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Global wind blade market to grow at a CAGR of 10%
Companiesandmarkets.comAug 06, 2012 15:45 BST
A double-digit growth was experienced by the global wind blade market in 2011 with the industry expected to continue this momentum over the next five years.
The market has been forecast to grow at a compound annual growth rate (CAGR) of 10% through to 2017, to reach an estimated market value of $16 billion.
Growth within the global wind blade market is predominantly being driven by increases in turbine size and increases in blade length.
The business of generating electricity from the wind is rapidly growing and is set to expand as China, the US, and the Rest of the World (ROW) seek cleaner, more sustainable ways to generate electricity.
Europe, North America, Asia, and ROW are forecast to register positive growth. Each region has different growth drivers that will drive the wind blade market. In terms of value, Europe is expected to lead the world followed by Asia-Pacific in 2017, and in terms of volume, Asia-Pacific is expected to lead.
Asia-Pacific looks set to be the fastest growing market and will grow by 19.3% CAGR during 2011 - 2016. By 2016, the wind blade market in Asia-Pacific will be at $9.1 billion with annual installation of 93,243 blades.
The market for wind generating equipment is rapidly expanding with strong demand potential from 2012 through 2017.
For more information on the global wind blade market, see the latest research: Global Wind Blade Market Report
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