wind power market, update 2015 – global ...reference code gdae1099mar | publication date june 2015...

REFERENCE CODE GDAE1099MAR | PUBLICATION DATE JUNE 2015

WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET

SHARE AND KEY COUNTRY ANALYSIS TO 2025

Wind Power Market, Update 2015 – Global Market Size, Average Price, Turbine Market Share and Key Country Analysis to 2025 2 © GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form.

WIND POWER MARKET, UPDATE 2015 – GLOBAL MARKET SIZE, AVERAGE PRICE, TURBINE MARKET SHARE AND KEY COUNTRY

ANALYSIS TO 2025

Executive Summary

Growing Global Wind Power Market

Wind is one the fastest growing energy sources in

the world. From an emerging fuel source XX years

ago, it has transformed into a commercial

electricity-generating technology in more than XX

countries. Technological developments have

paved the way for more effective and reliable

equipment and machinery, making wind one of the

fastest-growing energy sources in the global

market. The exponential growth of the market is

fueled by depleting fossil fuel reserves, the

declining cost of wind power generation, and a

growing environmental awareness, and is being

supported by financial incentives from various

governments across the world. The global wind

power market stood at over $XX billion market in

2014 and the market is expected to grow

exponentially in the future.

China was the Largest Wind Power Market in Terms of Cumulative Installed Capacity in 2014

China is the global market leader in wind installed

capacity, with a cumulative installed capacity share

of XX% in 2014. It was followed by the Germany,

which accounted for XX%. China improved its

share and overtook the US in 2010 to become the

largest wind power market globally.

In 2014, around XX Gigawatts (GW) of new

capacity was added globally, and China was solely

responsible for XX% of this. China was followed by

Germany and the US, which accounted for XX%

and XX% of the capacity installed in 2014

respectively. Brazil and India each accounted for

XX% of the new installed capacity, and Canada

and the UK followed with respective shares of

XX% and XX%. The following figure illustrates the

installed capacity shares of the major markets in

2014.

Wind Power Market, Global, Cumulative Installed Capacity by Country (%), 2014

China

GermanyUS

Brazil

IndiaCanada

UKSwedenRomania

France

Other

Source: GlobalData

Onshore Wind Accounts for the Dominant Share of Total Wind Installed Capacity

In 2007, a cumulative total of XX GW of capacity

was installed, and this had increased to XX GW by

2014 The capacity will increase further to XX GW

during the 2014–2025 period, at a CAGR of XX%.

Offshore wind accounted for only XX% of the total

in 2014, although this was an increase from XX%

in 2007. As the technology becomes more

affordable and supplies for installing offshore wind

power plants become more available, the share is

expected to increase to XX% by 2025.


Table of Contents


ANALYSIS TO 2025

1 Table of Contents

1 Table of Contents ......................................................................................................................... 4

1.1 List of Tables ........................................................................................................................ 12

1.2 List of Figures ....................................................................................................................... 18

2 Introduction ................................................................................................................................ 23

2.1 Wind Power Market, Technology Definition .......................................................................... 23

2.2 Wind Power Market, Technology Overview .......................................................................... 23

2.3 Wind Power Market, Turbine Components ........................................................................... 24

2.4 Report Guidance .................................................................................................................. 26

3 Wind Power Market, Global ........................................................................................................ 27

3.1 Wind Power Market, Global, Overview ................................................................................. 27

3.2 Wind Power Market, Global, Installed Capacity, 2007–2025 ................................................. 27

3.3 Wind Power Market, Global, Cumulative Onshore and Offshore Installed Capacity, 2007–

2025 ..................................................................................................................................... 29

3.4 Wind Power Market, Global, Cumulative Installed Capacity by Country, 2014 ...................... 31

3.5 Wind Power Market, Global, Power Generation, 2007–2025 ................................................ 33

3.6 Wind Power Market, Global, Onshore and Offshore Power Generation, 2007–2025 ............ 34

3.7 Wind Power Market, Global, Cost Analysis ........................................................................... 36

3.7.1 Wind Power Market, Global, Wind Farm Capital Expenditure, 2014................................ 38

3.7.2 Wind Power Market, Global, Major Turbine Component Share in the Total Turbine Cost,

2014 ............................................................................................................................... 39

3.7.3 Wind Power Market, Global, Factors Impacting Project Cost .......................................... 39

3.8 Wind Power Market, Global, Average Price and Market Size, 2014–2025 ............................ 41


Table of Contents


ANALYSIS TO 2025

3.9 Wind Power Market, Global, Average Turbine Size, 2006–2025 ........................................... 43

3.10 Wind Power Market, Global, Turbine Market Share, 2014 .................................................... 45

3.11 Wind Power Market, Global, Market Drivers and Restraints ................................................. 47

3.11.1 Wind Power Market, Global, Market Drivers ................................................................... 47

3.11.2 Wind Power Market, Global, Market Restraints ............................................................... 49

4 Wind Power Market, North America ........................................................................................... 51

4.1 Wind Power Market, North America, Overview ..................................................................... 51

4.2 Wind Power Market, North America, Installed Capacity, 2007–2025 .................................... 52

4.3 Wind Power Market, North America, Cumulative Onshore and Offshore Installed Capacity,

2007–2025 ........................................................................................................................... 53

4.4 Wind Power Market, North America, Cumulative Installed Capacity by Country, 2014 ......... 56

4.5 Wind Power Market, North America, Power Generation, 2007–2025 .................................... 57

4.6 Wind Power Market, North America, Onshore and Offshore Power Generation ................... 59

4.7 Wind Power Market, North America, Average Turbine Size, 2006–2020 .............................. 61

4.8 Wind Power Market, US ....................................................................................................... 62

4.8.1 Wind Power Market, US, Overview ................................................................................. 62

4.8.2 Wind Power Market, US, Installed Capacity, 2007–2025 ................................................ 63

4.8.3 Wind Power Market, US, Cumulative Onshore and Offshore Installed Capacity, 2007–

2025 ............................................................................................................................... 66

4.8.4 Wind Power Market, US, Power Generation, 2007–2025 ................................................ 68

4.8.5 Wind Power Market, US, Onshore and Offshore Power Generation, 2007–2025 ............ 70

4.8.6 Wind Power Market, US, Top Active and Upcoming Wind Power Plants, 2015 ............... 72

4.8.7 Wind Power Market, US, Average Turbine Size, 2006–2020 .......................................... 73


Table of Contents


ANALYSIS TO 2025

4.8.8 Wind Power Market, US, Turbine Market Share, 2014 .................................................... 74

4.8.9 Wind Power Market, US, Onshore Levelized Cost of Electricity, 2014–2025 .................. 76

4.8.10 Wind Power Market, US, Average Price and Market Size, 2014–2025 ........................... 78

4.9 Wind Power Market, Canada ................................................................................................ 80

