacity of the global wind energy market increased by 15.6% in 2015, and is expected to continue to grow and reach 703.4 GW by 2020.
These are the findings from a February report published by information provider GlobalData, Wind Turbine Market, Update 2015 – Market Size, Average Price, Market Share and Key Country Analysis to 2020. Despite a slump in growth in 2013, GlobalData predicts that 2015’s growth will continue through 2020.
GlobalData highlighted China, the United States, and Germany as the top three wind power markets in 2015, in terms of annual additions. China is unsurprisingly leading the way, as has been reported by numerous agencies over the past two months. GlobalData concluded that China was the leader in both the manufacture and deployment of wind turbines in 2015, with an annual installed capacity of 23.0 GW, amounting to 39.7% of the total global annual capacity additions. The US and Germany followed, while Brazil, India, Canada, and the UK all installed significant amounts of wind power of over 1 GW each.
Wind Turbine Market, Global, Share of Annual Addition by Country (%), 2015
The GlobalData report also included 2014 manufacture market statistics — however, its figures seem to be a little behind the times. According to GlobalData’s report, Vestas remained the dominant wind manufacturer with 11.3% of the market share in 2014, followed by Siemens and then Goldwind.
However, new figures from Bloomberg New Energy Finance published late-February placed Goldwind as the leading onshore wind turbine manufacturer in 2015, with 7.8 GW of capacity commissioned during the year — thanks in large part to the surging Chinese market, which installed a record 28.7 GW of new wind capacity in 2015. Vestas came in second, installing 7.3 GW — up an impressive 2.5 GW on 2014 figures (the source for GlobalData’s numbers), followed by GE, which fell from first place in 2014 to third in 2015, installing 5.9 GW.
Siemens installed 3.1 GW of onshore wind in 2015, ranking fourth overall, tied with Gamesa, but Siemens also installed another 2.6 GW of offshore wind, making it the offshore wind turbine manufacturer leader.