China took the global wind market to new heights in 2015, as it represented almost half of the new global wind installations, with a total annual wind capacity of 30.5 GW, according to research and consulting firm GlobalData. The company’s latest viewpoint* states that the next largest wind capacity installer in 2015 was the US,…
China’s wind-power installed capacity will escalate to 495 GW by 2030, says GlobalData
Wind power installed capacity in China will more than treble from approximately 149 Gigawatts (GW) in 2015 to over 495 GW by 2030, representing a Compound Annual Growth Rate (CAGR) of 9%, according to research and consulting firm GlobalData. The company’s latest report* states that China has the highest wind power globally by far, accounting…
Xinjiang Goldwind overtook Vestas as world’s top wind-turbine producer in 2015
Xinjiang Goldwind Science & Technology overtook Vestas Wind Systems as top global producer of wind turbines in 2015, Xinjiang Goldwind installed 7.73 GW, thanks to its stable development in the Chinese wind-power sector and the rising demand for turbines, according to research and consulting firm GlobalData. Expected adjustments to the wind-power Feed-in Tariff (FiT) in…
Despite pricing pressures, global switchgear market will approach $84B by 2020, says GlobalData
GlobalData’s report indicates that overall market growth will remain strong, with China continuing to lead the way, particularly in the high-voltage switchgear space, which is expected to increase from $17.4B to $35.8B in the forecast period. This increase represents an impressive CAGR of 15.6%, and is indicative of the country’s commitment to bringing its grid infrastructure up to date.
COP21 pledges require significant work to achieve climate-change goals, says GlobalData
The ambitious Paris Agreement reached at the recent United Nations’ 21st Conference of the Parties (COP21), which ultimately aims to limit the increase in global average temperatures to below 1.5 Celsius degrees from pre-industrial levels, will require substantial efforts from its signatories if the desired results are to be achieved, says an analyst with research and consulting firm GlobalData.
Renewables will boost Japan’s installed capacity to 390 GW by 2025, says GlobalData
Japan’s cumulative installed capacity will rise from 317.5 gigawatts (GW) in 2014 to an estimated 389.8 GW by 2025, representing a moderate Compound Annual Growth Rate (CAGR) of 1.9%, according to research and consulting firm GlobalData. The company’s latest report states that while thermal sources will contribute the majority of installed capacity, with an expected overall…
Government policies will remain key to Europe’s renewable energy growth thru 2020
Renewable energy support methods, such as Feed-in Tariffs (FIT), quota obligations, capital grants, and subsidies, will continue to be instrumental in promoting Europe’s renewable energy industry growth by 2020, according to research and consulting firm GlobalData. The company’s latest report states that of the various support mechanisms in Europe, FIT’s have emerged as a particularly…
How has wind-turbine O&M changed over the last couple of years?
Global expenditure for wind turbines Operations and Maintenance (O&M) is expected to rise from $9.25 billion in 2014 to an estimated $17 billion by 2020, according to research and consulting firm GlobalData. The increasing number of installations and aging turbines are the primary cause for the predicted price hike. A wind farm’s O&M is an…
GlobalData: U.S. Clean Power Plan could reduce coal power by up to 60 GW by 2020
The U.S. government’s recently-announced Clean Power Plan (CPP) will have a negative impact on the country’s coal industry, with the potential loss of up to 60 Gigawatts (GW) of coal power capacity by 2020, according to an analyst with research and consulting firm GlobalData. Pavan Vyakaranam, GlobalData’s Associate Project Manager covering Power, says that of…
GlobalData: UK government’s renewable energy policies to hit investment in short term
While the UK government’s recent decision to remove renewable energy sources from Climate Change Levy (CCL) exemption will generate around £490 million (approx. $767 million) by 2016 and up to £1 billion (approx. $1.5 billion) per year by 2020, the policy will have a negative impact on the country’s renewable sector, says an analyst with…
UK to remain top offshore wind market by 2025, says GlobalData
The UK will remain the leading offshore wind power market globally by 2025, with its installed capacity increasing from 4.5 GW in 2014 to 23.2 GW by the end of the forecast period, representing an impressive Compound Annual Growth Rate (CAGR) of 30.5%, says research and consulting firm GlobalData. The company’s latest report states that…
China’s wind power to triple by 2025, says GlobalData
While China’s installed wind capacity will triple from 115.6 Gigawatts (GW) in 2014 to an estimated 347.2 GW by 2025, global growth will begin to level off towards the end of the forecast period, with annual installations peaking at 56.8 GW in 2022, says research and consulting firm GlobalData. The company’s latest report states that China’s…
Germany will lead offshore wind installations in 2015 as UK loses top spot, says GlobalData
Germany will become the world’s leading market for annual offshore wind turbine installations in 2015, with the country set to add an impressive 2,071 megawatts (MW) this year, an almost fourfold increase from the 529 MW added in 2014. According to research and consulting firm GlobalData’s latest report, global annual offshore wind installations will more…
Global wind turbine O&M expenditure to hit $17 billion by 2020, says GlobalData
Global expenditure for wind turbine Operations and Maintenance (O&M) will rise from $9.25 billion in 2014 to an estimated $17 billion by 2020, driven by increasing numbers of installations and aging turbines, according to research and consulting firm GlobalData. The company’s latest report* states that on average, offshore O&M is two to four times more…
Siemens surges, but Vestas Wind Systems remains top wind turbine installer in 2014
Wind turbine manufacturer Vestas Wind Systems has maintained its position as the world-leading wind turbine installer in 2014, having achieved global capacity installations of just over 6,053 megawatts (MW), according to research and consulting firm GlobalData. The company’s latest findings also show that of the world’s top five wind turbine installers in 2014, Siemens has…
Global market value for offshore wind installation vessels to $2.93 billion by 2020, says GlobalData
The global market value for offshore wind turbine and foundation installation vessels will increase more than fivefold, from an estimated $0.56 billion in 2014 to about $2.93 billion by 2020, representing an impressive Compound Annual Growth Rate (CAGR) of 30%, says research and consulting firm GlobalData. The company’s latest report ($3995 for a single-user license)…
Report identifies Denmark as a leading wind power market
Extensive government support and wind turbine technology modernization will assist the continued growth of Denmark’s cumulative offshore wind power installed capacity, from 1.27 GW in 2013 to 2.24 GW by 2020, according to research and consulting firm GlobalData. The company’s report, Offshore Wind Turbines and Foundations – Global Market Size, Market Share, Regulations and Key Country…
UK a global offshore, wind-power market leader, with significant growth expected thru 2020, says GlobalData
Supported by aggressive renewable targets, policy backing, and a shift towards a greener climate, the UK propelled itself to the head of the global offshore wind power market in 2013, boasting a cumulative installed capacity share of around 52%, according to research and consulting firm GlobalData. The company’s latest report* says the UK’s cumulative offshore…
GlobalData report concludes wind turbine towers market will keep growing, despite poor grid infrastructure
Research and consulting firm GlobalData issued a new report recently stating that the wind turbine towers market is expected to increase from $12.1 billion in 2013 to $19.3 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 6.9%. According to the company’s report, China had the largest amount of wind turbine towers installed…
Renewable energy to represent 20% of global installed capacity by 2030
The global renewable capacity is estimated to reach 2,055 GW in 2030, growing at a Compound Annual Growth Rate (CAGR) of 8.2% from 2013 to 2030, but thermal energy will continue to be the dominant source of power generation for the foreseeable future, according to the latest forecast from research and consulting firm GlobalData. The…