4.9.1 Wind Power Market, Canada, Overview ......................................................................... 80

4.9.2 Wind Power Market, Canada, Installed Capacity, 2007–2025 ......................................... 81

4.9.3 Wind Power Market, Canada, Power Generation, 2007–2025 ........................................ 84

4.9.4 Wind Power Market, Canada, Top Active and Upcoming Wind Power Plants, 2015 ....... 86

4.9.5 Wind Power Market, Canada, Average Turbine Size, 2006–2020 ................................... 87

4.9.6 Wind Power Market, Canada, Turbine Market Share, 2014 ............................................ 89

4.9.7 Wind Power Market, Canada, Levelized Cost of Electricity, 2014–2025 ......................... 91

4.9.8 Wind Power Market, Canada, Average Price and Market Size, 2014–2025 .................... 93

5 Wind Power Market, South America ........................................................................................... 96

5.1 Wind Power Market, Overview.............................................................................................. 96

5.2 Wind Power Market, South America, Installed Capacity, 2007–2025 .................................... 96

5.3 Wind Power Market, South America, Cumulative Installed Capacity by Country, 2014 ......... 98

5.4 Wind Power Market, South America, Power Generation, 2007–2025 ................................. 100

5.5 Wind Power Market, South America, Average Turbine Size, 2006–2020 ............................ 101

5.6 Wind Power Market, Brazil ................................................................................................. 103

5.6.1 Wind Power Market, Brazil, Overview ........................................................................... 103

5.6.2 Wind Power Market, Brazil, Installed Capacity, 2007–2025 .......................................... 104

5.6.3 Wind Power Market, Brazil, Power Generation, 2007–2025 .......................................... 105

5.6.4 Wind Power Market, Brazil, Top Active and Upcoming Wind Power Plants, 2015 ......... 108


Table of Contents


ANALYSIS TO 2025

5.6.5 Wind Power Market, Brazil, Average Turbine Size, 2006–2020 .................................... 109

5.6.6 Wind Power Market, Brazil, Turbine Market Share, 2014 .............................................. 111

5.6.7 Wind Power Market, Brazil, Levelized Cost of Electricity, 2014–2025 ........................... 112

5.6.8 Wind Power Market, Brazil, Average Price and Market Size, 2014–2025 ..................... 114

6 Wind Power Market, Asia-Pacific.............................................................................................. 117

6.1 Wind Power Market, Asia-Pacific, Overview ....................................................................... 117

6.2 Wind Power Market, Asia-Pacific, Installed Capacity, 2007–2025 ...................................... 117

6.3 Wind Power Market, Asia-Pacific, Cumulative Onshore and Offshore Installed Capacity,

2007–2025 ......................................................................................................................... 119

6.4 Wind Power Market, Asia-Pacific, Cumulative Installed Capacity by Country, 2014............ 122

6.5 Wind Power Market, Asia-Pacific, Power Generation, 2007–2025 ...................................... 123

6.6 Wind Power Market, Asia-Pacific, Onshore and Offshore Power Generation, 2007–2025 .. 124

6.7 Wind Power Market, Asia-Pacific, Average Turbine Size, 2006–2020 ................................ 126

6.8 Wind Power Market, China ................................................................................................. 128

6.8.1 Wind Power Market, China, Overview ........................................................................... 128

6.8.2 Wind Power Market, China, Installed Capacity, 2007–2025 .......................................... 129

6.8.3 Wind Power Market, China, Cumulative Onshore and Offshore Installed Capacity, 2007–

2025 ............................................................................................................................. 132

6.8.4 Wind Power Market, China, Power Generation, 2007–2025 ......................................... 133

6.8.5 Wind Power Market, China, Onshore and Offshore Power Generation, 2007–2025 ..... 136

6.8.6 Wind Power Market, China, Top Active and Upcoming Wind Power Plants, 2015 ........ 138

6.8.7 Wind Power Market, China, Average Turbine Size, 2006–2020 .................................... 139

6.8.8 Wind Power Market, China, Turbine Market Share, 2014 ............................................. 141


Table of Contents


ANALYSIS TO 2025

6.8.9 Wind Power Market, China, Onshore Levelized Cost of Electricity, 2014–2025 ............ 143

6.8.10 Wind Power Market, China, Offshore Levelized Cost of Electricity, 2014–2025 ............ 146

6.8.11 Wind Power Market, China, Average Price and Market Size, 2014–2025 ..................... 148

6.9 Wind Power Market, India................................................................................................... 150

6.9.1 Wind Power Market, India, Overview ............................................................................ 150

6.9.2 Wind Power Market, India, Installed Capacity, 2007–2025 ........................................... 151

6.9.3 Wind Power Market, India, Cumulative Installed Capacity, 2007–2025 ......................... 154

6.9.4 Wind Power Market, India, Power Generation, 2007–2025 ........................................... 156

6.9.5 Wind Power Market, India, Onshore and Offshore Power Generation, 2007–2025 ....... 157

6.9.6 Wind Power Market, India, Top Active and Upcoming Wind Power Plants, 2015 .......... 160

6.9.7 Wind Power Market, India, Average Turbine Size, 2006–2020 ..................................... 161

6.9.8 Wind Power Market, India, Turbine Market Share, 2014 ............................................... 163

6.9.9 Wind Power Market, India, Levelized Cost of Electricity, 2014–2025 ............................ 165

6.9.10 Wind Power Market, India, Average Price and Market Size, 2014–2025 ....................... 167

7 Wind Power Market, Europe ..................................................................................................... 170

7.1 Wind Power Market, Europe, Overview .............................................................................. 170

7.2 Wind Power Market, Europe, Installed Capacity, 2007–2025 ............................................. 170

7.3 Wind Power Market, Europe, Cumulative Onshore and Offshore Installed Capacity, 2007–

2025 ................................................................................................................................... 172

7.4 Wind Power Market, Europe, Cumulative Installed Capacity Share by Country, 2014 ........ 174

7.5 Wind Power Market, Europe, Power Generation, 2007–2025 ............................................. 175

7.6 Wind Power Market, Europe, Onshore and Offshore Power Generation ............................. 177

7.7 Wind Power Market, Europe, Average Turbine Size, 2006–2020 ....................................... 179


Table of Contents


ANALYSIS TO 2025

7.8 Wind Power Market, UK ..................................................................................................... 181

7.8.1 Wind Power Market, UK, Overview ............................................................................... 181

7.8.2 Wind Power Market, UK, Installed Capacity, 2007–2025 .............................................. 182

7.8.3 Wind Power Market, UK, Cumulative Onshore and Offshore Installed Capacity, 2007–

2025 ............................................................................................................................. 184

