Wind Energy Storms Energy Sector - Cumulative Capacity to Exceed 360 Thousand Megawatts by 2015, According to New Report by Global Industry Analysts, Inc.
Driven by rising demand for renewable energy sources, the world wind energy market is expected to grow at gutsy speed to generate over 360 thousand megawatts of energy by the end of 2015. Further, harnessing the power of the wind will generate approximately 12% of the world's electricity by the year 2020.
San Jose, California (PRWEB) July 16, 2007 -- A new report on wind energy has been released by Global Industry Analysts, Inc. "Wind Energy: A Global Strategic Business Report" has detailed analysis and coverage of the US, Canada, Japan, Europe (Germany, Spain, Denmark, Italy, United Kingdom, The Netherlands, Greece, France, Portugal, Austria, and Rest of Europe), Asia-Pacific (India, China, Australia and Rest of Asia-Pacific), Africa/The Middle East, and Latin America markets. The report highlights major trends and issues, evolving trends in power generation, factors influencing the market, and regulatory environment.
As an evolving industry, and the fastest growing segment of the energy sector, wind power is poised to make significant contributions in energy generation in the upcoming years. Europe, world's largest market for wind energy, is expected to harness close to 169 thousand megawatts of energy from the winds by the year 2015 from projected 85 thousand megawatts in 2010. Germany is the single largest market in Europe as well as worldwide, accounting for about 28% of global wind energy capacity in 2006. Spain is the other major regional market, with cumulative installed capacity of nearly 11.7 thousand megawatts in 2006. Catching up with the soaring winds, installed capacity in the United States is expected to reach 29 thousand megawatts by 2010. Significant potential exists in emerging wind energy markets such as China, Australia, Brazil, Canada, and Japan, which are expected to register 30%-40% CAGR over the next seven to ten years.
Wind Energy: A Global Strategic Business Report
Wind energy is emerging, and constantly changing proportions since its emergence. The evolving outlook for wind energy can be captured in one word: "Green". With conservation as their watchword, countries across the globe are placing their bets on sustainable wind energy. Although the market is expected to face several competitive, and structural challenges, apart from the meltdown in the global economy, wind energy flaunts the potential to survive the uncertainties currently plaguing the overall energy market. Recent strategic developments in the wind industry, the vibrant new power project undertakings, and upgradation activities, the cumulative increment in new capacity installations in the recent past, and the shift in governmental energy plans, all call for buoyant market forecasts. The main trends of the forecast are continuing strong development in Europe, and an increasing interest in wind energy in "Rest of the World".
The uncertainty and unrest in the energy sector, the rapidly depleting natural resources, together with, the political pressures, and environmental issues, are shedding the light on the rapidly evolving role of clean technologies, such as wind power, solar energy, fuel-celled power automobiles, and other bio-based materials. As the investment climate for clean technologies clears, the clean energy market will witness a torrent of venture funds, as energy companies begin to vie for a stake in clean technologies. Wind and solar power, presently, constitute the most widespread cost-competitive solution, to the current energy crises.
"Winds" are increasingly becoming an economic commodity, a crop that can be harvested unruffled by climatic variations, market prices, bureaucracy or red tapeism. A small but a rapidly growing number of farmers, and commercial energy companies, around the world, are being swept away by this irresistibly gusty concept. Harvesting the wind is, in fact, more profitable than cultivating traditional crops, and allows farmers to generate income from both the sources simultaneously, as wind turbines occupy less than 2% of the land meant for agricultural purposes. The global wind industry stands at the forefront of an era, where renewable, clean energy sources, will become an invaluable investment opportunity for energy companies. With customers becoming increasingly apprehensive about the environmental impact of the traditional fossil fuels, long-term survival of power companies hinges upon promoting, and developing other energy alternatives that are emission free, renewable and eco-friendly.
Major players in the global wind energy market include American Electric Power, American National Wind Power Inc., AES Corporation, Cielo Wind Power, GE Wind Energy, ENEL Greenpower, Enercon, FPL Energy, Gamesa, Green Mountain Energy Company, Navitas Energy, National Energy & Gas Transmission, Pacific Hydro Pty Ltd, Shell WindEnergy Inc., Suncor Energy Inc., Suzlon Energy Limited, TXU Energy, and Siemens.
For more details about this research report, please visit strategyr.com |
