Press Release

BTM Consult Releases New Wind Report: World Market Update 2011

March 26, 2012 at 3:00 AM EDT

Report Highlights Regional Trends, Production Data, Demand Drivers & Forecast 2012 - 2016

CHICAGO & COPENHAGEN, Denmark--(BUSINESS WIRE)--Mar. 26, 2012-- BTM Consult, a premier forecaster and data source for the international wind industry and part of Navigant’s global Energy practice, announced today that it has released International Wind Energy Development: World Update 2011.

The 150+ page World Market Update 2011 is BTM Consult’s seventeenth edition of this annual wind energy market report. The report includes more than 80 tables, charts and graphs illustrating global wind market development, as well as a wind market forecast for 2012 - 2016 and predictions for the wind market through 2021.*

The report delivers several views* on the fast‐growing wind market, including:

  • Record installation of 41.7 GW
  • Strong presence of four Chinese wind turbine suppliers in the Top 10 list
  • China maintains the No. 1 market position in the world, with 17.6 GW of new capacity
  • Offshore wind is on track for increased contribution to wind power in Europe
  • Market value will grow from €52.2 billion in 2011 to €86.3 billion in 2016*
  • Direct drive turbines now account for 21.2% of the world's supply of wind power capacity
  • Wind power will deliver 2.26% of the world's electricity in 2012
  • Forecasts and predictions to 2021 indicate that wind power can meet 8.0% of the world’s consumption of electricity by 2021*

International Wind Energy Development – World Update 2011 includes individual country wind market assessments, incentives around the world, and detailed analysis of both the demand- and supply-sides of the wind market in 2011. This year’s report reviews the latest developments in hydraulic drivetrains, identifies the pros and cons, and compares the hydraulic technology to the industry’s three currently established drivetrain technologies: conventional gear-, direct- and hybrid-drivetrains.

Demand

With 41,712 MW of new installations, the total installed capacity of wind power grew to around 241,000 MW. This was an increase in cumulative installations of 21%. In terms of annual installations, there was a modest increase of just 6%. Annual installed capacity has grown by an annual average of 23% over the past five years. This outcome happened in the third year after the financial/economic crisis struck the world, including some of the wind industry's most important markets in the US and Europe.

Supply

The most significant change in the supply market was the strong growth of Chinese wind turbine suppliers. Four Chinese companies still hold strong positions among the Top 10, including Goldwind (No. 2), Sinovel (No. 7), United Power (No. 8) and Mingyang (No. 10).

Vestas is still the world’s largest turbine supplier despite its market share dropping by 1.4% to 12.9% in 2011. Goldwind (CN) advanced to No. 2 and GE Wind (US) remains as the world’s No. 3. Hereafter follows Gamesa(ES), Enercon (GE), Suzlon Group (IND), Sinovel (CN), United Power(CN), Siemens Wind (DK) and finally, new on the Top 10 list is Mingyang (CN).

Looking Forward

Despite the fact the Asian market, especially China and India, remains strong, the average growth rate for new annual installations for the forecast period, 2012-2016 is only 10%. This is the first time the annual growth rate has been revised downwards by more than 5% points, thus revising the World Market Update's five year forecast. At the end of the forecast period, the annual rate of new capacity is expected to surpass 68,105 MW per year. The cumulative level of installations expected over the five year forecast is 269,845 MW, 14% lower than last year’s forecast. This year, a growth of 3.5% over 2011 is expected.*

Despite a downgrade in the growth rate for the next five years, global growth will continue. The global drivers for wind power remains strong, although profiles vary from region to region. In Asia (India and China), the drivers are strong economic growth and the need for electricity; in Europe, the driver is determined political action to combat global warning; and in the US, the drivers are a mix of global warming and security of supply. The more uncertain prediction for the period from 2017 to 2021 indicates an improved average growth rate of 11.5%, also justified by the likelihood of political action to implement new decisions on the climate change issue.*

More information and report pricing for World Market Update 2011 can be found at www.navigant.com/windreport. For questions about the report, please contact:

Denmark:        
Per Krogsgaard at

per.krogsgaard@navigant.com

+ 45 97 32 52 99
Birger T. Madsen

birger.madsen@navigant.com

+ 45 97 32 52 99
Feng Zhao

feng.zhao@navigant.com

+ 45 97 32 52 99
 
United Kingdom:
Aris Karcanias

aris.karcanias@navigant.com

+44 207 015 8723

 
United States:
Daniel Finn-Foley

daniel.finn-foley@navigant.com

+1 781 270 8404
 

About BTM Consult

Founded in 1986, Denmark-based BTM Consult is a premier forecaster and data source for the international wind energy sector. Since 1996 BTM Consult has annually published the highly regarded International Wind Energy Development: World Market Update, in addition to several other recurring globally-focused wind market reports, including its first release of the Offshore Wind Report in 2010. On December 20, 2010, BTM Consult became part of Navigant’s global Energy practice. Additional information about BTM Consult can be found at www.navigant.com/btm.

About Navigant

Navigant (NYSE: NCI) is a specialized, global expert services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals combine technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism in the highly regulated Construction, Energy, Financial Services and Healthcare industries to support clients in addressing their most critical business needs. More information about Navigant can be found at www.navigant.com.

* The information contained in this press release concerning the report, “International Wind Energy Development – World Update 2011,” is a summary and reflects BTM Consult’s current expectations based on market data and trend analysis. BTM Consult’s market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full BTM Consult report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used by BTM Consult to create the report. Neither BTM Consult nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.

Source: Navigant

Navigant
Laverne Murach, +1 202 481 7336
laverne.murach@navigant.com
or
BTM Consult – A Part of Navigant
Per Krogsgaard, + 45 97 32 52 99
per.krogsgaard@navigant.com

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