7.8.4 Wind Power Market, UK, Power Generation, 2007–2025 .............................................. 187

7.8.5 Wind Power Market, UK, Onshore and Offshore Power Generation, 2007–2025 .......... 189

7.8.6 Wind Power Market, UK, Top Active and Upcoming Wind Power Plants, 2015 ............. 191

7.8.7 Wind Power Market, UK, Average Turbine Size, 2006–2020 ........................................ 192

7.8.8 Wind Power Market, UK, Turbine Market Share, 2014 .................................................. 194

7.8.9 Wind Power Market, UK, Onshore Levelized Cost of Electricity, 2014–2025 ................ 195

7.8.10 Wind Power Market, UK, Offshore Levelized Cost of Electricity, 2014–2025 ................ 197

7.8.11 Wind Power Market, UK, Average Price and Market Size, 2014–2025 ......................... 199

7.9 Wind Power Market, Germany ............................................................................................ 201

7.9.1 Wind Power Market, Germany, Overview ..................................................................... 201

7.9.2 Wind Power Market, Germany, Installed Capacity and Generation, 2007–2025 ........... 202

7.9.3 Wind Power Market, Germany, Cumulative Onshore and Offshore Installed Capacity,

2007–2025.................................................................................................................... 204

7.9.4 Wind Power Market, Germany, Power Generation, 2007–2025 .................................... 206

7.9.5 Wind Power Market, Germany, Onshore and Offshore Power Generation, 2007–2025 208

7.9.6 Wind Power Market, Germany, Top Active and Upcoming Wind Power Plants, 2015 ... 211

7.9.7 Wind Power Market, Germany, Average Turbine Size, 2006–2025............................... 212

7.9.8 Wind Power Market, Germany, Turbine Market Share, 2014 ........................................ 213


Table of Contents


ANALYSIS TO 2025

7.9.9 Wind Power Market, Germany, Onshore Levelized Cost of Electricity, 2014–2025 ....... 215

7.9.10 Wind Power Market, Germany, Offshore Levelized Cost of Electricity, 2014–2025 ....... 217

7.9.11 Wind Power Market, Germany, Average Price and Market Size, 2014–2025 ................ 219

8 Wind Power Market, Middle East and Africa ............................................................................. 222

8.1 Wind Power Market, Middle East and Africa, Overview ...................................................... 222

8.2 Wind Power Market, Middle East and Africa, Installed Capacity, 2007–2025...................... 222

8.3 Wind Power Market, Middle East and Africa, Installed Capacity by Country, 2014 ............. 224

8.4 Wind Power Market, Middle East and Africa, Power Generation, 2007–2025 ..................... 225

8.5 Wind Power Market, Middle East and Africa, Average Turbine Size, 2006–2020................ 227

8.6 Wind Power Market, South Africa ....................................................................................... 229

8.6.1 Wind Power Market, South Africa, Overview ................................................................. 229

8.6.2 Wind Power Market, South Africa, Installed Capacity, 2007–2025 ................................ 230

8.6.3 Wind Power Market, South Africa, Power Generation, 2007–2025 ............................... 232

8.6.4 Wind Power Market, South Africa, Top Active and Upcoming Wind Power Plants, 2015

234

8.6.5 Wind Power Market, South Africa, Average Turbine Size, 2006–2020 .......................... 235

8.6.6 Wind Power Market, South Africa, Turbine Market Share, 2014 ................................... 236

8.6.7 Wind Power Market, South Africa, Levelized Cost of Electricity, 2014–2025................. 237

8.6.8 Wind Power Market, South Africa, Average Price and Market Size, 2014–2025 ........... 239

9 Appendix .................................................................................................................................. 242

9.1 Abbreviations...................................................................................................................... 242

9.2 Research Methodology ....................................................................................................... 243

9.2.1 Report Coverage .......................................................................................................... 243


Table of Contents


ANALYSIS TO 2025

9.2.2 Secondary Research .................................................................................................... 244

9.2.3 Primary Research ......................................................................................................... 244

9.2.4 Market Estimates and Assumptions .............................................................................. 245

9.3 Disclaimer .......................................................................................................................... 245


Table of Contents


ANALYSIS TO 2025

1.1 List of Tables

Table 1: Wind Power Market, Global, Installed Capacity (GW) and Growth (%), 2007–2025 ...................... 29

Table 2: Wind Power Market, Global, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–

2025............................................................................................................................................ 31

Table 3: Wind Power Market, Global, Cumulative Installed Capacity by Country (%), 2007–2025 .............. 32

Table 4: Wind Power Market, Global, Power Generation (TWh) and Growth (%), 2007–2025 .................... 34

Table 5: Wind Power Market, Onshore and Offshore Power Generation (TWh), 2007–2025 ...................... 36

Table 6: Wind Power Market, Global, Wind Farm Capital Expenditure (%), 2014 ....................................... 38

Table 7: Wind Power Market, Global, Major Turbine Component Share in Total Turbine Cost (%), 2014 ... 39

Table 8: Wind Power Market, Global, Market Size ($bn) and Average Price ($/kW), 2014–2025 ................ 43

Table 9: Wind Power Market, Global, Average Turbine Size (MW), 2006–2020 ......................................... 45

Table 10: Wind Power Market, Global, Turbine Market Share (%), 2014...................................................... 46

Table 11: Wind Power Market, North America, Installed Capacity (GW) and Growth (%), 2007–2025 .......... 53

Table 12: Wind Power Market, North America, Cumulative Onshore and Offshore Installed Capacity (GW),

2007–2025 .................................................................................................................................. 55

Table 13: Wind Power Market, North America, Cumulative Installed Capacity by Country (%), 2014 ........... 56

Table 14: Wind Power Market, North America, Annual Power Generation (TWh) and Growth (%), 2014–2025

................................................................................................................................................... 58

Table 15: Wind Power Market, North America, Onshore and Offshore Power Generation (TWh), 2007–2025

................................................................................................................................................... 60

Table 16: Wind Power Market, North America, Average Turbine Size (MW), 2006–2020 ............................. 62

Table 17: Wind Power Market, US, Installed Capacity (GW) and Growth (%), 2007–2025 ........................... 65

Table 18: Wind Power Market, US, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025

................................................................................................................................................... 67

Table 19: Wind Power Market, US, Annual Power Generation (TWh) and Growth (%), 2007–2025 ............. 69

Table 20: Wind Power Market, Onshore and Offshore Power Generation (TWh), 2007–2025 ...................... 71


Table of Contents


ANALYSIS TO 2025

Table 21: Wind Power Market, US, Top 10 Active Wind Power Plants, 2015 ............................................... 72

Table 22: Wind Power Market, US, Top 10 Upcoming Wind Power Plants, 2015 ......................................... 72

Table 23: Wind Power Market, US, Average Turbine Size (MW), 2006–2020 .............................................. 74

Table 24: Wind Power Market, US, Turbine Market Share (%), 2014 ........................................................... 75

Table 25: Onshore Wind Power Market, The US, Assumptions for Levelized Cost of Electricity Calculation,

2014–2025 .................................................................................................................................. 76

Table 26: Onshore Wind Power Market, The US, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ... 78

Table 27: Wind Power Market, US, Market Size ($bn) and Average Price ($/kW), 2014–2025 ..................... 80

