Greater Consolidation for the Wind Energy Market with Fewer but Stronger Participants
The European wind energy market is just starting to recover from the economic downturn in 2009. As demand stabilises, steady growth is forecast. At the same time, the market is poised for greater consolidation that will result in the emergence of fewer but stronger participants. New analysis from Frost & Sullivan (http://www.energy.frost.com), European Wind Energy Markets, finds that the market earned revenue of $19.18 billion in 2010 and estimates this to reach $42.48 billion in 2017. The application sectors covered in this research service are offshore and onshore wind energy. "Europe's wind energy market is primarily driven by the European Union's renewable energy agenda to meet 20 per cent of its energy needs through renewable sources by 2020," notes Frost & Sullivan Research Analyst Neelam Patil. "The high growth potential of offshore wind energy, coupled with the emerging markets of Central and Eastern Europe (CEE) are attracting investments in the European market."
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