Ringkobing, Denmark [RenewableEnergyWorld.com] BTM Consult has released its 14th annual update on the status of the international wind power industry. According to the reports, 2008 saw the highest ever level of wind turbine installations. With 28,190 megawatts (MW) of new capacity installed, the growth rate was 42% compared with 2007, resulting in a cumulative worldwide total of 122,000 MW.
Although it will be impacted by the current economic crisis in 2009 and 2010, the future looks bright for the wind power industry, BTM said. The report’s five year forecast up to 2013 projects significant growth. Over the past five years the average growth in annual new installations has been 27.6 % per year. In the forecast up to 2013 an average annual growth rate of 15.7 % per year is expected. More than 200 GW of new wind power capacity could come on line before the end of 2013.
The report also lists the top ten wind turbine suppliers in the world, this group accounted for close to 85% of total global supply in 2008. Two Chinese manufacturers, Sinovel and Goldwind, joined the top ten, and Sinovel increased its market share. Vestas and GE Energy are the market leaders, with 19.8% and 18.6% of the world supply market respectively. Another Chinese manufacturer, Dongfang, has joined the group of five suppliers just outside the top ten.
The annual installation of wind power capacity will grow from today’s 28,190 MW to around 58,500 MW per year in 2013. Cumulative capacity by the end of 2013 will reach around 343 GW. The report’s forecast indicates that the penetration of wind power into the global electricity system has already reached a contribution of 1.3%. It is expected to reach 3.35 % by 2013 and 8 % by 2018.
For more information about the full report, click here.