Table 28: Wind Power Market, Canada, Installed Capacity (GW) and Growth (%), 2007–2025 .................... 83

Table 29: Wind Power Market, Canada, Annual Power Generation (TWh) and Growth (%), 2014–2025 ...... 85

Table 30: Wind Power Market, Canada, Top 10 Active Wind Power Plants, 2015 ........................................ 86

Table 31: Wind Power Market, Canada, Top 10 Upcoming Wind Power Plants, 2015 .................................. 87

Table 32: Wind Power Market, Canada, Average Turbine Size (MW), 2006–2020 ....................................... 89

Table 33: Wind Power Market, Canada, Turbine Market Share, 2014 .......................................................... 90

Table 34: Wind Power Market, Canada, Assumptions for Levelized Cost of Electricity Calculation, 2014–

2025............................................................................................................................................ 91

Table 35: Wind Power Market, Canada, Levelized Cost of Electricity ($kWh), 2014–2025 ........................... 93

Table 36: Wind Power Market, Canada, Market Size ($bn) and Average Price ($/kW), 2014–2025.............. 95

Table 37: Wind Power Market, South America, Installed Capacity (GW) and Growth (%), 2007–2025 ......... 98

Table 38: Wind Power Market, South America, Cumulative Installed Capacity by Country (%), 2014 ........... 99

Table 39: Wind Power Market, South America, Annual Power Generation (TWh) and Growth (%), 2007–2025

................................................................................................................................................. 101

Table 40: Wind Power Market, South America, Average Turbine Size (MW), 2006–2020 .......................... 103

Table 41: Wind Power Market, Brazil, Installed Capacity (MW) and Growth (%), 2007–2025 ..................... 105

Table 42: Wind Power Market, Brazil, Annual Power Generation (GWh) and Growth (%), 2007–2025 ....... 107


Table of Contents


ANALYSIS TO 2025

Table 43: Wind Power Market, Brazil, Top 10 Active Wind Power Plants, 2015 ......................................... 108

Table 44: Wind Power Market, Brazil, Top 10 Upcoming Wind Power Plants, 2015 ................................... 109

Table 45: Wind Power Market, Brazil, Average Turbine Size (MW), 2006–2020 ........................................ 111

Table 46: Wind Power Market, Brazil, Turbine Market Share (%), 2014 ..................................................... 112

Table 47: Wind Power Market, Brazil, Assumptions for Levelized Cost of Electricity Calculation, 2014–2025

................................................................................................................................................. 113

Table 48: Wind Power Market, Brazil, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 .................. 114

Table 49: Wind Power Market, Brazil, Market Size ($bn) and Average Price ($/kW), 2014–2025 ............... 116

Table 50: Wind Power Market, Asia-Pacific, Installed Capacity (GW) and Growth(%), 2007–2025 ............. 119

Table 51: Wind Power Market, Asia-Pacific, Cumulative Onshore and Offshore Installed Capacity (GW),

2007–2025 ................................................................................................................................ 121

Table 52: Wind Power Market, Asia-Pacific, Cumulative Installed Capacity by Country (%), 2014.............. 122

Table 53: Wind Power Market, Asia-Pacific, Annual Power Generation (TWh) and Growth (%), 2007–2025

................................................................................................................................................. 124

Table 54: Wind Power Market, Asia-Pacific, Onshore and Offshore Power Generation (GW), 2007–2025 . 126

Table 55: Wind Power Market, Asia-Pacific, Average Turbine Size (MW), 2006–2020 ............................... 128

Table 56: Wind Power Market, China, Installed Capacity (MW) and Growth (%), 2007–2025 ..................... 131

Table 57: Wind Power Market, China, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–

2025.......................................................................................................................................... 133

Table 58: Wind Power Market, China, Annual Power Generation (TWh) and Growth (%), 2007–2025 ....... 135

Table 59: Wind Power Market, China, Annual Onshore and Offshore Power Generation (TWh), 2007–2025

................................................................................................................................................. 137

Table 60: Wind Power Market, China, Top 10 Active Wind Power Plants, 2015 ......................................... 138

Table 61: Wind Power Market, China, Top 10 Upcoming Wind Power Plants, 2015 ................................... 139

Table 62: Wind Power Market, China, Average Turbine Size (MW), 2006–2020 ........................................ 141

Table 63: Wind Power Market, China, Turbine Market Share (%), 2014 .................................................... 143


Table of Contents


ANALYSIS TO 2025

Table 64: Onshore Wind Power Market, China, Assumptions for Levelized Cost of Electricity Calculation,

2014–2025 ................................................................................................................................ 145

Table 65: Onshore Wind Power Market, China, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ... 145

Table 66: Offshore Wind Power Market, China, Assumptions for Levelized Cost of Electricity Calculation,

2014–2025 ................................................................................................................................ 146

Table 67: Offshore Wind Power Market, China, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ... 148

Table 68: Wind Power Market, China, Market Size ($bn) and Average Price ($/kW), 2014–2025 ............... 150

Table 69: Wind Power Market, India, Installed Capacity (GW) and Growth (%), 2007–2025 ...................... 153

Table 70: Wind Power Market, India, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025

................................................................................................................................................. 155

Table 71: Wind Power Market, India, Annual Power Generation (GWh) and Growth (%), 2007–2025 ........ 157

Table 72: Wind Power Market, India, Annual Onshore and Offshore Power Generation (GWh), 2007–2025

................................................................................................................................................. 159

Table 73: Wind Power Market, India, Top 10 Active Wind Power Plants, 2015 .......................................... 160

Table 74: Wind Power Market, India, Top 10 Upcoming Wind Power Plants, 2015 .................................... 161

Table 75: Wind Power Market, India, Average Turbine Size (MW), 2006–2020 ......................................... 163

Table 76: Wind Power Market, India, Turbine Market Share (%), 2014 ...................................................... 164

Table 77: Onshore Wind Power Market, India, Assumptions for Levelized Cost of Electricity Calculation,

2014–2025 ................................................................................................................................ 165

Table 78: Onshore Wind Power Market, India, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ..... 167

Table 79: Wind Power Market, India, Market Size ($bn) and Average Price ($/kW), 2014–2025 ................ 169

Table 80: Wind Power Market, Europe, Installed Capacity (GW) and Growth (%), 2007–2025 ................... 172

Table 81: Wind Power Market, Europe, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–

2025.......................................................................................................................................... 174

Table 82: Wind Power Market, Europe, Cumulative Installed Capacity Share by Country (%), 2014 .......... 175

Table 83: Wind Power Market, Europe, Annual Power Generation (TWh) and Growth (%), 2007–2025 ..... 177


Table of Contents


ANALYSIS TO 2025

Table 84: Wind Power Market, Europe, Annual Onshore and Offshore Power Generation (TWh), 2007–2025

................................................................................................................................................. 179

Table 85: Wind Power Market, Europe, Average Turbine Size (MW), 2006–2020 ...................................... 181

