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In 2008, North American wind power generation capacity passed the 27 gigawatt (GW) mark by adding almost 9 GW from the year before, which represented the largest individual gain of any region in the world. According to a recent report from Pike Research, the market for wind turbines will continue to grow through 2015, driven by new-generation additions and replacements of smaller, older turbines with larger, more efficient models. Pike forecasts that the turbine market will resume its growth in 2011, following three years of stagnation, and cumulative wind turbine deployments will exceed 40,000 units during the period from 2010 to 2015.
“The year 2009 will be a defining moment for wind power markets around the world,” said Clint Wheelock, managing director. “The global economic crisis that began in late 2008 has thrown the industry into confusion, along with most global industries. Still, we see cause for optimism in the longer term as capital markets recover and the regulatory environment improves for wind energy.”
In addition to new deployments, another growth driver will be the replacement of aging turbines with newer, larger, more efficient models. By 2015, Pike Research forecasts that 45% of all turbine installations in North America will be replacements.
For more information, call (303) 997-7609 or visit www.pikeresearch.com.