Global Outlook of the Wind Energy Market: Current Status and Future Direction Georgina Benedetti, Industry Analyst Nicolas Escasany, Research Associate Energy & Power Systems February 2, 2011 Frost & Sullivan’s Growth Consulting can assist with your growth strategies
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Global Outlook of the Wind Energy Market: Current Status and Future Direction
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Global Outlook of the Wind Energy Market: Current Status and Future Direction
Georgina Benedetti, Industry AnalystNicolas Escasany, Research Associate
Energy & Power Systems February 2, 2011
Frost & Sullivan’s Growth Consulting can assist with your growth strategies
2
Today’s Presenters
Georgina Benedetti,
Industry AnalystFrost & Sullivan
Nicolas Escasany,
Research AssociateFrost & Sullivan
3
Focus Points
• Overview of the Wind Power Markets
• Wind Power Market Drivers and Restraints
• Wind Power Market Status and Forecasts
• Ranking of Major Participants
• Market Trends Analysis
4
Market Overview
• The global wind power market has experienced tremendous growth during the last three years.
• The market has been driven by government concerns about energy security and independence, rising
energy prices; volatility of fuel costs; and government incentives on renewable energy.
• Revenues declined in 2010 as a consequence of the lower demand and the reduction of wind turbine
prices due to the global economic crisis.
• Installed capacity reached 194 GW by the end of 2010.
• APAC is projected to become the main location for new wind power installation, increasing almost five
times their installed capacity by the end of the forecast period.
• Wind turbine prices dropped 16.1% as compared to peak values in 2008, primarily due to the reduced
demand caused by the global economic downturn.
• Major wind turbine suppliers: Vestas, Sinovel, and Enercon. Together they accounted for 37.0% of the
Wind Power Market: Evolution of Average Turbine Size (World), 2000-2010
Note: All figures are rounded; the base year is 2010. Source: Frost & Sullivan analysis.
The average power output has increased from 500 kW in 1996 to about 3 MW in 2010.
Turbine sizes are expected to grow significantly and the capacity of typical offshore wind turbines will be
between 5 MW and 10 MW
Design drivers for wind technology: maximum efficiency, reliability, grid compatibility, noise reduction,
aerodynamic performance, high productivity for low wind speeds, and offshore expansion.
The average power output has increased from 500 kW in 1996 to about 3 MW in 2010.
Turbine sizes are expected to grow significantly and the capacity of typical offshore wind turbines will be
between 5 MW and 10 MW
Design drivers for wind technology: maximum efficiency, reliability, grid compatibility, noise reduction,
aerodynamic performance, high productivity for low wind speeds, and offshore expansion.
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Wind Turbine Configuration
Direct Drive Wind Turbines
• Direct drive wind turbines: up to 10 percent more expensive than traditional geared wind turbines.
• However, O&M cost of direct drive wind turbines is about 30 to 40 percent lower.
• In 2010, between 10% and 15% of the total wind turbines installed were gearless.
Note: All figures are rounded; the base year is 2010. Source: Frost & Sullivan analysis.
Wind Power Market: Main Direct Drive Wind Turbine Generator Manufacturers (World), 2010
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Wind Turbine Capital Cost
• Wind turbines require large initial investment compared to conventional energy technologies.
• In 2010 wind turbine prices dropped 16.1%, as compared to the peak values in 2008.
• It is expected that WTG prices will remain stable during 2011.
• Beyond 2012, prices will slightly increase as the global economy recovers and wind power demand
returns to its previous growth rates.
Note: All figures are rounded; the base year is 2010. Source: Frost & Sullivan analysis.
Wind Power Market: Wind Turbine Capital Cost (World), 2004-2012
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