Table 86: Wind Power Market, UK, Installed Capacity (GW) and Growth (%), 2007–2025 ......................... 184

Table 87: Wind Power Market, UK, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025

................................................................................................................................................. 186

Table 88: Wind Power Market, Global, Annual Power Generation (TWh) and Growth (%), 2014–2025 ...... 188

Table 89: Wind Power Market, UK, Annual Power Generation (TWh), 2007–2025 ..................................... 190

Table 90: Wind Power Market, UK, Top 10 Active Wind Power Plants, 2015 ............................................. 191

Table 91: Wind Power Market, UK, Top 10 Upcoming Wind Power Plants, 2015 ....................................... 192

Table 92: Wind Power Market, UK, Average Turbine Size (MW), 2006–2020 ............................................ 194

Table 93: Wind Power Market, UK, Turbine Market Share (%), 2014 ......................................................... 195

Table 94: Onshore Wind Power Market, UK, Assumptions for Levelized Cost of Electricity Calculation, 2014–

2025.......................................................................................................................................... 196

Table 95: Onshore Wind Power Market, UK, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ........ 197

Table 96: Offshore Wind Power Market, UK, Assumptions for Levelized Cost of Electricity Calculation, 2014–

2025.......................................................................................................................................... 197

Table 97: Offshore Wind Power Market, UK, Levelized Cost of Electricity ($/kWh), 2014–2025 ................. 199

Table 98: Wind Power Market, UK, Market Size ($bn) and Average Price ($/kW), 2014–2025 ................... 201

Table 99: Wind Power Market, Germany, Installed Capacity (GW) and Growth (%), 2007–2025 ................ 204

Table 100: Wind Power Market, Germany, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–

2025.......................................................................................................................................... 206

Table 101: Wind Power Market, Germany, Annual Power Generation (TWh) and Growth (%), 2007–2025 .. 208

Table 102: Wind Power Market, Germany, Annual Onshore and Offshore Power Generation (TWh), 2007–

2025.......................................................................................................................................... 210

Table 103: Wind Power Market, Germany, Top 10 Active Wind Power Plants, 2015 .................................... 211


Table of Contents


ANALYSIS TO 2025

Table 104: Wind Power Market, Germany, Top 10 Upcoming Wind Power Plants, 2015.............................. 211

Table 105: Wind Power Market, Germany, Average Turbine Size (MW), 2006–2020 ................................... 213

Table 106: Wind Power Market, Germany, Turbine Market Share (%), 2014 ............................................... 214

Table 107: Onshore Wind Power Market, Germany, Assumptions for Levelized Cost of Electricity Calculation,

2014–2025 ................................................................................................................................ 215

Table 108: Onshore Wind Power Market, Germany, Levelized Cost of Electricity ($/kWh), 2014–2025 ........ 217

Table 109: Offshore Wind Power Market, Germany, Assumptions for Levelized Cost of Electricity Calculation,

2014–2025 ................................................................................................................................ 218

Table 110: Offshore Wind Power Market, Germany, Levelized Cost of Electricity (kW), 2014–2025............. 219

Table 111: Wind Power Market, Germany, Market Size ($bn) and Average Price ($kW), 2014–2025 .......... 221

Table 112: Wind Power Market, Middle East and Africa, Installed Capacity (GW) and Growth (%), 2007–2025

................................................................................................................................................. 224

Table 113: Wind Power Market, Middle East and Africa, Annual Power Generation (TWh) and Growth (%),

2007–2025 ................................................................................................................................ 227

Table 114: Wind Power Market, Middle East and Africa, Average Turbine Size, 2006–2020 ........................ 229

Table 115: Wind Power Market, South Africa, Installed Capacity (MW) and Growth (%), 2007–2025 ........... 231

Table 116: Wind Power Market, South Africa, Annual Power Generation (GWh) and Growth (%), 2007–2025

................................................................................................................................................. 233

Table 117: Wind Power Market, South Africa, Top Active Wind Power Plants, 2015 .................................... 234

Table 118: Wind Power Market, South Africa, Top 10 Upcoming Wind Power Plants, 2015 ......................... 234

Table 119: Wind Power Market, South Africa, Average Turbine Size (MW), 2006–2020 .............................. 236

Table 120: Wind Power Market, South Africa, Turbine Market Share (%), 2014 ........................................... 237

Table 121: Wind Power Market, South Africa, Assumptions for Levelized Cost of Electricity Calculation, 2014–

2025.......................................................................................................................................... 238

Table 122: Wind Power Market, South Africa, Levelized Cost of Electricity ($/kWh), 2014–2025 ................. 239

Table 123: Wind Power Market, South Africa, Market Size ($bn) and Average Price ($/kW), 2014–2025 ..... 241


Table of Contents


ANALYSIS TO 2025

Table 124: Abbreviations ............................................................................................................................ 242

1.2 List of Figures

Figure 1: Wind Power Market, Global, Installed Capacity (GW) and Growth (%), 2007–2025 ...................... 28

Figure 2: Wind Power Market, Global, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–

2025............................................................................................................................................ 30

Figure 3: Wind Power Market, Global, Cumulative Installed Capacity by Country (%), 2014 ........................ 32

Figure 4: Wind Power Market, Global, Power Generation (TWh) and Growth (%), 2007–2025 .................... 33

Figure 5: Wind Power Market, Global, Onshore and Offshore Power Generation (TWh), 2007–2025 .......... 35

Figure 6: Wind Power Market, Global, Value Chain Activities...................................................................... 37

Figure 7: Wind Power Market, Global, CAPEX in Leading Markets ($/kW), 2014 ........................................ 41

Figure 8: Wind Power Market, Global, Market Size ($bn) and Average Price ($/kW), 2014–2025 ................ 42

Figure 9: Wind Power Market, Global, Average Turbine Size (MW), 2006–2020 ......................................... 44

Figure 10: Wind Power Market, Global, Turbine Market Share (%), 2014...................................................... 46

Figure 11: Wind Power Market, North America, Installed Capacity (GW) and Growth (%), 2007–2025 .......... 52

Figure 12: Wind Power Market, North America, Cumulative Onshore and Offshore Installed Capacity (GW),

2007–2025 .................................................................................................................................. 54

Figure 13: Wind Power Market, North America, Cumulative Installed Capacity by Country (%), 2014 ........... 56

Figure 14: Wind Power Market, North America, Annual Power Generation (TWh) and Growth (%), 2007–2025

................................................................................................................................................... 57

Figure 15: Wind Power Market, North America, Onshore and Offshore Power Generation (TWh), 2007–2025

................................................................................................................................................... 59

Figure 16: Wind Power Market, North America, Average Turbine Size (MW), 2006–2020 ............................. 61

Figure 17: Wind Power Market, US, Installed Capacity (GW) and Growth (%), 2007–2025 ........................... 64

Figure 18: Wind Power Market, US, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025

