The United States was the second-largest market for wind with a total cumulative installed capacity of 105.5 GW in 2019. Despite being the second-largest market, the United States depends on China for numerous components present inside the nacelle, such as transformers, converters and inverters, which is likely to cause prices to rise, according to GlobalData,…
Renewables to double in total installed capacity in the U.S. by 2030, finds GlobalData
The contribution of renewable power to total installed capacity in the U.S. is expected to double from 15% in 2018 to 30% by 2030, reaching a total of 442.8 GW. Representing a compound annual growth rate (CAGR) of 7.3%, this projection can be attributed to more states adopting and updating renewable energy policies, as well as…
Insurance industry’s anti-coal stance to deliver long-term climate benefits, finds GlobalData
Insurers are providing cover less frequently for energy providers that remain committed to the use of coal to help reduce climate change and force the energy industry to embrace renewables. While insurers stand to lose business in the short term, the long-term benefits to the industry could be considerable, finds GlobalData, a leading data and…
Global energy storage market expected to reach 22.2 GW in 2023, finds GlobalData
The energy storage market has caught the eye of a number of stakeholders involved in the power industry, leading to its considerable growth and opening the way for next energy revolution, says GlobalData, a leading data and analytics company. In its latest report, GlobalData has found that the energy storage market is nascent but fast-growing.…
Global battery storage market to reach $13.13bn by 2023, says GlobalData
The global battery energy storage market is forecast to grow to $13.13bn by 2023. Asia-Pacific (APAC) and EMEA will be the dominant markets for battery energy storage systems over the forecast period 2019-2023, according to GlobalData, a data and analytics company. The company’s latest report Battery Energy Storage Market, Update 2019 reveals that the fall in…
Vestas re-establishes leading position as global wind-turbine manufacturer, finds GlobalData
Vestas Wind Systems A/S has re-established itself as the leading manufacturer for wind turbines with over 10 GW, or 19.6% share, of global installations in 2018. This is according to new research from GlobalData, a leading data and analytics company. “Vestas has been among the top wind turbine manufacturers and has grown organically,” said Ankit…
Microgrid investment in blockchain future of energy systems, says GlobalData
Blockchain microgrids have become a pivotal theme in the rapidly developing energy sector. Amit Sharma, Power Analyst at GlobalData, a global data and analytics company, offers his view on this development and what we can expect from blockchain microgrids in the future: “The global microgrid market size is estimated to grow at a compound annual…
U.S. among countries with strong market for wind-turbine gearbox refurbishments, finds GlobalData
Data and analytics company, GlobalData, has released its latest report, Wind Gearbox and Direct Drive, Update 2018, which reveals that the global trends of wind power are creating business opportunities for new and refurbishment markets. It states that prominent markets such as China, the U.S., and EU, which had made significant strides in the wind market, are…
Global IoT market to reach $318 billion by 2023, says GlobalData
The global market for Internet of Things (IoT) technology, which consists of software, services, connectivity, and devices, reached $130bn in 2018. According to data and analytics company, Global Data, it is projected to reach $318bn by 2023, at a compound annual growth rate (CAGR) of 20%. While IoT devices and connectivity get a lot of…
Global wind-turbine market value estimated at $47.83bn by 2022
According to a recent report by GlobalData, the global wind-turbines market is set to be valued at $47.83bn annually by 2022, with the Asia-Pacific region leading the way. This marks a global increase from 2017’s figure of $44.75bn that is expected to be driven largely by onshore deployment. The report, entitled “Wind Turbines, Update 2018…
Non-hydro renewables, particularly offshore wind, to dominate Germany’s power sector
Phasing out nuclear energy in Germany by 2022 will set the way for non-hydro renewable technologies to dominate its power sector in the future, according to GlobalData, a data and analytics company. The company’s latest report, “Germany Power Market Outlook to 2030, Update 2018 – Market Trends, Regulations, and Competitive Landscape’” reveals that the phasing out of the nuclear…
Companies spending more on IoT & digital twin technology, says GlobalData
New research from GlobalData reveals a significant shift toward Artificial Intelligence (AI) and big data platform spending among IT practitioners. Brad Shimmin, Service Director at GlobalData, a data and analytics company, offers his view on this finding and the future of digital transformation. “If the last few years has shown anything it’s that the Internet of…
Global wind-turbine foundations market to reach $7.2 billion by 2022, says GlobalData
The global wind-turbine foundations market registered a market value of $5.7 billion in 2017 and is expected to reach $7.2 billion in 2022, largely driven by renewable energy auctions, supportive government policies, decreasing operations, and maintenance costs, and feed-in tariffs, according to GlobalData, a data and analytics company. The company’s latest report: ‘Wind Turbine Foundations, Update…
Siemens Gamesa led as top wind equipment manufacturer in 2017, surpassing Vestas
Siemens Gamesa Renewable Energy (SGRE) claimed the top spot for the wind-turbine manufacturing sphere in 2017, managing to install an impressive 9.43 GW, according to GlobalData, a leading data and analytics company. This means SGRE overtook Vestas for the lead, which ranked second with 7.52 GW of installations in 2017, SGRE gained ground with a 26.4% rise…
Global wind O&M market set to hit $27.4 billion by 2025
The global wind operations and maintenance (O&M) market is set to grow from just over $13.7 billion in 2016 to around $27.4 billion by 2025, representing a compound annual growth rate of 8.0%, according to research and consulting firm GlobalData. The company’s latest report states that the O&M of a wind farm is essential as it contributes…
Wind turbines market will peak at $81 billion in 2019 before falling in 2020, says GlobalData
The global wind-turbine market is set to experience a degree of turbulence over the next few years, rising steadily from $76.54 billion in 2015 to $81.14 billion in 2019, and dipping to $71.21 billion in 2020, according to research and consulting firm GlobalData. The company’s latest report states that technological developments have paved the way…
Global boilers, turbines, and generators market will decline to $241 billion during 2016 to 2020, says GlobalData
The global market for boilers, turbines, and generators (BTG) is set to decrease from a cumulative $318 billion during the period 2010-2015, to $241 billion during 2016 to 2020, as capacity installation from thermal fuels continues to decline. This is due to an increased focus on renewable energy sources and environmental issues associated with fossil…
South Africa touted as new hotspot for wind-power installation, says GlobalData
South Africa is the new hotspot for wind installation and has great potential for capacity addition over the next four years. Over 3 GW is expected to be installed by 2020, bringing the country’s cumulative capacity up to 5.6 GW, according to research and consulting firm GlobalData. The company’s latest report states that until 2012…
Global battery energy-storage system installed capacity will exceed 14 GW by 2020
Global battery energy-storage system (BESS) installed capacity is set to grow from 1.5 GW in 2015 to over 14 GW by 2020, according to research and consulting firm GlobalData. Large numbers of projects are planned to be commissioned over the forecast period due to increasing renewable installations and focus on grid stability. The company’s latest…
Global wind O&M market set for growth to $17 billion by 2020, says GlobalData
The global wind Operations and Maintenance (O&M) is estimated to increase from $10 billion in 2015 to $17 billion by 2020, at a compound annual growth rate of 11.2%, according to research and consulting firm GlobalData. The company’s latest viewpoint states that technological developments have paved the way for more effective and reliable equipment and…