According to a recent report from Navigant Research, within the next four years wind power will provide more than 7 percent of the world’s power needs. Despite slowed growth in the United States and Spain, the wind power market expanded significantly in 2013. Currently, wind power supplies almost 3 percent of the world’s electricity.
Navigant Research’s research director Feng Zhao notes, “Last year was the first in which the wind industry experienced negative growth since 2004, but there are signs that the 2013 slowdown will turn out to be an anomaly. As wind turbine vendors search for new opportunities in emerging markets, primarily in Latin America and Africa, and develop machines for maximum energy production in low wind speed areas, the industry is expected to add another 250 gigawatts of capacity through 2018.”
The report forecasts that an important driver of renewable wind power will be the offshore market. In 2013 there were 13 new projects installed in 2013 that added 1,720 megawatts, representing a 50 percent increase over 2012. Nearly half of all new offshore capacity in 2013 was installed in the United Kingdom and all of that capacity was supplied by Siemens, the world’s largest supplier of offshore turbines.
Navigant Research’s “BTM Wind Report” analyzes changes over the last three years and provides a five-year market forecast, as well as an assessment of likely market progress for the next five years. The focus of this year’s report is reviewing the global onshore wind operations and maintenance market.
An Executive Summary of the report is available for free download on the Navigant Research website.