................................................................................................................................................... 66


Table of Contents


ANALYSIS TO 2025

Figure 19: Wind Power Market, US, Annual Power Generation (TWh) and Growth (%), 2007–2025 ............. 68

Figure 20: Wind Power Market, US, Onshore and Offshore Power Generation (TWh), 2007–2025 ............... 70

Figure 21: Wind Power Market, US, Average Turbine Size (MW), 2006–2020 .............................................. 73

Figure 22: Wind Power Market, US, Turbine Market Share (%), 2014 ........................................................... 75

Figure 23: Onshore Wind Power Market, The US, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ... 77

Figure 24: Wind Power Market, US, Market Size ($bn) and Average Price ($/kW), 2014–2025 ..................... 79

Figure 25: Wind Power Market, Canada, Installed Capacity (GW) and Growth (%), 2007–2025 .................... 82

Figure 26: Wind Power Market, Canada, Annual Power Generation (TWh) and Growth (%), 2007–2025 ...... 84

Figure 27: Wind Power Market, Canada, Average Turbine Size (MW), 2006–2020 ....................................... 88

Figure 28: Wind Power Market, Canada, Turbine Market Share (%), 2014 ................................................... 90

Figure 29: Wind Power Market, Canada, Levelized Cost of Electricity ($/kW), 2014–2025 ............................ 92

Figure 30: Wind Power Market, Canada, Market Size ($bn) and Average Price ($/kW), 2014–2025.............. 94

Figure 31: Wind Power Market, South America, Installed Capacity (GW) and Growth (%), 2007–2025 ......... 97

Figure 32: Wind Power Market, South America, Cumulative Installed Capacity by Country (%), 2014 ........... 99

Figure 33: Wind Power Market, South America, Annual Power Generation (TWh) and Growth (%), 2007–2025

................................................................................................................................................. 100

Figure 34: Wind Power Market, South America, Average Turbine Size (MW), 2006–2020 .......................... 102

Figure 35: Wind Power Market, Brazil, Installed Capacity (MW) and Growth (%), 2007–2025 ..................... 104

Figure 36: Wind Power Market, Brazil, Annual Power Generation (GWh) and Growth (%), 2007–2025 ....... 106

Figure 37: Wind Power Market, Brazil, Average Turbine Size (MW), 2006–2020 ........................................ 110

Figure 38: Wind Power Market, Brazil, Turbine Market Share (%), 2014 ..................................................... 112

Figure 39: Wind Power Market, Brazil, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 .................. 113

Figure 40: Wind Power Market, Brazil, Market Size ($bn) and Average Price ($/kW), 2014–2025 ............... 115

Figure 41: Wind Power Market, Asia-Pacific, Installed Capacity (GW) and Growth (%), 2007–2025 ............ 118


Table of Contents


ANALYSIS TO 2025

Figure 42: Wind Power Market, Asia-Pacific, Cumulative Onshore and Offshore Installed Capacity (GW),

2007–2025 ................................................................................................................................ 120

Figure 43: Wind Power Market, Asia-Pacific, Cumulative Installed Capacity by Country (%), 2014.............. 122

Figure 44: Wind Power Market, Asia-Pacific, Annual Power Generation (TWh) and Growth (%), 2007–2025

................................................................................................................................................. 123

Figure 45: Wind Power Market, Asia-Pacific, Onshore and Offshore Power Generation (TWh), 2007–2025 125

Figure 46: Wind Power Market, Asia-Pacific, Average Turbine Size (MW), 2006–2020 ............................... 127

Figure 47: Wind Power Market, China, Installed Capacity (MW) and Growth (%), 2007–2025 ..................... 130

Figure 48: Wind Power Market, China, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–

2025.......................................................................................................................................... 132

Figure 49: Wind Power Market, China, Annual Power Generation (TWh) and Growth (%), 2007–2025 ....... 134

Figure 50: Wind Power Market, China, Annual Onshore and Offshore Power Generation (GWh), 2007–2025

................................................................................................................................................. 136

Figure 51: Wind Power Market, China, Average Turbine Size (MW), 2006–2020 ........................................ 140

Figure 52: Wind Power Market, China, Turbine Market Share (%), 2014 .................................................... 142

Figure 53: Onshore Wind Power Market, China, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ... 144

Figure 54: Offshore Wind Power Market, China, Levelized Cost of Electricity ($/kWh), 2014–2025 ............. 147

Figure 55: Wind Power Market, China, Market Size ($bn) and Average Price ($/kW), 2014–2025 ............... 149

Figure 56: Wind Power Market, India, Installed Capacity (GW) and Growth (%), 2007–2025 ...................... 152

Figure 57: Wind Power Market, India, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025

................................................................................................................................................. 154

Figure 58: Wind Power Market, India, Annual Power Generation (GWh) and Growth (%), 2007–2025 ........ 156

Figure 59: Wind Power Market, India, Annual Onshore and Offshore Power Generation (GWh), 2007–2025

................................................................................................................................................. 158

Figure 60: Wind Power Market, India, Average Turbine Size (MW), 2006–2020 ......................................... 162

Figure 61: Wind Power Market, India, Turbine Market Share (%), 2014 ...................................................... 164


Table of Contents


ANALYSIS TO 2025

Figure 62: Onshore Wind Power Market, India, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ..... 166

Figure 63: Wind Power Market, India, Market Size($bn) and Average Price ($/kW), 2014–2025 ................. 168

Figure 64: Wind Power Market, Europe, Installed Capacity (GW) and Growth (%), 2007–2025 ................... 171

Figure 65: Wind Power Market, Europe, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–

2025.......................................................................................................................................... 173

Figure 66: Wind Power Market, Europe, Cumulative Installed Capacity Share by Country (%), 2014 .......... 175

Figure 67: Wind Power Market, Europe, Annual Power Generation (TWh) and Growth (%), 2007–2025 ..... 176

Figure 68: Wind Power Market, Europe, Annual Onshore and Offshore Power Generation (TWh), 2007–2025

................................................................................................................................................. 178

Figure 69: Wind Power Market, Europe, Average Turbine Size (MW), 2006–2020 ...................................... 180

Figure 70: Wind Power Market, UK, Installed Capacity (GW) and Growth (%), 2007–2025 ......................... 183

Figure 71: Wind Power Market, UK, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–2025

................................................................................................................................................. 185

Figure 72: Wind Power Market, UK, Annual Power Generation (TWh) and Growth (%), 2007–2025 ........... 187

Figure 73: Wind Power Market, UK, Annual Power Generation (TWh), 2007–2025 ..................................... 189

Figure 74: Wind Power Market, UK, Average Turbine Size (MW), 2006–2020 ............................................ 193

Figure 75: Wind Power Market, UK, Turbine Market Share (%), 2014 ......................................................... 195

Figure 76: Onshore Wind Power Market, UK, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ........ 196

