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Utility grade wind turbine market to hit $96.7 billion by 2018

Press Release   •   Jul 10, 2012 12:21 BST

The utility grade wind turbine market reached a value $32.2 billion in 2011, with this amount estimated to hit $96.7 billion by 2018. Market growth is expected to be on a global scale and a result of vendor achievement of marked improvements in the technology.

Worldwide utility grade wind turbine markets are poised to achieve significant growth as countries impose stricter environment controls on the use for fossil fuels and coal to generate electricity. The fact that wind energy has reached parity for the long term comparative cost of energy bodes well for utility grade wind turbine market growth.

The ability to provide local land based systems in low wind areas and to implement offshore wind farms bodes well for market growth. Countries that invest in wind energy will achieve significant strategic advantage economically as wind energy represents efficient energy infrastructure delivery.

China is emerging as a significant user of wind energy and in 2011 led the world in installing wind-power capacity.

Local delivery of wind energy is a priority for the Chinese because they see it as a way to avoid the crushing costs of building high voltage transmission systems.

The aim of virtually every government in the world is to encourage low carbon energy generation technologies to take over. It is clear however that they must act now as for every $1 of investment avoided in the utility grade wind turbine market before 2020 an additional $4.3 would need to be spent after 2020 to compensate for the increased emissions.

For more information on the utility grade wind turbine market, see the latest research: Utility Grade Wind Turbine Market Report

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