With strong onshore and offshore turbine sales, Vestas remained the No. 1 supplier in 2014, report finds
BOULDER, Colo.--A recent report from Navigant Research covers developments in the wind energy sector during 2014, including an analysis of the important changes in the industry over the last 3 years and global market forecasts through 2019.
Following 2013's 20% global decrease in wind power installations, the wind energy industry saw new signs of strength in 2014. With installations growing by 42% year-over-year in 2014, supported largely by policies in China, Germany, and the United States, the market is poised for further growth in the next couple of years. Click to tweet: According to a recent report from Navigant Research, 2015 wind power capacity installations are expected to grow by 8.9%.
"Moderate growth in the next 2 years is expected, but as wind incentives begin to adjust downward, particularly in China and Germany, fluctuation is also on the horizon," says Jesse Broehl, senior research analyst with Navigant Research. "While U.S. wind incentives reinstated in early 2013 are coming to fruition through an extended 2014-2016 build cycle, Germany is expected to see a substantial drop in installations in 2015 due to changes to its incentive structures, and China, the world's largest market in 2014, has started implementing more market-oriented feed-in tariff rates."
In terms of turbine supplier rankings, Vestas once again secured the No. 1 position after strong sales both onshore and offshore, according to the report. Siemens, which jumped from two positions to take second place in 2014, was expected to have challenged Vestas' position had more planned offshore wind been fully commissioned and grid-connected.
The World Wind Energy Market Update 2015 covers developments in the wind energy sector during 2014. As in previous editions, this report assesses important changes over the last 3 years and provides a 5-year market forecast, followed by a projection of likely market progress for the next 5 years. This 20th annual edition of the World Wind Energy Market Update includes a special report highlighting advances occurring in the wind blade market through three expert commentary and analysis submissions. Another key component of this report is an assessment of the separate demand and supply dynamics in wind markets globally and an analysis of wind turbine vendor market activity derived largely from wind turbine installation data provided by the wind turbine vendors. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant is a specialized, global professional services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients' needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com.