Figure 77: Offshore Wind Power Market, UK, Levelized Cost of ElectricityLCOE ($/kWh), 2014–2025 ........ 198

Figure 78: Wind Power Market, UK, Market Size ($bn) and Average Price ($/kW), 2014–2025 ................... 200

Figure 79: Wind Power Market, Germany, Installed Capacity (GW) and Growth (%), 2007–2025 ................ 203

Figure 80: Wind Power Market, Germany, Cumulative Onshore and Offshore Installed Capacity (GW), 2007–

2025.......................................................................................................................................... 205

Figure 81: Wind Power Market, Germany, Annual Power Generation (TWh) and Growth (%), 2007–2025 .. 207

Figure 82: Wind Power Market, Germany, Annual Onshore and Offshore Power Generation (TWh), 2007–

2025.......................................................................................................................................... 209


Table of Contents


ANALYSIS TO 2025

Figure 83: Wind Power Market, Germany, Average Turbine Size (MW), 2006–2020 ................................... 212

Figure 84: Wind Power Market, Germany, Turbine Market Share (%), 2014 ............................................... 214

Figure 85: Onshore Wind Power Market, Germany, Levelized Cost of Electricity ($/kWh), 2014–2025 ........ 216

Figure 86: Offshore Wind Power Market, Germany, Levelized Cost of Electricity ($/kWh), 2014–2025 ........ 218

Figure 87: Wind Power Market, Germany, Market Size ($bn) and Average Price (kW), 2014–2025 ............ 220

Figure 88: Wind Power Market, Middle East and Africa, Installed Capacity (GW) and Growth (%), 2007–2025

................................................................................................................................................. 223

Figure 89: Wind Power Market, Middle East and Africa, Installed Capacity by Country (%), 2014 ............... 225

Figure 90: Wind Power Market, Middle East and Africa, Annual Power Generation (TWh) and Growth (%),

2007–2025 ................................................................................................................................ 226

Figure 91: Wind Power Market, Middle East and Africa, Average Turbine Size (MW), 2006–2020 .............. 228

Figure 92: Wind Power Market, South Africa, Installed Capacity (MW) and Growth (%), 2007–2025 ........... 230

Figure 93: Wind Power Market, South Africa, Annual Power Generation (GWh), 2007–2025 ...................... 232

Figure 94: Wind Power Market, South Africa, Average Turbine Size (MW), 2006–2020 .............................. 235

Figure 95: Wind Power Market, South Africa, Turbine Market Share (%), 2014 ........................................... 237

Figure 96: Wind Power Market, South Africa, Levelized Cost of Electricity ($/kWh), 2014–2025 ................. 238

Figure 97: Wind Power Market, South Africa, Market Size ($bn) and Average Price ($/kW), 2014–2025 ..... 240



ANALYSIS TO 2025

Introduction

2 Introduction

2.1 Wind Power Market, Technology Definition

Wind power is an alternative source of energy generated from the flow of air currents through a

wind turbine. It is considered a clean source as it does not emit carbon.

A wind turbine harnesses kinetic energy in the wind and converts it into electricity for residential,

commercial and industrial purposes. A wind farm comprises a group of wind turbines (potentially

hundreds) in the same location, connected to an electric power transmission system.

Wind power is classified as either onshore or offshore depending on whether the wind farm is

located on land or in a large body of water.

2.2 Wind Power Market, Technology Overview

A wind turbine is a device that converts kinetic energy from wind into electricity, also known as a

wind generator, Wind Turbine Generator (WTG), wind power unit, wind energy converter, or

aerogenerator.

Wind turbines are broadly classified into two types according to their design:

Horizontal Axis Wind Turbine (HAWT)

Vertical Axis Wind Turbine (VAWT)

The HAWT is the most common and also the simplest type of wind turbine. Most operate on a

horizontal axis with three blades that are attached to a rotor, from which the electricity is transferred

to a generator though a gearbox, both of which are contained in a nacelle. Some turbines do not

have gearboxes and instead transfer electricity directly to the generator. Electricity is then

transmitted to the transformer and fed into the grid through transmission lines, resulting in efficient

and cost-effective turbine technology.

The VAWT, in which the main rotor shaft is arranged vertically, is less popular due to its lower

efficiency, meaning that it is largely sourced by individual inventors.



ANALYSIS TO 2025

Introduction

2.4 Report Guidance

The report begins with an executive summary, which gives a snapshot of wind power and the

wind power market.

The Introduction section provides a brief overview of wind power technology, covering the

different types of turbines.

The Wind Power Market, Global section details global wind power developments during the

2007–2014 historic period, and expected market trends during the 2015–2025 forecast period.

It starts with an overview of the global market, covering parameters such as market size, power

capacity and generation data, cost analysis, market size and market share. Average turbine

size is provided for the 2006–2025 period.

Section four gives details on the North American market. Regional average turbine sizes,

average capex, market size, total wind installed capacity and generation along with split by

onshore and offshore types of installation are provided. The US and Canada are covered

under this section.

Section five gives details on the Europe market. Regional average turbine sizes, average

capex, market size, total wind installed capacity and generation along with split by onshore and

offshore types of installation are provided. Germany and the UK are covered in this section.

Section six gives details on the Asia-Pacific market. Regional average turbine sizes, average

capex, market size, total wind installed capacity and generation along with split by onshore and

offshore types of installation are provided. China and India are covered in this section.

Section seven gives details on the South America market. Regional average turbine sizes,

average capex, market size, total wind installed capacity and generation along with split by

onshore and offshore types of installation are provided. Brazil is covered in this section.

Section eight gives details on the Middle East and Africa market. Regional average turbine

sizes, average capex, market size, total wind installed capacity and generation along with split

by onshore and offshore types of installation are provided. South Africa is covered in this

section.


Wind Power Market, Global


ANALYSIS TO 2025

3 Wind Power Market, Global

3.1 Wind Power Market, Global, Overview

Wind is one the fastest growing energy sources in the world. From an emerging fuel source XX

years ago, it has transformed into a commercial electricity-generating technology in more than XX

countries. Technological developments have paved the way for more effective and reliable

equipment and machinery, making wind one of the fastest-growing energy sources globally. The

exponential growth of the wind energy market is fueled by depleting fossil fuel reserves, the

declining cost of wind power generation, and growing environmental awareness, and is being

supported by financial incentives from many governments.

The global wind power market consists primarily of onshore power capacity. However, a great deal

of potential for offshore wind installations exists. If the offshore market is properly developed, it has

the potential to meet seven times the energy demands of Europe and four times that of the US.

Offshore wind technology is currently at a nascent stage of development; construction costs are

high and more advanced materials and equipment are required. Despite this, many governments

worldwide have incorporated offshore wind in their energy plans.

More than XX% of the global offshore wind power is installed in the water bodies of Northern

Europe, and this has helped the region to keep pace with its binding targets of deriving XX% of its

energy consumption from renewable energy sources.

