The North American wind energy industry is said to lag in key areas compared to Europe and Asia, but many key industry players are optimistic about the Canda and U.S. market as turbine costs continue to drop. In 2010, a total of 5,784 MW of wind capacity was installed in the region. It currently accounts for more than 22% of the world’s total installed wind capacity and is home to the second largest wind market. As a region, North America fell to third place in cumulative installations in 2009 behind Asia Pacific and Europe. Pike Research expects installations in the region to reach 125 GW by 2017, with offshore installations accounting for fewer than 3% of that total. The analysts anticipate that 2011 will be another difficult year for the industry in Canada and the U.S., however it does see tentative signs of recovery.
Canada will reach 15 GW of total wind capacity by 2017, with more than 400 MW of that amount derived from offshore installations, where costs will total $19.3 billion between 2011 and 2017. In the midst of this market transition, turbine manufacturer market shares are fluid.
In 2010, Chinese wind turbine manufacturer Sinovel overtook GE Wind Energy to become the second largest wind turbine supplier worldwide, and came in at less than 1% (350 MW) behind industry leader Vestas.
Report authors say the work provides an in-depth analysis of North American opportunities in the onshore and offshore wind power markets, as well as an examination of key challenges facing the industry. It examines technology innovations that will influence the future direction of the market, and also features detailed profiles of key industry players, including a competitive regional analysis of the major wind energy markets across their respective technology, policy, and capital environments. Market forecasts extend through 2017 and include projections for installed capacity, installation costs, and offshore production revenue, all segmented by onshore, offshore, region, and country. The authors say the report provides:
- An outlook for onshore and offshore wind installations in North America over the next six years – and the key market drivers
- How the global financial crisis and recession affects the North American wind energy market relative to other regions
- How the technology, policy, and capital environments compare across North America, Asia Pacific, and Europe
- How Chinese turbine manufacturers’ international expansion will affect the North American market for wind turbines
- An evaluation of grid parity
- How much it costs to install wind turbines in Canada and the U.S.
- The leaders in the push to larger wind turbines and where are they being deployed
- Key barriers and opportunities that will shape the North American wind energy market
- The amount of capital that will be invested in North American wind installations by 2017
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