3.2 Wind Power Market, Global, Installed Capacity, 2007–2025

The global wind power market has grown rapidly in the past few years, with annual installations

increasing from XX GW in 2008 to XX GW in 2014. Global installed wind capacity has almost

doubled every three years since 2001. Growth in the installed capacity during the historical period

was driven largely by the favorable government policies for wind power in major wind power

countries such as China, the US, Germany, Spain, the UK and India.

The outlook for the wind energy sector appears bright, although future growth is expected to slow

during the forecast period. This is mainly due to continuing uncertainties in the US market and the

maturing European market. Wind installations will continue to expand in the forecast period though,

mainly driven by the Asia-Pacific (APAC) region. APAC was the fastest growing wind market in

2014, and will continue as such in the forecast period due to large-scale installations in China


Wind Power Market, Global


ANALYSIS TO 2025

(although there will be slowdown in comparison to the historical period) and sustainable future

growth in India, Australia, Japan, South Korea, the Philippines, Thailand and Taiwan. Wind

installations will also gain momentum in the South and Central America region, with countries such

as Argentina, Brazil, Chile, Columbia and Mexico adding up XX GW during 2015–2025. The Middle

East and Africa region, which is presently at a nascent stage of wind market development, will be

the other significant contributor to capacity. South Africa, Morocco and Egypt have substantial wind

resources, indicating strong growth in the forecast period. Against this backdrop, the cumulative

global wind installed capacity will grow to XX GW by 2025, at a Compound Annual Growth Rate

(CAGR) of XX%.

Figure 1: Wind Power Market, Global, Installed Capacity (GW) and Growth (%), 2007–2025

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

YoY

gro

wth

(%

)

Inst

alle

d ca

paci

ty (G

W)

Cumulative installed capacity Annual installed capacity YoY growth

Source: GlobalData, Capacity and Generation Database [Accessed on April 22, 2015] YoY: Year-on-Year



ANALYSIS TO 2025

Wind Power Market, North America

4.4 Wind Power Market, North America, Cumulative Installed Capacity by Country, 2014

The US accounted for an XX% share of North American installed wind capacity in 2014, which is

expected to reduce to XX% by 2025 as Canada and Mexico will both increase their installed

capacity. Canada accounted for XX% of the total wind capacity which would increase to XX% by

2025 and Mexico’s installed capacity share would increase from XX% in 2014 to XX% by 2025.

Figure 13: Wind Power Market, North America, Cumulative Installed Capacity by Country (%), 2014

US

CanadaMexico

Source: GlobalData, Capacity and Generation Database [Accessed on April 22, 2015]

Table 13: Wind Power Market, North America, Cumulative Installed Capacity by Country (%), 2014 Country Share

US

Canada

Mexico

Source: GlobalData, Capacity and Generation Database [Accessed on April 22, 2015]


Appendix


ANALYSIS TO 2025

9 Appendix

9.1 Abbreviations

Table 124: Abbreviations Abbreviation Definition

AC Alternating Current

APAC Asia-Pacific

CAGR Compound Annual Growth Rate

capex capital expenditure

CUF Capacity Utilization Factor

DC Direct Current

DR Depreciation Rate

EEG Erneuerbare Energie Gesetz

EPA Environmental Protection Agency

EPC Engineering, Procurement and Construction

FiT Feed-in Tariff

FTC Federal Tax Credits

GBI Generation-Based Incentives

GW Gigawatt

HAWT Horizontal Axis Wind Turbine

kW kilowatt

kWh kilowatt-hour

LCOE Levelized Cost of Electricity

LCPD Large Combustion Plant Directive

MW Megawatt

MWh Megawatt-hour

PTC Production Tax Credit

RPS Renewable Portfolio Standards

TWh Terawatt-hour

VAWT Vertical Axis Wind Turbine

WTG Wind Turbine Generator

YoY Year-on-Year

Source: GlobalData


Appendix


ANALYSIS TO 2025

9.2 Research Methodology

GlobalData’s dedicated research and analysis teams consist of experienced professionals with

advanced statistical expertise and marketing, market research and consulting backgrounds in the

energy industry.

GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and

Strategic and Competitive Intelligence Professionals (www.scip.org).

All of GlobalData’s databases are continuously updated and revised. The following methodology

has been followed for the collection and analysis of data presented in this report.

9.2.1 Report Coverage

The report includes:

The report provides information at global level. The regions covered in the report are Asia-

Pacific, South America, Europe, Middle East and Africa, and North America. The key countries

covered in the report are China, US, UK, Germany, India, Canada, South Africa and Brazil.

Historic and forecasts for cumulative and annual wind power capacity installed and power

generation during 2007–2025. Installed capacity and power generation has been provided by

onshore and offshore type as well. This has been provided at global level, regional level and

for all the key countries covered in the report.

Average turbine size for onshore and offshore type of installation for 2006–2020, along with the

major turbine manufacturers in 2014 has been provided for key countries and at the global

level. Average turbine size forecast has been provided at regional level as well.

Coverage of the key growth drivers and challenges related to the global wind power market.

Capital cost and market size of the wind power installation is provided at key country and

global level. Along with this, the top active and upcoming wind power plants are provided.


Appendix


ANALYSIS TO 2025

9.2.2 Secondary Research

The research process begins with extensive secondary research using GlobalData's proprietary

databases and external sources.

Investment estimates and market growth rates are determined by taking the following into

consideration:

Company websites: whitepapers, press releases, news and annual reports

Industry trade journals, magazines and other literature: news articles and research studies

Industry associations, energy agencies and other government bodies

Internal proprietary databases such as our alternative energy eTrack and power eTrack

Information related to average price of towers, production capacity and actual production of tower

manufacturers individually and collectively in each country, has been obtained through extensive

secondary research.

9.2.3 Primary Research

GlobalData conducts extensive primary interviews with industry participants and commentators in

order to validate its data and analysis.

A typical research interview fulfills the following functions:

Obtains the interviewee’s perspective on the market size, growth trends, competitive landscape

and future outlook

Validates secondary research findings

Further develop the analysis team’s expertise and market understanding

Key representatives of independent tower and WTG manufacturing companies have been

interviewed in order to perform the cost analysis of wind turbine towers and also to validate the

data and analysis of average price, production capacity and production numbers of companies that

have further been used in calculating market shares.


Appendix


ANALYSIS TO 2025

9.2.4 Market Estimates and Assumptions

The following are the data points that are estimated or sourced through primary and secondary

research.

The installed capacities have been taken from GlobalData’s proprietary database, which is

continuously updated with historic, current and forecast numbers. These updates are made through

extensive primary and secondary research and by contacting several industry associations and

government energy agencies. The average turbine sizes are taken from GlobalData’s asset sheets,

which are lists of wind farms in all major countries with details of each wind farm.

9.3 Disclaimer

All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any

form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior

permission of the publisher, GlobalData.

wind power market, update 2015 – global ...reference code gdae1099mar | publication date june 2015...

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